Understanding Income Tax Issues that Trusts Impose on a Family


Understanding Income Tax Issues that Trusts Impose on a Family

Start 11/17/2023 - 3:00 PM
End 11/17/2023 - 4:50 PM


Lawyers who draft trust agreements need to understand the income tax issues that trusts impose on the family after the grantor dies.

Gain an overview of the basics of income taxation of trusts and estates, while also learning the standards for making distributions,  and how the ideas of distributable net income (DNI) and fiduciary accounting income (FAI) interact.
Distributions can be made using ascertainable standards—health, education, maintenance, and support (HEMS)


no standard at all.

Our presenter will also discuss when capital gains are included in DNI and when items that are not FAI are included in DNI.


Learning Objectives: 

  • Outline the basics of how taxable items are allocated to a trust/estate or its beneficiaries
  • Determine how HEMS can be flexible and the estate and gift tax consequences of using HEMS or no standard
  • Define what items comprise DNI that is not necessarily FAI
  • Identify when capital gains are included in FAI and how to distribute capital gains



Steven B. Gorin, Thompson Coburn LLP


2 NY Credits: 2 Skills; Transitional and Non-transitional; 2 NJ Credits: 2 General



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