Living Trust Administration Workshop 2024
8.00 Credits
Member Price $299
Non-Member Price $399
Overview
Gain hands-on knowledge while focusing on the trust administration process on the death of the single settlor and the first spouse in a joint settlor trust. In today’s estate tax environment, with a change of the exemption in 2026, the answers to core questions concerning whether to file an estate tax return, make a portability election or make a QTIP election may surprise you. Learn what clauses to look for in the trust; when and how to make portability and QTIP elections; when to use the “Delaware Tax Trap” in place of QTIP election; how to educate the client concerning trust administration; and how to deal with assets outside the trust. Using checklists and forms, understand how to create a practical system for administering the living trust after death.
Highlights
- The steps in Trust Administration
- Delaware Tax Trap -its unique use
- Change of the exemption in 2026 and its impact
- Whether to file a 706 for portability election and/or Q-Tipping the Credit Trust
- Preparation of trust accountings
- Trust administration of Medi-Cal Trusts, QPRT, GRAT and IDGTs
Prerequisites
General knowledge of income, estate and gift taxes
Designed For
CPAs, attorneys and trust and estate planners.
Objectives
- Determine: Proper steps for a particular trust administration and the related estate and income tax issues
- Recognize: Tax, accounting, and funding issues in every administration and educating clients of the need of a trust administration and the importance of your role
- Identify: Assets, provisions in estate plans and the affects on each particular administration and understanding that each administration is situational to the respective facts
Preparation
None
Leader(s):
Leader Bios
David Gaw, CalCPA Education Foundation
David Gaw, Esq., is the co-founder of Gaw Van Male and currently serves as chair of GVM’s Estate Planning Department and Wealth Preservation Group and as a member of the Wine Industry Group. Mr. Gaw is a member of the Executive Committee, Estate Planning, Probate and Trust Law, State Bar of California Board of Legal Specialization. He is a selected international member of the Society of Trust and Estate Practitioners. He also is a certified elder law attorney, National Elder Law Foundation, accredited by the American Bar Association. Mr. Gaw lectures frequently for the State Bar of California, the Continuing Education of the Bar, the Education Foundation and various private groups throughout California and the nation. He has authored the California Trust Administration (CEB) chapters Administering the Single-Person Trust After Settlor’s Death“ and “Subtrust Allocation and Funding on the Death of the First Spouse” and the CEB Action Guides “Marital Deduction Subtrust Funding” and “Administering a Single-Person Trust After Settlor’s Death.”“
Non-Member Price $399
Member Price $299