Now including all eight volumes updated in this edition, Scott and Ascher on Trusts, Fifth Edition (formerly published as Scott on Trusts) is widely regarded as the leading authority on the law of trusts. It offers practical advice on the creation, administration, and termination of all kinds of trusts, as well as incisive analysis of the underlying principles of trust law.

The duties of trustees and the rights of beneficiaries, would-be beneficiaries, and third parties are constantly being changed and redefined. This preeminent resource keeps you abreast of the latest developments in trust law, enabling you to resolve trust problems efficiently and effectively with regular updates integrating the latest court decisions and legislative changes. It allows you to examine the full range of your options at every stage, from client counseling to final distribution.

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Mark L. Ascher. J.D., LL.M.,

Brings you up to date on the latest developments in this complex and constantly changing area.

Only customers of the existing book, Federal Income Taxation of Estates, Trusts & Beneficiaries should order this product if they are not on a standing order basis to receive supplements.

1. The Income Tax Meaning of Estates and Trusts
2. Decedent's Income Tax Liability for the Year of Death
3. Income in Respect of Decedents
4. Partnership Interests
5. Distributable Net Income
6. The Charitable Deduction
7. Distributions
8. The Passive Activity Rules
9. The Throwback Rule
10. Grantor Trusts
11. Split-Interest Charitable Trusts
12. Termination and Modification
13. The Executor's Personal Liability for Federal Taxes of the Decedent and the Estate

Table of Cases
Table of Internal Revenue Code Sections
Table of Treasury Regulations
Table of Revenue Rulings
Table of Federal Statutes
Table of State Statutes
Table of Uniform and Model Acts
Table of Restatements of Law
Index

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Practical Guide to Estate Planning, 201

If you would like more details about this product, or would like to order a copy online, please click here.

Only customers of the existing book, Federal Income Taxation of Estates, Trusts & Beneficiaries should order this product if you are not on a standing order basis to receive supplements.

Provides step-by-step guidance for dealing with the problems of preparation of the decedent’s final return, characterization of income in respect of a decedent, computation of distributable net income (DNI), the interaction of the system of taxation of trusts and estates and the passive activity rules, the grantor trust rules, and the rules relating to split interest charitable trusts.

CONTENTS:
1.    The Income Tax Meaning of Estates and Trusts
2.    Decedent's Income Tax Liability for the Year of Death
3.    Income in Respect of Decedents
4.    Partnership Interests
5.    Distributable Net Income
6.    The Charitable Deduction
7.    Distributions
8.    The Passive Activity Rules
9.    The Throwback Rule
10.    Grantor Trusts
11.    Split-Interest Charitable Trusts
12.    Termination and Modification
13.    The Executor's Personal Liability for Federal Taxes of the Decedent and the Estate

If you would like more details about this product, or would like to order a copy online, please click here.

Available: June 2012

Author: Mark L. Ascher

Only customers of the existing book, Federal Income Taxation of Estates, Trusts & Beneficiaries should order this product if you are not on a standing order basis to receive supplements.

Provides step-by-step guidance for dealing with the problems of preparation of the decedent’s final return, characterization of income in respect of a decedent, computation of distributable net income (DNI), the interaction of the system of taxation of trusts and estates and the passive activity rules, the grantor trust rules, and the rules relating to split interest charitable trusts.

CONTENTS:

1. The Income Tax Meaning of Estates and Trusts
2. Decedent's Income Tax Liability for the Year of Death
3. Income in Respect of Decedents
4. Partnership Interests
5. Distributable Net Income
6. The Charitable Deduction
7. Distributions
8. The Passive Activity Rules
9. The Throwback Rule
10. Grantor Trusts
11. Split-Interest Charitable Trusts
12. Termination and Modification
13. The Executor's Personal Liability for Federal Taxes of the Decedent and the Estate

Loose-leaf book

Related books:

• Federal Estate & Gift Taxes: Code & Regulations (Including Related Income Tax Provisions), As of 03/2012
• Estate Planning (2013 Edition) (U.S.) 
• U.S. Master Estate and Gift Tax Guide (2013) 
• Estate and Retirement Planning Answer Book, 2012 Ed. U.S.

If you would like more details about this product, or would like to order a copy online, please click here.

Provides concise, plain-English coverage of fundamental rules for preparing a decedent's final income tax return and highlights the income tax rules for the decedent's estate and related trusts. Also covered are the special rules regarding the taxation of grantor trusts and bankruptcy estates. Fiduciary duties, including liability for filing a return and paying any taxes due on behalf of the estate or trust, are also thoroughly discussed. Examples illustrating these rules are provided throughout

Among the subjects covered in this quick answer reference are:
- Decedent's last return
- Death of a partnership member
- Decedent's stock holdings
- Income tax return of estate or trust
- Grantor trusts
- Beneficiary's tax liability
- Bankruptcy estates
- Fiduciary duties and liabilities

If you would like more details about this product, or would like to order a copy online, please click here.

