Understanding fiduciary income taxation – the taxation of grantor and non-grantor trusts, complex and simple trusts – is essential to trust planning. It impacts the type of trust chosen, how it's structured and administered.

Recently changes to federal tax law have added to the complexity of fiduciary income taxation. The tax treatment of trust income and accounting for distributions and expenses varies depending on the type of trust involved and how "Distributable Net Income" is allocated.

This program provides a real-world guide to the essential rules, timeframes, planning techniques and traps of the taxation of trusts.

Part 1 topics include:

• Fiduciary income taxation framework and rules for estate and trust planners
• How fiduciary and income tax planning differ from each other
• Planning for fiduciary taxation v. planning for individual and corporate tax purposes
• Types of trusts – simple, complex, grantor – and differing tax rules for each
• Treatment of "Distributable Net Income"
• Understanding "Trust Accounting Income," and impact of Prudent Investor Rule

DETAILS
Phone/Audio
Thursday, April 20, 2023
1:00–2:00 PM

SPEAKERS

• Jeremiah W. Doyle IV, BNY Mellon Wealth Management, Boston

PRODUCED
October 11, 2022

APPROVED CREDIT
North Carolina: 1.00 MCLE Hour

PROGRAM PRICING
See pricing below.