Tools & Techniques of Trust Planning, 4th Edition

Overview

This title covers the types of trusts that are most commonly used and the possible tax consequences for grantors and beneficiaries of using a particular type of trust. It details requirements for each type of trust and provides practical advice on how they should be drafted. In addition, this title addresses how planning professionals such as attorneys, accountants, investment advisers, and trust officers should administer the trust to achieve the client's stated planning goals over the life of the trust.

New in the 4th Edition

Explanation of how the stewardship trust is an ideal solution for a business owner to transfer his or her business altruistically

Updated community property law, including a discussion of "full" basis step adjustment and an update on the states that permit a couple to create a community property trust

The latest on the states that have adopted the Uniform Voidable Transactions Act

Current domestic asset protection trust (DAPT) legislation, including a discussion of each of the states, with an introductory focus on Alaska and Delaware, followed by a brief overview of each of the other states

DAPT states, including the new legislation in Connecticut, Indiana, and Alabama

The latest information on trusts and divorce, including how, since the passage of the Tax Cuts and Jobs Act, some states have decoupled from the federal income tax rule regarding alimony

Key Topics Covered

Explorations of different types of trusts include detailed knowledge about:

• Spousal lifetime access trusts (SLATs)
• Marital and By-Pass Trusts
• Community Property Trusts
• Irrevocable Life Insurance Trusts
• Trusts and Divorce
• Revocable Living Trusts
• Inter Vivos QTIP Trusts
• Supplemental Needs Planning
• Grantor Retained Interest Trusts
• Charitable Trusts
• Qualified Personal Residence Trusts
• Domestic Asset Protection Trusts
• Offshore Asset Protection Trusts
• Trusts for Unique Assets and Difficult Situations and Blended Families

As with all the resources in the highly acclaimed Leimberg Library, every area covered in this book is accompanied by the tools, techniques, practice tips, and examples you can use to help your clients successfully navigate the complex course of trust planning and confidently meet their needs.