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CSTC Academy - What to Do With an A/B Trust That No Longer Makes Sense
Tuesday, July 07, 2020, 10:30 AM - 12:10 PM PDT
Category: CSTC Academy

Tuesday, July 7, 2020
10:30 AM to 12:10 PM

Topic: What to Do With an A/B Trust That No Longer Makes Sense
Speaker: Frank Acuña, Attorney at Law
2 Federal Tax Law Hours
IRS: 18QC1-T-01352-20-O
CTEC: 1000-CE-4746

Course Description:
Do you remember when the estate tax exemption equivalent was $600,000? Many of our clients' estate planning (through 2012) was based on "permanent" exemption equivalents of $600,000 or $1,000,000. What should be done about those "unneeded" A/B trusts now? What if one of the spouses has died? Are we stuck with the trust, or are there ways to deal with those trusts? What if the effect of the A/B trust is to subject our clients to needless capital gains tax due to the loss of the second basis step-up? This practical, hands-on seminar is taught from the perspective of legal and tax advisors who will be meeting with a surviving spouse.

Knowledge Level: Overview

Learning Objectives:

#1: Review basic trust structures used since 1986, and the tax problems caused by A/B Trusts.

#2: Understand TCJA changes.

#3: Demonstrate how old or "stale" A/B trusts can be revised, restated, or revoked to become tax-effective again.

Frank Acuña, Attorney at Law

Frank R. Acuña is a founding partner of ACUÑA ❖ REGLI. He is a California State Bar certified estate planning, trust, and probate law specialist. His practice includes estate planning; inheritance litigation; business succession planning; special needs trusts; and farm, ranch, and vineyard succession planning. Mr. Acuña has taught tax seminars for the National Tax Practice Institute, the California Society of Enrolled Agents, the California Society of Tax Consultants, a number of state and local chapters of the National Association of Enrolled Agents, and the American Institute of Certified Public Accountants. Mr. Acuña also is a featured speaker for the Professional Fiduciary Association of California, the National Guardianship Association, and the California Public Administrators, Public Conservators, and Public Guardians. He advises tax, fiduciary, and real estate professionals throughout the State of California.


Contact: [email protected] or 949-715-4192