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Trusts, Estates & Probate

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Income Taxation of Trusts, Estates, and Individuals

Credits Available
Credit Status Total
Alaska CLE Reciprocity 6 Total
Alabama CLE Approved 6 Total
Arkansas CLE Approved 6 Total
Arizona CLE Approved 6 Total
California CLE Approved 6 Total
Colorado CLE Approved 7 Total
Connecticut CLE Approved 6 Total
Delaware CLE Approved 6 Total
Florida CLE Approved 7 Total
Georgia CLE Approved 6 Total
Hawaii CLE Approved 6 Total
Iowa CLE Approved 6 Total
Idaho CLE Approved 6 Total
Illinois CLE Approved 6 Total
Indiana CLE Approved 6 Total
Kansas CLE Approved 7 Total
Kentucky CLE Approved 6 Total
Maine CLE Approved 6 Total
Minnesota CLE Approved 6 Total
Missouri CLE Approved 7.2 Total
Northern Mariana Islands CLE Approved 6 Total
Mississippi CLE Approved 6 Total
Montana CLE Approved 6 Total
North Carolina CLE Approved 6 Total
North Dakota CLE Approved 6 Total
Nebraska CLE Approved 6 Total
New Hampshire CLE Approved 6 Total
New Jersey CLE Approved 7.2 Total
New Mexico CLE Approved 6 Total
Nevada CLE Approved 6 Total
New York CLE Approved 7 Total
Ohio CLE Approved 6 Total
Oklahoma CLE Approved 7 Total
Oregon CLE Approved 6 Total
Pennsylvania CLE Approved 6 Total
Rhode Island CLE Approved 7 Total
South Carolina CLE Approved 6 Total
Tennessee CLE Approved 6 Total
Texas CLE Approved 6 Total
Utah CLE Approved 6 Total
Virginia CLE Approved 6 Total
Vermont CLE Approved 6 Total
Washington CLE Approved 6 Total
Wisconsin CLE Approved 7 Total
West Virginia CLE Approved 7.2 Total
Wyoming CLE Approved 6 Total
Arizona CPE for Accountants Approved 7 Total
New York CPE for Accountants Approved 7 Total
Washington CPE for Accountants Approved 7 Total
Wisconsin CPE for Accountants Approved 7.2 Total
CPE for Accountants/NASBA Approved 7 Total
Live Online
6 hours
Louis Silverman
Evaleen Davis
Leah Morrison
Gerard Wrynn
Robyn Hicks-Guinn
With Louis A. Silverman from Praesidium Law, PLLC + 4 others

Tue, Jun 23, 00:00 AM – 00:00 PM

Product ID 102001

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Overview

Actionable Tax Tips for Estate Planning

Income tax is one of the top priority drivers when it comes to wealth preservation and transfer. Get the fundamental overview of income taxation of trusts and estates and practical guidance on planning tools to control tax burdens. Register today!

  • Get an update on the governing laws and regulations.
  • Distinguish between taxable and accounting income.
  • Explore common trust deductions and learn how to claim them correctly.
  • Review the key income tax forms and checklists to prevent inconsistencies and errors.
  • Learn how the estate's deductions and administrative expenses are properly recorded.
  • Guard your professional reputation with a tailored legal ethics instruction.

Abbreviated Agenda

  1. Relevant Tax Laws Overview and Update
  2. Checklist of Tax Issues to Consider when Drafting the Estate Plan
  3. Types of Trusts and How They're Taxed
  4. Taxable Income Calculations
  5. Who Owns the Income at the Death of the Decedent?
  6. Trust Deductions, Elections, Expenses
  7. Form 1041 and Schedule K-1 Preparation: What You Need to Know
  8. Deductions and Expenses of an Estate
  9. Legal Ethics

