Funding Trusts in Estate Planning | CLE Course

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Course Details

Course Information

smart_display Format
On-Demand
signal_cellular_alt Difficulty Level
Intermediate
work Practice Area
Estate Planning

Date & Time

event Date
Tuesday, September 17, 2024
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.

$297.00

CLE

ALL

This CLE webinar will provide estate planners with a thorough and practical guide to funding trusts. The panel will discuss funding considerations for both revocable and irrevocable trusts, detailing funding considerations at formation, as well as review and evaluation of trust assets during operation. The panel will also address funding formulas for marital trusts and review funding issues for grantor trusts.

Faculty

Audrey G. Young

Of Counsel

McLane Middleton

Ms. Young focuses her practice in the area of trusts and estates law and taxation. She counsels individuals, families and family offices on estate planning matters and business succession planning, including income tax planning and retirement, marital and charitable planning. She works with RSM tax professionals nationally on trust administration issues and estate and trust planning for individuals, families and family offices. She resolves gift and estate tax return examinations at the state and federal level. She presents nationally at conferences on topical estate, trust and gift tax issues. Her planning expertise is concentrated on the income tax aspects of estate planning, including fiduciary income tax minimization strategies (state and federal), charitable planning, marital planning, retirement planning and opportunities presented by decanting.

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Cristina Coletta Blau

Of Counsel

McLane Middleton

Ms. Blau is Of Counsel with the Trusts and Estates Department at McLane Middleton. Her practice is focused on the creation and analysis of complex custom-drafted estate plans for high net-worth individuals and families. Ms. Blau also works with Trustees and clients in connection with trust decantings and other aspects of complex trust administration. A dedicated non-profit volunteer, she currently serves as a member of the Board of Advisors of the Handel & Haydn Society, where she is a member of the Planned Giving Committee, and as a member of the Harvard University Awards Committee. Ms. Blau previously served as a longtime Board member of the Harvard Alumni Association Board of Directors and the Board of Visitors of The Fenn School, and as a Trustee of The Concord Free Public Library Corporation.

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Description

A critical component of establishing a trust of whatever type is funding the trust. Many planners look at this as "the last step" in setting up a trust, but a sound trust strategy involves not merely transferring title to assets, but making sure that the right assets are transferred and monitoring asset performance to ensure the trust is performing as it should.

There are several steps to funding a trust. Taking an inventory of assets can sometimes determine whether a trust should be revocable or irrevocable. Determining which assets to transfer, and how to transfer those assets--whether by change of title/ownership, assignment of rights, or purchasing assets in the trust's name--is the key technical aspect of trust funding and one which many taxpayers neglect to complete.

In the case of irrevocable trusts, planners typically can assist clients with exchanging or buying and selling the trust if the trust document permits. Estate planners and advisers should monitor the type of assets held in a trust, and their financial performance, to ensure that the trust is properly funded to accomplish the client’s goals.

Listen as our experienced panel provides a practical guide to the funding issues of revocable, irrevocable, grantor, and marital trusts.