A Practical Guide to Trusts: Maximizing Financial, Estate, and Asset Protection Strategies

Overview

This comprehensive course equips practitioners with the knowledge and expertise to make well-informed decisions regarding the suitability of trusts in their clients’ financial, estate, and asset protection plans. Participants will gain indepth insights into various trust types that can effectively minimize income, estate, generation-skipping, and other taxes at both the federal and state levels. From understanding the role of trustees to exploring advanced trust strategies, this course provides practical guidance on trust implementation, operation, and optimization

Highlights

Understanding the trustee’s role and effective problem avoidance strategies. Utilizing trusts to bypass probate and streamline the wealth transfer process. Analyzing the impact of income, gift, and estate taxes on revocable living trusts. Leveraging marital deductions and marital and bypass trusts for optimal estate planning. Harnessing the potential of irrevocable trusts as the cornerstone of an estate plan. Exploring the advantages of irrevocable life insurance trusts. Creating and managing dynasty trusts for long-term wealth preservation. Evaluating the benefits of GRITs, GRATs, GRUTs, and QPRTs as powerful estate planning tools. Trust options to ensure financial security for elderly clients. Understanding the tax consequences, limitations, and advantages of charitable contributions and private foundations. Navigating charitable remainder and charitable lead trust considerations. Utilizing trusts as asset protection devices. Addressing trust-related issues within business structures

Prerequisites

None

Designed For

CPAs, EAs, attorneys, bankers, and financial planners

Objectives

At the end of this course, you will be able to: Demonstrate a practical understanding of when and how to implement and operate trusts within clients’ financial,estate, and asset protection plans.