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OnDemand Course

Funding Trusts in Estate Planning

Learn how to recognize trust funding issues and avoid major pitfalls down the road.

Many advisors have assisted their clients with preparing trust documents or preparing other estate planning documents, but have failed to adequately protect the client and his or her family from costly probate issues or even a potential disaster. The most common practices often fall short of giving the client the perceived protections. This topic helps the persons responsible for trust and estate planning to understand how first to identify which assets need to be protected and then how to recommend solutions that will actually provide protection from creditors, from costly probates and even from lengthy Will contests. The material also explains the various methods available to protect a client's business and personal assets and how to best recommend passing those assets upon the client's death in a manner that provides the least cost and most asset protection for the beneficiaries. This information is critical for practitioners who regularly advise clients on trust matters as well as those who provide advice to clients with large amounts of nonexempt assets.

Runtime: 95 minutes
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Why Lorman?

Over 33 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

Purpose of Trust Funding

  • Reasons for Funding Trust
  • What Interests Can Be Used to Fund Trusts
  • What Interests Pass by Operation of Law
  • Community Property Considerations

Types of Trusts

  • Revocable
  • Irrevocable

Types of Assets

  • Personal Property
  • Bank Accounts
  • Publicly Traded Securities/Brokerage Accounts
  • Real Property (Homestead vs. Other Real Estate)
  • Business Entities
  • Retirement Assets
  • Life Insurance and Annuities
  • Other Interests

Tax Implications of Funding

  • Income Tax
  • Gift Tax
  • Trust Design Issues That Affect Tax Implications

How to Handle the Trust That Never Got Funded

  • Revocable
  • Irrevocable
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More Program Information

Why Lorman?

Over 33 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 Course

This course was last revised on February 27, 2018.

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

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

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Why Lorman?

Over 33 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

Alan L. Stroud, J.D., CPA

Alan L. Stroud, J.D., CPA

Beck & Associates, PLLC

  • Partner in the office of Beck & Associates, PLLC
  • Practice emphasizes all aspects of estate planning and probate, asset protection planning and business planning
  • Conducts regular seminars and workshops on numerous topics relating to estate planning and probate
  • Membership/Certification information: State Bar of Texas; Board Certified Estate Planning and Probate by the Texas Board of Legal Specialization; Certified Public Accountant (Texas)
  • LL.M. degree, New York University School of Law; J.D. degree, University of Tulsa College of Law; B.A. degree, University of Texas at Arlington; B.B.A. degree in accounting, University of Texas at Arlington
  • Can be contacted at [email protected] or 281-440-4777
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Why Lorman?

Over 33 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: 399858
Published 2018
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