NAEPC Webinar: Negative Basis Partnership Freeze

Date: Wednesday, March 8, 2017
Time: 11:30am - 1:00pm
Location: RCC Alumni House, 3564 Ramona Drive, Riverside, CA 92506
Speaker: Jerome M. Hesch, MBA, JD, AEPĀ® (Distinguished)

Thank you to this month's webinar host: Riverside Community College District Foundation.

The Estate Planning Council of Riverside County has received a full year subscription to the monthly Webinars provided through NAEPC as part of our "5 Star" Council recognition.


When real estate is encumbered by mortgage liabilities in excess of its income tax basis, a lifetime transfer, either by sale or by gift, causes the taxpayer to report phantom income. This intermediate webinar will first evaluate how to eliminate the phantom gain at death and still implement an estate tax freeze using the preferred partnership structure. The second part will examine how one can defer the reporting of the phantom gain if a lifetime sale of the negative basis real estate is contemplated. The income tax deferral will become even more important if there is no estate tax and no income tax-free step-up in basis at death. It is recommended that participants have an understanding of the income tax issues that arise when an asset subject to liabilities is either sold or disposed of by a lifetime gift.  


Jerome M. Hesch, MBA, JD, AEP® (Distinguished) is the Director of the Notre Dame Tax & Estate Planning Institute, an Adjunct Professor of Law at Florida International University, University of Miami, Vanderbilt University, and Boston University On-Line LL.M. Program.


Continuing education credit is available at each webinar for Accredited Estate Planner® designees. In addition, a general certificate of completion will be made available for those professionals who feel the program satisfies their continuing education requirements and are able to self-file. It is the responsibility of the attendee to determine whether their state, discipline, or designation will allow one to self-file for a distance-learning program.

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