Irrevocable Trusts: Who is the Taxpayer?

This program will provide an in-depth analysis of federal income taxation of irrevocable trusts, including, but not limited to, whether a trust is a separate independent taxpayer or a disregarded entity, what causes a trust to be a separate independent taxpayer and what are the implications of such classifications. This program will also discuss certain estate planning strategies that can be deployed depending on how the trust is structured for income tax purposes, as well as provide an overview of the federal income tax ramifications of establishing foreign trusts.

Learning Objectives:  

1. Review the different federal income tax classifications of irrevocable trusts 
2. Identify and understanding the different "triggers" that cause an irrevocable trust to be deemed a grantor trust for federal income tax purposes
3. Examine estate planning strategies based on the income tax classification of a trust