Trust and Estate Planning for Liquidity



  • Available Until 9/4/2021
  • Next Class Time 11:00 AM MT
  • Duration 60 min.
  • Format MP3 Download
  • Program Code 09042019
  • MCLE Credits 1 hour(s)

Course Price: $89.00


Liquidity is an almost universal need in trust and estate planning. When a client dies, death taxes may need to be paid.  Expenses incurred in administration need to be paid.  Distributions may be required under trust instruments.  For these and many other reasons, estates need cash.  The big challenge comes when the estate has assets that, though valuable, are not liquid.  Assets may include real estate that is not quickly or cost-effectively sold.  Or a successful family business may be involved, where ownership stakes are not easily transferred or for which there is no ready market.  Complex financial assets, artwork or other unique property, hard to value and hard to sell, may also be held.  Trust and estate plans must anticipate the need for liquidity and formulate strategies for providing it or deferring taxes and distributions until liquidity can be created. This program will provide you with a real world guide to practical strategies for creating liquidity in trust and estate planning.

  • Challenges of planning for illiquid assets like real estate, family businesses, and unique property
  • Techniques and tools to fund tax liabilities, distributions, expenses and more
  • Mechanics of electing a deferral of estate tax under IRC Section 6166
  • Use and advantages of using Graegin notes to obtain liquidity
  • Advantages and disadvantages of use of redemptions and buy-sell agreements
  • Use of life insurance and other financial products to provide liquidity


William Kalish is a partner in the Tampa office of Johnson Pope Bokor Ruppel & Burns, LLP.  His practice focuses on advising individual clients and their families on their estate and trust plans, including wills, revocable trusts, irrevocable trusts, charitable trusts, private foundations, and limited partnerships. He also practices in probate administration, asset preservation, business succession planning for family-owned entities, and the division of business interests in the context of divorce.  He is a Fellow of the American College of Tax Counsel, formerly served as chair of Administrative Practice Committee of the ABA Tax Section, and has served as an Adjunct Professor of Law at Stetson Law School teaching estate planning.  Mr. Kalish received his B.A. from the University of Pittsburg and his J.D. with honors from George Washington University Law School.

Jeffrey M. Gad is a partner in the Tampa, Florida office of Johnson Pope Bokor Ruppel & Burns, LLP, where his practice emphasizes representing individuals emphasizing a broad range of probate, business and taxation related issues. His practice integrates the personal and estate tax planning concerns of individuals with tax and business planning for their closely-held businesses. He has extensive experience in all aspects of probate and trust administration, including the preparation of estate tax returns.  Mr. Gad earned his B.S.B.A. from the University of Florida, his J.D., magna cum laude, from Nova Southeastern University, Shepard Broad Law Center, and his LLM from New York University School of Law.