BarbriSFCourseDetails
  1. keyboard_arrow_leftBack

Course Details

Course Information
  • smart_display Format

    On-Demand

  • signal_cellular_alt Difficulty Level

    Intermediate

  • work Practice Area

    Estate Planning

Date & Time
  • event Date

    Thursday, October 26, 2023

  • schedule Time

    1:00 p.m. ET./10:00 a.m. PT

  • timer Program Length

    90 minutes

Credit Information

  • This 90-minute webinar is eligible in most states for 1.5 CLE credits.

  • BARBRI is a NASBA CPE sponsor and this 110-minute webinar is accredited for 2.0 CPE credits.

  • BARBRI is an IRS-approved continuing education provider offering certified courses for Enrolled Agents (EA) and Tax Return Preparers (RTRP).

$297.00
CLE
CPE
ALL

This CLE/CPE course will provide trust and estates counsel guidance on utilizing charitable remainder trusts (CRTs) for income tax and estate planning. The panel will discuss the mechanics of CRTs under current tax law, deduction of the charitable remainder interest, impact on the estate tax, and key challenges for counsel. The panel will also discuss the possibility of utilizing CRTs to stretch inherited IRAs and other planning techniques.

Faculty

Jessica R. Diaz
Member
Sherman & Howard

Ms. Diaz is a member in Sherman & Howard’s Estate and Tax Planning group, where she focuses her practice on sophisticated estate, tax, and business succession planning. works closely with clients to address a variety of planning needs and designs creative solutions that integrate each client’s family values and dynamics with sophisticated wealth transfer strategies. Her practice also includes business, marital and charitable planning; estate and trust administration; advising trustees, personal representatives, and beneficiaries; and probate litigation. Ms. Diaz has experience with contested estate and trust matters and fiduciary counseling (including will and trust contests, trust reformations, will and trust construction, accounting actions, and claims of breach of fiduciary duty). Her charitable planning work includes advising clients on charitable giving techniques (including the use of IRAs for charitable giving and the establishment and operation of private foundations, donor-advised funds, charitable trusts, and public charities); counseling nonprofit and tax-exempt organizations from conception to dissolution; and assisting nonprofit and tax-exempt organizations with mergers, acquisitions, and affiliations.

expand_circle_down Expand to View Full Bio expand_circle_up Collapse Bio
Elizabeth T. Meck
Senior Vice President
Northern Trust, Corporation

As a member of the Trust Advisory team, Ms. Meck provides fiduciary and legal expertise in the implementation of financial, estate and tax plans for high net-worth individuals, entrepreneurs, and families. Before joining Northern Trust, she practiced as an attorney, specializing in all areas of estate and wealth transfer planning, fiduciary advising, trust and estate administration, and probate litigation. Most recently, she was a member of the Fiduciary Solutions group at Holland & Hart LLP in Denver.

expand_circle_down Expand to View Full Bio expand_circle_up Collapse Bio

Description

CRTs can provide significant income and estate tax advantages while also satisfying charitable intent. To ensure these advantages for clients, trust and estates counsel must have a complete understanding of the legal framework and tax rules applicable to CRTs.

A CRT is a tax-exempt, irrevocable trust meant to reduce taxable income, support charities, and possibly create a stream of retirement income. The use of either of the various types of CRTs is determined based on client needs and circumstances. In addition, structuring CRTs for income tax deduction, gift-tax efficient transfers, and as a possible option to stretch IRAs requires in-depth knowledge of complex tax rules.

Listen as our panel discusses the mechanics of CRTs under current tax law and the challenges for counsel, as well as offers key income and estate tax planning techniques.

Outline

  1. Applicable rules and legal framework
  2. Key elements of CRTs
  3. Types of CRTs
  4. Income and estate tax planning

Benefits

The panel will review these and other key issues:

  • What are the legal framework and applicable rules for CRTs?
  • What are the key elements of CRTs?
  • What are the various types of CRTs, and what factors must be considered in determining which will provide the most benefit to clients?
  • How can you properly structure a CRT for an income tax deduction and timing of trust income?
  • How can you ensure gift-tax efficient transfers to remainder beneficiaries?
  • How can CRTs be utilized to stretch inherited IRAs?

NASBA Details

Learning Objectives

After completing this course, you will be able to:

  • Understand the tax framework and applicable rules for CRTs
  • Recognize taxpayers who would benefit the most by establishing CRTs
  • Determine how the annual payout for CRTs is determined
  • Ascertain how to properly structure a CRT for an income tax deduction and timing of trust income
  • Understand how to ensure gift-tax efficient transfers to remainder beneficiaries

  • Field of Study: Taxes
  • Level of Knowledge: Intermediate
  • Advance Preparation: None
  • Teaching Method: Seminar/Lecture
  • Delivery Method: Group-Internet (via computer)
  • Attendance Monitoring Method: Attendance is monitored electronically via a participant's PIN and through a series of attendance verification prompts displayed throughout the program
  • Prerequisite: Three years+ business or public firm experience preparing complex tax forms and schedules, supervising other preparers or accountants. Specific knowledge and understanding of estate, gift and trust taxation including various trusts types, the unified credit, and portability.

Strafford Publications, Inc. is registered with the National Association of State Boards of Accountancy (NASBA) as a sponsor of continuing professional education on the National Registry of CPE Sponsors. State boards of Accountancy have final authority on the acceptance of individual courses for CPE Credits. Complaints regarding registered sponsons may be submitted to NASBA through its website: www.nasbaregistry.org.

IRS Approved Provider

Strafford is an IRS-approved continuing education provider offering certified courses for Enrolled Agents (EA) and Tax Return Preparers (RTRP).