Basics of Trust Administration
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Don't leave your client out to dry. Gain a thorough understanding of designing trusts and executing trust administration best practices.
Despite the perceived complexities behind formation and administration of trusts, a trust is one of the most useful tools to help clients achieve estate planning goals in various circumstances. This topic will unbundle the trust to its basic components. The information will provide a platform that can be used to concisely explain, discuss, and market the use of trusts as a complementary tool to a client's estate planning portfolio.
Identify a trustee's powers and obligations, and the role of a trust beneficiary. Understand general rules governing income taxation of trusts and how it impacts income taxation of trust beneficiaries. This topic will be helpful to new and seasoned advisors who wish to incorporate the use of basic trust structures in a client's estate planning portfolio and will highlight pertinent issues to assist advisors in the efficient management and administration of well-established trusts.
Speaker: Jennifer V. Abelaj, Anta Cisse-Green
Course Content
| Identification |
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- Key Players
- Trust Types
- Beneficiaries
- Jurisdiction
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Trust Modification |
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- Revocable vs. Irrevocable
- Jurisdiction – Choice of Law
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The Trustee |
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- Fiduciary Duties
- Powers
- Succession
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Trust Assets |
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- Real Property vs. Tangible Property
- Funds Held in Financial Institutions
- Digital Assets – Be Wary
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Beneficiaries |
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- Revocable vs. Irrevocable
- Minors
- Class
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Trust Termination and Probate Court |
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- Lifetime Trusts vs. Testamentary Trust Termination
- Probate Court Involved at Death or Modification of Irrevocable Trust
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Applicable Tax Rules |
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