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Grantor Trusts: How They Are Made and Things to Consider

A grantor trust is a special type of trust in that, for federal income tax purposes, the grantor of the trust is treated as the owner of the trust assets and reports the income, deductions and credits on his or her income tax return rather than on the trust's (or beneficiary's) income tax return. The OnDemand Webinar will review the grantor trust provisions that create grantor trust status and review other issues that arise when dealing with grantor trusts, such as tax reimbursement clauses, toggling grantor trust status, what happens when grantor trust status terminates and recent rulings regarding grantor trusts.


Runtime: 89 minutes
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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

What Is a Grantor Trust?

  • Section 673 - Reversionary Interests
  • Section 674 - Power to Control Beneficial Enjoyment
  • Section 675 - Administrative Powers
  • Section 676 - Power to Revoke
  • Section 677 - Income for the Benefit of the Grantor
  • Section 678 - Grantor Trust to Someone Other Than Grantor
  • Section 679 - Foreign Trusts With U.S. Beneficiaries

Most Often Used Powers to Create a Grantor Trust

Tax Reimbursement Clauses

Toggling Grantor Trust Status

  • Income Tax Consequences of Turning off Grantor Trust Status
  • Exercising the Power to Turn off Grantor Trust Status and Turn It Back One
  • Is Toggling and Abuse?

What Happens When the Grantor Dies?

Recent Rulings Regarding Grantor Trusts

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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 September 20, 2012.

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
     
  • GA 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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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

Jessica Baggenstos

Jessica Baggenstos

Duffy Kekel LLP

  • Attorney with the law firm Duffy Kekel, LLP in Portland, Oregon
  • Focuses her practice on estate planning and administration, business succession planning and charitable giving
  • Has spoken on estate and gift tax and fiduciary income tax topics at meetings of the American Bar Association around the country and the District of Columbia Bar Association
  • Active with the American Bar Association Sections on Taxation and Real Property, Trusts and Estates and the Oregon Bar Association
  • J.D. degree, Boston College Law School; LL.M. degree in taxation, Georgetown University Law Center; B.A. degree in government and international relations, University of Notre Dame
  • Can be contacted at 503-226-1371 or [email protected]
Jeanne L. Newlon

Jeanne L. Newlon

Venable LLP

  • Partner with the law firm of Venable LLP, in Washington, D.C.
  • Practice involves advising individuals of significant means on estate and gift planning issues, including business succession, charitable planning, and planning with life insurance
  • Has spoken on various estate planning topics around the country
  • Member of the District of Columbia Estate Planning Council, former co-editor of the councilís newsletter, former co-chair of the communications committee, former member of the councilís board of directors and current secretary of the council
  • Named as a 2005 to 2006 John S. Nolan Fellow by the America Bar Association Section of Taxation and is the immediate past chair of the Fiduciary Income Tax Committee of the ABA Section of Taxation
  • J.D. degree, with high honors, The George Washington University; LL.M. degree in taxation, Georgetown University; B.S.B.A. degree in finance, University of Florida
  • Can be contacted at 202-344-8553 or [email protected]
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Product ID: 390220
Published 2012, 2019
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