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Course/Product Description
Title:

The Book of Trusts

SKU:PA-1001946
Format: Self-Study Course
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Description:

New types of trusts offer a variety of tax-wise ways you can protect your client's hard-earned wealth while keeping control over how and when their money is spent.

In 32 succinct pages, The Book of Trusts shows how your clients can use trusts to dodge probate, avoid Medicaid liens, save for their children's education, transfer income-generating assets into lower tax brackets, shelter their wealth from creditors, provide for their surviving spouse ... and more!

Table of Contents

INTRODUCING THE WORLD OF TRUSTS

  • Trusts Offer Flexibility
  • A Less Taxing View of Trusts
  • A Little History Lesson
  • How This Report Can Help
  • Buying Peace of Mind

GETTING STARTED

  • The Players
  • Table 1: Common Trusts
  • Trustees Call the Shots
  • Leave an Escape Hatch
  • Replacing the Trustee
  • Don't Cut Corners on Legal Advice
  • Trust Tax Brackets
  • Tax Matters
  • A Tax-Wise Approach
  • Revocable v. Irrevocable Trusts

REVOCABLE LIVING TRUSTS

  • Expense
  • Delays
  • Publicity
  • Multiple Probate
  • Avoiding Probate
  • Right for You?
  • Assets That Bypass Probate
  • Naming a Successor Trustee
  • Retitling Your Assets
  • Worst-Case Protection
  • Shelter From Medicaid Lien
  • Two Tax Issues

MINOR'S TRUSTS

  • Custodial Account or Trust?
  • Custodial Accounts
  • Long-Term Trusts
  • Gift-Tax Rules Apply
  • Special Provisions
  • Making the Final Choice

PRESERVATION TRUSTS

  • Sprinkle Trusts
  • Pick the Right Trustee
  • Curbing Spendthrifts

Q-TIP TRUSTS

  • First Marriages
  • Protection of Surviving Spouse
  • Relief of Intra-Family Stress
  • Emergency Care
  • Invading the Principal
  • Post-Mortem Tax Planning
  • When the Second Spouse Dies
  • Playing the Waiting Game
  • Taxpayer Victories in Court
  • Tax Court Overturned
  • In the Survivor's "Best Interests"
  • Handling a Closely Held Business

LIFE INSURANCE TRUSTS

  • When Children Own the Policy . . .
  • Out of Harm's Way in a Trust
  • Paying the Premiums
  • Crummey Consequences
  • To the IRS, Powers Are Bogus
  • Other Trust Rules
  • Best Defense: Start Fresh
  • Off on the Right Foot
  • Two Deaths, One Payment
  • Testing Insurability

CHARITABLE REMAINDER TRUSTS

  • A Case in Point
  • Table 2: Straight Sale and Reinvestment
  • Options Add Luster
  • Tax Advantages and More
  • Table 3: Charitable Remainder Trust
  • Including the Heirs
  • Using a CRT As a Retirement Plan
  • Not for Everyone
  • Upper and Lower Limits
  • Funding Trusts for the Disabled

CREDIT SHELTER TRUSTS

  • Estate/Gift Tax Credit
  • Spousal Shelter
  • How the Tax Credit Works
  • Solution: A Bypass Trust
  • The Importance of Being Equal
  • One Wrong Word and the IRS Wins
  • Beneficiary + Trustee Spells Trouble
  • Beyond the $11,000 Limit on Gifts
  • Legal-Even With 18 Beneficiaries

RETAINED INTEREST TRUSTS

  • GRATs and GRUTs
  • Lower Means Higher

PERSONAL RESIDENCE TRUSTS

  • Reversionary Interest
  • Split Shifts to Reduce Risk
  • A Capital (Gains) Idea
  • Take Advantage of Gain Exclusion

S CORPORATION TRUSTS

  • Grantor Trusts
  • 'Section 678' Trusts
  • Qualified Subchapter S Trusts
  • Testamentary Trusts
  • Successor Trusts
  • Electing Small Business Trusts
  • Tax-Exempt Qualified Retirement Plan Trusts

GENERATION-SKIPPING TRUSTS

  • Expanding the Exemption
  • How to Use the GST Exemption
  • Where to Invest

ASSET PROTECTION TRUSTS

  • Safety in the Cook Islands
  • Trimming the Target
  • Your Mission: Control
  • Home-Grown Asset Protection Trusts

INVESTMENT TRUSTS

  • Real Estate Investment Trusts
  • Shopping for REITs
  • Royalty Trusts
  • A Good Tax Marriage
  • Unit Investment Trusts

APPENDIX

  • Table 4: Federal Gift/Estate Tax Rates for U.S. Citizens and Residents
  • Table 5: Gift and Estate Tax Exemption Amounts
  • How to Calculate the Tax Due

GLOSSARY

About The Provider: The Tax Strategist is the one-stop practice-building advisory service that helps you:
  • Earn more business from your existing clients
  • Win new clients
  • Spend less time staying up to date on new tax laws
  • Build your reputation as a tax strategist, not just a tax preparer
Grow your practice with our monthly print newsletter and our quick-reading special reports.
Price: $49.95
More Info: Contact Us For More Information
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