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Fundamentals of Beneficiary Defective Inheritor's Trust

Understand how to transfer business operations to future generations without overpaying the Internal Revenue Service using the Beneficiary Defective Inheritor Trust. Many wealthy clients that have developed and run a family business are concerned with the transfer of that business to future generations without enriching the Internal Revenue Service because of the transfer. By using the Beneficiary Defective Inheritor Trust (BDIT), this can be accomplished using legal drafting techniques in conjunction with current law, regulations, and case rulings. The client would not lose control of their business that is required in many other planning techniques. The techniques involved require coordination between the lawyer, CPA, financial advisor, valuation expert, and the client. They are all working to affect the transfer of the business in a manner that will not expose the current and future generations to creditor problems because of lawsuits or divorce. The BDIT also has provisions which will allow for changes in the document to deal with changes in future family dynamics.


Runtime: 87 minutes
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Why Lorman?

Over 32 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

Client's Wish List

Set up of BDIT

  • Gift by Non-Beneficiary
  • Sale of Business and Trust
  • Grantor Trust Rules for Taxes
  • Asset Protection
  • Dynasty Trust

Basis Planning

Seed Money vs. Guarantees

  • 10% Rule
  • Guarantees

Advantages

  • Control
  • Estate Tax Avoidance
  • Asset Protection
  • Situs Choice
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Why Lorman?

Over 32 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 May 22, 2019.

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

  • Arizona CLE 1.5
     
  • CA MCLE 1.5
     
  • CT CLE 1.5
     
  • HI CLE 1.5
     
  • IL CLE 1.5
     
  • ME CLE 1.5
     
  • MT CLE 1.5
     
  • NJ CLE 1.8
     
  • NV CLE 1.5
     
  • NY 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.

MP3 Download

  • Arizona CLE 1.5
     
  • CA MCLE 1.5
     
  • CT CLE 1.5
     
  • HI CLE 1.5
     
  • IL CLE 1.5
     
  • ME CLE 1.5
     
  • MT CLE 1.5
     
  • NJ CLE 1.8
     
  • NV CLE 1.5
     
  • NY 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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More Program Information

Why Lorman?

Over 32 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

Michael W. Halloran, CFP, AEP, ChFC, CLU

Michael W. Halloran, CFP, AEP, ChFC, CLU

Northwestern Mutual

  • Wealth Management Advisor at Northwestern Mutual
  • Enjoys working with high net worth clients in growing and protecting their estate
  • Awarded admission into the Estate Planning Hall of Fame in 2015
  • Speaks around the country talking in estate, insurance, and investment planning
  • Professional designations; AEP (Distinguished), CFP, CLU, ChFC, RHU, REBC, RICP, & LITCF
  • Featured in publications including; National Underwriter, Capital Executive, New York University Review, Money, Life Association News, Life Insurance Selling, USA TODAY, New York Times, Chicago Tribune, Congressional Quarterly, Dow Jones and News Wire
  • Member of the National Association of Estate Planners and Councils (NAEPC), National Association of Insurance and Financial Advisors (NAIFA), and the Society of Financial Service Professionals
  • B.S. degree, Florida State University; M.S.F.S. degree, American College of Financial Services; M.S.M. degree, American College of Financial Services
  • Can be contacted at [email protected] or 904-399-8308
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Why Lorman?

Over 32 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: 405509
Published 2019
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