The Efficacy and Application of 30 Common Trusts

Course Description

When you hear the words “trust” or “trust fund”. the first image that may come to mind is a wealthy family in a mansion with inherited wealth passed down from generation to generation. However,  you don’t have to be a member of the Rockefeller or Gates families to set up and benefit from a trust. 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.

Trust terminology can unfortunately be very confusing. A 100-page document is often named using the terms of a single-clause. However, practitioners must navigate this strange practice if they are to effectively advise their clients. In this presentation, I will cover 30 of the most popular types of trusts and explain in what situations they are generally effective for clients.

Highlights of the webinar :

• Revocable Living Trust (RLT)
• Irrevocable Trusts
• Simple Trusts; Complex Trusts
• Intentionally Defective Grantor Trust (IDGT)
• Charitable Remainder Trust (CRT)
• Charitable Lead Trust (CLT)
• Irrevocable Life Insurance Trust (ILIT)
• Stand-Alone IRA Beneficiary Trust
• Special Needs Trust (SNT)
• Minor Trust
• Spendthrift Trust
• Blind Trust
• Discretionary v. Non-Discretionary Trust
• Medicaid Trust
• Crummey Trust
• 2642(c) Trust
• Bypass Trust (B-Trust or Credit Shelter Trust)
• Qualified Terminal Interest Property Trust (QTIP Trust or marital trust)
• Dynasty Trust (GST Exempt Trust)
• Grantor Retained Annuity Trust (GRAT)
• Grantor Retained Unitrust (GRUT)
• Grantor Retained Income Trust (GRIT)
• Spousal Lifetime Access Trust (SLAT)
• Qualifying Domestic Trust (QDOT)
• Qualified Personal Residence Trust (QPRT)
• Incomplete Gift Non-grantor Trust (ING)
• Domestic Asset Protection Trust
• Foreign Trust
• Electing Small Business Trust (ESBT)
• Qualified Subchapter S Trust (QSST)

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Learning Objectives

• To identify how trusts may protect assets and perpetuate family wealth over multiple generations
• To identify the areas of trusts in connection with disability, charity, life insurance, leveraging gifts, principal residences, and minors

Recommended For

• This online CPE webinar for CPAs is recommended for all the finance professionals such as CFP, PFS, TEP involved in trust and estate planning for their clients.
• This IRS approved CE course is recommended for EAs, AFSPs, and other tax professionals desiring to learn the aspect of trust and estate planning for tax planning.

Who Should Attend?

Webinar Qualifies For

• 2 CE Credit for Certified Financial Planner (US) (Approval No. 290810)
• 2 CE Credit for Wealth Management Certified Professional (WMCP)
• 2 CPD Credit for Trust and Estate Practitioners (TEP)
• 2 CE Credit for Tax Professionals (Approval No. GEHNZ-T-00190-20-S)
• 2 CE Credit for Retirement Income Certified Professional (RICP)
• 2 CPD Credit for Personal Financial Specialist (PFS)
• 2 CE Credit for Financial Services Certified Professional (FSCP®)
• 2 CE Credit for Annual Filing Season Program (AFSP)
• 2 CE Credit for California Registered Tax Preparers(CRTP) (Approval No. 6273-CE-0201)
• 2 CPE Credit of Taxes for Certified Public Accountants (CPA-US)
• 2 CE Credit for Certified Senior Advisor (CSA)
• 2 CE Credit for Chartered Advisor in Senior Living (CASL)
• 2 CE Credit for Chartered Financial Consultant (ChFC®)
• 2 CE Credit for Chartered Special Needs Consultant (ChSNC)
• 2 CE Credit for Enrolled Agents (EA) (Approval No. GEHNZ-T-00190-20-S)

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