About the Course
Introduction
This webinar will review the primary concerns of grantors, taxpayers, and trust and estate professionals when forming and terminating trusts. Our panel will discuss initial concerns, including trust situs, funding a trust, and selecting an appropriate trustee. Our experts will cover finalizing a trust and discuss terminating events, final distributions, and the tax consequences of final year distributions.
Description
A properly established trust can provide a method to transfer assets after death, asset protection, Medicare eligibility, and estate tax savings. There are key aspects a grantor must consider when forming a trust to secure these benefits. The type of trust, trustee chosen, and location of the trust all affect its subsequent taxation and administration. One of the most common trust errors is improperly funding or failing to fund a trust after it is established.
On the other hand, when a trust terminates, final distributions should be made following the grantor's intentions. Income allocations, excess deductions on termination, and loss carryforwards must be reported to beneficiaries. Trust professionals need to be aware of terminating events. A properly established trust and trust document can circumvent future problems and tax issues.
Listen as our authoritative panel of trust and estate veterans explains critical concerns when forming and ending trusts to avoid common errors.
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BARBRI is a NASBA CPE sponsor and this 110-minute webinar is accredited for 2.0 CPE credits.
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BARBRI is an IRS-approved continuing education provider offering certified courses for Enrolled Agents (EA) and Tax Return Preparers (RTRP).
Date + Time
- event
Thursday, July 16, 2026
- schedule
1:00 PM ET/10:00 AM PT
I. Establishing and terminating trusts: introduction
II. Establishing a trust
A. Types of trusts
B. Situs
C. Selecting a trustee
D. Funding a trust
E. Other issues
III. Terminating a trust
A. Determining final distributions
B. Terminating events
C. Tax consequences
D. Other issues
The panel will review these and other critical issues:
- How trust situs is determined, and how it affects taxation of a trust
- Evaluating trustee choices, including co-trustees, family, friends, professionals, and institutions
- Reporting excess deductions on terminations and loss carryforwards in the final year
- Key provisions in a trust document
Learning Objectives
After completing this course, you will be able to:
- Identify key provisions in trust documents affecting taxation
- Determine how the type of trust affects its taxation
- Ascertain when a professional could be a better trustee choice than a friend or family member
- Decide when excess deductions on terminations are passed to beneficiaries
- Field of Study: Taxes
- Level of Knowledge: Intermediate
- Advance Preparation: None
- Teaching Method: Seminar/Lecture
- Delivery Method: Group-Internet (via computer)
- Attendance Monitoring Method: Attendance is monitored electronically via a participant's PIN and through a series of attendance verification prompts displayed throughout the program
- Prerequisite: Three years+ business or public firm experience preparing complex tax forms and schedules, supervising other preparers or accountants. Specific knowledge and understanding of estate, gift and trust taxation including various trusts types, the unified credit, and portability.
BARBRI, Inc. is registered with the National Association of State Boards of Accountancy (NASBA) as a sponsor of continuing professional education on the National Registry of CPE Sponsors. State boards of Accountancy have final authority on the acceptance of individual courses for CPE Credits. Complaints regarding registered sponsons may be submitted to NASBA through its website: www.nasbaregistry.org.
BARBRI is an IRS-approved continuing education provider offering certified courses for Enrolled Agents (EA) and Tax Return Preparers (RTRP).
BARBRI CE webinars-powered by Barbri-are backed by our 100% unconditional money-back guarantee: If you are not satisfied with any of our products, simply let us know and get a full refund. Contact us at 1-800-926-7926 .
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