What CPAs Should Know About Trust Instruments (TRIT)

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(800) 342-3197 if you wish to inquire about registering.

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Overview

2.0 Credits
ONLINE

This is a survey course on the intergenerational transfer of property -- focusing on what the CPA should know about trust instruments. It will cover a broad number of topics ranging from the fundamental legal principals necessary for the trust and estate practitioner to understand, to the ability of language in the trust instrument to accomplish a certain tax result.

Objectives

  • Understand the fundamental legal principles of trust instruments
  • Utilize trust instruments to accomplish certain tax results

Major Topics

  • Legal definitions & principals involving estates & trusts
  • Basic principles regarding property ownership
  • Types of trusts commonly used
  • Trust accounting fundamentals
  • Certain clauses that are important to understand
  • Formula valuation clauses
  • Requirements for a trust to be a qualified designated beneficiary of an IRA
  • Using IRD to fund charitable bequests

Designed For

CPAS and trust and estate practitioners

Prerequisite

None

Advanced Preparation

None