"In today's estate tax environment, the answers to core questions concerning whether to file an estate tax return, make a portability election or make a QTIP election may surprise you. This how-to workshop focuses on the trust administration process on the death of the single settlor and the first spouse in a joint settlor trust. Among other related topics, you will learn what clauses to look for in the trust; when and how to make portability and QTIP elections; how to educate the client concern
9:30 AM - 5:00 PM
David B. Gaw Esq.
Online registration is closed.
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In today's estate tax environment, the answers to core questions concerning whether to file an estate tax return, make a portability election or make a QTIP election may surprise you. This how-to workshop focuses on the trust administration process on the death of the single settlor and the first spouse in a joint settlor trust. Among other related topics, you will learn what clauses to look for in the trust; when and how to make portability and QTIP elections; how to educate the client concerning trust administration; and how to deal with assets outside the trust. Using checklists and forms, you'll understand how to create a practical system for administering the living trust after a death.
Formerly titled: Practical Workshop on Trust Administration of the Living Trust.
Determine how to develop a systematic approach to trust administration.
Identify portability and QTIP elections and when to file an estate tax return.
Identify how to administer a single-person trust and how to administer a two-person trust on the first death.
Recognize key provisions in the trust instrument.
Determine the income and estate tax issues associated with administration.
Recognize the effect of estate tax law on administration and plan for 2014 estate tax law.
Identify how to use chronological checklists for trust administration.
Determine when to file a 706 at First Death for Portability and/or QTIP election
Determine how to best educate the client.
Reading trust instruments
Provisions of trust documents
Preparation of trust accountings
Estate tax return requirements and opportunities
Tax issues related to funding
Use of the administrative trust
Dealing with 'stale' trusts
Disclaimers in post-mortem planning
Trust memoranda and allocation agreements
Trust administration of Media-Cal, QPRT, GRAT and IDGTs
Administrating other types of trusts
CPAs, attorneys and other professionals who want solutions, systems and forms to help with post-mortem living trust administration.
Advanced Prep: None
Speaker: David B. Gaw Esq.
Field of Study: Taxes
CPE Credit: 8 Hours
Meet the Speaker:
David Gaw, Esq., is the co-founder of Gaw Van Male and currently serves as chair of GVM's Estate Planning Department and Wealth Preservation Group and as a member of the Wine Industry Group. Mr. Gaw is a member of the Executive Committee, Estate Planning, Probate and Trust Law, State Bar of California Board of Legal Specialization. He is a selected international member of the Society of Trust and Estate Practitioners. He also is a certified elder law attorney, National Elder Law Foundation, accredited by the American Bar Association. Mr. Gaw lectures frequently for the State Bar of California, the Continuing Education of the Bar, the Education Foundation and various private groups throughout California and the nation. He has authored the California Trust Administration (CEB) chapters Administering the Single-Person Trust After Settlor's Death" and "Subtrust Allocation and Funding on the Death of the First Spouse" and the CEB Action Guides "Marital Deduction Subtrust Funding" and "Administering a Single-Person Trust After Settlor's Death.""