Trust planning needs review after tax changes

Trusts are used on an ever-increasing basis to plan for wealth and succession objectives for medium- and high-worth clients. The advisor who can assist with that process enjoys the oppor-tunity to establish a long-term, potentially intergenerational connection with a client and their family. However, there have been recent changes advisors need to know about.

Recently updated, the Use of Trusts course offered by Knowledge Bureau offers everything from basic trusts mechanics to trusts for disabled beneficiaries.

Every financial advisor who discusses tax, financial or investment plans with clients should have a basic understanding of the taxation of trusts in order to discuss estate planning options with clients. This course provides a detailed primer in the subject area, featuring common true-to-life scenarios.

Originally written by John Poyser and recently updated by Greer Jacks, this course offers everything you need when dealing with your clients’ trusts.

Using a case-study approach, you will learn:

• How to explain trusts in simple terms to clients, and to understand the basic workings of trusts.
• How to reduce income taxes using charitable remainder trusts, estate freezes, and testamentary trusts.
• How to avoid probate fees using alter ego trusts and RRSP trusts.
• How to protect children from gold-diggers, protect wealth from creditors and protect beneficiaries from poor financial judgment using control designed trusts.
• How to help clients help their disabled beneficiaries.
• How to identify opportunities and needs for insurance products as part of trust planning.
• How to become part of a succession planning team that advises the next generation.
• How recent legislative changes will affect planning using testamentary trusts after 2015

The Use of Trusts course is part of the Succession and Estate Planning program.

USE OF TRUSTS TABLE OF CONTENTS:

Chapter 1: Basic Trust Mechanics
Chapter 2: Trusts as Mechanisms to Exert Control
Chapter 3: Basic Tax Treatment
Chapter 4: Testamentary Trusts
Chapter 5: Inter Vivos Trusts
Chapter 6: Charitable Remainder Trusts
Chapter 7: Alter Ego and Joint Partner Trusts
Chapter 8: Insurance Trusts and RRSP Trusts
Chapter 9: Spendthrift Trusts
Chapter 10: Spousal Trusts
Chapter 11: Trusts for Disabled Beneficiaries