Income and Fiduciary Tax Issues for Estate Planners, Part 1 and Part 2 Out of Stock
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September 2018
Wednesday & Thursday, September 19 & 20, 2018
Income and Fiduciary Tax Issues for Estate Planners, Part 1 and Part 2
Program Description
Understanding fiduciary income taxation – the taxation of grantor and non-grantor trusts, complex and simple trusts – is essential to trust planning. It impacts the type of trust chosen, how it’s structured and administered. Recently changes to federal tax law have added to the complexity of fiduciary income taxation. The tax treatment of trust income and accounting for distributions and expenses varies depending on the type of trust involved and how “Distributable Net Income” is allocated. The 3.8% on distributable net income adds a significant planning consideration when you advise trusts. This program will provide you with a real-world guide to the essential rules, timeframes, planning techniques and traps of the taxation of trusts.
Day 1: September 19, 2018:
- Fiduciary income taxation framework and rules for estate and trust planners
- How fiduciary and income tax planning differ from each other
- Planning for fiduciary taxation v. planning for individual and corporate tax purposes
- Types of trusts – simple, complex, grantor – and differing tax rules for each
- Treatment of “Distributable Net Income,” including impact of 3.8% tax
- Understanding “Trust Accounting Income,” and impact of Prudent Investor Rule
Day 2: September 20, 2018:
- Practical income allocation for simple, complex and grantor trusts
- Specific allocation rules for DNI – Tier System, Separate Share Rule, 65 Day Rule, specific bequests
- Charitable giving – tax treatment and practical impact
- Treatment of depreciation, administrative expenses, and allocation to income
- Trust terminations – capital loss carryover and excess deductions
Faculty:
Jeremiah W. Doyle, IV is senior vice president in the Boston office of BNY Mellon Wealth Management, where he provides integrated wealth management advice to high net worth individuals on holding, managing and transferring 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 a contributing author of “Understanding and Using Trusts,” all published by Massachusetts Continuing Legal Education. Mr. Doyle received his B.S. from Providence College, his J.D. form Hamline University Law School, and his LL.M. in banking from Boston University Law School.
Each program will run from 11:00 a.m. to 12:00 p.m. M.T. (60 minutes each).
- CLE Pass Price *FREE! - exclusions may apply
- Standard Price $109.00 USD
- Member Price $79.00 USD
- General Credits 2.00
- Ethics Credits
- EDI Credits