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Income and Fiduciary Tax Issues, Part II: Live Audio Webcast | WebCredenza*
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9/16/2020
When: Wednesday, September 16, 2020
Log-In: 12:45 PM | Program: 1:00 PM - 2:00 PM
Where: Audio Webcast: WebCredenza

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You will access this CLE program through a third-party website. 

        
Income and Fiduciary Tax Issues for Trust and Estate Planning, Part II

CLE Credits:
1.0  (This program does not qualify for PRACPRO credit)

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.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:

  • 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”
  • Understanding “Trust Accounting Income,” and impact of Prudent Investor Rule

Day 2:

  • 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
Speaker:
TBA

Registration Fee: $65

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866-879-9236.
CREDITS/CERTIFICATE
This program must be completed on the scheduled time and date in order to receive live credit.  Once completed you will receive your certificate from the Maine State Bar Association. This program does NOT qualify for PRACPRO credits.

If viewed after the program you will receive 
general self-study credit provided by WebCredenza  

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866-879-9236

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