The Life Cycle of a Revocable Living Trust FLEXCAST

Overview

More and more clients are creating revocable living trusts. This course is an in-depth analysis of the income and estate taxation of revocable living trusts - from creation to dissolution. Also discussed will be selected operational issues.

Highlights

Revocable living trusts.

Prerequisites

None.

Designed For

CPAs and other tax professionals.

Objectives

Describe how income and estate taxes impact revocable living trusts. Identify the allowable methods of filing income tax returns and how to change filing method. Identify when a revocable living trust needs an employer identification number and when it needs a NEW employer identification number. Understand how to make a Section 645 election - with or without a probate estate.

Preparation

None.

Notice

This is a FlexCast (no exam required) and may be viewed only Monday - Saturday, 5am - 5pm PT. You may take up to one year from the date of purchase to complete the course. Pause your FlexCast and resume at a convenient day during the hours above. Partial credit for 2+ credit courses: If you are unable to complete the course in one sitting, partial credit can be awarded (minimum of one credit). To earn the remaining credits, you must return later and start the course from the beginning. Use chat to ask questions of a subject matter expert during the program.