Estate and Trust Primer WEBCAST

Overview

Protect your clients’ assets and shield their estates from increased taxation brought about by the changing tax code. This course will help you understand the tax obligations of trusts and estates and how these obligations affect beneficiaries. The course provides exercises and examples that reflect the calculation and allocation of taxable income and its presentation on the appropriate forms. You will also learn how to prepare Form 1041 and the accompanying schedules.

Highlights

Types of trusts. Trustee powers. Recognition and realization of income. Elements of an estate. Taxation of trusts and estates. Basic concepts of estate planning.

Prerequisites

None.

Designed For

CPAs. Financial advisers. Estate attorneys.

Objectives

When you complete this course, you will be able to: Identify the elements of a trust. Determine where a trust has situs. Recognize the difference between principal and income as defined by the Uniform Principal and Income Act (UPAIA). Identify tax payment and reporting requirements for estates and trusts. Distinguish between simple trusts and complex trusts. Determine when a grantor has a reversionary interest. Recall how pooled income funds are taxed. Recall the filing requirements for estates and trusts.

Preparation

None.

Notice

None.