Unpacking the New IRS Estate Planning Memo
Big Picture Retirement®
Devin Carroll
4.7 • 546 Ratings
🗓️ 3 June 2024
⏱️ 39 minutes
🧾️ Download transcript
Summary
In today's episode, we examine the recent IRS Chief Counsel Memorandum, which introduces significant changes to one of the cornerstone strategies in estate planning. We explore how these new guidelines impact assets placed in trusts like intentionally defective grantor trusts (IDGTs) and spousal lifetime access trusts (SLATs). These trusts have traditionally been used to 'freeze' asset values for estate tax purposes while benefiting from more favorable individual income tax rates. But there's a core piece of this that is going to look different moving forward.
If you're thinking "I love the Big Picture Retirement podcast" please consider rating and reviewing this show! This helps us support more people -- just like you -- move toward a confident retirement. Just scroll down to the "ratings and reviews" section, tap to rate with five stars, and select "Write a Review." Then be sure to let us know what you loved most about the episode!
Also, if you haven't done so already, follow the podcast. We're adding new content every week and if you're not following there's a good chance you'll miss out. Follow now!
Want to ask Devin or John your question? Just visit https://www.bigpictureretirement.com/ and look for the tab on the right side that says "Send A Voicemail."
Although this show does not provide specific tax, legal, or financial advice, you can engage Devin or John through their individual firms.
Contact Devin's team at https://carrolladvisory.co/podcast1
Contact John's team at https://www.rossandshoalmire.com/
Transcript
Click on a timestamp to play from that location
| 0:00.0 | The Big Picture Retirement Show does not provide tax, legal, or financial advice. |
| 0:04.3 | Listeners are encouraged to seek out their own advisors in these areas. |
| 0:10.4 | Hey, everyone, welcome to the Big Picture Retirement Show. |
| 0:13.2 | I'm your host, Devin, joined today by my co-host, John Ross. |
| 0:17.0 | Howdy. |
| 0:17.3 | Howdy. |
| 0:25.6 | Yeah. Howdy. John, you were telling me about an IRS memorandum that you were reading that could have an |
| 0:30.9 | impact on a position that the, that it somewhat reverses a position, rather, that the IRS |
| 0:37.1 | has had in the past. |
| 0:39.1 | Yep. |
| 0:39.4 | And this is something that could impact some of our listeners. |
| 0:42.3 | It could, although, you know, it's, we're going to have to get into some background on this because it's a, it's a little bit of a technical issue. |
| 0:52.4 | Imagine that with the IRS. |
| 0:53.8 | Imagine. Yes. But it with the IRS. Imagine. |
| 0:54.6 | Yes. |
| 0:55.2 | But it involves trust planning. |
| 0:57.8 | And in particular, a type of trust that you'll see referred to as an intentionally |
| 1:05.0 | defective grantor trust or IDGT occasionally referred to as an idget. |
| 1:11.7 | Yep. |
| 1:12.4 | And so I thought, well, I don't think we've ever talked about intentionally defective |
| 1:15.9 | grandor trust, what they are, why they're used. |
| 1:18.3 | I'm sure we've mentioned it at some point in the past. |
... |
Please login to see the full transcript.
Disclaimer: The podcast and artwork embedded on this page are from Devin Carroll, and are the property of its owner and not affiliated with or endorsed by Tapesearch.
Generated transcripts are the property of Devin Carroll and are distributed freely under the Fair Use doctrine. Transcripts generated by Tapesearch are not guaranteed to be accurate.
Copyright © Tapesearch 2026.