Anchin university - Continuing Education Opportunities

Income Taxation of Trusts & Estates

Overview
Understanding the income taxation of trusts and estates can be a critically important tool to a successful attorney. Though trusts and estates is a highly specialized practice area in law, just as it is in accounting, it is important for many lawyers to have at least a basic understanding of the issues that affect the income taxation of trusts and estates. It is only with this understanding can the attorney best steer his/her client to the appropriate advisor.

This program serves as an introduction to the income taxation of trusts and estates. Topics covered include types of entities; fiscal year-end selection; capital gain or loss; rents; royalties; and partnerships; deductions subject and not subject to the 2% floor; the estate tax deduction; the allocation of expenses between IRS Forms 1041 and 706; distributable net income; Selection 643(e)(3) election; election to treat revocable trust as part of the estate; and other state fiduciary income tax issues.

Program Objectives

• Identify key issues unique to the taxation of trusts and estates
• Identify issues unique to individual states

Who Should Attend?
This program is targeted specifically for attorneys who need to understand the complexity of income taxation of trusts and estates. This would include attorneys whose primary practice areas are charitable planning and administration and estate planning.

CLE Credit
This course has been approved in accordance with the requirements of the New York State Continuing Legal Education Board for a maximum of two CLE credit hours which can be applied toward the skills requirement and is approved for both transitional and non transitional credit.