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CPAs and Financial Planners Must Know this about Trusts and Estates


  • EVENT DATE:

    Jun 06, 2025

  • PRESENTER(s): Michael Miranda

  • 01:00 PM ET| 12:00 PM CT| 10:00 AM PT| 120 Minutes

  • Product Code::TL254



Description


CPAs and Financial Planners Must Know this about Trusts and Estates : 


This CPE Webinar delves into various types of trusts, such as Charitable Lead Trusts, Grantor Trusts, and Qualified Subchapter S Trusts (QSSTs) and Electing Small Business Trusts (ESBTs), providing in-depth insights into their unique features and applications. Additionally, it explores the taxation rules for trusts and estates, including exemption thresholds, tax reporting methods, and the importance of making estimated tax payments. The document also introduces key trust clauses, such as overflow clauses and defined value clauses, shedding light on their significance in optimizing trust structures.

  • In this course we will discuss the basics of trusts and their role in estate planning, emphasizing the importance of selecting the right trust structure to align with individual financial goals. It elaborates on the distinctions between revocable and irrevocable trusts, their tax implications, and the factors to consider when choosing between them. Furthermore, it introduces the concept of charitable trusts, explaining how they can be used to manage income taxation and emphasizing the necessity of charitable intent.

  • We will also discuss grantor trust clauses in detail, illustrating how they impact the taxation of trusts and the role of grantors in shaping trust dynamics. The webinar concludes by addressing the distinction between wholly grantor and partially grantor trusts, emphasizing the varying tax consequences associated with each.


Learning Objectives :-

  • To identify various types of trusts, including Charitable Lead Trusts, Grantor Trusts, and Qualified Subchapter S Trusts (QSSTs) and Electing Small Business Trusts (ESBTs), and understand their unique features and applications.
  • To explore the nuances between revocable and irrevocable trusts and their respective tax implications.
  • To gain a comprehensive understanding of trust structures and their role in estate planning.
  • To analyze the taxation rules and reporting requirements for trusts and estates, including exemption thresholds and the importance of making estimated tax payments.


Who Will Benefit:

  • CPA Enrolled Agents (EAs)|
  • Tax Professionals Attorneys
  • Other
  • Tax Preparers
  • Finance professionals
  • Financial planners


Credits and Other information:-

      - Session Duration: 2 Hours

      - Case Studies and Live Q&A session with speaker

      - Power Point presentation for reference

      - Session learning level: Basic

      - Delivery method: Group Internet Based

      - IRS Credits: 2 Tax Hours

       - Recommended field of study – Taxes

       - Session Prerequisites and preparation: None

       - Location: Virtual/Online

       - Attendance Requirement:  Yes


Speaker Profile:

Michael Miranda

Owner, MIRANDA CPA & Consulting LLC


Bringing 47 years of experience with tax consulting, estate planning, and employee benefits to his work as an independent consultant, Michael is the owner of MIRANDA CPA & Consulting LLC in Sioux Falls, SD. His tax practice focuses on corporate, individual, estate and gift, and tax accounting.  He also provides employee benefit planning and consultation services for qualified, non-qualified, and health and welfare benefit plans.  As part of his IRS representation practice, Michael has worked with the National Office to obtain private letter rulings and exempt organization determination letters for clients, in addition to numerous EPCRS submissions and audits.  As a nationally recognized tax speaker, he maintains an active schedule presenting webinars and seminars on tax law, employee benefit planning, and estate planning.  

Michael spent much of his career as a CPA with a regional CPA firm located in Northwestern Iowa, retiring after 27 years as a senior manager-shareholder with said firm.  Prior to this experience, he was a Tax Specialist with a Big 8 accounting firm in their South Bend and Minneapolis offices, providing tax and estate planning for individuals and small to medium-sized businesses.  He has earned professional designations including CPA, QKA, and AEP and through professional memberships with the American Institute of Certified Public Accountants (AICPA), the American Society of Pension and Professional Actuaries (ASPPA), National Association of Enrolled Agents (NAEA), and the National Association of Estate Planning Councils (NAEPC).  Michael resides in Sioux Falls, SD with his wife Jeanette.


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