2024 MSCPA Annual Convention: Details

Surgent's What CPAs Should Know About Trust Instruments

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Tuesday, July 23, 2024 @ 12:00pm – 2:00pm
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Description

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.

Prerequisites

A foundation in estate and gift tax and a working knowledge of estate and trust income taxation

Highlights

  • 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

Objectives

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

Preparation

None

Credits

Category Amount
Taxation 2.00