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Description
This session provides a practical guide to the trustee’s administrative responsibilities, alongside key income tax concepts essential for estate planning practitioners. Topics include distributable net income (DNI), preparation of Form 1041, and compliance considerations, with an emphasis on real world application.
Learning Objectives
1. Identify a trustee’s core administrative responsibilities in trust and estate administration and understand how those duties intersect with fiduciary income tax obligations.
2. Explain the concept of distributable net income (DNI) and its role in determining income taxation for trusts, estates, and beneficiaries
3. Prepare and analyze Form 1041, recognizing common compliance issues and practical considerations in real‑world fiduciary administration.