Bloomberg Tax's Practice Guides and Checklists -- A Valuable Resource Our Subscribers Should Utilize


Every Legal Editor at Bloomberg Tax is asked to do a blog every so often. In the past, I’ve tried to blog on an Estates, Gifts, and Trust (EG&T) tax development that I thought had some unique or interesting quirk. However, in this blog I’ve decided to give an unapologetic and shameless plug to one of our lesser known, relatively new, and extremely practical products on the Bloomberg Tax website – our Practice Guides and Checklists.

At a recent meeting, it came to my attention that subscribers have not been finding the Practice Guides and Checklists. They are a relatively new product, which means that we are gradually incorporating them into our Portfolios, Tax Practice Series, and other tax planning products. As we produce new Portfolio manuscripts, however, we are incorporating these Practice Guides and Checklists where appropriate. In the meantime, I would highly advise all of our EG&T subscribers to check out our offerings.

Our Practice Guides and Checklists cover a wide range of topics including Accounting Periods and Methods, Business Transactions, Charitable Giving, Estate Planning, Individuals, Pass-Through Entities, and Procedure and Administration. For the EG&T practice group, the two primary categories are Charitable Giving and Estate Planning.

Our EG&T Guides were primarily written by our Resident Fellow, Laura Peebles. In case you aren’t familiar with Laura, she is a retired Director of Deloitte LLP. She has many years of experience and most recently worked in Deloitte’s Washington National Tax Practice. I was fortunate enough to review and edit many of these EG&T Practice Guides and I am not ashamed to admit that I learned A LOT from Laura in producing these Guides. From my perspective, many of these Guides will be an invaluable resource for both the beginning practitioner and the seasoned partner alike.

In the past, many of our customers have asked if we have any sort of planning products, which we have tried over the years to address using various practice tools. While our editors and our outside authors attempt to incorporate planning tips into our products where appropriate, the planning or practice tips in our products are usually centered strictly around the individual topic being discussed in the portfolio or product. These Practice Guides and Checklists give a much broader/transactional approach to planning and bridge the gap that our subscribers have been asking for.

Each of the Planning Guides is organized along the same lines: 

  • Overview

  • Key Considerations

  • Reporting

  • State Considerations

  • International Considerations

  • Key Portfolios and Other Resources

These Guides allow practitioners to download an Excel checklist to assist with tracking the steps necessary to implement the planning technique. The Key Considerations discussion in each Guide provides detailed tax and non-tax factors for various considerations and cross-references to the most relevant Portfolio and Tax Practice Series discussion and our Election and Compliance Statements for step-by-step instructions. With all the practical analysis and tools in a single Guide, this saves the subscriber valuable time, in lieu of trying to find a particular discussion to support a single issue. The Checklist is a practice tool corresponding to the Key Considerations. Used together, the Planning Guides and Election and Compliance Statements provide a powerful tool to plan and implement tax-savings strategies.

For example, an associate may choose to use the Checklist to ensure that key questions and issues are addressed when meeting with a client, and the associate can review the Key Consideration relating to each such question or issue. The associate may use the cross-references to review the most relevant Portfolio discussion to become more familiar with the complex analysis of certain issues that the associate may not completely understand. On the other hand, more experienced practitioners may wish to use the Checklist as a mere reminder and the Guide as a refresher.

Currently, in the Charitable Giving and Estate Planning Area, we offer the following Planning Guides and Checklists:


Charitable Giving

Choosing a Charitable Entity for Deferred Giving

Choosing Between Charitable Lifetime Giving and Bequests

Donating to Charitable Remainder Trusts

Donating Intangibles (Securities, FLPs, Patents, etc.)

Donating Real Estate and Real Estate Partnerships

Donating S Corporation Stock

Donating Tangible Personal Property

Making Cross-Border Donations

Transferring Closely Held Business Interests using Charitable Techniques


Estate Planning

Analyzing the Income and Transfer Tax Aspects of Life Insurance Trusts

Choosing Between a GRAT and an Intentionally Defective Irrevocable Trust

Choosing Between Grantor and Non-Grantor Trust Status

Choosing Between Non-Charitable Lifetime Giving and Bequests

Designing and Funding Marital Trusts

Designing Dynasty Trusts

Determining the Income and Estate Tax Aspects of Trust Administration Powers

Determining the Tax Impact of Choice of Trustee

Planning for Gift Splitting

Planning for Grandchildren

Planning with Disclaimers

Planning with Life Insurance

Planning with Self-Canceling Installment Notes, Private Annuities and Installment Sales

Portability Planning at Death of First Spouse

Portability Planning During Lifetime

Transferring Closely Held Business Interests using Charitable Techniques

Taking Title to Property to be Owned Jointly Between Non-Spouses

Taking Title to Property to be Owned Jointly Between Spouses

Transferring a Primary or Vacation Home

Transferring Closely Held Business Interests using Non-Charitable Techniques

Using Family Limited Partnerships and LLCs for Inter-generational Wealth Transfers


If you have any other topics for our Planning Guides, please feel free to reach out to us. We are always looking for ideas that would help our subscribers with tax planning and implementation.



For everything necessary to research, plan, and implement strategies for maximizing your clients’ control while minimizing taxes, take a free trial to the Estates, Gifts and Trusts Portfolios Library.