Objective
- Advise individual clients on the benefits of using a trust to achieve their personal goals while avoiding taxation
- Save clients money in their estate planning
Highlights
- Key concepts of trusts, including recent trends; best practices; jurisdiction; and ways to avoid pitfalls
- Changing a trust
- Federal estate tax exemption
- Discussion of federal and state estate taxes
- The role of family dynamics
- Choice of trustee and other fiduciaries – a word on institutional representatives
- Pet Trusts – the emerging necessities
- State, county, and local issues
- Portability
- QTIP issues
- Creditor considerations
- Potential IRA problems
Designed For
Tax practitioners who advise clients on the benefits of establishing a trustPrerequisite
A basic understanding of simple trustsAdvanced Preparation
None