Skillfully Guide Clients Through the Trust Process
Your client is requesting trusts as a part of their estate and financial plans - are you confident you could give them the personalized and informed advice they need? At this comprehensive seminar you'll gain the skills and knowledge you need to ensure your clients' planning needs are met. Register today!
- Be prepared to answer questions by understanding the key elements of a trust.
- Identify the main parties in order to get them up to date on their duties and responsibilities to a trust.
- Sort through the different types of trusts available so you can match the appropriate plan to each individual situation.
- Recognize the essential drafting strategies that ensure well-crafted trusts.
- Steer clear of tax problems by ensuring your clients' trusts follow essential tax requirements.
- Refine your skills so you can easily and smoothly administer the trust.
- ESSENTIAL KNOWLEDGE FOR WORKING WITH TRUSTS
9:00 - 10:15, William J. Dutel
- Deciphering Trusts – What They are and How They Work
- Who are the Main Parties, Their Duties and Responsibilities to a Trust
- Advantages and Disadvantages of a Trust
- New Developments in Trusts
- RECOGNIZING THE DIFFERENT TYPES OF TRUSTS
10:30 - 11:45, Eric M. Schorr
- Revocable Living Trusts – Avoiding Probate
- Irrevocable Trusts – Providing Tax Saving Benefits
- Family/Exclusion Trusts – Providing Lifetime Income
- Charitable Trusts – Reducing Taxable Estate and Providing Income
- Marital Trusts – Distributing Income and Principal for Lifetime
- Special Needs Trusts – Preserve Eligibility for People With Disabilities
- Testamentary Trusts – Directing How and Whether the Trust Money Should be Spent
- MECHANICS OF DRAFTING AND EXECUTING TRUSTS
12:45 - 2:00, William J. Dutel
- Determining the Need or Purpose for a Trust
- A Modern Approach to Standard Elements and Clauses
- Strategies for Effective Drafting
- Tips for Drafting Common Trusts
- Executing the Trust
- Provisions For Changes to the Trust Instrument
- SUCCESSFULLY NAVIGATING THE TAX ASPECTS OF TRUSTS
2:15 - 3:30, Carl S. Goode
- Determining What Tax Factors Apply
- Minimizing Estate-Related Taxes
- Income Tax of Trusts, Estates and the Beneficiaries
- Capital Gains Tax
- Transfer Taxes
- Gift/Estate Taxes
- Generation–Skipping Tax
- Current Issues and Tax Law Changes
- HOW TO ADMINISTER A TRUST APPROPRIATELY
3:30 - 4:30, Carl S. Goode
- Powers, Duties and Liabilities of Trustees to Third Parties
- Monitoring Trust Account Reporting
- The Importance of a Spendthrift Clause and Creditors' Rights
- Method of Resolving Trust Disputes
- Setting Up and Terminating a Trust
This basic level seminar will provide attendees with a comprehensive overview of the trust process from beginning to end. This seminar will benefit:
- CPAs and Accountants
- Trust Officers