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Fundamentals of Trust Administration Training Class
Course ID: 18260
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Fundamentals of Trust Administration Training Seminar
Ensure your clients' financial stability with effective trust administration!
Your firm may use some of the most sophisticated tools available to establish strong estate plans for your clients, but the true test of that plan comes with its implementation. In order to bring all your carefully laid plans to fruition, you need to be up to speed on the issues you may face when called on to administer an existing trust. Don't miss this opportunity to strengthen your knowledge and skills. This extensive seminar will provide you with the solid foundation you need to successfully administer trusts. Register today!
- Become more efficient: learn what major provisions to look for when you're reviewing an existing trust.
- Explore the laws and rules governing the trustees and find effective ways to communicate information to them.
- Help the trust run smoothly: learn how to notify beneficiaries and creditors, marshal assets and determine when and what to distribute.
- Keep the peace in the family: avoid and resolve disputes between interested parties with tact and speed.
- Categorize assets correctly to minimize the tax impact.
- Protect yourself from allegations of impropriety: avoid conflicts of interest by identifying clearly who your client is.
- Gain a step-by-step overview of what needs to be done to terminate a trust.
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Agenda |
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- MAJOR PROVISIONS OF A TRUST
Tammy Koester Parks, 8:30 - 9:40
- What is the Overall Goal of the Trust?
- Who Are the Designated Beneficiaries?
- The Term of the Trust
- Distribution - Mandatory or Discretionary?
- Succession of the Trustees
- Spendthrift Provisions
- Crummey Powers in Irrevocable Trusts
- THE LAWS AND RULES GOVERNING TRUSTEES
Daniel G. Mohan, 9:40 - 10:50
- Principal and Income Act
- Trust and Trustees Act
- Uniform Prudent Investor Act
- The Powers of the Trustee
- Duties and Responsibilities of the Trustee
- Liabilities of the Trustee
- Effectively Conveying to the Trustees What Their Duties Are
- NON-MONETARY ASPECTS OF TRUST ADMINISTRATION
Jeffrey A. Goldman, 11:05 - 12:15
- Initial Notices and Actions
- Conducting Inventory of Assets
- Modifying the Trust Documents and Changing Situs
- Reporting to the Beneficiaries
- Resolving Disputes
- Overcoming Power of Attorney Challenges
- KEEPING THE BOOKS - ACCOUNTING IN TRUST ADMINISTRATION
David P. Weller, 1:15 - 2:30
- Investment Decisions and the Prudent Investor Rule
- Practical Tips for Valuing the Assets
- Special Considerations in Managing Diverse Assets
- Funding the Trust
- Effective Communication With Creditors
- Increasing/Decreasing Distribution Amounts
- Complying With Taxation Requirements
- Income Tax
- Gift Tax
- Capital Gains Tax
- State and Federal Estate Tax
- Generation-Skipping Transfer Tax
- OVERCOMING ETHICAL CHALLENGES
Tammy Koester Parks, 2:45 - 3:35
- Identifying the Client
- Additional Challenges that Lawyer-Trustees Face
- Handling the Client's Diminishing Capacity
- Determining and Collecting Attorney Fees
- Conflicts of Interest Between Settlor, Spouse, Trustee, Beneficiaries, Settlor's Heirs, Creditors and Any Combination of the Above
- ESSENTIAL STEPS IN TRUST TERMINATION
Jeffrey A. Goldman, 3:35 - 4:40
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Audience |
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This basic-to-intermediate level seminar is designed for legal and business professionals interested in effectively administering trusts:
- Attorneys
- Paralegals
- Trust Officers and Administrators
- Accountants and CPAs
- Financial Planners
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Fundamentals of Trust Administration Training Course Dates and Locations
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Course ID: 18260
| Course Duration: 1 Day
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Locations: |
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