NJ Specific

Trusts, Estates & Probate

Trusts and Taxes in New Jersey From A to Z

Credits Available
Credit Status Total
Florida CLE Approved 8 Total
North Carolina CLE Approved 6.5 Total
New Jersey CLE Approved 8 Total
New York CLE Approved 8 Total
Pennsylvania CLE Approved 6.5 Total
OnDemand
6 hours 35 minutes
Daniel Del Collo
Brittney Shearin
W. Curtis Elliott
Andrés Hernández Lossada
With Daniel Del Collo III from The Law Office of Daniel Del Collo III + 3 others
Recorded May 29, 2025
Product ID 100088

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Overview

Understand Tax Consequences and Opportunities of Key Estate Planning Tools

This course offers a straightforward overview of trust tax consequences and planning strategies that will help you minimize tax burdens and ensure IRS compliance. Identify key trust structures that work and don't. Predict tax effects of trusts on grantors and estates. Learn how income tax is incurred, calculated, and reported. Build a solid tax foundation for your practice. Register today!

  • Get a clear overview of current trust and tax laws.
  • Understand tax treatment and consequences of top trust structures.
  • Avoid unnecessary tax burden with effective delineation of income and principle.
  • Understand how the legal aspects of trusts affect accounting.
  • Learn what must and should be done with trust tax returns.
  • Evaluate existing trusts for their effectiveness in minimizing tax.
  • Get a practical overview of what happens and what can be done when a trust becomes irrevocable.
  • Guard your professional reputation with a custom-tailored legal ethics guide for your practice.

Abbreviated Agenda

  1. State and Federal Tax Rules Update
  2. Types of Trusts and How They're Taxed Under the New Tax Laws
  3. Trusts Created for Tax Reduction - What Works and What Doesn't
  4. Trust Taxation: Income, Capital Gains, Distributions
  5. Gift Taxation of Donations and Other Transfers of Trusts
  6. What Happens When a Trust Becomes Irrevocable
  7. Legal Ethics in Trusts Practice

Related Topics

Product ID 100088

Credit Details

Credits Available
Credit Status Total
Florida CLE Approved 8 Total
North Carolina CLE Approved 6.5 Total
New Jersey CLE Approved 8 Total
New York CLE Approved 8 Total
Pennsylvania CLE Approved 6.5 Total
Select Jurisdiction
CLE

Agenda

All times are shown in

  1. State and Federal Tax Rules Update

    1. Income, Capital Gains, and Tax Basis Step-Up
    2. Estate, Gift, GST Tax, and Portability
    3. SECURE Act, TCJA, CARES Act, ARP Act, and Other Recent Federal Laws
    4. Trust Tax Deductions: New Rules You Need to Know
    5. New Charitable Gift Substantiation Rules
    6. State Trust Decanting Statutes

  2. Types of Trusts and How They're Taxed Under the New Tax Laws

    1. Revocable vs. Irrevocable
    2. Simple vs. Complex Trusts
    3. Intervivos vs. Testamentary
    4. Grantor Trust Status and Reporting (Obtaining Grantor Status, Toggling it On and Off, Federal and State Requirements)
    5. Trust Asset Valuation and Tax Consequences

  3. Trusts Created for Tax Reduction - What Works and What Doesn't

    1. Fixing Obsolete Irrevocable Trusts
    2. Marital Trusts
    3. Charitable Trusts
    4. Defective Grantor Trusts
    5. IRA Trusts
    6. QPRTs Today
    7. GST Trust Provisions
    8. Other Tax-Efficient Trust Structures and Provisions
    9. Drafting for Flexibility to Respond to Future Tax Law Changes

  4. Trust Taxation: Income, Capital Gains, Distributions

    1. When a Trust can Use a Grantor's Tax ID and When it Needs Its Own Tax ID
    2. Structuring Trust Income Taxation
    3. Accounting vs. Taxable Income: Taxable Income Calculations
    4. Distributable Net Income
    5. Capital Gains Tax
    6. Basis Management
    7. Trust Deductions, Elections, Expenses
    8. Qualifying for the 199A 20% Deduction
    9. Discretionary Distributions in Lieu of Tax
    10. Tax Consequences of Distributions
    11. Accumulation Distribution for Some Complex Trusts
    12. Form 1041 Preparation
    13. Tax Elections and Other Post-Mortem Tax Planning

  5. Gift Taxation of Donations and Other Transfers of Trusts

    1. Gift Tax
    2. Generation-Skipping Transfer Tax
    3. Valuation Discounts
    4. Lifetime Exemption Amounts and Portability
    5. Marital Deduction, QTIP
    6. Annual Exclusion Gifts
    7. Filing of IRS Form 709

  6. What Happens When a Trust Becomes Irrevocable

  7. Legal Ethics in Trusts Practice

    1. Guarding Confidentiality
    2. Conflicts of Interest When Representing Couples
    3. Fiduciary Liability for Nonpayment of Taxes

Who Should Attend

This basic level online seminar is designed for:

  • Attorneys
  • Accountants
  • Financial Planners
  • Tax Professionals
  • Trustees and Trust Protectors
  • Fiduciaries
  • Estate Planners
  • Paralegals

