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

Date: Thursday, September 19, 2019
Instructor: Steven G. Siegel
Begin Time:  9:00am Pacific Time
10:00am Mountain Time
11:00am Central Time
12:00pm Eastern Time
CPE Credit:  2 hours for CPAs
2 hours Federal Tax Related for EAs and OTRPs
2 hours Federal Tax Law for CTEC

Learn How to Use Family Trusts to Achieve a Range of Objectives for Clients
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 addressing 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.

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, grantor and non-grantor trusts, etc.)

Learning Objectives

  • Describe what family trusts are and how they can be used to accomplish a range of client objectives
  • Recognize how to explain 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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