Family Trusts: Planning to Preserve, Protect and Transfer Wealth for Your Clients (Completed)

Date: Thursday, October 17, 2019
Instructor: Steven G. Siegel
Begin Time:  12:00pm Pacific Time
1:00pm Mountain Time
2:00pm Central Time
3:00pm Eastern Time
CPE Credit:  2 hours for CPAs
2 hours Federal Tax Related for EAs and OTRPs
2 hours Federal Tax Law for CTEC

Clients often seek guidance on how to best set aside money, property and investments for family members, friends and other individuals they want to help — their beneficiaries. These clients often want these assets to be managed according to specific parameters with special protections.

This is where family trusts can be established to accomplish these objectives and benefit other parts of the client's financial and estate plan. Family trusts may take different forms and, if properly created as to avoid classification as a business entity and the advantages and disadvantages of taxing the income to the grantor, they can present several opportunities for tax savings. Family trusts can be funded without gift tax cost while reducing the settlor's gross estate and producing family income tax savings through the shifting of income-generating assets from the estate owner to the trust and its beneficiaries, presumably in lower income tax brackets.

Presented by noted estates and trusts practitioner, author and educator, Steven G. Siegel, J.D., LL.M., this insightful session will provide a practical primer on family trusts, describing what they are and how they are most commonly used to achieve a range of objectives for clients. This convenient and helpful two-hour CPE webinar is designed for practitioners who want to understand how family trusts can be used to preserve, protect and transfer wealth. Mr. Siegel will discuss the fundamental concepts, terminology, and uses of family trusts, so you can feel more confident in your discussions with clients regarding trusts.

All tax preparers, accountants, attorneys and financial planners who advise clients on tax and estate matters need to understand what family trusts are and how they can help shield assets and save taxes, and serve other very practical uses. The session's program materials include a comprehensive and detailed outline prepared by Mr. Siegel for later study and reference. And, to reinforce your understanding and get help on your most pressing issues, you will have opportunities to ask questions directly to Mr. Siegel live during the program.

Who Should Attend
This course is essential for CPAs, tax preparers, accountants, enrolled agents, CFPs, tax attorneys and other professionals who advise clients on tax, retirement and estate planning, and other wealth management matters.

Topics Covered

  • Why are family trusts useful and necessary?
  • What are the elements of a family trust?
  • Trusts used to protect the interest of the grantor
  • Trusts to benefit the family as a whole
  • Trusts to benefit a surviving spouse
  • Trusts to benefit minor children
  • Trusts to hold life insurance proceeds
  • Trusts to benefit multiple generations of the family
  • Trusts to include benefits for charities
  • Trusts to address special family assets (S corporation shares, homes, business property, etc.)

Learning Objectives

  • Recognize what family trusts are and how they can be used to accomplish a range of client objectives
  • Describe to clients the different types of family trusts and their advantages and disadvantages


Instructional Method
Group: Internet-based

NASBA Field of Study
Taxes (2 hours)

Program Prerequisites

Advance Preparation

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