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Webinar: A Practical Explanation of Estate Tax Return Preparation

October 28, 2020 @ 12:00 pm 1:00 pm

This program offers 1 participatory MCLE credit; 1 Legal Specialization in Estate Planning; Trust & Probate Law; 1 Legal Specialization in Taxation Law

Completing an estate tax return can present the fiduciary of the estate both opportunities for effective post-mortem estate planning as well as liability. Understanding the fiduciary’s obligations to file and how to file the estate tax return (Form 706) is essential for any attorney advising the fiduciary. During the course of the presentation, attendees will receive in-depth analysis and practical guidance on how to report assets, get the biggest benefit out deductions, and make advantageous elections. Understanding estate tax reporting is not just for large estates as portability elections make filing a consideration even for non-taxable estates. In representing a fiduciary, it is critical to understand how to insulate them from liability. The presentation will cover the potential risks to a fiduciary and how an advisor can proactively mitigate these risks. Finally, in recent years the new basis consistency requirements have become one of the more confusing aspects of filing estate tax returns. The presentation will address when the reporting (Form 8971) needs to be completed and how to file these reports efficiently and accurately.  


Speaker: James Dougherty


James I. Dougherty is a partner at Withers Bergman LLP in the firm’s Greenwich, Connecticut and New York City offices. His practice focusses on all aspects of the estate administration process including domestic and international probate, post-mortem estate planning, estate tax reporting, and audits. He is a past Trusts & Estates Fellow for the Real Property, Trust & Estate Law Section of the American Bar Association for 2016-2018 and current ACTEC Dennis I Belcher Young Leader. James frequently lectures on estate planning and probate issues to various professional organizations. He has been published in Trusts & Estates, Bloomberg BNA Estates, Gifts, & Trusts Journal, STEP Journal, ACTEC Law Journal, Probate & Property, as well as other publications. Among his many written works, he co-authored a book published by LexisNexis on estate administration. James is admitted to practice in Connecticut and New York. James is a member of the executive committee of the Estates & Probate Section of the Connecticut Bar Association. He is also an Editorial Board Member for Trust & Estates. He earned his B.A. in History & Policy, Phi Beta Kappa, from Carnegie Mellon University and his J.D. degree, cum laude, from William & Mary School of Law.

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