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Overview
Understand Tax Consequences and Opportunities of Key Estate Planning Tools
This course offers a straightforward overview of trust tax consequences and planning strategies that will help you minimize tax burdens and ensure IRS compliance. Identify key trust structures that work and don't. Predict tax effects of trusts on grantors and estates. Build a solid tax foundation for your practice. Register today!
- Get a clear overview of current trust and tax laws.
- Understand tax treatment and consequences of top trust structures.
- Evaluate existing trusts for their effectiveness in minimizing tax.
- Get a practical overview of what happens and what can be done when a trust becomes irrevocable.
- Guard your professional reputation with a custom-tailored legal ethics guide for your practice.
Abbreviated Agenda
- State and Federal Tax Rules Update
- Trusts Created for Tax Reduction - What Works and What Doesn't
- Types of Trusts and How They're Taxed Under the New Tax Laws
- Gift Taxation of Donations and Other Transfers of Trusts
- What Happens When a Trust Becomes Irrevocable
- Legal Ethics in Trusts Practice
Credit Details
Credits Available
There is no credit available on this course.
Select Jurisdiction
Agenda
-
State and Federal Tax Rules Update
-
Trusts Created for Tax Reduction - What Works and What Doesn't
- Fixing Obsolete Irrevocable Trusts
- Marital Trusts
- Charitable Trusts
- Defective Grantor Trusts
- IRA Trusts
- QPRTs Today
- GST Trust Provisions
- Other Tax-Efficient Trust Structures and Provisions
- Drafting for Flexibility to Respond to Future Tax Law Changes
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Types of Trusts and How They're Taxed Under the New Tax Laws
- Revocable vs. Irrevocable
- Simple vs. Complex Trusts
- Intervivos vs. Testamentary
- Grantor Trust Status and Reporting (Obtaining Grantor Status, Toggling it On and Off, Federal and State Requirements)
- Trust Asset Valuation and Tax Consequences
- Trust Taxation: Income, Capital Gains, Distributions
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Gift Taxation of Donations and Other Transfers of Trusts
- Gift Tax
- Generation-Skipping Transfer Tax
- Valuation Discounts
- Lifetime Exemption Amounts and Portability
- Marital Deduction, QTIP
- Annual Exclusion Gifts
- Filing of IRS Form 709
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What Happens When a Trust Becomes Irrevocable
-
Legal Ethics in Trusts Practice
- Guarding Confidentiality
- Conflicts of Interest When Representing Couples
- Fiduciary Liability for Nonpayment of Taxes
Who Should Attend
This basic level online seminar is designed for:
- Attorneys
- Accountants
- Financial Planners
- Tax Professionals
- Trustees and Trust Protectors
- Fiduciaries
- Estate Planners
- Paralegals
Speakers
Speaker bio
Conrad W. Deitrick
is of counsel with Baker Donelson's tax group, advises high net-worth clients on a broad range of estate planning and wealth management matters. He assists clients in creating a strong foundation for lifelong and multi-generational estate planning involving a wide variety of assets. Mr. Deitrick advises clients with respect to their wills and trusts; estate and trust administration; estate, gift, income, and generation-skipping transfer tax matters; resolution of estate and trust controversies; and closely held business planning. He works with clients, co-counsel, financial advisers, and accountants on complex transactions and family settlements involving trusts, closely held business entities, and real estate holdings. Mr. Deitrick also advises clients in the administration of large and small probate estates, including post-death estate planning in a changing tax environment. He is fluent in German, and has represented clients in international estate planning matters, including a trust-related tax petition to the German federal government, offshore trust transactions, and estate planning with German business and investment entities. Mr. Deitrick served in the U.S. Army National Guard as an Infantryman (E-4). During his service, he provided disaster relief to the state of Florida during hurricane season by distributing food and water, and engaging in armed security patrols. He participated in Operation Empire Shield, providing security for Long Island railroad stations and provided security for the 2009 presidential inauguration. Mr. Deitrick earned his B.A. degree from Flagler College and his J.D. degree, cum laude (administrative editor, Georgetown Law Journal,) from Georgetown University Law Center. He is admitted to practice in Maryland.
Speaker bio
Chelsea B. Riggin
is an attorney with Venable LLP, where she advises clients on matters related to tax and wealth planning. Ms. Riggin earned her J.D. degree from William & Mary Law School, where she was executive editor of the William & Mary Journal of Women and the Law. She earned her B.A. degree in sociology, cum laude, from Franklin and Marshall College. Ms. Riggin is admitted to practice in Maryland and Pennsylvania.
Speaker bio
Laura A. Melia
is a principal with Offit Kurman. She is an estates and trusts practitioner with over 30 years of experience. Her experience enables her to analyze situations and tailor solutions to meet specific goals such as minimization of taxes, protection of beneficiaries, avoidance of probate, charitable giving, and planning for disability. To help individuals and families achieve their planning goals, Ms. Melia prepares a variety of estate and tax planning vehicles including wills, revocable trusts, various types of irrevocable trusts, charitable trusts, durable general powers of attorney, advance directives for health care, limited liability companies and private foundations. She represents personal representatives in the administration of estates, preparing accountings, and assisting with the conveyance of real estate and personal property. Ms. Melia also represents trustees in the administration, management and distribution of assets held in trust. She earned her B.A. degree from Loyola College and her J.D. degree from the University of Baltimore School of Law. Ms. Melia is a member of the American Bar Association; Community Foundation of Frederick County, Professional Advisors Council (2009-present), Scholarship Committee (2016-present); Frederick County Bar Association; Citizens for the Preservation of Middletown Valley, Inc., Board of Directors; Frederick Memorial Hospital, Inc., Board of Directors (2012-present); Maryland State Bar Association; Maryland Volunteer Lawyers (1992-present); Monocacy Health Partners, Inc., Board of Directors chairperson (2017-present), member (2016-present); and the Citizens for the Preservation of Middletown Valley, Inc., Board of Directors (2011-present). She is admitted to practice in Maryland and the Supreme Court of Maryland.
Speaker bio
Elizabeth H. Johnson
is a senior associate with SPENCE | BRIERLEY, PC, where she focuses on the areas of estate, trust, and fiduciary litigation, as well as estate administration, and probate law. Ms. Johnson is a member of Baltimore County Bar Association, Anne Arundel Bar Association, Maryland State Bar Association, as well as Association of Certified Fraud Examiners, International Association of Document Examiners, Anne Arundel Estate Planning Counsel, and Baltimore County Provider Council (professional community dedicated to improving lives of older adults). She earned both her B.A. and J.D. degrees from the University of Illinois. She is admitted to practice in the state of Maryland.
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