Non-Grantor Trusts in Elder Law Planning: Specific Trust Strategies and Key Tax Considerations

This CLE course will provide attorneys and advisers serving elderly clients with a focused review of key strategies and tax implications of the use of non-grantor trusts. The panel will discuss the most effective trust structures, avoiding pitfalls that would derail Medicaid eligibility, and tactics to ensure asset protection and tax savings for clients.

When integrating estate planning with long-term care planning, elder law practitioners and tax advisers may consider the use of non-grantor trusts. Counsel must know precisely the types of trusts available, the particular trust terms, and the tax implications.

Generally, non-grantor trusts are not taxed to the grantor, and such an individual is not treated as the owner of the trust for tax liability purposes. The grantor also cannot be a beneficiary or trustee and relinquishes control of the trust assets and the right to amend, revoke, or terminate the trust.

Our panel will explain the difference between grantor and non-grantor trusts and instances where a non-grantor trust and related rules can assist a client. The panelists will also review specific drafting mistakes and explain drafting approaches for trusts, including understanding and incorporating income, estate, and gift tax consequences.

Listen as our authoritative panel of elder law and estate planning counsel outlines best practices for the use of non-grantor trusts for estate and long-term care planning. The panel will explain how to achieve maximum asset protection and preservation in the most tax-efficient manner possible.