Episode
[Series 65] 38, Trusts and Estates as Clients
- Podcast
- Open Exam Prep
- Published
- May 1, 2026
- Duration seconds
- 203
- Processing state
not_requested
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Summary
This podcast is made by Ran Chen, who holds an EA license, Insurance and Securities licenses (Series 6, 63, 65), and the CFP® designation. He is passionate about opening access to high-quality exam preparation resources and helping learners prepare more effectively for professional certification exams. In this episode you will learn: - The key tax and control differences between revocable and irrevocable trusts. - The fiduciary responsibilities of a trustee under the Uniform Prudent Investor Act. - How trusts and wills interact with the probate process in estate planning. - The purpose and application of the Generation-Skipping Transfer Tax (GSTT). - A mnemonic to easily distinguish between revocable and irrevocable trusts for the exam. For more free exam prep tools, practice questions, and AI-powered explanations, visit https://open-exam-prep.com/ or YouTube Channel: https://www.youtube.com/@Open-exam-prep