This course will explore some of the many uses of the irrevocable life insurance trust (ILIT) in estate planning. We will review selected issues in the estate, gift, generation-skipping, and income tax treatment of transfers to and administration of an ILIT. Topics covered will include the following:
- Determining whether to design an ILIT as a “grantor trust”
- Options for attaining grantor trust treatment
- The estate, gift, generation-skipping, and income tax consequences of transfers to an ILIT
- Multigeneration ILITs
- Administering an ILIT
- Crummey demand notices
- Premium payments
- Distributions
- Tax reporting
- What to do when an ILIT no longer serves the Grantor’s goals
- Distributions
- Trust-to-trust sales
- Decanting
- Amendments
TUITION
This webinar is included for Trusts & Estates, Marketing Source, and Business Law Subscribers.
Regular Price: $129 | Trusts & Estates Price: $0 | Gun Law Price: $129 | Business Law Price: $0 (website access not included)| Marketing Source Price: $0
CLE:
1.0 credits
States Pre-Approved: AR, CA (Pending Renewal), 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: Taxes
Prerequisites: JD
Advance Preparation: None
Review Date: 3/6/23
ACTION NOTES:
For accurate records, each employee in an organization is required to register individually for CLE attendance reporting and audit. However, 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, and accurate credits are reported in states where required by sponsor.
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. Note: we do not offer CPE to CPAs in individual states, only through NASBA.
For information on refunds, concerns, and program cancellation policies, please contact our offices at 888-659-4069, ext 818 or memberservices@wealthcounsel.com