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Grantor Trust Liabilities: An Income Tax Analysis

Learn the complex income tax issues associated with grantor trusts and maintain your position as an authority on trusts.

The sale to an intentionally defective grantor trust is one of the most powerful and versatile estate and asset protection strategies available. Proper employment of this strategy can allow a trust maker to transfer significant assets to successive generations with minimal or no gift tax consequences. Transferred assets can be protected from the trust maker's and beneficiaries' creditors and are often excluded from the trust maker's and beneficiaries' estates for estate tax purposes. However, perhaps no other strategy requires a detailed understanding of the interaction of income taxes, particularly when and how gains are recognized, and the estate tax. Deeply understanding these rules can make the strategy hugely successful, while failing to understand the way these different sections of the code impact a transaction will drastically reduce or even negate the benefits to the trust maker client.

93 minutes
Certificate of Completion
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Why Lorman?

Over 34 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

The Fundamentals - Setting the Stage

  • A Fact Pattern
  • The Intentionally Defective Grantor Trust
  • The Sale
  • Who Pays What Tax

Then What

  • The Grantor Dies
  • Grantor Status Terminates While Grantor Lives
  • Sale of Assets by the Grantor Trust
  • Post Mortem Planning

Maximizing the Advantage

  • Choice of Jurisdiction
  • Adding Flexibility and Leveraging the Techniques

Quirks and Tips

  • Special Assets - Special Considerations
  • A Holistic Planning Approach

Tax and Practical Aspects of Business Succession Planning

  • Preparation
  • Solutions
  • The Transaction
  • Preserving and Protecting the Enterprise Value
  • Begin With the End in Mind

Preparation

  • Owner's Goals
  • Understanding the Players
  • Dangers, Opportunities, Solutions (D.O.S.) Analysis
  • Interplay of Estate Planning and Business Succession

Solutions

  • Establishing Price
  • Staging the Company
  • Cross Purchase Agreements
  • Employee Purchases
  • Sale to Intentional Grantor Trust

The Transaction - Taxation and Other Pitfalls

  • Assets Sale, or Stock Sale
  • Cash or Note

Preserving and Protecting Enterprise Value - After Transition

  • Asset Protection
  • Estate and Estate Tax Planning
  • A New Financial Reality
  • Perpetuating the Wealth in the Family
  • The Advisors Role
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Why Lorman?

Over 34 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

Applications have not yet been submitted for Delaware, Idaho, Kentucky, Maine, New Hampshire, Ohio, Oklahoma, South Carolina, and Wyoming CLE for this course. However, if you are interested in obtaining CLE for any of the listed states or have any additional credit questions please email us at [email protected] or call us at 866-352-9540.

This course was last revised on March 22, 2019.

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

  • CA MCLE 1.5
     
  • Lorman Business Center, LLC. is a State Bar of California approved MCLE sponsor and this course qualifies for 1.5 CLE hours of participatory credit.
     
  • WA CLE 1.5
     
  • This program has been approved by the Washington State Board of Continuing Legal Education for 1.5 hours of A/V credit under the Law & Legal Procedure category.
     

To earn each credit Lorman offers through the OnDemand learning platform, you need to watch 100% of the program. Also, for certain credits you will need to fulfill additional requirements which will be displayed on the "credits" tab when viewing the course.

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

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Why Lorman?

Over 34 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

Kevin D. Quinn, J.D.

Kevin D. Quinn, J.D.

Legacy Counsellors, P.C.

  • Founder and president of Legacy Counsellors, P.C., an estate and business planning law firm, serving successful individuals and families throughout the country
  • AVVO, superb rating
  • Member of the Wealth Counsel and Elder Counsel
  • Accomplished estate and wealth strategies planner
  • Founder and instructor of Wealth Strategies Institute, LLC, a professional education institute which provides continuing education to Certified Public Accountants, Certified Financial Planners, attorneys, development officers and insurance professionals
  • Frequent speaker and has written and collaborated on numerous publications including Generations, Strictly Business, and Giving
  • Has successfully implemented the strategies presented in numerous jurisdictions for 20 years
  • Graduate of the Esperti Peterson Master’s Program
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Why Lorman?

Over 34 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.

All of your training, right here at Lorman.

Pay once and get a full year of unlimited training in any format, any time!

  • Live Webinars
  • OnDemand Webinars
  • MP3 Downloads
  • Course Manuals
  • Audio Recordings*
  • Executive Reports
  • White Papers and Articles
  • Sponsored Live Webinars

Additional benefits include:

  • State Specific Credit Tracker
  • Members Only Newsletter
  • All-Access Pass Course Concierge

* For audio recordings you only pay shipping

Questions? Call 877-296-2169 to speak with a real person.

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Product ID: 405181
Published 2019
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