Description

Trusts are not cookie-cutter documents. In fact, they can be rather unwieldy, especially in explaining the functions to a client and then having the client comply with the trust terms. This course delves into best practices. Given common scenarios, what are the best trusts to use? And how can the client be best protected?

Instructor: Ciro Poppiti, Esq.

Target Audience

Tax practitioners who advise clients on the benefits of establishing a trust

Course Objectives

Advise individual clients on the benefits of using a trust to achieve their personal goals 

Save clients money in their estate planning

Subjects

Key concepts of trusts, including recent trends; best practices; jurisdiction; and ways to avoid pitfalls

Decanting

Federal estate tax exemption and remaining relevance of trusts

Irrevocable life insurance trusts

The role of family dynamics

Choice of trustee and other fiduciaries

State trust-friendly considerations

Charitable trusts

Delaware Statutory Trusts

Powers of attorney 

Pet Trusts – the emerging necessities

State, county, and local issues

Portability

QTIP issues

Creditor considerations

Potential IRA problems

Problems with re-titling assets

Prerequisites

A basic understanding of simple trusts