Curriculums:   Trusts and Estate Planning,Individual Tax Planning and Return Preparation

NASBA Credit Category:  Taxes

CPE Hours:  8

Description

Start with an overview of trust laws and general concepts, then dive into common structures and progress into advanced trust planning issues. New this year, receive extensive coverage of the use of trust protectors.

Learn advanced techniques related to income, gift and estate tax planning using trusts; succession planning; trust administration; special needs planning; and asset protection uses of most common trusts. Engage in a discussion that also covers various trusts and portability versus A-B and A-B-C trusts.

Major Subjects

• Trust obstacles and pitfalls
• Revoking irrevocable trusts
• Trust protectors
• Succession planning, retirement planning and estate planning through trusts
• Special needs and Medi-Cal/Medicare planning
• Tax planning with trusts
• Planning with A-B and A-B-C (QTIP) trusts
• Asset protection through domestic and foreign trusts

Objectives

• Identify income tax, gift tax and estate tax aspects of various types of trusts.
• Determine requirements for a valid trust, selecting trustees, trustee discretion, distribution clauses and probate avoidance.
• Recognize how to avoid Proposition 13 reassessment.
• Recall estate planning and asset protection planning uses of different trusts.
• Identify advanced tax, estate, succession, retirement, special needs and asset protection planning using trusts.
• Recognize common obstacles and pitfalls, such as selection of trustee and property tax reassessment, and how to plan around them.

Level:  Intermediate

Designed For

CPAs, attorneys and financial planners.

Advanced Prep:

None.

Prerequisite

General knowledge of income, estate and gift taxes.