EVENT DESCRIPTION
Revocable living trusts are among the most widely used estate planning tools. This course walks practitioners through the complete life cycle—from formation through the grantor's death, trust administration, and ultimate distribution. Topics include grantor trust rules, basis step-up at death, and filing obligations for successor trustees.
EVENT OBJECTIVE
- Describe the legal structure and estate planning purposes of a revocable living trust
- Apply the grantor trust rules under IRC Sections 671–677
- Explain how trust assets are treated for income tax purposes at the grantor's death
- Identify tax filing obligations upon the grantor's death including Form 1041 requirements
- Describe the income tax treatment of trust distributions to beneficiaries
COURSE NAME
Life Cycle of a Revocable Living Trust
