Trust Fundamentals: A Practical Primer for Tax Practitioners (Completed)

Date: Monday, December 11, 2023
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
2 hours Estate Planning for CFP

This two-hour CPE course provides a practical primer on trusts, identifying and describing the most commonly used trusts, and explaining how they are used to achieve a range of objectives for clients. This insightful session is designed for the tax practitioner with a beginner's knowledge of trusts and how they can be used to preserve, protect and transfer wealth.

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

  • Basic characteristics and elements of trusts
  • Why are trusts useful and necessary?
  • Living trusts
  • Testamentary trusts generally
  • Unified credit shelter bypass trust
  • Using trusts to secure the benefit of the Marital Deduction
  • Trust planning for children
  • Spousal limited Access Trust
  • Life Insurance Planning with Trusts
  • Generation"Skipping transfer tax planning using dynasty trusts
  • S Corporation Trust Planning: Qualified Subchapter S Trust (QSST)
  • S Corporation Trust Planning: Electing Small Business Trust (ESBT)
  • Estate Freezing Transactions: Sale to an Intentionally Defective Grantor Trust
  • Transferring wealth with no Gift Tax cost: Using the GRAT
  • Leveraging the Transfer of a personal residence by using a Qualified Personal Residence Trust (QPRT)
  • Planning with Charitable Trusts

Learning Objectives

  • Identify basic characteristics and elements of trusts
  • Describe the different types and basic uses of trusts for clients
  • Recognize the advantages and disadvantages of different types of trusts
  • Describe beneficiaries
  • Identify a limitation of a living trust
  • Differentiate types of trusts and how they apply


Instructional Method
Group: Internet-based

NASBA Field of Study
Taxes (2 hours)

Program Prerequisites

Advance Preparation

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