May

    Fundamentals of Trust Administration and Fiduciary Income Tax

    12 PM GMT

    The session will review the operational side of trusts including the role of trust accountings and the duties of a trustee.   It will also discuss the income taxation of trusts and fiduciary income tax reporting during estate administration. Topics will include:

    ·         Trust accounting

    ·         Release and indemnification agreements

    ·         What is the UTC?

    ·         Distribution standards

    ·         Fiduciary duties

    ·         Trustee compensation

    ·         What is a Trust Protector

    ·         What is a "directed" trust?

    ·         An introduction to trust decanting

    ·         Informing beneficiaries

    ·         Mechanics of Crummey letters

    ·     Income taxation of trusts and estates

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    CONTINUED LEGAL EDUATION (CLE)

    The ABA will seek 1.5 hours of CLE credit in 60-minute states  and  1.8  hours  of  CLE  credit  in  50- minute states in states accrediting ABA live webinars and teleconferences.* Credit  hours  granted  are  subject  to each state’s approval and credit  rounding rules. NY- licensed attorneys:  This non-transitional CLE program has been approved for newly admitted and experienced NY-licensed attorneys in accordance with the requirements of the New York State CLE Board for 1.5 New York CLE credits.

     

    * Scholarship applications are available upon request. 

    ** Free Law Student registration is for webcast only.  *The ABA does not seek direct accreditation of live webinars and teleconferences in FL, ID, NE, PR, and WY. Some states allow attorneys to earn credit   through   reciprocity   or   self-submission.   View   accreditation information for your state at www.americanbar.org/mcle.

    Event Details

    Format

    Web

    Date

    May 25, 2017

    2017-05-25T12:00:00 2017-05-25T13:30:00 Fundamentals of Trust Administration and Fiduciary Income Tax

    The session will review the operational side of trusts including the role of trust accountings and the duties of a trustee.   It will also discuss the income taxation of trusts and fiduciary income tax reporting during estate administration. Topics will include:

    ·         Trust accounting

    ·         Release and indemnification agreements

    ·         What is the UTC?

    ·         Distribution standards

    ·         Fiduciary duties

    ·         Trustee compensation

    ·         What is a Trust Protector

    ·         What is a "directed" trust?

    ·         An introduction to trust decanting

    ·         Informing beneficiaries

    ·         Mechanics of Crummey letters

    ·     Income taxation of trusts and estates

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