Tax Aspects of Commutation, Termination, & Decanting of Trusts
One hour webinar. Many clients desire to terminate irrevocable trusts. These could be bypass trusts, QTIP trusts, life insurance trusts or any other irrevocable trust. There may be many reasons, some quite reasonable, to do so. However, early trust terminations can have both income and transfer tax consequences. Do you know what they are? What about mere reformations through decanting or private settlement agreements – when may those also be problematic?
Ed Morrow will review the potential tax consequences, some of which may really shock you. He’ll point out where the law is unsettled in this area and what we should warn clients about even if all the parties agree to terminate or amend a trust. If you aren’t positive of the tax consequences of trust termination, you need to attend this webinar!
Presenter: Edwin Morrow, JD, LLM, CFP
CLE: 1.0 general credit
States Pre-Approved: AR, CA, ME, MO, NJ, NY, OK, PA, VT
(AK, AZ, CT, NH eligible to claim credit)
States Pending Approval: CO, GA, IL, NC, OH, TX, UT
We will apply for approval in other US states as registrations warrant,* with exception to the following: KS, RI, VA, WA**
* Approval process times will vary
** We will supply you with the information needed to self-apply