What Advisors Should Know About Trusts and Estates (Completed)

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The “Baby Boomer” generation will transfer, over the next 30 years, “trillions” of dollars of wealth to the next generation. Professionals will have a key role in preparing accountings, preparing returns, and developing appropriate planning strategies. The professionals will want to focus on the estate transfer function (the deceased party) as well as the financial planning opportunity with the recipient of the wealth (the beneficiary party).

Join Michael as he reviews how advisors can benefit from the enhanced knowledge of various legal principles and terms used in estate and trust planning. He will focus on the various types of trusts, their purposes, and important trust clauses that will facilitate your ability to provide your client with effective planning.

Who Should Attend
All tax and estate planning professionals, who desire a better understanding of the legal principles associated with Will and Trust documents. Professionals who wish to review or enhance their skill set in the area of estate and trust planning.

Topics Covered

• Core Estate Planning Documents
• Legal Principles & Definitions Associated with Trusts and Estates
• Review of Various State Provisions for Trusts
• Review of Trust Accounting Concepts including the Uniform Principal and Income Act (UPIA)
• Impact of “Important Trust Clauses”

Learning Objectives

• Understand trust accounting challenges and recognize a professional “niche” consulting area
• Enhance your understanding of legal principles and definitions
• Further your understanding of types of trusts
• Understand the significance of estate, gift and income tax related “clauses”

Level
Intermediate

Instructional Method
Group: Internet-based

NASBA Field of Study
Taxes (2 hours)

Program Prerequisites
A general understanding of trusts and estates

Advance Preparation
None