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Charitable Remainder Trust Fundamentals

Gain an understanding of how to implement charitable remainder trusts for your clients. Ninety percent of Americans give to charity regularly. If you don't discuss charitable planning with your clients, you are forfeiting potential business to your competitors. Charitable remainder trusts (CRTs) help your clients combine their estate, tax and financial planning with their charitable dreams. This topic will explain how you can implement charitable remainder trusts for your existing and future clients. We will focus on identifying client situations where a CRT meets your client's goals. We will classify the six CRT types to determine which one best fits your client. We will explore compliance issues including several common traps in managing a CRT along with a discussion of best practices to resolve issues before they arise.


Runtime: 94 minutes
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Why Lorman?

Over 31 years and 1.4 million customers worth of experience providing continuing education. Our passion is providing you world-class training to help you succeed in business and as a professional.

Agenda

Introduction

  • Overview of Charitable Remainder Trusts (CRTs)
  • Six Types of CRTs

- When to Use Each CRT Type

- When Not to Use Each CRT Type

  • Aligning Client Goals With the Right CRT Type

Designing and Drafting the Charitable Remainder Trust

  • Determine Which CRT Type Fits Your Client
  • Drafting the CRT Document

- 20 Reasons to Never Use the IRS Sample CRT Documents

- Five Situations When You Should Use the IRS Sample CRT Documents

- CRT Drafting Tips

  • Choosing the Right Trustee

Funding the Charitable Remainder Trust

  • Discussion of Assets Owned by Clients Including Mutual Funds, Publicly-Traded Securities, Real Estate, Business Entities, Retirement Plans, etc.
  • Picking the Right Asset to Transfer to the CRT

Compliance and the CRT

  • Basic CRT Care and Maintenance
  • Tax Compliance
  • Coordinating the CRT With Other Planning Tools
  • Investing the CRT's Assets

CRT Strategies Implemented by Your Clients

  • Increase Cash Flow
  • Reduce Cash Flow
  • Temporarily Increase Cash Flow
  • Sell a Business
  • Transfer IRAs to Family Members
  • Divorce Planning
  • Selling Real Estate

Bonus

  • 9-Step Roadmap to Creating CRTs
  • Baker's Dozen of CRT Traps
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Why Lorman?

Over 31 years and 1.4 million customers worth of experience providing continuing education. Our passion is providing you world-class training to help you succeed in business and as a professional.

Credits

OnDemand Webinar

This program does NOT qualify, nor meet the National Standard for NASBA accreditation.

Audio & Reference Manual

This program does NOT qualify, nor meet the National Standard for NASBA accreditation.

MP3 Download

This program does NOT qualify, nor meet the National Standard for NASBA accreditation.

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More Program Information

Why Lorman?

Over 31 years and 1.4 million customers worth of experience providing continuing education. Our passion is providing you world-class training to help you succeed in business and as a professional.

Faculty

Gregory W. Baker, J.D., ChFC®, CFP®, CAP

Gregory W. Baker, J.D., ChFC®, CFP®, CAP

Renaissance Philanthropic Solutions Group

  • Executive vice president of Renaissance Administration Philanthropic Solutions Group
  • Consulted on more than 19,000 charitable remainder trust documents
  • Drafted over 4,000 charitable remainder trust documents
  • More than 25 years of full-time focus on charitable planning
  • Lectures nationally on CRT planning including ten times at the National Conference on Philanthropic Planning
  • Board Member of National Association of Charitable Gift Planners
  • Past president to Charitable Gift Planners Indiana
  • Advisory board member and lecturer for the Chartered Advisor in Philanthropy designation for the American College
  • Former charitable fiduciary risk manager for Merrill Lynch Trust Company and the Merrill Lynch Center for Philanthropy and Nonprofit Management in Princeton, New Jersey
  • J.D. degree, Indiana University
  • Can be contacted at [email protected]
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Why Lorman?

Over 31 years and 1.4 million customers worth of experience providing continuing education. Our passion is providing you world-class training to help you succeed in business and as a professional.

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Product ID: 400249
Published 2017
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