Everything You Need to Know About Trusts

Description

An overview of trust laws and a review of general concepts. Common structures and progress for reviewing more advanced trust planning issues. Extensive coverage of the use of trust protectors. Master advanced techniques related to income, gift and estate tax planning using trusts; succession planning; trust administration; special needs planning; and asset protection use of most common trusts. Discussion covering various 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
• Special needs and Medi-Cal/Medicare planning
• Tax planning with trusts, including, GRATs, QPRTs, IDGTs, etc.
• Planning with A-B and A-B-C (QTIP) trusts
• Asset protection through domestic and foreign trusts

Objectives

• Recognize the applicable revenue recognition and accounting methods required for long-term contracts.
• Provide a detailed analysis of IRC Code Section 460, and related IRS Regulations in Section 1.460.
• Recognize compliance requirements and pitfalls including identification of available elections, including an analysis of which elections are most beneficial.
• Identification and analysis of significant "book vs. tax" differences.

Designed For

CPAs, attorneys and financial planners.