Avoiding Income, Gift and GST Tax Disasters of Early Trust Terminations

Presenter:  Edwin Morrow, Regional Wealth Strategist, US Bank Private Wealth Management

Sometimes beneficiaries (and even trustees) just want to get rid of a trust, or dramatically reform it.  The Uniform Trust Code outlines several methods for parties to legitimately reform or terminate irrevocable trusts (WI Stat § 701.0401 et seq).  But what are the tax ramifications of doing so?  When could such changes be subject to gift tax?  When would they be subject to income tax, and how would such income tax be calculated?  It may be worse than you think, based on recent PLRs.  Ed Morrow will explore these issues and provide alternative solutions that may reduce or avoid some very serious tax risks.

Credit: 1.0 CLE credit to be applied for
Registration & Lunch: 12:00 - 12:30 PM
Presentation: 12:30 - 1:30 PM
Location: MBA - 747 North Broadway

$40.00 MBA member
$52.00 MBA member w/lunch
$75.00 Non-member
$87.00 Non-member w/lunch

Register