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How to Shift Income to Beneficiaries


Cost Free
Presentation Length 1.5 hours

Recorded DateSeptember 12, 2022
CPE:Not available
(archived webinars do not offer CPE credits)
Subject AreaTaxes
Course LevelBasic
Course Description

Fiduciary Income Tax Refresher and Latest Update 2022 provides an overview of fiduciary income tax strategies. This webinar focuses on non-grantor trusts. We will provide a closer look at standards for making distributions and explain 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)—or no standard at all. We will spend more time on when capital gains are included in DNI and when items that are not FAI are included in DNI.

Learning Objectives:

  • Determine how HEMS can be flexible and the estate and gift tax consequences of using HEMS or no standard

  • Determine what items comprise DNI that are not necessarily FAI

  • Identify when capital gains are included in FAI and how to distribute capital gains

  • Recall how ownership of partnerships and S corporations complicates the interaction between DNI and FAI and what to do about it

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Thompson coburn llp

Steve has drafted trusts and a full range of estate planning documents for clients to help grow, preserve, and transmit their family wealth. He has also prepared organizational documents for limited liability companies, corporations, and partnerships to implement their owners' wishes regarding current and future control and transmission, including bringing in new owners and facilitating exit strategies. 
Steve enjoys helping clients structure their affairs to achieve their personal, business, and financial goals while reducing the drag that taxes imposed on them. His firm provides full service to businesses; however, he also acts as counsel on specialized matters while cooperating and facilitating the continued involvement of an existing legal, accounting, and financial services team. Steve maintains his CPA license but prefers to refer income tax returns to practicing CPAs.

Steve Gorin is the former president and an ongoing contributor to Covenant Place’s strategic initiatives. It is a senior affordable housing community with a groundbreaking model for integrated residents with the surrounding community and facilitating holistic services to enrich their lives. 
To know more about Steve Gorin, kindly click on the link below:
For various free resources Steve offers, see

About Our Presenter

Thompson coburn llp

For approximately 90 years, Thompson Coburn LLP has provided the quality legal services and counsel our clients demand to achieve their most critical business goals. Whether helping with a tax, estate planning, real estate or employment issue, navigating a complex acquisition or defending a product or service in litigation, we have the knowledge and resources to meet any legal need.

With over 380 attorneys, we have experience in more than 50 areas of the law. Supported by our firm's state-of-the-art technology, lawyers in our Chicago, Dallas, New York, Los Angeles, Southern Illinois, St. Louis and Washington, D.C. offices enjoy a nationwide practice.