Description
Trusts are designed to protect beneficiaries – from themselves, other beneficiaries, creditors, and taxes. In some circumstances, it can be advantageous to designate, distribute, or appoint to another trust as a beneficiary of the primary trust. This beneficiary trust can be helpful for managing assets for minors or beneficiaries with special needs, providing asset protection, and maintaining privacy. It also allows for flexibility and customized estate planning strategies, and can be especially helpful in planning around overly broad state income taxes and source income rules that may otherwise affect the original trust or its beneficiaries.
Join us for a look at the different circumstances under which you might want to name, distribute, or appoint assets to a trust as a beneficiary and the right types of trusts for each use.
Taught by two seasoned estate planning attorneys, this webcast explores the nuances and practical applications of naming a trust as a beneficiary, including:
- Transferring assets to other family trusts - including those with different state income tax profiles
- Distributions to charitable remainder trusts and charitable lead trusts (including large retirement plan/IRA balances coming out in the 5th or 10th year)
- Utilizing decanting strategies v. trust protector v. use of lifetime powers of appointment
- Establishing Special Needs Trusts (including applicable multi-beneficiary trusts (AMBTs) for retirement plan benefits)
Attend this program to ensure you are utilizing the best strategies to protect your clients’ assets and preserve their legacies according to their wishes.
Any estate planner can benefit from attending this webcast on the use of trusts as beneficiaries.