When is a Trust Advisable for your Clients (or their Heirs) and what is DNI (and how to achieve Optimal Tax Treatment )
Friday, September 29, 2023
10:15 AM – 11:15 AM MST
Location: PCC: North 122
CE: 1 CFP CE Credit(s)
Complexity Level: Intermediate
Many clients ask their financial advisor if a trust is advisable. This session will explore when a trust is advisable for a client and what type of trust is appropriate. Gary will discuss revocable trusts, special needs trusts, irrevocable trusts, dynasty and protective trusts and many more. In addition, this session will explore the Income taxation of trusts and estates . Is it possible to minimize trust income taxes? Can charitable contributions be made from an irrevocable trust (or an estate)? What is DNI and why is it important? Who pays taxes on capital gains? The trust or the beneficiary?
Learning Objectives:
Explain what DNI is and how trusts and estates are taxed
Recognize what provisions should be included in Trusts and Wills to insure income tax flexiblity
Describe how to advise beneficairies or Trustees of irrevocable trusts or estates on when to make distributions to beneficiaries or charities to minimize overall income taxation
