Description
The course provides advisers with the most up-to-date information about the creation, administration, and modification of trusts for legal and estate planning professionals. This course delivers an expert overview of general trust information, but also explains how to use specific types of trusts to solve unique planning problems. Explorations of different types of trusts include detailed knowledge about:
- The types of trusts that are most commonly used
- How each type of trust came to be used
- The possible tax consequences for grantors and beneficiaries of using a particular type of trust
- The requirements for each type of trust and how they should be drafted
- How planning professionals such as attorneys, accountants, investment advisers, and trust officers should administer the trust to achieve the client's stated planning goals over the life of the trust
Current compliance and best practice information to help planners and other professionals avoid common mistakes and improve client satisfaction. Topics covered include:
- The Role of Trust Protectors
- Marital Deduction and Bypass Trusts
- 2503(b) and 2503(c) Trusts
- Trusts and Divorce
This course also covers trending topics in trust planning, including:
- Completely updated information to reflect the 2017 Tax Cuts and Jobs Act
- New content on trust planning topics for blended families
- Updated state, federal, and international law updates for asset protection trusts
- New and more detailed real-world examples of trust planning scenarios that are most commonly encountered by planning profession
- Trust Amendments
- Special Needs Trusts
- S Corporations and Trusts
- Grantor Retained Interest Trusts
Topics covered in this course include the following:
Chapter 1: Trusts: What are They and Why do We Use Them? 1
Chapter 2: Trust Protectors 17
Chapter 3: Marital and By-Pass Trusts 25
Chapter 4: Community Property Trusts 37
Chapter 5: 2503(b) and 2503(c) Trusts 49
Chapter 6: Irrevocable Life Insurance Trusts 59
Chapter 7: Trusts and Divorce 77
Chapter 8: Revocable Living Trusts 95
Chapter 9: Inter Vivos QTIP Trusts 107
Chapter 10: Special Needs Trusts 125
Chapter 11: Holding Subchapter S Stock in Trust (and Estates) Subchapter J Meets
Subchapter S 151
Chapter 12: Grantor Retained Interest Trusts 169
Chapter 13: Charitable Trusts 183
Chapter 14: Intentionally Defective Trusts 213
Chapter 15: Qualified Personal Residence Trusts 235
Chapter 16: Domestic Asset Protection Trusts 253
Chapter 17: Offshore Asset Protection Trusts 283
Chapter 18: Federal Tax Issues with Asset Protection Trusts 307
Chapter 19: Returns, Compliance and Best Practices for Asset Protection Trusts 321
Chapter 20: Power of Appointment Support Trust (POAST) 345
Chapter 21: Trusts for Unique Assets and Difficult Situations 359
Chapter 22: Planning for Blended Families 369
Chapter 22: Trust Amendments 379
Appendix A: Income Tax Tables 405
Appendix B: Transfer Tax Tables 409
Appendix C: Required Minimum Distribution (RMD) Tables 419
Appendix D: One year Term Rates 427
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