Evaluating Trust Documents for Tax Consequences: Trust Types, Distribution and Termination Clauses, Beneficiary Powers
Note: CLE credit is not offered on this program
Recording of a 110-minute CPE webinar with Q&A
This course will explain common provisions found in trust documents that have meaningful tax consequences. Our panel of trust veterans will identify clauses found in trust documents that affect distributions, termination, and taxation of trusts and trust beneficiaries.
Outline
- Types of trusts
- Basis considerations
- Beneficiaries and powers
- Distributions and taxation
- Finalizing the trust
- Other income tax considerations
Benefits
The panel will review these and other critical issues:
- Determining tax differences between revocable and irrevocable trusts
- How the type of trust influences date of death step-up
- Identifying support and discretionary distribution clauses in the trust document
- Deciding when a trust is terminated based on the language in the trust document
Faculty
Griffin H. Bridgers
Member
Hutchins & Associates
Mr. Bridgers' practice encompasses all areas of private wealth and family business. In addition to estate... | Read More
Mr. Bridgers' practice encompasses all areas of private wealth and family business. In addition to estate planning and estate administration, he is experienced in mergers and acquisitions, taxation, business transactions, franchising, commercial contracts, asset protection, executive compensation, employee benefits, qualified and non-qualified retirement plans, and nonprofit organizations. He counsels closely-held and family businesses, and nonprofit organizations, with their planning, succession, and liquidity needs in a variety of industries including tech, restaurant and retail, healthcare, manufacturing, construction, real estate, financial services, consulting, and professional staffing.
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Jeremiah W. (Jere) Doyle, IV
Senior Vice President
Bank of New York Mellon
Mr. Doyle provides clients with integrated wealth management advice on how to hold, manage and transfer their... | Read More
Mr. Doyle provides clients with integrated wealth management advice on how to hold, manage and transfer their wealth in a tax efficient manner. He is the editor and co-author of Preparing Fiduciary Income Tax Returns, a contributing author of Preparing Estate Tax Returns and Understanding and Using Trusts and a contributing author of Drafting Irrevocable Trusts in Massachusetts. He is a lecturer in law in the Graduate Tax Program at Boston University School of Law.
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