Busting the Bypass Trust in California: What Are The Options? (Audio Only)

When tax exemption amounts were lower, it was common for estate planning to provide for the creation of a bypass trust when one spouse died. Now that exemptions are $11.4 million per person, it will often make more sense to allow assets to appreciate and focus on income tax planning. This program will guide attorneys through the different options available for termination of a bypass trust that is no longer in the client’s best interest, including best practices for terminating and pitfalls to avoid.

Learning Objectives:

1. Review the available options to terminate an unwanted bypass trust
2. Discuss the practical implications to clients and beneficiaries upon termination of a bypass trust
3. Assess the tax implications of termination of a bypass trust