Advanced Planning with Trusts

Trusts are infinitely flexible if properly structured and drafted. They can be used not only to avoid probate and plan for incapacity, but also to reduce state income taxes, reduce estate taxes, protect assets from claims of creditors, qualify for government benefits, and avoid or minimize U.S. taxation of foreign investors. Course materials are an extensive white paper that can be your go-to resource on these topics.

Learning Objectives:

1. Examine why trusts are flexible, what they are, and how to draft them

2. Identify issues applicable to most trusts and asset transfers to trusts

3. Review how to properly use trust protectors to retain control over and access to assets placed into irrevocable trusts

4. Discuss intentional nongrantor trusts, intentionally defective grantor trusts, and other types of trusts used for tax planning

5. Address how trusts can be used to protect assets from third-party creditors and to qualify for government benefits