Tuesday, February 5, 2019, 2:30-3:30pm
Counseling clients about choosing the right trust for their goals is a formidable task of helping them identify what’s truly important to them and then guiding them through an alphabet soup of alternatives, each of which poses tradeoffs.
Some trusts are flexible and offer no tax benefits; others offer substantial tax savings at the cost of control and flexibility.
These and a multitude of other tradeoffs are also complicated by the new tax law which alters the estate and gift tax regime.
But getting the choice right is essential because altering a trust, particularly post-mortem, can be extremely difficult, costly, and produce unforeseen consequences.
This program provides a framework for assessing the different trust alternatives and decision-tree for determining which is best for your client’s specific circumstances.
Part 1 topics include:
- Choosing the right trust for client goals – tax savings, protecting assets from claimants, providing for family, charitable giving
- Counseling clients about decision points in choosing the right trust
- Important non-estate tax considerations in trust selection
- Revocable v. irrevocable trusts – flexibility v. tax benefits
- Use of self-settled trusts to shield assets from claims of creditors and others
Click on the "In Depth" tab for tuition and speaker information.