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BUILDING TRUST EXPERTISE - TAXATION AND ESTATE
PLANNING
Course Description: This course introduces students to basic fiduciary income tax and estate
planning concepts. It begins with tax basics, including terminology and
how income tax is calculated. The trust taxation discussion covers the
tax implications for grantor and charitable trusts, as well as trust
accounting income. Students will also learn about distributable net
income (DNI) -- what it is and how to calculate it for simple and
complex trusts. Students will move on to transfer taxes, including
gift, estate, and generation skipping transfer taxes. This covers
special rules for these taxes, ways to minimize taxes, and how to
calculate the various taxes. Next, students will learn about basic
estate planning, including why estate planning is important, things to
consider, and advantages and disadvantages of making lifetime gifts.
Finally, students will learn about estate planning with the marital
deduction.
Audience:
New Trust Administrators and Trust Associates
Learning Objectives:
After completing this course, students will be able to:
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Define basic terms.
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Explain how trusts are taxed.
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Calculate distributable net income.
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Minimize transfer taxes.
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Calculate gift, estate, and generation-skipping
transfer taxes.
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Describe why estate planning is important.
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Identify considerations when developing an estate
plan.
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Use the marital deduction to maximize estate planning.
Prerequisites:
Building Trust Expertise - Trust Administration or equivalent knowledge
and experience, including a basic understanding of the trust business.
Course Credits:
ICB credits: 7.0 CTFA (TAX);
CEU credits: 0.5
Delivery Method:
This course is available in the following format:
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