Advanced Planning With Trusts 2024
2.00 Credits
Member Price $89
Non-Member Price $119
Overview
This course will cover advanced techniques related to income, gift and estate tax planning using trusts, especially the use of irrevocable trusts. Topics include creating irrevocable trusts without losing control over the assets placed into the trust by using trust protectors, retaining the ability to unwind the trust, and drafting irrevocable trusts that are defective for income and transfer tax purposes. Additionally, you’ll learn about the use of irrevocable trusts for state income tax planning (ING trusts), federal estate tax planning (focusing on IDGTs), asset protection (domestic and offshore trusts), using trusts to qualify for government benefits, international estate planning and pre-immigration tax planning.
Highlights
- Trust obstacles and pitfalls
- Revoking irrevocable trusts
- Trust protectors
- Estate planning through trusts
- Tax planning with trusts
- INGs and IDGTs
- Asset protection through domestic and foreign trusts
Prerequisites
General knowledge of income, estate and gift taxes.
Designed For
CPAs, attorneys and financial planners.
Objectives
- Identify income tax, gift tax and estate tax aspects of various types of trusts
- Recognize how to avoid Proposition 13 reassessment and how to avoid the trigger of the due-on-sale clause
- Recall estate planning and asset protection planning uses of different trusts
- Identify advanced tax, estate, succession, retirement, special needs and asset protection planning using trusts
- Recognize common obstacles and pitfalls, such as selection of trustee and property tax reassessment, and how to plan around them
Preparation
None
Leader(s):
Leader Bios
Jacob Stein, CalCPA Education Foundation
Jacob Stein, Esq., JD, LLM, is a partner with the law firm Klueger and Stein, LLP, in Los Angeles. The firm’s practice is limited to asset protection, domestic and international income and estate tax planning and structuring complex business transactions. Mr. Stein received his law degree from the University of Southern California, and his Master’s of Law in Taxation from Georgetown University. He has been accredited by the State Bar of California as a Certified Tax Law Specialist and is AV-rated (highest possible rating) by Martindale-Hubbell. Mr. Stein is an author of numerous tax and asset protection articles and technical manuals and a frequent lecturer to various attorney, CPA and other professional groups. He is an adjunct professor of taxation at the CSU, Northridge Graduate Tax Program.
Non-Member Price $119
Member Price $89