Charitable Remainder Trusts: Income Tax, Inherited IRAs, Key Considerations for Trust and Estates Counsel

Mechanics of CRTs Under Current Tax Law, Deduction of Interest, Estate Tax Impact, CRAT, CLAT

Note: CPE credit is not offered on this program

Recording of a 90-minute CLE video webinar with Q&A


Conducted on Tuesday, July 20, 2021

Recorded event now available

or call 1-800-926-7926
Course Materials

This CLE course will provide trust and estates counsel guidance on utilizing charitable remainder trusts (CRTs) for income tax and estate planning. The panel will discuss the mechanics of CRTs under current tax law, deduction of the charitable remainder interest, impact on the estate tax, and key challenges for counsel. The panel will also discuss the possibility of utilizing CRTs to stretch inherited IRAs and other planning techniques.

Description

CRTs can provide significant income and estate tax advantages while also satisfying charitable intent. To ensure these advantages for clients, trust and estate counsel must have a complete understanding of the legal framework and tax rules applicable to CRTs.

A CRT is a tax-exempt, irrevocable trust meant to reduce taxable income, support charities, and possibly create a stream of retirement income. The use of either of the various types of CRTs is determined based on client needs and circumstances. In addition, structuring CRTs for income tax deduction, gift-tax efficient transfers, and as a possible option for stretch IRAs requires in-depth knowledge of complex tax rules.

Listen as our panel discusses the mechanics of CRTs under current tax law and challenges for counsel, as well as offers key income and estate tax planning techniques.

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Outline

  1. Applicable rules and legal framework
  2. Key elements of CRTs
  3. Types of CRTs
  4. Income and estate tax planning

Benefits

The panel will review these and other key issues:

  • What are the legal framework and applicable rules for CRTs?
  • What are the key elements of CRTs?
  • What are the various types of CRTs, and what factors must be considered in determining which will provide the most benefit to clients?
  • How can you properly structure a CRT for an income tax deduction and timing of trust income?
  • How can you ensure gift tax efficient transfers to remainder beneficiaries?
  • How can CRTs be utilized to stretch inherited IRAs?

Faculty

Kushner, Andrea
Andrea L. Kushner, J.D., LL.M.

Director—Wealth Strategies Group
AllianceBernstein

Ms. Kushner is a Senior Vice President and Director of the Wealth Strategies Group and is located in Bernstein’s...  |  Read More

Powell, Mark
Mark E. Powell

Partner
Holland & Knight

Mr. Powell is an attorney and a certified specialist in Estate Planning, Trust and Probate Law with the California Bar...  |  Read More

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Strafford will process CLE credit for one person on each recording. All formats include course handouts.

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