This basic-to-intermediate level seminar is designed for attorneys. It will also benefit trust officers, estate and financial planners, accountants and CPAs, investment advisers, and paralegals.
In this engaging legal course, experienced attorney faculty break down the use of revocable living trusts into simple tips and tactics. (see
full course description)
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Syllabus:
Improve Your Use of Revocable Living Trusts
In this engaging legal course, experienced attorney faculty break down the use of revocable living trusts into simple tips and tactics. Clarify when RLTs are used most effectively and avoid drafting and administration mistakes that could haunt your clients later down the line. Make the best use of this must-have estate planning tool - register today!
Compare RLTs to wills and determine which will serve your client better.
Get an update on the latest statutes, case law and IRS regulations governing estate planning.
Learn how to use RLTs to provide beneficiaries with credit protection.
Review sample trust provisions to avoid errors and same drafting time.
Avoid ethical missteps with real-life legal and fiduciary ethics scenarios and solutions.
KEY ESTATE TRANSFER LAWS 9:00 - 9:45, Sandra N. Busell
Definition of "Estate"
ATRA 2010 and Other Federal Laws
Current Federal Tax Rates and Exemptions
IRS Regulations and Guidance
State Tax Laws
REVOCABLE LIVING TRUST PLANNING VS. WILL-BASED ESTATE PLAN 9:45 - 10:15, Jeffrey A. Asher
Key Elements of the Estate Plan
Stand-Alone and Pour-Over Wills
Revocable Living Trust (RLT) vs. Will
Standards of Capacity
Tools and Features of the RLT
Incapacity Planning
Wealth Transfer Planning
Beneficiary Protection Planning
Spendthrift Provision
RLT Pros, Cons and Myths: When is it Right for Your Client?
RLT STRUCTURES 10:30 - 11:30, Jeffrey A. Asher
Joint vs. Separate RLTs
Credit Shelter Trusts in the Post-ATRA World
Asset Protection Trusts: Spendthrift and Discretionary
Directed Trusts and Trust Protectors
SNTs: Planning for the Disabled Beneficiary
Other Continuing Trust Structures
Use of Diagrams in Explaining Trust Structures to Clients
SPENDTHRIFT AND DISCRETIONARY TRUSTS 11:30 - 12:00, Jeffrey A. Asher
The Asset Protection Power of Spendthrift Provisions
Drafting Tips and Mistakes
Sample Spendthrift Provision Review
DRAFTING TIPS AND CLAUSES 1:00 - 2:00, Debby Rosenfeld
General RLT Outline and Clauses
Structuring Sub-Trusts
Planning for the Time when the Main Trust and the Drop-Down Trusts Become Irrevocable
Distribution of Trust Income and Principal During the Grantor's Lifetime
Repercussions of Imprecise Drafting
ETHICS IN TRUST PLANNING 2:15 - 3:15, Steven A. Kass
Representing the Trustee
Multiple Representation
Duties to Beneficiaries
Confidentiality
Conflicts of Interest
Fiduciary Duty
Legal Fee and Retainer Agreement
FUNDING THE REVOCABLE TRUST 3:15 - 4:30, Martin L. Lerner
Ownership and Beneficiary Designations
POD and TOD Designations
Retirement Plans and Annuities
Real Estate
Personal Property and Other Assets
Pour-Over Wills
Seminar Summary:
In this engaging legal course, experienced attorney faculty break down the use of revocable living trusts into simple tips and tactics. (see
full course description)