Overview
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Legal Principles & Definitions
7 mins
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Important Trust Clauses
82 mins
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Foundational Concepts
109 mins
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Foundational Concepts: Computation of DNI
149 mins
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Charitable remainder trusts: tax aspects - distributions
184 mins
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Stand-Alone IRA Beneficiary Trust
222 mins
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Spousal Limited access Trust
263 mins
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Secure Act: 10 Year Rule
296 mins
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Paying IRAs to Trusts
354 mins
Course Description
Recent shifts and changes in the taxation of estates and trusts have also changed some of the planning techniques that practitioners should consider when advising clients. This Full-day CPE webinar will help you explore the fundamental concepts of trusts and estates for planning & compliance that may help provide your clients with greater value.
Tax and estates can be used for many purposes. Intergenerational wealth planning and transfer are one of them. This webinar covers a broad number of topics ranging from the fundamental legal principles necessary for the trusts and estate practitioners to revise. The ability of language in the trust instrument accomplishes a certain tax result.
With the increased use of trusts and estates for long-term tax planning and wealth transfer, the complex requirements need to be explained to detailed on the tax return. This online CPE course on taxes provides a refresher on Form 1041 – the US Income Tax Return for Estates and Trusts and covers the aspects of the same that can help professionals prepare better returns based on basic understanding.
A trust is a legal vehicle that allows a third party, a trustee, to hold and direct assets in a trust fund on behalf of a beneficiary. A trust greatly expands your options when it comes to managing your assets, whether you’re trying to shield your wealth from taxes or pass it on to your children. Practitioners must navigate the correct understanding for suggesting to clients the effective role a specific trust can play for them. This course covers the 30 most popular trusts and their in-depth understanding.
Trusts and estates can play a crucial role in IRA planning and opportunities to preserve retirement funds after death. With a solid understanding of IRA provisions, this course offers helps to plan around key issues and identify the opportunities. It helps explore and avoid rules, traps, and regulations to make your life easier. Rich with flowcharts, tables, and spreadsheets, this course is perfect for your refresher needs.
This IRS-Approved Course on Trust and Estate Planning covers the following Key Topics:
- Key legal definitions principles of estates, trusts, and property ownership.
- Types of trusts commonly used, Trust accounting fundamentals, and important clauses including formula valuation clauses.
- Requirements for a trust to be a qualified designated beneficiary of an IRA.
- Using IRD to fund charitable bequests.
- 30 common types of trusts and their unique differentiating factor in-depth including grantor trusts, CRTs, RLT, IDGT, CLT, ILIT, SNT, GRAT, GRUT, GRIT, SLAT, QDOT, QPRT, ING, ESBT, QSST, and others.
- Bracket management, shifting income with trust distributions, limit on miscellaneous itemized deductions, state income tax planning for trusts, and Form 1041 examples
- Understanding important rules and traps under key types of trusts
- Payouts when a Beneficiary Dies
- Understanding the Special Rules for Eligible Beneficiaries and Eligible Beneficiary Trusts
- The Impact of ERISA, REA, and Community Property
- Using out of the State Trusts to Reduce State Income Taxes
- Spousal Rollovers Outright and from Trusts
Specifically designed for CPAs and financial planners, this full-day CPE course develops a fundamental understanding about trusts and estate to serve the clients better. Robert Keebler is an expert advisor in family wealth transfer, estate planning, and retirement distribution planning and an ideal one to take the subject forward.
Learning Objectives
- To identify how to read and understand estate planning instruments.
- To recognize basic fiduciary accounting principles and fundamentals
- To identify about select planning opportunities and traps
- To identify different types of trusts for income tax purposes.
- To recall the concepts of Fiduciary accounting
Who Should Attend?
- Accountant
- Accounting Firm
- Accounting Managers
- Accounting Practice Owners
- Accounts Director
- Chief Accounting Officer
- Cloud Accountants
- CPA (Industry)
- CPA - Mid Size Firm
- CPA - Small Firm
- CPA in Business
- Enrolled Agent
- Entrepreneurial Accountant
- Entrepreneurial CPA
- Senior Accountant
- Staff of Accounting Firm
- Tax Accountant (Industry)
- Tax Director (Industry)
- Tax Practitioners
- VP Accounts
- Young CPA