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The Ins-and-Outs of Funding Trusts: Modifying Asset Composition to Ensure Optimal Tax and Estate Transfer Results

Note: CPE credit is not offered on this program

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

This program is included with the Strafford CLE Pass. Click for more information.
This program is included with the Strafford All-Access Pass. Click for more information.

Conducted on Tuesday, September 17, 2024

Recorded event now available

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This CLE webinar will provide estate planners with a thorough and practical guide to funding trusts. The panel will discuss funding considerations for both revocable and irrevocable trusts, detailing funding considerations at formation, as well as review and evaluation of trust assets during operation. The panel will also address funding formulas for marital trusts and review funding issues for grantor trusts.

Description

A critical component of establishing a trust of whatever type is funding the trust. Many planners look at this as "the last step" in setting up a trust, but a sound trust strategy involves not merely transferring title to assets, but making sure that the right assets are transferred and monitoring asset performance to ensure the trust is performing as it should.

There are several steps to funding a trust. Taking an inventory of assets can sometimes determine whether a trust should be revocable or irrevocable. Determining which assets to transfer, and how to transfer those assets--whether by change of title/ownership, assignment of rights, or purchasing assets in the trust's name--is the key technical aspect of trust funding and one which many taxpayers neglect to complete.

In the case of irrevocable trusts, planners typically can assist clients with exchanging or buying and selling the trust if the trust document permits. Estate planners and advisers should monitor the type of assets held in a trust, and their financial performance, to ensure that the trust is properly funded to accomplish the client’s goals.

Listen as our experienced panel provides a practical guide to the funding issues of revocable, irrevocable, grantor, and marital trusts.

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Outline

  1. Funding irrevocable trusts at formation
  2. Revocable/living trusts and grantor trusts--initial funding
  3. Reviewing trust assets for funding adjustments
  4. Marital funding formulas and approaches
  5. Grantor trust funding issues

Benefits

The panel will discuss these and other key topics:

  • Evaluating assets at trust formation
  • Means of accomplishing asset transfers
  • How to alter or reallocate assets held in an irrevocable trust
  • Marital trust funding considerations

Faculty

Blau, Cristina
Cristina Coletta Blau

Of Counsel
McLane Middleton

Ms. Blau is Of Counsel with the Trusts and Estates Department at McLane Middleton. Her practice is focused on the...  |  Read More

Young, Audrey
Audrey G. Young

Of Counsel
McLane Middleton

Ms. Young focuses her practice in the area of trusts and estates law and taxation. She counsels individuals, families...  |  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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