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Related Topics

Product ID 102001

Credit Details

Credits Available
Credit Status Total
Alaska CLE Reciprocity 6 Total
Alabama CLE Approved 6 Total
Arkansas CLE Approved 6 Total
Arizona CLE Approved 6 Total
California CLE Approved 6 Total
Colorado CLE Approved 7 Total
Connecticut CLE Approved 6 Total
Delaware CLE Approved 6 Total
Florida CLE Approved 7 Total
Georgia CLE Approved 6 Total
Hawaii CLE Approved 6 Total
Iowa CLE Approved 6 Total
Idaho CLE Approved 6 Total
Illinois CLE Approved 6 Total
Indiana CLE Approved 6 Total
Kansas CLE Approved 7 Total
Kentucky CLE Approved 6 Total
Maine CLE Approved 6 Total
Minnesota CLE Approved 6 Total
Missouri CLE Approved 7.2 Total
Northern Mariana Islands CLE Approved 6 Total
Mississippi CLE Approved 6 Total
Montana CLE Approved 6 Total
North Carolina CLE Approved 6 Total
North Dakota CLE Approved 6 Total
Nebraska CLE Approved 6 Total
New Hampshire CLE Approved 6 Total
New Jersey CLE Approved 7.2 Total
New Mexico CLE Approved 6 Total
Nevada CLE Approved 6 Total
New York CLE Approved 7 Total
Ohio CLE Approved 6 Total
Oklahoma CLE Approved 7 Total
Oregon CLE Approved 6 Total
Pennsylvania CLE Approved 6 Total
Rhode Island CLE Approved 7 Total
South Carolina CLE Approved 6 Total
Tennessee CLE Approved 6 Total
Texas CLE Approved 6 Total
Utah CLE Approved 6 Total
Virginia CLE Approved 6 Total
Vermont CLE Approved 6 Total
Washington CLE Approved 6 Total
Wisconsin CLE Approved 7 Total
West Virginia CLE Approved 7.2 Total
Wyoming CLE Approved 6 Total
Arizona CPE for Accountants Approved 7 Total
New York CPE for Accountants Approved 7 Total
Washington CPE for Accountants Approved 7 Total
Wisconsin CPE for Accountants Approved 7.2 Total
CPE for Accountants/NASBA Approved 7 Total
Select Jurisdiction
CLE
Other

Agenda

All times are shown in

  1. Relevant Tax Laws Overview and Update

    1. Gift, GST, Estate Tax Rates and Exemptions
    2. Portability
    3. How Trusts are Taxed
    4. State Trust Decanting Statutes
    5. When a Trust can Use a Grantor's Tax ID and When it Needs its Own ID
    6. IRA Planning After the SECURE Acts

  2. Checklist of Tax Issues to Consider when Drafting the Estate Plan

  3. Types of Trusts and How They're Taxed

    1. Revocable vs. Irrevocable
    2. Simple vs. Complex Trusts
    3. Intervivos vs. Testamentary
    4. Grantor Trust Toggling
    5. Trust Asset Valuation and Tax Consequences

  4. Taxable Income Calculations

    1. Taxable Income vs. Accounting Income
    2. Calculating the Distributable Net Income
    3. Tax Consequences of Distributions
    4. Accumulation Distributions for Some Complex Trusts
    5. Discretionary Distributions in Lieu of Tax

  5. Who Owns the Income at the Death of the Decedent?

    1. Probate Assets
    2. Life Insurance
    3. Retirement Benefits
    4. Survivorship and Payable on Death Accounts
    5. Income in Respect of Decedent

  6. Trust Deductions, Elections, Expenses

    1. Trust Tax Deductions
    2. Choosing the Estate's Taxable Year
    3. Recognizing Expenses
    4. Qualifying for the 199A 20% Deduction
    5. Tax Implications of a Trust Becoming Irrevocable
    6. Tax Elections and Other Post-Mortem Planning

  7. Form 1041 and Schedule K-1 Preparation: What You Need to Know

  8. Deductions and Expenses of an Estate

    1. Checklist of Tax Considerations at the Death of the Client
    2. Income Tax Reporting at Estate Administration
    3. Transfer Taxes
    4. Executor Compensation and Other Fiduciary Fees
    5. Charitable Deductions
    6. Allowable Administrative Expenses of the Estate

  9. Legal Ethics

    1. Guarding Confidentiality
    2. Engagement Agreements
    3. Attorney Fees and Client Trust Accounts
    4. Conflicts of Interest
    5. Attorneys Acting as Fiduciaries

Who Should Attend

This program is geared for attorneys. Accountants, estate planners, trust officers, tax professionals, and paralegals may also benefit.

