This course provides in-depth information to enable the practitioner to make a well-informed decision as to whether a trust is the appropriate vehicle for a client’s financial, estate, and/or asset protection plan, and, if so, how the trust can best be implemented and operated. Participants will learn about the many different types of trusts that can be harnessed to save clients income, estate, generation-skipping, and other taxes, at both the federal and state level.
Course ID: PGTT
A Practical Guide to Trusts
Learning Objectives
Choose a practical understanding of when and how to implement and operate a trust in a client’s financial, estate, and/or asset protection plan.
Major Topics
- The role of the trustee and how to avoid problems
- How to use trusts to avoid probate
- How revocable living trusts are affected by income, gift, and estate taxes
- Marital deductions and marital and bypass trusts
- How an irrevocable trust can be the center of an estate plan
- Advantages of an irrevocable life insurance trust
- How to create a dynasty trust
- Why a GRIT, GRAT, GRUT, or QPRT can be a good estate planning tool
- Trust options to provide security for older clients
- Advantages, tax consequences, and limits on charitable contributions and private foundations
- Charitable remainder and charitable lead trust issues
- How trusts can serve as asset protection devices
- Business trust issues
Who Should Attend
CPAs, EAs, attorneys, financial planners, insurance agents, and bankers
Fields of Study
TaxesPrerequisites
None