Skip to main content

Advanced Trust Issues: A Roadmap for Success in An Increasingly Complex Area

Tuesday, October 25 12:30pm - 4:00pm

(Check-In 12:00pm)

Add to Calendar

Holiday Inn

1100 5th St S
Great Falls, MT 59405

Get Directions

4.00 Credits

Member Price $138.00

Price will increase by $25 after 10/4

Non-Member Price $163.00

Price will increase by $25 after 10/4

Overview

All materials will be electronic only

Trusts are not cookie-cutter documents. In fact, they can be rather unwieldy, especially in explaining the functions to a client and then having the client comply with the trust terms. This course delves into best practices. Given common scenarios, what are the best trusts to use? And how can the client be best protected?

Highlights

  • Key concepts of trusts, including recent trends; best practices; jurisdiction; and ways to avoid pitfalls
  • Decanting
  • Federal estate tax exemption and remaining relevance of trusts
  • Irrevocable life insurance trusts
  • The role of family dynamics
  • Choice of trustee and other fiduciaries
  • State trust-friendly considerations
  • Charitable trusts
  • Delaware Statutory Trusts
  • Powers of attorney 
  • Pet Trusts – the emerging necessities
  • State, county, and local issues
  • Portability
  • QTIP issues
  • Creditor considerations
  • Potential IRA problems
  • Problems with re-titling assets

Prerequisites

A basic understanding of simple trusts.

Designed For

Tax practitioners who advise clients on the benefits of establishing a trust.

Objectives

  • Advise individual clients on the benefits of using a trust to achieve their personal goals 
  • Save clients money in their estate planning

 

Preparation

None

Leader(s):

Leader Bios

John Sherrick

John N. Sherrick, MA, CPA, is a partner of Sitrick & Associates, LLC in Bettendorf, Iowa. John prepares tax returns and financial statements for closely held companies and their owners. He also provides a variety of income tax, retirement, and estate-tax planning services for his clients. John also serves as an expert witness for business valuations and other tax and accounting issues. John has over 35 years of experience in public accounting with local firms. His experience includes a wide variety of tax and accounting issues for small businesses in a number of industries. John also has had experience in auditing and taxation of not-for-profit organizations on the local and national level. John received his bachelor’s degree in economics and business administration from Knox College in Galesburg, Illinois. He then received his master’s degree in accounting from the University of Iowa, Iowa City, Iowa. John holds CPA certificates in both Iowa and Illinois and is a member of the AICPA, the Iowa Society of CPAs, and the Illinois CPA Society.

Return to Top

Non-Member Price $163.00

Member Price $138.00