Estate Planning Strategies Using Irrevocable Trusts 26-27

Overview

Many of our clients are looking for techniques to transfer wealth to their loved ones while minimizing gift and estate taxes. Irrevocable trusts take advantage of the currently high exclusion amount to freeze their estates. This course will analyze the advantages and disadvantages of using a wide variety of noncharitable trusts, such as spousal lifetime access trusts (SLATs), grantor retained interest trusts (GRATs and GRUTs), intentionally defective grantor trusts (IDGTs), qualified personal residence trusts (QPRTs), life insurance trusts (ILITs), domestic asset protection trusts (DAPTs), and dynasty trusts.

Highlights

• The gift, estate, and income tax treatment of irrevocable trusts
• The benefits and risks of spousal lifetime access trusts (SLATs)
• Planning with grantor retained interest trusts (GRATs and GRUTs) and Qualified Personal Residence Trusts (QPRTs)
• When to use life insurance trusts (ILITs) and dynasty trusts
• The effectiveness of domestic asset protection trusts (DAPTs)

Prerequisites

Basic knowledge of the taxation of estates, gifts, and trusts

Designed For

CPAs, attorneys, CFPs, trust officers and other financial professionals.

Objectives

• Examine the changing estate and trust planning environment
• Recognize the opportunities in the gift, estate, and income tax treatment of the many types of irrevocable trusts
• Identify the benefits of a deeper understanding of advanced trust planning

Preparation

None

Notice

This course is offered by a 3rd party vendor. Login instructions will not be accessible in the My CPE Tracker section of the ISCPA website. Login instructions will be emailed directly to you by California Education Foundation (CalCPA).