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Webcast

The Life Cycle of a Revocable Living Trust

Explores the intricacies of income and estate taxation for revocable living trusts, equipping professionals with the ability to guide clients through tax filings, EINs, Section 645 elections and more.

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CPE Credits

2 Credits: Taxes
Course Level
Basic
Format
Webcast

Course Description

In the dynamic field of tax and estate planning, the increasing trend of clients creating revocable living trusts presents both a challenge and an opportunity for professionals. Navigating the complex taxation landscape of these trusts from inception to dissolution can be perplexing, often leading to uncertainty in advising clients effectively. Our webcast course is designed to turn this challenge into an opportunity for growth and expertise.

This comprehensive on-demand trust CPE course provides an in-depth analysis of the income and estate taxation of revocable living trusts. We don’t just skim the surface; we delve into the nuances of how these trusts are impacted by taxes at every stage. By demystifying the intricacies of allowable methods of filing income tax returns, changing filing methods, understanding when and how to obtain an employer identification number, and making Section 645 elections, this estate planning CPE course arms you with the knowledge to guide your clients confidently. You’ll transition from uncertainty to proficiency, ensuring your advice is both compliant and strategic.

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Learning Objectives

Upon successful completion of this course, participants will be able to:

  • Describe how income and estate taxes impact revocable living trusts;
  • Identify the allowable methods of filing income tax returns and how to change filing method;
  • Identify when a revocable living trust needs an employer identification number and when it needs a NEW employer identification number; and
  • Understand how to make a Section 645 election – with or without a probate estate.
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Course Specifics

Course ID
WC1823325794
Revision Date
February 24, 2025
Prerequisites

None

Advanced Preparation

None

Compliance Information

NASBA Provider Number: 103220
IRS Provider Number: 0MYXB
IRS Course Number: 0MYXB-T-02610-24-O
IRS Federal Tax Law Credits: 2
CTEC Provider Number: 2071
CTEC Course Number: 2071-CE-01898
CTEC Federal Tax Law Credits: 2

CFP Notice: Not all courses that qualify for CFP® credit are registered by Western CPE. If a course does not have a CFP registration number in the compliance section, the continuing education will need to be individually reported with the CFP Board. For more information on the reporting process, required documentation, processing fee, etc., contact the CFP Board. CFP Professionals must take each course in it’s entirety, the CFP Board DOES NOT accept partial credits for courses.

CTEC Notice: California Tax Education Council DOES NOT allow partial credit, course must be taken in entirety. Western CPE has been approved by the California Tax Education Council to offer continuing education courses that count as credit towards the annual “continuing education” requirement imposed by the State of California for CTEC Registered Tax Preparers. A listing of additional requirements to register as a tax preparer may be obtained by contacting CTEC at P.O. Box 2890, Sacramento, CA, 95812-2890, by phone toll-free at (877) 850-2832, or on the Internet at www.ctec.org.

Meet The Experts

Alice Orzechowski, CPA, CMA, EA

Alice Orzechowski, CPA, CMA, EA, was born and raised in Washington, DC. She holds BS degrees in Economics and Accounting from the University of Maryland, and an MS in Administration and Management from Hood College. She is licensed as a Certified Public Accountant, Certified Management Accountant, and Enrolled Agent. Alice has provided advice on tax-related matters in The Washington Post, The Frederick News Post, in various AARP publications, and on Wall Street Journal Radio, CNN, and Today’s Woman Television and is a national speaker on tax topics. Alice earned the CPA accreditation in 1976, and over the course of her …

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