Most of our clients now have A/B style trusts which, under the current estate tax exclusion, are designed to save 1.5 million plus in estate taxes. After the first spouse dies, our services are needed to determine the tax split of the A/B trusts and to handle the after-death tax filings.
Learn what to do when your client, who has a trust, dies. Focus on living trust basics and how to split the living trust into the after-death trusts. Actual completed A, B & C trust allocations and funding documents will be covered in work case studies along with actual completed forms. California Trust laws (probate code), which impact the Funding process, are incorporated into the seminar. We will also cover the tax basis of assets and trust distributions (DNI & capital gains tax); these are income tax issues impacting all estates and trusts.
Discussions include what to look for in the trust instrument and how the trust wording will impact the tax allocation and funding process. Also, the seminar will address key considerations in funding A/B trusts and tax pitfalls to avoid including forced capital gain tax if the wrong assets are selected to fund the typical after-death trust. Basis and step-up coverage, including the impact of title/ownership on after-death trust funding. The process must be comprehensive, any decision to maximize one trust will also result in minimizing another trust, and thus all interests of income and residual beneficiaries must be considered. Learn what's important in this balancing act.
Dates & Locations
Financial Education Resources is registered with the National Association of State Boards of Accountancy (NASBA) as a sponsor of continuing professional education on the National Registry of CPE Sponsors. State Boards of Accountancy have final authority on the acceptance of individual courses of CPE credit. Complaints regarding registered sponsors may be addressed to the National Registry of CPE Sponsors, 150 Fourth Ave. North, Ste. 700, Nashville, TN 37219-2417 or by visiting the website