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Free cpece webinars
How to Shift Income to Beneficiaries

HOW TO SHIFT INCOME TO BENEFICIARIES

Cost Free
Presentation Length 1.5 hours

Recorded DateSeptember 21, 2020
CPE:Not available
(archived webinars do not offer CPE credits)
Subject AreaTaxes
Course LevelBasic
Course Description

Fiduciary Income Tax Refresher and Latest Update 2020 provided an overview of fiduciary income tax strategies. This webinar focuses on non-grantor trusts and provides a closer look at standards for making distributions and explains how the ideas of distributable net income (DNI) and fiduciary accounting income (FAI) interact. Distributions can be made using ascertainable standards (health, education, maintenance, and support (HEMS) or no standard and all (welfare or best interests). We will spend more time on when capital gains are included in DNI and when items that are not FAI are included in DNI.

Learning Objectives:


  • Learn how HEMS can be flexible and the estate and gift tax consequences of using HEMS or no standard

  • Discover what items comprise DNI that are not necessarily FAI

  • Learn when capital gains are included in FAI and how to distribute capital gains

  • Uncover how ownership of partnerships and S corporations complicates the interaction between DNI and FAI and what to do about it



In addition to being accredited for CPE, this course will also be accredited for CLE in California, Illinois, Missouri, and Texas (pending).

PLEASE NOTE: ARCHIVED WEBINARS DO NOT QUALIFY FOR CPE
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Thompson coburn llp

Steve has drafted trusts and a full range of estate planning documents for clients to help grow, preserve, and transmit their family wealth. He has also drafted organizational documents for limited liability companies, corporations, and partnerships to implement their owners' wishes regarding current and future control and transmission, including bringing in new owners and facilitating exit strategies. 

Steve enjoys helping clients structure their affairs to achieve their personal, business, and financial goals while trying to reduce the drag that taxes impose on them. His firm provides full service to businesses; however, he also acts as counsel on specialized matters while cooperating and facilitating the continued involvement of an existing legal, accounting, and financial services team. Steve maintains his CPA license but prefers to refer income tax returns to practicing CPAs.

Steve Gorin is the former president and an ongoing contributor to strategic initiatives of Covenant Place, a senior affordable housing community with a groundbreaking model for integrated residents with the surrounding community and facilitating holistic services to enrich their lives. 

To know more about Steve Gorin, kindly click on the link below:

http://thompsoncoburn.com/people/steve-gorin

For various free resources Steve offers, see https://www.thompsoncoburn.com/insights/blogs/business-succession-solutions/about

About Our Presenter

Thompson coburn llp
For approximately 90 years, Thompson Coburn LLP has provided the quality legal services and counsel our clients demand to achieve their most critical business goals. Whether helping with a tax, estate planning, real estate or employment issue, navigating a complex acquisition or defending a product or service in litigation, we have the knowledge and resources to meet any legal need.

With over 380 attorneys, we have experience in more than 50 areas of the law. Supported by our firm’s state-of-the-art technology, lawyers in our Chicago, Dallas, Los Angeles, St. Louis, Southern Illinois and Washington, D.C. office enjoy a nationwide practice.

Thompson Coburn live webinars are pre-approved for continuing legal education credit in California, Illinois, and Missouri. For those attorneys seeking CLE in other jurisdictions, the Certificate of Attendance can be used to seek CLE in those other jurisdictions. It will be the responsibility of each attorney to handle CLE in his or her own state. While Thompson Coburn adheres to the strict accreditation rules for California, Illinois, and Missouri, please note that our live webinars may not be eligible to receive credit in all states.