The Book of Trusts Resource Material: ID# 1001946
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About This Course:
New types of trusts offer a variety of tax-wise ways you can protect your client's hard-earned wealth while keeping control over how and when their money is spent.
In 32 succinct pages, The Book of Trusts shows how your clients can use trusts to dodge probate, avoid Medicaid liens, save for their children's education, transfer income-generating assets into lower tax brackets, shelter their wealth from creditors, provide for their surviving spouse ... and more!
Table of Contents
INTRODUCING THE WORLD OF TRUSTS
Trusts Offer Flexibility A Less Taxing View of Trusts A Little History Lesson How This Report Can Help Buying Peace of Mind GETTING STARTED
The Players Table 1: Common Trusts Trustees Call the Shots Leave an Escape Hatch Replacing the Trustee Don't Cut Corners on Legal Advice Trust Tax Brackets Tax Matters A Tax-Wise Approach Revocable v. Irrevocable Trusts REVOCABLE LIVING TRUSTS
Expense Delays Publicity Multiple Probate Avoiding Probate Right for You? Assets That Bypass Probate Naming a Successor Trustee Retitling Your Assets Worst-Case Protection Shelter From Medicaid Lien Two Tax Issues MINOR'S TRUSTS
Custodial Account or Trust? Custodial Accounts Long-Term Trusts Gift-Tax Rules Apply Special Provisions Making the Final Choice PRESERVATION TRUSTS
Sprinkle Trusts Pick the Right Trustee Curbing Spendthrifts Q-TIP TRUSTS
First Marriages Protection of Surviving Spouse Relief of Intra-Family Stress Emergency Care Invading the Principal Post-Mortem Tax Planning When the Second Spouse Dies Playing the Waiting Game Taxpayer Victories in Court Tax Court Overturned In the Survivor's "Best Interests" Handling a Closely Held Business LIFE INSURANCE TRUSTS
When Children Own the Policy . . . Out of Harm's Way in a Trust Paying the Premiums Crummey Consequences To the IRS, Powers Are Bogus Other Trust Rules Best Defense: Start Fresh Off on the Right Foot Two Deaths, One Payment Testing Insurability CHARITABLE REMAINDER TRUSTS
A Case in Point Table 2: Straight Sale and Reinvestment Options Add Luster Tax Advantages and More Table 3: Charitable Remainder Trust Including the Heirs Using a CRT As a Retirement Plan Not for Everyone Upper and Lower Limits Funding Trusts for the Disabled CREDIT SHELTER TRUSTS
Estate/Gift Tax Credit Spousal Shelter How the Tax Credit Works Solution: A Bypass Trust The Importance of Being Equal One Wrong Word and the IRS Wins Beneficiary + Trustee Spells Trouble Beyond the $11,000 Limit on Gifts Legal-Even With 18 Beneficiaries RETAINED INTEREST TRUSTS
GRATs and GRUTs Lower Means Higher PERSONAL RESIDENCE TRUSTS
Reversionary Interest Split Shifts to Reduce Risk A Capital (Gains) Idea Take Advantage of Gain Exclusion S CORPORATION TRUSTS
Grantor Trusts 'Section 678' Trusts Qualified Subchapter S Trusts Testamentary Trusts Successor Trusts Electing Small Business Trusts Tax-Exempt Qualified Retirement Plan Trusts GENERATION-SKIPPING TRUSTS
Expanding the Exemption How to Use the GST Exemption Where to Invest ASSET PROTECTION TRUSTS
Safety in the Cook Islands Trimming the Target Your Mission: Control Home-Grown Asset Protection Trusts INVESTMENT TRUSTS
Real Estate Investment Trusts Shopping for REITs Royalty Trusts A Good Tax Marriage Unit Investment Trusts APPENDIX
Table 4: Federal Gift/Estate Tax Rates for U.S. Citizens and Residents Table 5: Gift and Estate Tax Exemption Amounts How to Calculate the Tax Due GLOSSARY