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.
• Identify income tax, gift tax and estate tax aspects of various types of trusts.
• Determine requirements for a valid trust, selecting trustees, trustee discretion, distribution clauses and probate avoidance.
• Recognize how to avoid Proposition 13 reassessment.
• Recall estate planning and asset protection planning uses of different trusts.
• Identify advanced tax, estate, succession, retirement, special needs and asset protection planning using trusts.
• Recognize common obstacles and pitfalls, such as selection of trustee and property tax reassessment, and how to plan around them.
• 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
CPAs, attorneys and financial planners.
General knowledge of income, estate and gift taxes.
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