Income and Fiduciary Tax Issues for Trust and Estate Planners, Part 2
Total Credits: 1 including 1 CLE
- Average Rating:
- Not yet rated
- Categories:
- Probate & Estate Planning
- Faculty:
- Jeremiah W. Doyle IV
- Original Program Date:
- Mar 25, 2025
- License:
- Never Expires.
Description
Understanding fiduciary income taxation – the taxation of grantor and non-grantor trusts, complex and simple trusts – is essential to trust planning. It impacts the type of trust chosen, how it’s structured and administered. Recently changes to federal tax law have added to the complexity of fiduciary income taxation. The tax treatment of trust income and accounting for distributions and expenses varies depending on the type of trust involved and how “Distributable Net Income” is allocated. This program will provide you with a real-world guide to the essential rules, timeframes, planning techniques and traps of the taxation of trusts.
Schedule:
- Practical income allocation for simple, complex and grantor trusts
- Specific allocation rules for DNI – Tier System, Separate Share Rule, 65 Day Rule, specific bequests
- Charitable giving – tax treatment and practical impact
- Treatment of depreciation, administrative expenses, and allocation to income
- Trust terminations – capital loss carryover and excess deductions
Handouts
| Handout 1 (2.6 MB) | 97 Pages | Available after Purchase |
Faculty
Jeremiah W. Doyle IV Related Seminars and Products
BNY Mellon Wealth Management
Jeremiah W. Doyle, IV is senior vice president in the Boston office of BNY Mellon Wealth Management, where he provides integrated wealth management advice to high net worth individuals on holding, managing and transferring wealth in a tax-efficient manner. He is the editor and co-author of “Preparing Fiduciary Income Tax Returns,” a contributing author of Preparing Estate Tax Returns, and a contributing author of “Understanding and Using Trusts,” all published by Massachusetts Continuing Legal Education.
