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Concurrent Session Onsite and Online

ENG2358. Reading a Will and Trust Documents (EST, TAX, PFP)

In this fast-paced, interactive session, we’ll examine key language in a Will and trust agreement to break down the most important provisions in plain English. We’ll also explain how an when a revocable trust becomes irrevocable and the tax implications. Last, we’ll explain the timing and tax considerations when a credit shelter trust, marital trust, or trust for another beneficiary is created after the death of the trustor.

Learning Objectives:

  • Understand the interplay between a pour over will and a revocable trust.
  • Appreciate the significance of formula provisions in a trust agreement and how they work.
  • Analyze typical language in a trust agreement pertaining to distributions of income and principal and connect this language with preparation of the fiduciary income tax return.
Date/Time
CPE Credits
1.5
NASBA Field of Study
Taxes
Level
Intermediate
Prerequisites
3-4 years in the Profession
Advanced Preparation
NA
Session Tags
PFP
EST
TAX
CFP