Need Help? Call us at (281) 541-2807 Visit our Facebook Page Follow us on Twitter Subscribe to our RSS Feeds

Taxation of Trusts and Estates 101

presented by NBI, Inc.
View the NBI, Inc. Profile and Course Listings


Taxation of Trusts and Estates 101

Workshop Description/Agenda

Build a Solid Tax Foundation for Your Trusts and Estates Practice

Tax is an indelible component of estate planning. Every document you draft, every trust instrument you use will have far-reaching tax consequences. This practical legal guide gives you a solid understanding of the underlying tax principles guiding estate plans. Power up your practice - register today!

  • Get an update on the latest tax laws, regulations and IRS guidance.
  • Identify tax consequences of different trust structures.
  • Explore essential tax forms used in trust reporting and estate administration.
  • Come away with new ideas for incorporating effective tax tools into clients' estate plans.
  • Understand how businesses are taxed.


10:00 am to 5:00 pm Eastern Standard Time

  1. Current Federal Tax Rules and Environment
    10:00 - 11:00, Robert B. Keyser II
    1. Governing Law
    2. Tax Rates and Exemptions: Individual, Trust, Estate, Business
    3. Updates: TCJA, the SECURE Act, FFCRA, CARES Act, and Other Recent Laws Affecting the Practice
    4. IRS Guidance and Enforcement
  2. Tax Consequences of Various Trust Structures
    11:15 - 12:15, John R. Bedosky
    1. Types of Trusts and Their Effect on Individual Tax
    2. Simple vs Complex Trusts
    3. State and Federal Taxation Considerations for Trusts
    4. Tax Consequences in Estate Administration
    5. Self-Settled Trusts
  3. Tax Planning Tools and Their Real-Life Application Challenges
    12:15 - 1:15, John R. Bedosky
    1. Gifts and Transfers
    2. Trusts
    3. LLCs
    4. Charitable Giving
    5. Basis Step-Up Tools
    6. Other Tools
  4. Trust Tax Reporting: Forms, Timelines, Planning Opportunities
    1:45 - 2:30, John R. Bedosky
    1. Annual Reporting (With Sample Documents)
    2. Taxable vs. Accounting Income, DNI
    3. Deductions
    4. Trust Taxation at Estate Administration
    5. Subtrust Creation at the Death of the Grantor
  5. Tax Returns in Estate Administration
    2:30 - 3:15, John R. Bedosky
    1. Timeline, Deadlines and Extensions
    2. Choosing the Taxable Year
    3. Key Tax Returns: Final 1040, 1041, Form 706, etc.
    4. Tax Basis Reporting
    5. Expenses and Deductions
    6. Sale of Real Property
    7. Tax Reporting for the Estates that Include a Business
  6. Other Tax Areas Trusts and Estates Attorneys Should Be Versed In
    3:30 - 4:00, Robert B. Keyser II
    1. Retirement Assets: Taxation, Distributions, Rollovers
    2. How Businesses are Taxed
    3. Operating Agreements: Allocations, Distributions and Their Taxation
    4. State and Local Taxation (After Wayfair)
    5. Collections, Liens, Creditor Rights
    6. Long-Term Care and Medicaid and its Effect of the Estates
    7. Conducting Tax Research: Useful Tips and Resources
  7. Legal Ethics in Tax Practice
    4:00 - 5:00, Robert B. Keyser II
    1. Attorney Fees
    2. Guarding Confidentiality
    3. Clients With Diminishing Capacity
    4. Identifying Undue Influence
    5. Fiduciary Liability Issues

Who Should Attend

This legal tax course is designed for attorneys. Accountants, trust officers, fiduciaries, tax professionals and paralegals will also benefit.

Additional Information

Training Provider: NBI, Inc.

Course Topics: Law Training > Asset Protection/Estate Planning

Training Course Summary: Taxation of Trusts and Estates 101