• Types of trusts
• Trustee powers
• Recognition and realization of income
• Elements of an estate
• Taxation of trusts and estates
• Basic concepts of estate planning
Learning Objectives
When you complete this course, you will be able to: • Identify the elements of trusts and estates.
• Recall the filing requirements for estates and trusts.
• Indicate how electing small business trusts are taxed.
• Identify which deductions and credits are allowed for estates and trusts.
• Recall the significance of the Uniform Principal and Income Act (UPAIA).
Major Topics
• Types of trusts
• Trustee powers
• Recognition and realization of income
• Elements of an estate
• Taxation of trusts and estates
• Basic concepts of estate planning