Speakers

Daniel Del Collo III
Daniel
Del Collo, III
The Law Office of Daniel Del Collo III
Brittney Shearin
Brittney
Shearin
Lawyers With Purpose®
W. Curtis Elliott Jr.
W. Curtis
Elliott, Jr.
Culp Elliott & Carpenter P.L.L.C.
Andrés J Hernández Lossada
Andrés J.
Hernández Lossada
Saltiel Law Group
Speaker bio
Daniel Del Collo III

Daniel Del Collo, III

The Law Office of Daniel Del Collo III
Daniel Del Collo

is the owner of The Law Office of Daniel Del Collo III, where he concentrates his practice in the areas of estate planning, estate administration and elder law, including the drafting of wills, trusts and special needs, guardianships, Medicaid planning, powers of attorneys, and advanced medical directives. His elder law clients also call upon him to handle personal injury, real estate and business law matters. Mr. Del Collo also provides counsel to individuals and families with loved ones suffering from varying types and degrees of dementia such as Alzheimer's, Parkinson's, Huntington's and other neurological diseases. He earned his B.A. degree from Haverford College and his J.D. degree from Rutgers School of Law-Camden.

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Speaker bio
Brittney Shearin

Brittney Shearin

Lawyers With Purpose®
Brittney Shearin

is a legal-technical attorney with a passion for estate planning. She currently serves as the director of legal education at Lawyers with Purpose®, a national membership organization for estate planning attorneys. Ms. Shearin is also the product owner of STEPS™, LWP's proprietary estate planning and Medicaid qualification software. From 2015 to 2020, she honed her expertise as a drafter and practicing estate planning attorney, cultivating a deep appreciation for the art and technical precision involved in drafting estate plans. Ms. Shearin earned her B.A. degree from Wilkes University and her J.D. degree from Syracuse University College of Law. She is admitted to practice law in New York.

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Speaker bio
W. Curtis Elliott Jr.

W. Curtis Elliott, Jr.

Culp Elliott & Carpenter P.L.L.C.
W. Curtis Elliott

is a tax and litigation partner with Culp Elliott & Carpenter P.L.L.C. in Charlotte, North Carolina. He represents corporate clients and individuals in federal IRS and civil and criminal tax litigation matters, state and local tax controversies, and probate litigation matters. Mr. Elliott regularly represents clients in cases before the Internal Revenue Service, U.S. Tax Court, U.S. Court of Federal Claims and Federal District Courts. He also represents closely held corporations and their owners in federal estate tax and gift tax controversies. Mr. Elliott is a co-author of the nationally published book by Clark Boardman Callahan entitled Valuation Practice in Estate Planning and Litigation. He is currently a member of the council of the American Bar Association's Section of Taxation, and a member of the Board of Regents of the American College of Tax Counsel. Mr. Elliott is a member of the North Carolina Bar Association and the South Carolina Bar. He has spoken at many professional seminars and workshops across the country on civil and criminal tax controversy and litigation topics. Mr. Elliott earned his LL.M. degree, highest honors, from George Washington University National Law Center; his J.D. degree from University of South Carolina School of Law; and his undergraduate degree from the University of South Carolina. He is a member of Business North Carolina magazine's Legal Elite Hall of Fame.

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Speaker bio
Andrés J Hernández Lossada

Andrés J. Hernández Lossada

Saltiel Law Group
Andrés Hernández Lossada

is Lead Counsel at Saltiel Law Group, where his practice includes corporate law, international tax and estate planning for domestic and foreign high net worth individuals, and assisting with fully compliant structures, both domestically and abroad, as well as providing succession planning solutions considering tax challenges of global wealth. He has experience advising high net worth individuals and their families on cross-border wealth, investments, and estate planning concerns with particular focus on issues arising from civil law and common law application. Mr. Hernandez also has significant experience advising individuals and fiduciaries in estate, trust, and probate administration, and representing clients on tax controversy matters before the IRS, including streamlined filing compliance procedures. He earned his Abogado LL.B. equivalent from Universidad Católica Andrés Bello, Caracas, Venezuela, his LL.M. degree and Certificate in business administration from Northwestern University School of Law and Kellogg School of Management, his LL.M. degree in taxation from Northwestern University School of Law, Chicago, Illinois and his J.D. degree from Emory University School of Law, Atlanta, Georgia. Mr. Hernandez is a member of the Florida Bar (member, Tax Law Section), American Bar Association and the Society of Trust and Estate Practitioners (STEP).

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Are multiple attendee discounts available?
Yes, the more people you bring from your organization, the more you save. After the first registration, each additional attendee receives a special discount off of their total tuition.
When will the OnDemand be available and how long will I have access to the content?
The OnDemand Video will be available to stream within 14 days of live broadcast date. You will have access to the content for 6 months in your account. If you’re a subscriber, you’ll have access to your course recordings until 7 days after the expiration date of the subscription.
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When you enroll prior to the live event date you will receive access to the live-streaming webinar which will allow you to interact with faculty in real-time. With each course, you will receive access to the content via OnDemand Streaming and the Video Download. Course reference materials are included with each course purchase in a downloadable PDF format.
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