The Tools & Techniques of Trust Planning, 3rd Edition

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The Tools & Techniques of Trust Planning, 3d Edition provides advisers with the most up-to-date information about the creation, administration, and modification of trusts for legal and estate planning professionals. Not only does this title deliver an expert overview of general trust information, but it explains how to use specific types of trusts to solve unique planning problems.

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 3rd Edition:

  • A new Chapter 24 on the Spousal Lifetime Access Trust (SLAT), including the advantages, disadvantages and potential uses and important planning pointers in the design, funding and administration of a SLAT, particularly as they relate to possibly being able to direct SLAT funds to the donor spouse?
  • Updates on Special Needs Trusts, including how the Special Needs Trust Fairness Act allowed an individual with a disability or their agent under a power of attorney to establish a d(4)(A) trust for that individual's benefit
  • Updates to Community Property law, including a discussion of "full" basis step adjustment and an update to the states that permit a couple to create a community property trust
  • The latest on domestic asset protection trust legislation, with an introductory focus on Alaska and Delaware, followed by a brief overview of each of the other DAPT states, including the new legislation in Connecticut, Indiana and Alabama.
  • Updated information on trusts and divorce, including how, since passage of the Tax Cuts and Jobs Act of 2017, some states have decoupled from the federal income tax rule regarding alimony.
  • A new chapter on Spousal Lifetime Access Trust (SLATS), including the advantages and disadvantages of these trusts, the assets best suited for these trusts and issues around the donor spouse
  • Updated state, federal, and international law updates for asset protection trusts

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
  • And more! See the "Table of Contents" section for a full list of topics

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.

Additional Information
SKU 2580003B
Publication Date October 13, 2022
ISBN 978-1-954096-63-9
Page Count 438
Author Stephan R. Leimberg, Jonathan E. Gopman, Michael A. Sneeringer
Edition 3rd Edition
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