October 28, 2014
12:00 – 1:00 p.m.
1.00 MCLE hours, including 1.00 Professional Responsibility MCLE credit hours (PMCLE credit subject to approval)
Fiduciary and income taxation – the taxation of grantor and non-grantor trusts, complex and simple trusts – have a logic all their own. Familiar tax concepts for individuals and business entities do not apply or apply in non-intuitive ways. Understanding how income and gain are calculated in trusts, when they are reported and by whom – the trust itself or a beneficiary – are essential concepts for estate planners to know. Understanding these complexities is essential to minimizing adverse tax consequences in planning a client’s estate. This program will provide estate planners with a real-world guide to the essential concepts, timeframes, planning techniques and traps of the taxation of trusts. Part 1 of 2.