Charitable Remainder Trusts: Income Tax, Inherited IRAs, Key Considerations for Trust and Estates Counsel
Mechanics of CRTs Under Current Tax Law, Deduction of Interest, Estate Tax Impact, CRAT, CLAT
Recording of a 90-minute CLE/CPE video webinar with Q&A
This CLE/CPE course will provide trust and estates counsel guidance on utilizing charitable remainder trusts (CRTs) for income tax and estate planning. The panel will discuss the mechanics of CRTs under current tax law, deduction of the charitable remainder interest, impact on the estate tax, and key challenges for counsel. The panel will also discuss the possibility of utilizing CRTs to stretch inherited IRAs and other planning techniques.
Outline
- Applicable rules and legal framework
- Key elements of CRTs
- Types of CRTs
- Income and estate tax planning
Benefits
The panel will review these and other key issues:
- What are the legal framework and applicable rules for CRTs?
- What are the key elements of CRTs?
- What are the various types of CRTs, and what factors must be considered in determining which will provide the most benefit to clients?
- How can you properly structure a CRT for an income tax deduction and timing of trust income?
- How can you ensure gift-tax efficient transfers to remainder beneficiaries?
- How can CRTs be utilized to stretch inherited IRAs?
Faculty
Jessica R. Diaz
Member
Sherman & Howard
Ms. Diaz is a member in Sherman & Howard’s Estate and Tax Planning group, where she focuses her practice on... | Read More
Ms. Diaz is a member in Sherman & Howard’s Estate and Tax Planning group, where she focuses her practice on sophisticated estate, tax, and business succession planning. works closely with clients to address a variety of planning needs and designs creative solutions that integrate each client’s family values and dynamics with sophisticated wealth transfer strategies. Her practice also includes business, marital and charitable planning; estate and trust administration; advising trustees, personal representatives, and beneficiaries; and probate litigation. Ms. Diaz has experience with contested estate and trust matters and fiduciary counseling (including will and trust contests, trust reformations, will and trust construction, accounting actions, and claims of breach of fiduciary duty). Her charitable planning work includes advising clients on charitable giving techniques (including the use of IRAs for charitable giving and the establishment and operation of private foundations, donor-advised funds, charitable trusts, and public charities); counseling nonprofit and tax-exempt organizations from conception to dissolution; and assisting nonprofit and tax-exempt organizations with mergers, acquisitions, and affiliations.
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Elizabeth T. Meck
Senior Vice President
Northern Trust
As a member of the Trust Advisory team, Ms. Meck provides fiduciary and legal expertise in the implementation of... | Read More
As a member of the Trust Advisory team, Ms. Meck provides fiduciary and legal expertise in the implementation of financial, estate and tax plans for high net-worth individuals, entrepreneurs, and families. Before joining Northern Trust, she practiced as an attorney, specializing in all areas of estate and wealth transfer planning, fiduciary advising, trust and estate administration, and probate litigation. Most recently, she was a member of the Fiduciary Solutions group at Holland & Hart LLP in Denver.
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