BarbriSFCourseDetails
  • videocam Live Webinar with Live Q&A
  • calendar_month February 9, 2026 @ 1:00 p.m. ET./10:00 a.m. PT
  • signal_cellular_alt Intermediate
  • card_travel Tax Preparer
  • schedule 110 minutes

Utilizing Irrevocable Trusts in Estate Plans: Tax Savings and Considerations

Basis Step-Up and Revenue Ruling 2023-2, IDGTs and ILITs

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About the Course

Introduction

This webinar will point out the value of utilizing irrevocable trusts in estate plans. Our panel of astute trust and estate advisers will explore the primary uses of irrevocable trusts, specific types of irrevocable trusts, and the pros and cons of incorporating them into an estate plan.

Description

Irrevocable trusts are useful vehicles often used in well-constructed estate plans. A grantor transfers assets into the trust, which is managed by a trustee, for the beneficiaries chosen by the grantor. Unlike revocable trusts, these trusts cannot be modified or terminated once established.

Irrevocable trusts serve many purposes, including protecting assets, providing for special needs children, and charitable giving. Specific irrevocable trusts, intentionally defective grantor trusts (IDGTs), and irrevocable life insurance trusts (ILITs) can be incorporated in estate plans to remove assets or life insurance, creating significant estate tax savings.

Recently, the IRS issued Revenue Ruling 2023-2, which stipulates when, and if, assets held in a trust receive a step-up in basis to fair market value at death. Tax advisers working with trusts and estates need to understand the nuances of irrevocable trusts in estate plans.

Listen as our panel of seasoned estate tax advisers discusses incorporating irrevocable trusts in an estate, the tax consequences of irrevocable trusts, and recent legislation regarding their use.

Presented By

Bhakti Shah
Partner
PKF O'Connor Davies, LLP

Ms. Shah has over 10 years of experience in public accounting with a strong focus on Trusts and Estates. She has been involved in providing outstanding tax advisory, planning and compliance services to clients, both nationally and internationally. Ms. Shah has also worked with high-net-worth individuals guiding them through complex mitigation strategies, retirement planning and charitable giving.

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Credit Information

  • 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).

Date + Time

  • event

    Monday, February 9, 2026

  • schedule

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

I. Irrevocable trusts in estate plans: introduction

II. Irrevocable vs. revocable trusts

III. Primary uses

IV. IDGTs

V. ILITs

VI. Taxation

VII. Preserving basis step-up

The panel will cover these and other critical issues:

  • Common uses of irrevocable trusts in estate plans
  • Revenue Ruling 2023 and basis step-up
  • How IDGTs and ILITs are used in wealth transfers
  • Tax consequences and considerations of irrevocable trusts

Learning Objectives

After completing this course, you will be able to:

  • Identify common uses of irrevocable trusts in wealth transfers
  • Determine how irrevocable trusts are taxed for income and estate tax purposes
  • Decide when to use an irrevocable trust in an estate plan
  • Ascertain how irrevocable trusts are utilized to mitigate estate taxes
  • 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.


BARBRI, 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

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

BARBRI CE webinars-powered by Barbri-are backed by our 100% unconditional money-back guarantee: If you are not satisfied with any of our products, simply let us know and get a full refund. Contact us at 1-800-926-7926 .