Trusts are not cookie-cutter documents. In fact, they can be rather unwieldy, especially in explaining the functions to a client and then having the client comply with the trust terms.
DESIGNED FOR
Tax practitioners who advise clients on the benefits of establishing a trust
BENEFITS
- Advise individual clients on the benefits of using a trust to achieve their personal goals
- Save clients money in their estate planning
HIGHLIGHTS
- Key concepts of trusts, including recent trends; best practices; jurisdiction; and ways to avoid pitfalls
- Decanting
- Federal estate tax exemption and remaining relevance of trusts
- Irrevocable life insurance trusts
- The role of family dynamics
- Choice of trustee and other fiduciaries
- State trust-friendly considerations
- Charitable trusts
- Delaware Statutory Trusts
- Powers of attorney
- Pet Trusts – the emerging necessities
- State, county, and local issues
- Portability
- QTIP issues
- Creditor considerations
- Potential IRA problems
- Problems with re-titling assets
PREREQUISITES
A basic understanding of simple trusts
ADVANCE PREPARATION
None