Speakers

Louis A Silverman
Louis A.
Silverman
Praesidium Law, PLLC
Evaleen M Davis
Evaleen M.
Davis
Law Office of Evaleen M. Davis
Leah A Morrison
Leah A.
Morrison
English, Lucas, Priest & Owsley, LLP
Gerard M Wrynn
Gerard M.
Wrynn
Ferguson Cohen LLP
Robyn Hicks-Guinn
Robyn
Hicks-Guinn
Hicks-Guinn Law
Speaker bio
Louis A Silverman

Louis A. Silverman

Praesidium Law, PLLC
Louis Silverman

is an attorney at Praesidium Law, PLLC, where he practices in the areas of estate planning, estate administration, probate law, and related matters. Mr. Silverman is board-certified in estate and trust law by the State Bar of Arizona. His practice emphasizes estate planning, which includes wills and trusts and other estate planning devices; and trust administration and probate, which includes death probate, guardianship, and conservatorship. Mr. Silverman has served as judge pro tem on the Maricopa County Superior Court. He is a member of WealthCounsel, and is a past member of the Elder Law, Mental Health and Special Needs Planning Section of the State Bar of Arizona. Mr. Silverman is a board member emeritus of the Sonoran University of Health Sciences, past president of the Board of Directors of Tempe Leadership and past president of Tempe Community Action Agency. He earned his B.S. degree in business from Arizona State University and his J.D. degree from South Texas College of Law in Houston. Mr. Silverman is admitted to practice in the state courts of Arizona and Texas, U.S. District Court for Arizona and Western District of Texas.

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Speaker bio
Evaleen M Davis

Evaleen M. Davis

Law Office of Evaleen M. Davis
Evaleen Davis

is the principal of the Law Office of Evaleen M. Davis in Plano. She focuses in estate planning, probate and tax planning, including compliance for exempt organizations, as well as asset protection. Ms. Davis is board-certified in estate planning and probate law by the Texas Board of Legal Specialization. She has previously lectured on claims procedures in probate and is a frequent lecturer at the Dallas Police and Fire Pension System Pre-Retirement programs. Ms. Davis earned her B.A. degree from the University of Texas at Arlington and her J.D. degree from Texas Tech University School of Law.

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Speaker bio
Leah A Morrison

Leah A. Morrison

English, Lucas, Priest & Owsley, LLP
Leah Morrison

is an attorney with English, Lucas, Priest & Owsley, LLP in Bowling Green, Kentucky. She concentrates her practice in designing estate, asset protection, and business succession plans in a tax advantageous manner. Ms. Morrison is a member of the American, Kentucky, Louisville, and Bowling Green-Warren County bar associations. She earned her J.D. degree, magna cum laude, from the University of Louisville Brandeis School of Law; her LL.M. degree in taxation, magna cum laude, from the University of Alabama; and her B.A. degree in criminal justice from George Washington University.

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Speaker bio
Gerard M Wrynn

Gerard M. Wrynn

Ferguson Cohen LLP
Gerard Wrynn

is an attorney with Ferguson Cohen LLP. His practice areas include trusts and estates litigation, planning and administration, and real estate. Mr. Wrynn earned his B.S. degree at St. John's University and his J.D. degree at St. John's University School of Law. He is licensed to practice in Connecticut and New York. Mr. Wrynn is a member of the New York State Bar Association, Connecticut Bar Association, Westchester County Bar Association and the Queens County Bar Association.

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Speaker bio
Robyn Hicks-Guinn

Robyn Hicks-Guinn

Hicks-Guinn Law
Robyn Hicks-Guinn

is the principal at Hicks-Guinn Law in Charlotte, North Carolina, where she counsels individuals, small business owners, and families in estate planning, business succession planning and guardianships. Ms. Hicks-Guinn also advises businesses as general corporate counsel. She is a current board member for the Mecklenburg County Bar, the immediate past chair of the Mecklenburg County Bar Estates Division and has served on numerous committees bars, boards and committess in the private and public sector. Ms. Hicks-Guinn earned her B.S. degree from the University of North Carolina at Chapel Hill and her J.D. degree from North Carolina Central University School of Law. She is admitted to practice in North Carolina and U.S. District Court for the Western District.

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