Published: December, 2021
Grantor trusts and non-grantor trusts are the two main types of funded trusts that hold assets. The type of trust you’re administering determines whether you must file Form 1041 for the trust, or declare all items of income and deduction on the grantor’s Form 1040.
All trusts have a grantor, the person who creates the trust. All trusts also involve trustees, beneficiaries, and remaindermen. The relationship of the grantor to the other individuals involved in the trust determines whether a trust is a grantor trust or a non-grantor trust.
Non-grantor trusts are treated as separate entities (like a C-Corporation). But grantors of grantor trusts maintain significant rights to the trust’s assets and income. Because of that, they’re treated as if they are direct owners of the trust assets (like a sole proprietorship).
Various tax proposals, such as a change to the tax treatment of grantor trusts and a proposed surcharge to undistributed income of a non-grantor trust, may increase the importance of determining a trust’s income tax status in 2022 and beyond.
Speaker Griffin Bridgers in this CPE/CE webinar will answer the following major questions:
Partner Hutchins & Associates
Griffin Bridgers, JD., LL.M., is a partner with the law firm of Hutchins & Associates LLC in Denver, Colorado. Griffin specializes in estate and income tax planning for high net worth individuals. Griffin is also a frequent speaker and educator, both online and in person, and he provides tax and estate planning updates through digital media through his YouTube channel and on an individual basis for clients and wealth professionals. Griffin also uses his advanced tax and estate planning knowledge on an individual, non-attorney basis to serve as a market expert on the delivery of planning services, and he advises wealth advisors and CPAs on the use of planning strategists and bespoke digital media to grow their client base.
Hutchins & Associates LLC specializes in estate planning and related legal services. Founded in 1974, it has dedicated itself to forging lasting relationships with generations of clients. The firm has represented a wide variety of clients including farmers and ranchers, renowned authors, Fortune 500 executives, business owners, celebrities, professional athletes (including a player named as one of the top ten football players of all time, two players in the Pro Football Hall of Fame and two players selected to the college football All-Time All-American Team), coaches and members of the judiciary.
The firm focuses on wealth transfer planning, complex estate, gift, and generation-skipping tax planning, estate and trust administration, probate litigation, income tax planning, administration of conservatorships and guardianships, formation of business entities, and the organization and administration of nonprofit organizations and private foundations.
Dec 12th, 2021
Very good Webinar. It's a complicated subject which was given a decent amount of clarity by the presenter.
Dec 10th, 2021
Excellent course if you do Trust tax returns.