Tax Issue Spotting for Lawyers who Draft Trusts
February 25 @ 4:00 pm – 5:00 pm
Webinar Description
Estate Planning and Elder Law attorneys often advise clients to restructure assets – often putting them in trust. Whether the goal is to avoid probate, reduce future transfer taxation, or minimize countable resources, transferring assets means changing legal ownership, and any change in ownership could have tax consequences that the planner cannot ignore. Some transfers might have no tax impact at all, others might have an impact that is insignificant, and others might have substantial tax consequences, which become a larger problem if they are a surprise to the client. Recommending and implementing trust planning without considering all potential tax consequences is a recipe for disaster.
In this webinar, we will focus on spotting the tax issues that matter – or could matter – when trusts are being considered. We will cover:·
- What taxes we need to worry about and why
- Tax benefits that clients won’t want to lose (and how not to lose them)
- The basics of trust income taxation
- The relationship between grantor trust status and estate inclusion (and how to trigger either, neither, or both)
- And more.
We will poll the audience on some issues and fact-check a few hypothetical trusts to see what issues we can spot and which issues are easy to miss. After this presentation, attendees should understand the basics of the taxes that can impact clients who create trusts, how to preserve the best tax results in various situations, and how to trigger grantor trust status and estate inclusion. Like it or not, we are all tax lawyers at some level, and we need to be familiar with the basics to avoid unexpected surprises.
InterActive Legal Speaker Series Presents
Teresa L. Bush, Esq
Director of Education
and Support Services
InterActive Legal
Webinar Tips
- After registering, you will receive a confirmation email containing information about joining the webinar.
- Please note that space is limited in the live broadcast, and we therefore recommend that you join early. Those connecting late may not be able to participate in the live event.
- If you are interested in an InterActive Legal Webinar but you are unable to attend the live event, we recommend that you register for the event anyway. After the presentation, all registered participants receive a link to the recorded version of the presentation to view at their convenience.
- Visit our website event page to learn more about what is happening at InterActive Legal.
Continuing Education Credits
InterActive Legal is not an approved Continuing Education (CE) Sponsor. However, several states and regulatory agencies for a variety of professionals that participate on our teleconferences may still receive continuing education credit for their participation. If a participant wishes to receive CE credit for their participation in these teleconferences, they must apply to receive credit on their own and through their individual states and regulatory authorities. It is the responsibility of the participant to file for CE credit and is not guaranteed by the webinar sponsors.
Connect, Collaborate and Create ®
Estate Planning and Elder Law professionals turn to InterActive Legal as their main resource for the latest planning strategies. We provide the most comprehensive productivity system on the market with an easy-to-use document drafting system, extensive continuing education, thought-provoking discussion forums, and more.