At the death of the decedent, a separate taxable entity, the decedent's estate, is created. A fiduciary is appointed to take over administration of the decedent's estate. The representative gathers the assets, files the decedent's final income tax return, satisfies tax liabilities, oversees creation and funding of any testamentary trusts, which become separate taxpaying entities. The estate is liable for the tax on the income received during the period of its administration and the fiduciary oversees preparation of all tax forms required including the final income tax return and any estate and gift tax returns that are due.

This book provides concise, plain-English coverage of these issues and more. It presents the fundamental rules for preparing a decedent's final income tax return and highlights the income tax rules for the decedent's estate and related trusts. Also covered are the special rules regarding the taxation of grantor trusts and bankruptcy estates. Fiduciary duties, including liability for filing a return and paying any taxes due on behalf of the estate or trust, are also thoroughly discussed.

Among the subjects covered in this quick answer reference are:

• Decedent's last return
• Death of a partnership member
• Decedent's stock holdings
• Income tax return of estate or trust
• Grantor trusts
• Beneficiary's tax liability
• Bankruptcy estates
• Fiduciary duties and liabilities

Published: June 2012

Comprehensive coverage is the hallmark of Examples & Explanations: Wills, Trusts, and Estates, Fifth Edition. It combines textual material with well-written examples, explanations, and questions to test students’ comprehension and provide them with practice in applying information to fact patterns. It includes comprehensive questions which present a variety of issues in one fact situation.

Topics covered:

• Transfer of death deeds
• Self-settled spendthrift trusts
• The Rule Against Perpetuities reform
• Federal Gift, Estate, and Generation-Skipping Transfer Tax
• Uniform Trust Code
• The rights of same-sex partners
• Medicaid planning
• Physician-assisted suicide
• Intestacy
• Wills and trusts, including non-probate assets
• Disability and death planning
• Malpractice and professional responsibility

If you would like more details about this product, or would like to order a copy online, please click here.

Trusts have become extremely valuable tools when planning for the continuance of a person's estate, and are often used in business succession planning as well. For example, discretionary trusts are one of the most flexible tax planning tools available. However, there are many types of trusts, and each can be used to tailor specific planning needs.



Just as trusts are a valuable tool, there are also many tax and legal traps that one needs to be cognizant of when using them in client situations. For example, the very creation of the trust can be particularly troublesome if it is not set up with the correct attributes or if assets are not transferred to it correctly.

This 2 hour webinar will provide a practical and complete overview of the legal definitions and considerations of various trust types, as well as reviewing important tax considerations when planning with trusts. Examples of suggested tax planning structures and related tips will also be provided.



More specifically, topics covered will include:

• What elements are required for a properly created trust
• Tax issues to review when creating a trust and in particular the tax attribution rules
• Review of types of trusts used in estate and business planning - including insurance trusts, spendthrift trusts, asset protection trusts, private foundation trusts and trusts created for probate and estate tax minimization and income splitting
• Change of trustees - change of control from a tax perspective
• What are the tax and other limitations of amending a trust once created
• What ongoing obligations do trustees have to beneficiaries, including reporting and trust accounting

If you would like more details about this product, or would like to order a copy online, please click here.

A Practical Guide to Estates and Trusts provides pertinent estate and trust compliance information for professionals who complete tax returns for estates and trusts. Accountants and lawyers who provide advice on the administration of estates or trusts will find the tips and checklists provided by the author, helpful in the planning process.

Since the last edition was published, there have been substantial changes that impact estate planning in the form of budgetary pronouncements, legislative changes, new case law, and CRA administrative positions.

The new edition of A Practical Guide to Estates and Trusts has been updated to include:

• all legislative changes to October 2010
• new CRA administrative filing requirements
• new CRA technical interpretations
• new court cases with respect to trust residency determination

Other topics covered include:

• Estate Administration
• Calculating Income Taxes Payable
• Income and Capital Interest in Trusts
• Family Trusts
• Executor's Compensation
• Estate Accounting
• Capital Gains Deduction
• Allocations – Designations
• Anti-Avoidance Rules
• The 21-Year Deemed Disposition Rule

The author provides guidance on completing appropriate Canada Revenue Agency forms. Selected Interpretation Bulletins and Information Circulars are reproduced to further assist in the completion of the relevant forms.

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If you would like more details about this product, or would like to order a copy online, please click here.

Earlier, such registrations/approvals were granted without any specific expiry period unless specifically withdrawn by concerned tax authority. Under the new law introduced by Finance Act 2020 and effective from June 1, 2020, all such registrations/ approvals would now be issued with an expiry period of 5 years.