Avoiding Procedural and Tax Complexities When Naming Minors in your Estate Plan
Date: Friday, September 19, 2025
Instructor: Klaralee R. Charlton
| Begin Time: |
11:00am Pacific Time
12:00pm Mountain Time
1:00pm Central Time
2:00pm Eastern Time |
| CPE Credit: |
2 hours for CPAs
2 hours Federal Tax Related for EAs and OTRPs
2 hours Federal Tax Law for CTEC |
|
NOTE: Go to My Professional Profile in your CCH CPELink account settings to ensure your name, and PTIN number; matches your PTIN card
Many estate plans are designed to benefit younger generations, including minor children, grandchildren, nieces, and nephews. However, naming minors as beneficiaries of financial accounts or real estate can create unexpected legal and administrative challenges.
This course examines the implications of designating minors as beneficiaries and explores strategies to streamline the post-death claim process. Participants will learn how to structure wills and trusts to protect a minor’s inheritance while minimizing legal hurdles and unnecessary administrative burdens for families. Practical solutions for optimizing estate plans will be discussed to ensure smooth and efficient asset transfers.
Topics Covered
- Default legal and administrative outcomes when minors are named as direct beneficiaries
- Steps for collecting and managing funds on behalf of a minor beneficiary
- Structuring asset transfers to minors to minimize legal and administrative burdens
- Trustee and administrator responsibilities in managing a minor’s inheritance
- Trust planning strategies for minors, including provisions for irresponsible beneficiaries
Learning Objectives
- Explain the default legal and administrative outcomes when minors are named as direct beneficiaries of financial accounts and real estate
- Outline the necessary steps for collecting and managing funds on behalf of a minor beneficiary
- Evaluate the most effective methods for transferring assets to minors to achieve intended estate planning goals while reducing administrative complexity
- Understand the responsibilities and obligations of a trustee or administrator managing a minor’s inheritance
- Recognize common terminology used for trusts designed to protect inheritances from irresponsible beneficiaries
Level
Basic
Instructional Method
Group: Internet-based
NASBA Field of Study
Taxes (2 hours)
Program Prerequisites
None
Advance Preparation
None
