Estates, Gifts & Trusts Tax Topics 

Fees: $97 for Members and $113 for Nonmembers

Summary
Over the past few years, there have been significant changes to the laws pertaining to estates gifts and trusts. If you need to be brought up to speed on all these changes, you don’t want to miss this course! We want update your knowledge of estate, gift and fiduciary income taxes, including recent developments and recent court cases that have had an impact on the laws pertaining thereto. Also, the course will cover bargain sales, life estates, marital trusts and charitable remainder trusts (CRATAs and CRUTs).

Table of Contents

Objectives
Upon completion of this course, you will be able to: 

• Explain changes to the estate and gift tax laws and forms.
• Modify existing estate tax plans to align with new estate and gift tax rules.
• Identify new estate, gift, and fiduciary income tax court cases and rulings of interest.
• Compute recognized gain on a bargain sale.
• Determine the basis of property purchased for less than its fair market value.
• Identify if there is a taxable gift present when a below market sale occurs. 
• Identify the benefits and potential pitfalls of transferring property with a retained life estate.
• Determine the values of life estates and remainder interests at the time of transfer or sale.
• Report sales of life estate property.
• Explain the effect of the life estate on the basis of the asset after the death of the life tenant. 
• Explain the purpose and usefulness of marital trusts.
• Identify requirements the trust must meet to qualify for a marital deduction.
• Fund the marital trust in the most advantageous manner.
• Distinguish between a charitable remainder annuity trust (CRAT) and a charitable remainder unitrust (CRUT).
• Explain the income tax treatment of contributions to and distributions from charitable remainder trusts.
• Identify the reporting requirements for charitable remainder trusts.