Description
Gain a better understanding of the fundamentals of Dynasty Trusts in Estate Planning.
Clients who have wealth that exceeds the Applicable Exclusion Amount, currently 13.61 per person (27.22 for a married couple), often desire their wealth to last several generations. Estate planning practitioners need to understand how best to accomplish that goal while ensuring that each generation has access to the family wealth. In the first half of the 20th century, trusts and estate attorneys devised trusts that would provide each generation with use of the assets without the inclusions of those assets in the estate of each generation for estate tax purposes.
Date: 2024-02-20 Start Time: 1:00 PM ET End Time: 2:05 PM ET
Learning Objectives
* You will be able to define a direct skip, a taxable distribution, and a taxable termination.
* You will be able to describe the impact that a Dynasty Trust has on an estate plan.
* You will be able to discuss the benefits of creating a Dynasty Trust.
* You will be able to recognize situations for which a Dynasty Trust makes sense.