Course ID: 20678 | Course Duration: 1 Day

Financial Planning for the Estate Training Class

Course ID: 20678

Financial Planning for the Estate Training Seminar

Create Simple Actionable Plans to Protect Your Clients' Financial Interests

Do you have the skills you need to navigate the crucial steps involved in financial planning for the estate? Learn what steps are involved in planning for the client's estate, so you can ensure your client has enough funds to live out his/her life comfortably and leave the rest to his/her family with minimal tax expenses. Help your client plan ahead in order to avoid problems down the road with this comprehensive step-by-step program - enroll today!

Gain a clear understanding of your client's goals: know what questions to ask during the initial interview.
Categorize assets for the most favorable taxation.
Learn to identify and avoid common pitfalls in representing mentally incapable clients.
Minimize your client's taxable portion of the estate with tried and true planning techniques for simple trusts.
Explore creative cost-effective ways to fund supplemental needs trusts.
Hear it from seasoned attorneys: rookie drafting mistakes everyone has made and how you can easily avoid them.
Learn how to manage other people's money without fear of ethical violations.
Prepare your practice for the 2010 suspension of estate tax and its plausible effect on existing estate plans.
Find out what additional requirements exist in qualifying clients for Medicaid and why planning ahead is more important than ever before.
Simplify the process and avoid missing steps with our sample forms and checklists.
Engage in a dynamic discussion of the impact Rangel's proposed tax reform would have on estate planning practice and get ready to adapt to the new regulations.


	Agenda
	Follow Crucial First Steps 9:00 - 10:10 Donald (Greg) Stonebarger Take Financial Inventory (Determine Total Wealth and Allocation of Assets Among Spouses) Determine the Client's Short-Term and Long-Term Goals Consult With a Financial Planner to Forecast Future Expenses Determine the Client's Family Dynamics and Risk Comfort Level Transfer Assets to Minimize Taxes 10:10 - 11:15 Joshua Mathews Plan Gifts (Who is to receive the gift, which type of asset to use for the gift, minimizing estate, gift and GST taxes, how to report the gifts to the IRS, annual and lifetime exemptions, gifting techniques, and more) Plan Investment and Asset Transfers (Using trusts, annuities and business formations to minimize the taxable estate) Plan Charitable Giving (Qualifying the receiving charity organization, what documents to request confirming the donation, reporting guidelines, etc.) Plan for Long-Term Care (Funding strategies, the use of trusts to qualify for Medicaid, and more) Create Transfer Timeline Create/Organize Legal Documents 11:30 - 12:35 Joshua Mathews The Necessity of Advance Directives (Power of Attorney, Health Care Proxy, Living Will, HIPAA Release Authorizations, Burial and Funeral Designations, etc.) Wills and Trusts - Making the Client's Wishes Known Drafting Language Do's and Don'ts Spendthrift Provisions Crummey Powers Making Sure All Documents are Enforceable and Work Well Together Plan for Spouse and Dependents 1:35 - 2:40 Donald (Greg) Stonebarger Special Needs Trusts for Minors and Disabled Family Members Ensure the Surviving Spouse is Provided for (Marital deduction, credit shelter trusts, marital trusts, irrevocable life insurance trusts, etc.) Maintain an Ethical Practice 2:55 - 3:55 Joshua Mathews Who Is Your Client? Avoid Conflicts of Interest Determine and Collect Fair Attorney's Fees Additional Duties of Attorneys Acting as Fiduciaries Prepare for 2010 Uniform Credit Changes and Discuss Rangel's Proposed Federal Tax Reform 3:55 - 4:30 Joshua Mathews and Donald (Greg) Stonebarger