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Description
This course will focus on the intergenerational transfer of property and will focus on what CPAs should know about trusts and estates. It will cover many topics ranging from fundamental legal principles of trusts and estates to how language in the trust instrument accomplishes a particular tax result. Our experts will also discuss the legal definitions and principles of estates and trusts, the basic principles regarding property ownership, and the types of trusts commonly used. They will also delve into trust accounting fundamentals and the specific clauses that are important to understand, including formula valuation clauses.
Learning Objectives
Determine how to read and understand estate planning instruments - Identify basic fiduciary accounting principles - Recognize select planning opportunities and traps - Identify the requirements for a trust to be a qualified designated beneficiary of an IRA Determine how to use IRD to fund charitable bequests