Trusts continue to grow in planning importance--not only for the wealthiest 1% of Americans, but also for a much broader part of the population. Issues of financial management, asset protection, maturity concerns, matrimonial problems, and tax planning can all be addressed with the use of trusts. There is no better place to use trusts than in the protection and preservation of family assets and, when necessary, the transfer of family assets. This course covers the elements contained in a trust and a provides a survey of a wide range of trusts that are used in all aspects of family planning, including living trusts, life insurance and retirement trusts, trusts to be used in business succession planning, trusts for charities, and trusts for S corporation shareholders--from the simple to the sophisticated.
Upon successful completion of this course, participants will be able to:
- Identify the basic elements of trusts and how they work to make an effective document
- Cite why trusts are useful and necessary
- Identify trusts used to protect the interests of the grantor, children, grandchildren and spouses
- Cite how trusts are used in specific circumstances--for life insurance, retirement plans, charity and more
- Identify some of the more sophisticated trust planning techniques, including GRATs, QPRTs, IDGTs, QSSTs, and ESBTs
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