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Non-Grantor Trusts in Elder Law Planning: Specific Trust Strategies and Key Tax Considerations

Recording of a 90-minute CLE/CPE video webinar with Q&A

This program is included with the Strafford CLE Pass. Click for more information.
This program is included with the Strafford CPE+ Pass. Click for more information.
This program is included with the Strafford All-Access Pass. Click for more information.

Conducted on Tuesday, May 16, 2023

Recorded event now available

or call 1-800-926-7926

This CLE/CPE course will provide attorneys and advisers serving elderly clients with a focused review of key strategies and tax implications of the use of non-grantor trusts. The panel will discuss the most effective trust structures, avoiding pitfalls that would derail Medicaid eligibility, and tactics to ensure asset protection and tax savings for clients.

Description

When integrating estate with long-term care planning, elder law practitioners and tax advisers may consider the use of non-grantor trusts. Counsel must know precisely the types of trusts available, the particular trust terms, and the tax implications.

Generally, non-grantor trusts are not taxed to the grantor, and such an individual is not treated as the owner of the trust for tax liability purposes. The grantor also cannot be a beneficiary or trustee and relinquishes control of the trust assets and the right to amend, revoke, or terminate the trust.

Our panel will explain the difference between grantor and non-grantor trusts and instances where a non-grantor trust and related rules can assist a client. The panelists will also review specific drafting mistakes and explain drafting approaches for trusts, including understanding and incorporating income, estate, and gift tax consequences.

Listen as our authoritative panel of elder law and estate planning counsel outlines best practices for the use of non-grantor trusts for estate and long-term care planning. The panel will explain how to achieve maximum asset protection and preservation in the most tax-efficient manner possible.

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Outline

  1. Type of trust: grantor vs. non-grantor
  2. Non-grantor trust rules and key provisions
  3. Tax implications of non-grantor trusts
  4. Best practices for elder law attorneys

Benefits

The panel will discuss these and other issues:

  • What is a non-grantor trust?
  • What are the non-grantor trust rules?
  • What are the income tax differences between grantor and non-grantor trusts?
  • What are the key considerations when determining when to draft grantor and non-grantor trusts?
  • What are the income tax implications of non-grantor trust status?

Faculty

Burner, Britt
Britt Burner
Partner
Burner Prudenti Law

Ms. Burner, Esq. is a partner at Burner Law Group, P.C., a boutique law firm concentrating in the areas of Elder Law,...  |  Read More

Nolfo, Matthew
Matthew J. Nolfo
Partner
Matthew J. Nolfo & Associates

Mr. Nolfo practices in the areas of Estate Planning and Elder Law and works with clients on their estate planning...  |  Read More

Access Anytime, Anywhere

Strafford will process CLE credit for one person on each recording. CPE credit is not available on recordings. All formats include course handouts.

To find out which recorded format will provide the best CLE option, select your state:

CLE On-Demand Video