Chen Li, Esq. (http://VanarelliLaw.com/) will present on Trusts and Trust Taxation Issues impacting the New Jersey Probate and Trust Administration Process in an online seminar given by the National Business Institute (NBI) on December 15, 2022.
Ms. Li will discuss aspects of the probate process and trust administration in New Jersey. Specifically, Ms. Li will first provide a general overview of “What You Need to Know About Trusts.” In the overview, Ms. Li will cover the various types of trusts and their purposes; the duties and powers of a trustee; the valuation of trust assets; how to fund a trust; appropriate communication with beneficiaries; amending and modifying a trust; and trust accountings/distributions. Ms. Li will also provide a trust administration checklist and sample trust forms and related documents. Trust taxation issues will also be covered, including the preparation of trust tax returns; the tax consequences of trustee actions; and, the types of taxes due, including income taxation estate and generation-skipping transfer taxes, real property taxes and the tax consequences of paying retirement benefits to trusts. For additional information regarding this event, readers may contact NBI at (800) 930-6182 or visit the NBI website at https://www.nbi-sems.com.
Chen Li, Esq. is a partner with the law firm of Vanarelli & Li, LLC. Vanarelli & Li, LLC, located in Westfield, New Jersey, provides a broad range of legal services for seniors, the disabled and their families, and families in conflict. The firm successfully guides our clients through the complex areas of elder law, estate planning and administration, income, estate and gift tax laws, public benefits planning, trusts, probate, trial advocacy and court procedures, and the administrative process.
Chen Li has been an attorney since 2002, admitted to practice law in New Jersey and New York. Chen earned a B.A. from Queens College, City University of New York. She obtained her J.D. from St. John’s University. Chen is also a certified public accountant. Before becoming an attorney, she worked for Ernst and Young, LLP and Dreyfus Realty Advisors, Inc. After law school, Chen worked as an attorney in law firms with concentration on elder law, estate planning and estate administration. Chen joined the firm in 2007.
For additional information regarding elder law and estate planning issues, guardianships, Medicaid planning and probate litigation, contact Vanarelli & Li, LLC at 908-232-7400, or visit us online at http://VanarelliLaw.com/.
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