Introduction to Trusts
Author: Daniel Johnson
| CPE Credit: |
1 hour for CPAs |
This course provides an introduction to trust fundamentals, including their mechanics, key parties, and common uses. Participants will explore trust accounting, taxation, and the specific trusts utilized in estate planning. The course will also cover the modification and termination of irrevocable trusts to address changing needs and objectives.
Publication Date: May 2025
Topics Covered
- Trust Basics
- Mechanics
- Parties
- Uses
- Duration
- Trust Accounting and Taxation
- Common Trusts Used in Estate Planning
- Modifying or Terminating an Irrevocable Trust
Learning Objectives
- Explain the fundamentals of trusts, including mechanics, parties, uses, and duration
- State trust accounting principles and taxation requirements
- Identify specific types of trusts commonly used in estate planning
- Identify scenarios for modifying or terminating irrevocable trusts
- Explain how to apply trust concepts to estate planning strategies
Level
Overview
Instructional Method
Self-Study
NASBA Field of Study
Specialized Knowledge and Applications (1 hour)
Program Prerequisites
None
Advance Preparation
None
