2022 Trust Decanting Update

WHAT WE’LL COVER

Years ago, an irrevocable trust was truly irrevocable. However, with the creation of decanting statutes in many states, “irrevocable” no longer means irrevocable. In this presentation, Steve will explain how decanting works and many of the opportunities to decant that advisors may not recognize. Whereas decanting is often viewed as a means of fixing a broken trust, you will learn to put more of the focus on decanting to enhance the asset protection, divorce protection, and tax savings that can be obtained using a trust.

Learning Objectives:

Attendees will learn what decanting is and how it works
Attendees will learn what to look for in a trust to be able to recognize opportunities to help clients
Attendees will learn that some states’ decanting statutes are superior to those in other states
Attendees will learn how to increase the asset and divorce protection of a trust
Attendees will learn how to decant a trust in order to save federal and/or state income taxes

CLE:
1.0 credits
States Pre-Approved: AR, CA, MO, NJ, NY, OH, OK, PA, TX, UT, VT (AK, AZ, CT, NH eligible to claim credit)
States Pending Approval: GA, IL, KS, NC, TN

CFP:
1.0 credits pending (National CFP Board)

CPE:
Program Knowledge Level: Intermediate
Delivery Method: Group Internet-Based
Recommended CPE Credit: 1.0
Field of Study: Taxation
Prerequisites: JD
Advance Preparation: None
Review Date: 5/16/2022

NOTE: For accurate records, each employee in an organization must register individually for CLE attendance reporting and audit. Additionally, if multiple people from an organization (who have individually registered) would like to view together under one employee's registration and login, please send a list of those individuals along with the verification code(s) to cle@wealthcounsel.com, so their attendance is marked accordingly.

In order to be awarded the full credit hours, you must be present during the entire program.

WealthCounsel LLC 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 credit. Complaints regarding registered sponsors may be submitted to the National Registry of CPE Sponsors through its website: www.nasbaregistry.org. NASBA Sponsor ID 108255. We have registered with the Texas State Board of Public Accountancy as a CPE sponsor. This registration does not constitute an endorsement by the Board as to the quality of our CPE program. Texas State Board Sponsor ID 9610.

For information on refunds, concerns, and program cancellation policies, please contact our offices at 888-659-4069, ext 818 or memberservices@wealthcounsel.com.