A Practical Guide to Trusts

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Description

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.

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