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Understanding Income Tax Issues that Trusts Impose on a Family
Webinar
Understanding Income Tax Issues that Trusts Impose on a Family
Start
11/17/2023 - 3:00 PM
End
11/17/2023 - 4:50 PM
COURSE DETAILS
Lawyers who draft trust agreements need to understand the income tax issues that trusts impose on the family after the grantor dies.
Gain an overview of the basics of income taxation of trusts and estates, while also learning the standards for making distributions, and how the ideas of distributable net income (DNI) and fiduciary accounting income (FAI) interact.
Distributions can be made using ascertainable standards—health, education, maintenance, and support (HEMS)
—or
no standard at all.
Our presenter will also discuss when capital gains are included in DNI and when items that are not FAI are included in DNI.
Learning Objectives:
- Outline the basics of how taxable items are allocated to a trust/estate or its beneficiaries
- Determine how HEMS can be flexible and the estate and gift tax consequences of using HEMS or no standard
- Define what items comprise DNI that is not necessarily FAI
- Identify when capital gains are included in FAI and how to distribute capital gains
FACULTY
Steven B. Gorin, Thompson Coburn LLP
CLE CREDITS
2 NY Credits: 2 Skills; Transitional and Non-transitional; 2 NJ Credits: 2 General
GENERAL INFORMATION
To register: click the Register button below. The website will prompt you to log in or create an account to complete the checkout. If you are not a member, please join the membership before completing the checkout to take advantage of the member’s price. Registration closes 30 minutes before the program.
For technical and account-related issues, please get in touch with us at dradjabov@nycla.org
Webinar Link: After completing the checkout, you will receive a separate email with webinar access instructions. That email will arrive closer to the program start time. If you are still waiting to receive an access email 30 minutes before the program, please email cle@nycla.org.
Course Materials: We will email the link to download course materials 30 minutes before the program starts.
CLE Certificates (if applicable): After verifying your attendance, we will add your certificate to the “Download CLE Certificates” page, which you can access from your “My Account” page.