[Series 66] 16, Individuals Businesses Trusts and Estates

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: - Key tax and liability distinctions among sole proprietorships, partnerships, LLCs, C corporations, and S corporations. - Restrictions governing S corporations, including the maximum shareholder limit and single class of stock requirement. - Differences between revocable and irrevocable trusts regarding grantor control and estate inclusion. - Characteristics distinguishing simple trusts from complex trusts on the Series 66 exam. - Essential fiduciary rules for verifying legal authority when opening and managing trust and estate accounts. This independent study resource is designed for candidates preparing for the Series 66 exam. Practice more questions at https://open-exam-prep.com/practice/series66 and watch video tutorials at https://www.youtube.com/@Open-exam-prep . Sources checked: September 14, 2026 - https://www.nasaa.org/wp-content/uploads/2023/02/Series-66-Outline-June-2023.pdf - https://www.nasaa.org/exams/general-exam-information/series-66-exam-content-outline/