This is your opportunity to learn how to apply David Gaw's advanced-level, step-by-step approach to subtrust funding. The Gaw system, an invaluable practice tool used by estate and trust lawyers throughout California, is an integrated trust administration system that incorporates optimal tax consequences and efficient case management.
As you know, improper subtrust funding can give rise to serious adverse tax and nontax consequences such as loss of deductions, exemptions, and discounts. In this course, David Gaw will give you the tools you need to maximize the tax benefits available through a well-planned and well executed distribution and allocation process.
Mr. Gaw will examine the issues of subtrust funding on the death of the first spouse in the context of a joint revocable trust. He will spend considerable time showing you how to create spreadsheets for subtrust allocation, for calculating targets, and analyzing a hypothetical fact pattern using the spreadsheets. He will also cover income tax issues related to funding; timing of funding; non-probate allocation of community property; establishing the dollar target for subtrusts; examining marital deduction and generation skipping formulae; determining where to take deductions; choosing particular assets for subtrusts, including how to deal with the family residence or large IRAs, and discount planning on subtrust funding. Finally, significant time will be spent on stale trust administration.
Assumes some experience in trust and estate practice.
- Use of spreadsheets in asset allocation
- Use of hypothetical facts in funding
- Income tax issues related to funding
- Timing of funding
- Establishing dollar target for subtrusts and using spreadsheets to calculate the same
- Marital deduction and generation skipping formulae
- Determining where to take deductions
- Choosing particular assets for subtrust funding
- Allocation of family residence
- Dealing with large IRAs
- Discount planning on funding trusts
- Stale trust administration