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Intentionally Defective Grantor Trusts

Find out how to effectively plan with Intentionally Defective Grantor Trusts and know the tax issues related to them.

Many estate planning professionals and financial advisors do not fully understand the rules related to intentionally defective grantor trusts (IDGTs), much less how to plan effectively with them and when to recommend them. While they may understand most of the main benefits and features of transactions involving IDGTs, they often have to defer to other professionals when clients ask basic questions about such transactions. Furthermore, many tax return preparers are unable to determine when a trust qualifies as a grantor trust or how to report the income from such trusts. This content provides a general overview of IDGTs and their benefits, how to recognize them, how best to structure them, and when to use them. It also helps professionals develop the ability to identify grantor trusts and to address certain tax issues related to them. Emphasis will be placed on practical considerations, including the effective design of IDGTs and common drafting approaches. While the material will pay particular attention to the sale to IDGT transaction, it will also briefly cover other common uses of grantor trusts.

Runtime: 94 minutes
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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

Nature and Advantages of Intentionally Defective Grantor Trusts

  • Grantor Trust Status
  • Overview of Grantor Trust Rules
  • Common Methods for Achieving Grantor Trust Status

Additional Important Features of IDGTs

  • Dynastic Planning
  • Drafting Flexibility Into the IDGT
  • Spouse as Beneficiary
  • Other Drafting Issues and Techniques

Estate Planning With IDGTs

  • Gifts to IDGTs
  • Sale for a Promissory Note
  • Structuring the Note
  • Use of Guarantees and Collateral
  • Defined Value Clauses
  • Comparison to Grantor Retained Annuity Trusts

Other Common Uses of Grantor Trusts in Estate Planning

  • Grantor Retained Annuity Trusts (GRATs)
  • Irrevocable Life Insurance Trusts (ILITs)
  • Qualified Personal Residence Trusts (QPRTs)
  • Grantor Charitable Lead Trusts (Grantor CLTs)
  • Beneficiary Defective Irrevocable Trusts (BDTs)

Miscellaneous Other Issues

  • Income Tax Reporting Issues
  • Income Tax Consequences Upon Death of Grantor
  • Potential Changes in the Law
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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 course was last revised on October 5, 2017.

Call 1-866-352-9540 for further credit information.

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

Audio & Reference Manual

  • AK CLE 1.5
     
  • Arizona CLE 1.5
     
  • CA MCLE 1.5
     
  • CT CLE 1.5
     
  • GA CLE 1.5
     
  • HI CLE 1.5
     
  • IL CLE 1.5
     
  • ME CLE 1.5
     
  • MO CLE 1.8
     
  • MT CLE 1.5
     
  • NJ CLE 1.8
     
  • NM CLE 1.5
     
  • NV CLE 1.5
     
  • NY CLE 1.5 including Areas of Professional Practice 1.5
     
  • UT CLE 1.5
     
  • VT CLE 1.5
     
  • WA CLE 1.5
     
  • WV MCLE 1.8
     
The CLE Code is ONLY a requirement when applying for CLE Credit in California (for participatory credit), Kansas, New Jersey or New York. Other states do not need to supply the CLE Code to apply for CLE credit.

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

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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.

Faculty

Toby Eisenberg

Toby Eisenberg

Lindquist Eisenberg LLP

  • Partner in the law firm of Lindquist Eisenberg LLP
  • Practice emphasizes all aspects of estate planning, estate administration, wealth transfer planning, asset protection planning, charitable planning, family business planning, estate and trust administration, and estate and trust controversies.
  • More than 17 years of experience
  • Board Certified in Estate Planning and Probate Law by the Texas Board of Legalization
  • Frequent speaker at CLE programs and forums
  • Past president of the Dallas Estate Planning Council
  • J.D. degree, The University of Texas School of Law
  • Can be contacted at [email protected] or 469-917-5976
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Product ID: 397591
Published 2017
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