This course examines some of the strategies that are available to achieve income tax savings in the administration of trusts. The recent increase in the top tax rate to 39.6 percent and the imposition of a new 3.8 percent surtax on net investment income (NII) have increased the importance of income tax planning. This is particularly the case for trusts, which are subject to a highly compressed tax rate schedule. Upon completion of this course, you will be able to: Identify the rules used to make allocations of receipts and disbursements between principal and income; Recognize the mechanism by which trust distributions are taxed to the beneficiaries; Identify the methods for shifting the tax on capital gains from the trust to beneficiaries; and Identify the classes of income subject to the NII tax and opportunities to minimize its impact.