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Using Trusts as Beneficiaries in Estate Planning

Content Provider
American Law Institute CLE
Product
CLE
Run Time
95 Minutes
Recording Date
08/20/2024
Presenter(s)
Michael Gordon, Edwin P. Morrow III
Learning Method
On-Demand Training
Practice Area
Estate Planning and Elder Law, Taxation
Persona
CLE OnDemand

Price $259.00

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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.

Literature

State Status Total Credits Type Of Credit Approved Thru
AlabamaApproved1.50General12/31/2024
AlaskaApproved1.50GeneralOn-going
ArizonaApproved1.50GeneralOn-going
ArkansasApproved1.50GeneralOn-going
CaliforniaApproved1.50Participatory08/20/2029
ColoradoApproved2.00General12/31/2026
ConnecticutApproved1.50GeneralOn-going
DelawareApproved1.60General08/19/2026
FloridaApproved2.00General05/31/2026
HawaiiApproved1.50General08/20/2026
IdahoApproved1.50General08/19/2029
IllinoisApproved1.50General10/14/2026
IndianaApproved1.50General11/19/2025
IowaApproved1.50General08/19/2025
KansasApproved1.50General10/22/2025
KentuckyApproved1.50General06/30/2025
LouisianaApproved1.58General10/14/2025
MainePending State Response0.00
MinnesotaApproved1.50General11/11/2026
MississippiApproved1.58General10/14/2025
MissouriApproved1.90GeneralOn-going
MontanaApproved1.50General08/20/2027
NebraskaApproved1.58General08/19/2026
NevadaApproved1.50General12/31/2027
New HampshireApproved1.60General08/19/2027
New JerseyApproved1.50GeneralOn-going
New MexicoApproved1.60General08/19/2029
New YorkApproved1.50SkillsOn-going
North CarolinaApproved1.50General02/28/2025
North DakotaApproved1.50General08/20/2027
OklahomaApproved2.00General12/01/2025
OregonApproved1.50General08/19/2027
PennsylvaniaApproved1.50General10/14/2026
Rhode IslandApproved1.50General06/30/2025
TennesseeApproved1.58General10/14/2025
TexasApproved1.50General10/05/2025
UtahPending State Response0.00
VermontApproved1.50GeneralOn-going
VirginiaApproved1.50General10/31/2025
WashingtonApproved1.50General08/19/2029
West VirginiaApproved1.90GeneralOn-going
WisconsinApproved1.50GeneralOn-going
WyomingApproved1.50General10/14/2025

Speakers