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Early Termination of Trusts: Panacea or Professional Negligence?



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Recording and Slides are Available Here


In this day and age of high federal estate tax applicable exclusion amounts, many clients desire to terminate trusts that they perceive to no longer have value in their estate planning. These could be by-pass trusts, life insurance trusts or other irrevocable trusts. However, trust terminations have tax consequences. Do you know what they are?  

In their exclusive 90 minute LISI Webinar presentation, Paul Hood and Ed Morrow will methodically and carefully take you through those tax consequences, some of which might really shock you. They'll also point out where the law is unsettled in this area. If you aren’t positive of the tax consequences of trust termination, you need to attend this webinar! Best of all, Paul will cover sample documents you can use in your practice!

Here's a list of just some of the topics Paul and Ed will cover in this content-packed webinar:

  • The potential tax consequences of a simple trust termination.
  • How the role that the U.S. Supreme Court’s decision in Cottage Savings could play in the determination of the income tax consequences.
  • Do you fully understand all of the potential income tax consequences of a decanting?
  • The Black Hole of basis, IRC Sec. 1001(e), and some creative ways around it.
  • The estate, gift  and generation-skipping transfer tax consequences of reformations, terminations and decantings
  • Review a sample CYA letter for clients who want to terminate trusts warning about the potential income tax consequences.


There will be no CE for this webinar


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Edwin Morrow, J.D., LL.M., MBA, CFP®, CM&AA®  is a board certified specialist in estate planning and trust law through the Ohio State Bar Association and a Fellow of the American College of Trust and Estate Counsel (ACTEC). He is based in Cincinnati, Ohio as a Wealth Strategist for the eastern U.S. region of U.S. Bank Private Wealth Management and can be reached at edwin.morrow@usbank.com. Ed is a co-author with Paul of Tools and Techniques of Estate Planning, 19th Edition



A native of Louisiana (and a double LSU Tiger), Paul Hood obtained his undergraduate and law degrees from Louisiana State University and an LL.M. in taxation from Georgetown University Law Center before settling down to practice tax and estate planning law in the New Orleans area. Paul has taught at the University of New Orleans, Northeastern University, The University of Toledo College of Law and Ohio Northern University Pettit College of Law. The proud father of two Eagle Scouts and LSU Tigers, Paul has authored or co-authored seven books and hundreds of professional articles on estate and tax planning and business valuation. He was with The University of Toledo Foundation for over four years as Director of Planned Giving, leaving in January 2018. He can be contacted at paul@paulhoodservices.com


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