The Complete Trust Workshop - Connecticut Society of CPAs

Overview

The use of trusts will continue to undergo changes in the current year. Clients need to be informed why planning is essential in these changing times. The purpose of this course is to explore the many beneficial issues of trusts, an essential element in estate planning. This course gives insights and practical pointers concerning trusts of every shape and size after tax reform. Clients will be eager to review their estate plans in light of recent and proposed legislation.

Objectives

Identify the areas of trusts in connection with disability, charity, life insurance, leveraging gifts, principal residences, and minors

Understand the role played by a marital deduction trust and a credit shelter bypass trust

Explain how trusts may protect assets and perpetuate family wealth over multiple generations

Highlights

Timely coverage of breaking tax legislation

Guide to legislative changes and their impact on trust planning

Introduction to trusts with emphasis on typical provisions

Revocable living trusts

Common testamentary trust arrangements -- Bypass trusts, QTIP trusts, and other marital trusts

Asset protection trusts

Sophisticated trusts for estate planning and asset transfer -- GRATs, GRUTs, and QPRTs

Charitable trusts -- Charitable remainder trusts, charitable lead trusts, and pooled income funds

Irrevocable life insurance trusts

Medicaid trusts: special needs and Miller

Trusts for minors -- Sections 2503(b) and 2503(c), and other trusts

Dynasty trusts

Section 461(l) as applied to trusts and estates

Trusts to hold S corporation stock

Special problems of estates and trusts relating to the 3.8-percent tax on investment income and specific solutions

Increased scrutiny of donor advised funds

Designed For

Accounting and Financial Professionals who wish to have a complete understanding of the various uses of trusts

Prerequisites

A basic course in estate and gift tax and a basic course on estate and trust income taxation

Preparation

None

Notice

By registering for this program and, accordingly, receiving the eMaterials, you’re acknowledging that you understand both the copyright restrictions on your eMaterials and the CTCPA cancellation policy.

Fees

Credits

Specialized Credits

Level

Code

Vendor

Fields of Study

Leader(s):

Joseph Nicola Jr., Surgent McCoy CPE, LLC

Leader Bios

Joseph Nicola Jr., Surgent McCoy CPE, LLC

Joe Nicola is a Tax Partner with more than thirty-five years of experience in public accounting. Joe has experience in many diverse areas of taxation, including the taxation of and planning for individuals, family offices, and various forms of business entities, such as corporations, partnerships, and limited liability companies. Joe is particularly experienced in federal and multi-state tax matters that affect numerous industries and niches, including private equity, investments, natural resources, manufacturing, distribution, high technology, securities, and start-up businesses. He has consulted on technically complex matters, such as retirement planning, succession planning in the context of a family office, securities, partnership and corporate reorganizations and liquidations, and international tax matters. While in public practice, Joe also served for many years as an adjunct member of the faculty with Duquesne University’s MBA and Master of Science in Taxation/Accountancy programs, as well as with Robert Morris University’s Master of Taxation program. His course load included Corporate Taxation, Advanced Corporate Taxation, Reorganizations (Mergers and Acquisitions), Taxes as a Basis of Managerial Decisions, and Taxation of Derivatives. He is also a published author of CPE/CLE texts and industry articles, and a frequent professional speaker. Mr. Nicola received his BS degree in Business Administration from Robert Morris University and his JD degree from the University of Pittsburgh School of Law.

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