Tax Consequences of Trusts

Agenda / Content Covered

11:00 - 12:00, C. Page Hamrick III

1. Current Federal Tax Regime in Relation to Trusts
   1. Gift/Estate/GST Taxation
   2. Income Taxation
      1. Difference Between Accounting Income and Taxable Income
      2. Grantor Trust Status and Reporting
      3. Tax Consequences of Beneficiary Distributions
2. State Taxation of Trusts
   1. Transfer Taxes
   2. Income Taxation
3. Living vs. Testamentary Trusts for Tax Purposes
4. Tax Consequences of Trusts in Estate Administration

Accreditation Details:

C. Page Hamrick III , J.D., CPA, is the principal of the Charleston law firm of C. Page Hamrick III, Attorney at Law. Mr. Hamrick has concentrated his practice in the areas of divorce law, tax, and corporate estate law. He has served as a family law master, as assistant attorney general, as counsel to the West Virginia Legislature, and as a hearing officer for numerous state agencies. Mr. Hamrick is a certified public accountant. He has testified as an expert witness in matters involving federal and state tax, financial analysis, and real estate. Mr. Hamrick is a member of The West Virginia State Bar, the American Association of Attorney-CPAs, and the West Virginia Society of Certified Public Accountants. He regularly teaches tax and law courses at Marshall University and has taught accounting at West Virginia University-Tech. Mr. Hamrick earned his B.S.B.A. and J.D. degrees from West Virginia University, and his M.B.A. degree from the Marshall University (formerly WVCOGS).