TCTW
THE COMPLETE TRUST WORKSHOP!

The estate and gift tax law has turned upside down in 2010, and may do so again this year. It will take an even greater turn in 2011. Clients who mistakenly believe that estate and trust planning is on hiatus while the estate tax is on temporary suspension must be advised by professionals who understand why planning is essential in these times. The purpose of this course is to explore the many beneficial uses of trusts, an essential element in estate planning. This course gives insights and practical pointers concerning trusts of every shape and size after tax reform.

Major Topics

• Guide to legislative changes and their impact on trust planning
• Introduction to trusts with emphasis on typical provisions
• Revocable living trusts
• Common testamentary trust arrangements -- Bypass trusts, QTIP trusts, and other marital trusts
• Asset protection trusts
• Sophisticated trusts for estate planning and asset transfer -- GRATs, GRUTs, QPRTs, and IDGTs
• Charitable trusts -- Charitable remainder trusts, charitable lead trusts, and pooled income funds
• Irrevocable life insurance trusts
• Medicaid trusts: special needs and Miller
• Trusts for minors -- Sections 2503(b) and 2503(c), and other trusts
• Dynasty trusts
• Trusts to hold S corporation stock
• Impact of historically low APRs on various trust arrangements

Learning Objectives

• Identify the areas of trust in connection with disability, charity, life insurance, leveraging gifts, principal residences, and minors
• Understand the role played by a marital deduction trust and a credit shelter bypass trust
• Explain how trusts may protect assets and perpetuate family wealth over multiple generations

Designed For: CPAs who wish to have a complete understanding of the various uses of trusts.

Level of Knowledge: Intermediate

Prerequisites: A basic course in estate and gift tax and a basic course on estate and trust income taxation (Form 1041).