Everything You Need to Know About Trusts 25-26

Overview

An overview of trust laws and a review of general concepts. Common structures and review of some more advanced trust planning issues. Extensive coverage planning issues through a discussion of trust administration. The discussion covers special needs planning, asset protection, gift and estate tax planning, use of most common trusts, and portability versus A-B and A-B-C trusts.

Highlights

Trust obstacles and pitfalls
Revoking irrevocable trusts
Trust protectors
Succession planning, retirement planning and estate planning through trusts
Basic issues related to special needs and Medi-Cal planning
General Outline of planning with GRATs, QPRTs, IDGTs, etc.
Planning with A-B and A-B-C (QTIP) trusts
Asset protection through domestic and foreign trusts

Prerequisites

General knowledge of income, estate and gift taxes.

Designed For

CPAs, attorneys and financial planners.

Objectives

Identify income tax, gift tax and estate tax aspects of various types of trusts, and a primer on Purposeful Planning
human, non-tax related issues
Determine requirements for a valid trust, selecting trustees, trustee discretion, distribution clauses and probate avoidance
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