Strategic Use of Trusts in Tax and Estate Planning, 3rd Edition - AnswerConnect

Strategic Use of Trusts in Tax and Estate Planning provides comprehensive and concise coverage of practical strategies and tactics to maximize the use of trusts in tax, estate, and financial planning.

The 3rd edition is fully updated and comments in detail on the many areas that have significantly changed since the previous edition (from 2016): tax on split income (TOSI), US estate tax developments, principal residence exemption changes, and much more. Here are just some of the topics that are covered in depth in this new edition.

• New Tax on Split Income rules (TOSI)
• Who is subject to TOSI;
• How TOSI applies in a variety of situations - including different corporate structures, inheritances, spouses living separate and apart, prescribed loans, and multiplication of the capital gains exemption
• Changes to the taxation of testamentary trust income, including
• Evaluation of testamentary spousal and family trusts as a valuable tax planning strategy;
• Pros and cons of using a trust vs. an enduring power of attorney;
• Combining a tainted and a regular testamentary spousal trust; and more
• Recent amendments to the principal residence exemption
• Which trusts can still benefit from the exemption;
• How to handle trusts that can no longer benefit from the deduction; and
• A discussion of the transitional rules
• US Estate Tax - Trump's Tax Reform
• A review of recent cases and developments on a variety of topics, including attribution rules, GAAR, and graduated rate estates ("GREs")
• New trust reporting requirements
• Tips and traps of alter ego trusts, self-benefit trusts, and joint partner trusts