Income Taxation of Trusts and Estates: Fundamentals Every Estate Planner Should Know

Date: Tuesday, May 26, 2015
Time: 5:30pm - 8:00pm
Location: Santa Ana Country Club | 20382 Newport Boulevard | Santa Ana 92707
Speaker: Justin T. Miller, JD, LLM, CFP®

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As trust planning becomes more and more prevalent, the need to understand the federal and state income tax treatment of trusts has become more important than ever  This program will provide the practical fundamentals that every estate planner should know about fiduciary income taxation.  Different definitions of income, including Taxable Income (TI), Fiduciary Accounting Income (FAI) and Distributable Net Income (DNI), will be translated in a clear and concise manner, in order for practitioners to protect themselves from many of the traps for the unwary.  In addition, this program will review recent case law, IRS guidance and Treasury Regulations to help uncover opportunities for trustees to minimize the impact of the 3.8% surtax on net investments income (NII) and the higher tax rates on ordinary income, capital gains and dividends.

Programs topics include:

  • Grantor, Simple and Complex Trusts
  • Tax Income (TI), Fiduciary Accounting Income (FAI) and Distributable Net Income (DNI)
  • Tax Calculations, Deductions, Credits and Payments
  • Beneficiary Distributions
  • The 3.8% Surtax on Net Investment Income (NII)
  • The 2% Floor on Miscellaneous Itemized Deductions
  • State Taxation of Trusts

Justin T. Miller JD, LL.M, CFP® | National Wealth Strategist

As a national wealth strategist, Justin Miller works collaboratively with other advisors to provide comprehensive wealth planning advice to clients and their families.  He is a frequent speaker on tax, estate planning and family governance topics at professional education conferences throughout the country, including events hosted by the ABA, ACTEC, CalCPA, Golden Gate University, Santa Clara University, Silicon Valley Community Foundation, Stanford University, the State Bar of California, UCLA, Vistage International and YPO.  He also has been quoted as an industry expert in numerous publications, such as The Wall Street Journal, The Recorder, the Daily Journal, the Chicago Lawyer and the New York Law Journal.  In addition, Mr. Miller is an adjunct professor at Golden Gate University School of Law, an executive committee member of the State Bar of California Taxation Section, a member of the board of directors of the California Bar Foundation and an editor of the California Tax Lawyer.  He received a master of laws in taxation and a juris doctor from New York University School of Law and a bachelor's degree, with honors, from the University of California of Berkeley.

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