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Understanding Trusts and the Trust Documents

We will discuss the purpose of a trust; key words used in trust documents and summarize the common types of trusts practitioners may see in practice. We will conclude the session by interpreting a trust document. The tax implications of a trust will be examined while discussing the trust document.

Objectives

Upon completion of the session, the learner will be able to:

• Summarize reasons why taxpayers would need to create a trust
• Name and define the key words practitioners need to look for in a trust document
• Distinguish between the different types of trusts
• Examine a trust document and recognize what a practitioner needs to understand versus what is required legally and not practitioner related

Details

Jaye Tritz, EA, CFP®

Instructor:

Level:

Intermediate

Prerequisites:

Basic knowledge of individual financial planning

Advanced Preparation:

None

Delivery Method: 

Group Live

CPE credits     Designation     Field of study

IRS

2

AFSP

Federal Tax Law Topic

IRS

2

EA

Federal Tax Law Topic

NASBA

2

CPA

Taxes

CTEC

2

CRTP

Federal Tax Law Topic

CFP Board

2

CFP®

Yes

How to Earn CPE

Sessions are first come, first served. Registration is not required for individual sessions. To earn CPE, scan your badge on your way into each session. You do not need to scan on your way out. CPAs will receive an additional form at registration to self-report their time out. We strictly abide by the IRS’ CPE rules and turn badge scanners off ten minutes after each session begins. We cannot award CPE if your badge isn’t scanned.