As trust planning becomes more and more prevalent, the need to understand the federal and state income tax treatment of trusts has become more important than ever. This program will provide the practical fundamentals that every estate planner should know about fiduciary income taxation. Different definitions of income, including Taxable Income (TI), Fiduciary Accounting Income (FAI) and Distributable Net Income (DNI), will be translated in a clear and concise manner, in order for practitioners to protect themselves from many of the traps for the unwary.
Identify ways to minimize the federal and state income taxes on trusts and estates.
Distinguish how recent case law, IRS guidance and Treasury Regulations impacts the income taxation of trusts and estates.
J.D., LL.M., TEP, AEP(R), CFP(R),
Partner and National Director of Planning,
Evercore Wealth Management