Event Description

This is a survey course on the intergenerational transfer of property — focusing on what the CPA should know about trust instruments. It will cover a broad number of topics ranging from the fundamental legal principals necessary for the trust and estate practitioner to understand, to the ability of language in the trust instrument to accomplish a certain tax result.

Designed For

CPAS and trust and estate practitioners

Objectives

Understand the fundamental legal principles of trust instruments Utilize trust instruments to accomplish certain tax results

Major Subjects

Legal definitions & principals involving estates & trusts Basic principles regarding property ownership Types of trusts commonly used Trust accounting fundamentals Certain clauses that are important to understand Formula valuation clauses Requirements for a trust to be a qualified designated beneficiary of an IRA Using IRD to fund charitable bequests

Prerequisites

A foundation in estate and gift tax and a working knowledge of estate and trust income taxation

Instructions

None