Learn How to Use Family Trusts to Achieve a Range of Important Objectives for Clients
Professional advisors often find themselves serving clients who are interested in setting aside their money, property and investments for family members, friends and other individuals they want to help — their beneficiaries. These clients often want funds set aside to be managed according to specific parameters with special protections. Family trusts are often established to accomplish these objectives and work with other parts of the client's financial and estate plan.
Family trusts may take different forms and, if properly created so as to avoid classification as a business entity and the hazards of the taxability of the income to the grantor, they can present several opportunities for tax savings. Family trusts can be funded without gift tax cost while reducing the settlor's gross estate and producing family income tax savings through the shifting of income-generating assets from the estate owner to the trust and its beneficiaries, presumably in lower income tax brackets.
Presented by noted estates and trusts practitioner, author and educator, Steven G. Siegel, J.D., LL.M., this insightful session will provide a practical primer on family trusts, identifying and describing what they are, how they are most commonly used, and how they are used to achieve a range of objectives for clients. This convenient and helpful two-hour CPE webinar is designed for practitioners who want to understand how family trusts can be used to preserve, protect and transfer wealth. Mr. Siegel will discuss the fundamental concepts, terminology, and uses of family trusts, so you can feel more confident in your basic practical knowledge in client discussions regarding trusts.
Speaker: Steven G. Siegel
Program Topics
- Why Are Family Trusts Useful and Necessary?
- What Are the Elements of a Family Trust?
- Trusts Used to Protect the Interest of the Grantor (Living Trusts)
- Trusts to Benefit the Family as a Whole
- Trusts to Benefit a Surviving Spouse
- Trusts to Benefit Minor Children
- Trusts to Hold Life Insurance Proceeds
- Trusts to Benefit Multiple Generations of the Family
- Trusts to Include Benefits for Charities
- Trusts to Address Special Family Assets (S Corporation Shares, Homes, Business Property, etc.)