Demystifying Distributable Net Income (DNI)

Date: Thursday, October 20, 2022
Time: 11:30am - 1:00pm
Location: Minnehaha Country Club & Webinar
Speaker: Jere Doyle

 

This program will discuss the theory behind distributable net income (DNI), how the Internal Revenue Code defines DNI and the three reasons why DNI is important. The program will review sample calculations of DNI, how DNI gets reported on a Form 1041 and how gains may enter into DNI. The program will also discuss how DNI gets allocated among the beneficiaries of a simple trusts and complex trust including a discussion of the tier system, the separate share rule, the 65 day rule, specific bequests and distributions in kind. This program will incorporate drafting techniques to incorporate into estate planning documents to achieve the best income tax results.

 

About the Speaker:

Jeremiah W. Doyle, IV, Esq.

Senior Vice President, BNY Mellon Wealth Management

Jere Doyle is an estate planning strategist for BNY Mellon's Private Wealth Management group and a Senior Vice President of Bank of New York Mellon. Jere is admitted to practice law in the Commonwealth of Massachusetts and before the United States District Court, United States Court of Appeals (First Circuit) and the United States Tax Court. He formerly served as a member of the Massachusetts Joint Bar Committee on Judicial Appointments. He is a co-author of the law school casebook The Income Taxation of Trusts and Estates published by Carolina Academic Press. He is the editor and co-author of Preparing Fiduciary Income Tax Returns, a contributing author of Preparing Estate Tax Returns, a contributing author of Understanding and Using Trusts, and a contributing author of Drafting Irrevocable Trusts in Massachusetts, all published by Massachusetts Continuing Legal Education. He is also a reviewing editor of the 1041 Deskbook published by Practitioner’s Publishing Company.  Jere is an adjunct professor of law in the Graduate Tax Program at Boston University School of Law.  Jere received a LL.M. in banking law from Boston University Law School, a LL.M. in taxation from Boston University Law School, a Juris Doctor from Hamline University Law School and a BS in accounting from Providence College. He is a Fellow of the American College of Trust and Estate Counsel (ACTEC). He served as president of the Boston Estate Planning Council and formerly served as a member of its Executive Committee and was a 20-year member of the Executive Committee of the Essex County Bar Association. He was named as the “Estate Planner of the Year” in 2009 by the Boston Estate Planning Council.

 

Registration for in-person attendance will close at 5 pm on Friday, October 14th.  

 

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