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A Detailed Overview of Estate Planning Procedure and Strategy

Do you have all the knowledge and skills you need to draft tailored testamentary documents and minimize tax burdens for each of your clients? This two-day comprehensive course will become your ultimate guide to estate planning. From client intake through tax planning and business succession strategies, you will receive tips, sample forms and answers to your most pressing questions to help you excel. Get the latest knowledge on effective will and trust planning techniques - register today!

  • Get two full days of estate planning training, so you can help clients protect and transfer assets exactly as they intend.
  • Get practical will and trust drafting skills to speed up the process and give the testator's last wishes power.
  • Stave off conflicts of interest with a clear determination of who your client is from the start.
  • Explore the pros and cons of using a revocable living trust in the will's stead and find out when it's a better option.
  • Explore the functions and mechanics of major trust structures - and make certain you choose the right tool for each job.
  • Give each provision full power with precise word choices - get sample forms to speed up the process.
  • Make sure your remarried and unmarried clients know the default inheritance laws and help them make sure the right beneficiaries are assigned.
  • Minimize the taxable estate with effective tax planning techniques.
  • Phrase the fiduciary and beneficiary designations to leave no room for interpretation.
  • Help your clients make the tough medical decisions regarding long-term care, end-of-life and organ donation.
  • Learn how to verify and document the testator's competency to close the door on any potential will contests.

DAY 1

  1. CLIENT SCREENING AND INTAKE
    9:00 - 10:00, Amy Acheson
    1. Clarifying Goals and Forecasting Needs
    2. Assessing Current and Future Assets and Debts
    3. Dealing with Family Dynamics: Past, Present and Future
    4. What to Look for in Reviewing Existing Estate Plans
    5. Sample Info Gathering Forms and Checklists
    6. Determining Your Overall Estate Plan Strategy
      1. for an Estate not Subject to Estate Tax
      2. for an Estate Potentially Subject to Estate Tax
      3. for an Estate Subject to Estate Tax
  2. KEY ELEMENTS OF EFFECTIVE WILLS
    10:15 - 11:15, Amy Acheson
    1. Establishing Statutory Framework
    2. Types of Wills
    3. Testator's Competency - Verifying and Documenting
    4. Beneficiary Designations and Distributions in Retirement Plans and Life Insurance
    5. Titling Assets
    6. Sample Will Provisions
    7. Updating Will Documents
  3. BASIC TAX PLANNING
    11:15 - 12:15, Matthew J. Carl
    1. Estate Tax Update
    2. Step-up Basis of Various Assets
    3. Gift Tax and Exclusions
    4. Generation-Skipping Transfer Tax
    5. Planning for the Final Income Tax Return
    6. Trust Taxation Basics
    7. Disclaimer Trusts
    8. Crummey Powers and the IRS
    9. Typical Creditors and How to Deal with Them
    10. Simple Tips for Minimizing Tax Burden
    11. Tax Treatment of Trusts
  4. DOCUMENTING LONG-TERM CARE, INCAPACITY AND END-OF-LIFE DECISIONS
    1:15 - 2:15, Elizabeth A. Beroes and John F. Morris
    1. Medicaid Planning Overview
    2. Long-Term Care Options and Planning in a Nutshell
    3. Special Needs Trusts
    4. Advance Medical Directives
    5. Powers of Attorney
    6. DNR Orders and Organ Donation Considerations
  5. PLANNING FOR UNMARRIED AND REMARRIED COUPLES
    2:15 - 3:15, Elizabeth A. Beroes and John F. Morris
    1. Pre- and Post-Marital Agreements
    2. Planning for Children from Previous Marriage(s)
  6. BUSINESS SUCCESSION PLANNING
    3:30 - 4:30, Matthew J. Carl
    1. When the Business is Transferred to the Beneficiary in Full
    2. Buy-Sell Agreement Basics
    3. Business Structure Conversion
    4. Minimizing Tax Burden in Transferring Ownership
    5. Business Valuation and Sale

DAY 2

  1. TRUSTS 101
    9:00 - 10:00, John W. Giltinan
    1. Types, Goals and Functions of Trusts
    2. Major Laws Governing Trust Creation and Administration
    3. Who are the Main Parties? Their Duties and Responsibilities to a Trust
    4. Revocable vs. Irrevocable
    5. Choosing Trust Situs
    6. Trust Funding Basics
  2. WHO IS THE FIDUCIARY?
    10:15- 11:15, John W. Giltinan
    1. Personal Representatives and Trust Officers: Powers and Duties
    2. Helping Clients Pick the Fiduciary(ies)
    3. Your Contact with the Personal Representative
    4. Trust Protectors and Advisers
    5. Fiduciary Liability
  3. REVOCABLE LIVING TRUSTS
    11:15 - 12:15, Richard R. Tarantine
    1. Traditional Estate Planning vs. Revocable Trust Planning
    2. Credit Shelter Trusts
    3. Marital Deduction Trusts
    4. Qualified Terminable Interest Trusts (QTIPs)
    5. Drafting Tips and Samples
    6. Common Mistakes to Avoid
  4. TRUSTS USED FOR TAX REDUCTION - DRAFTING TIPS AND SAMPLES
    1:15 - 2:15, Richard R. Tarantine
    1. Irrevocable Life Insurance Trusts (ILITs)
    2. Charitable Remainder Trusts
    3. Qualified Domestic Trusts
    4. Qualified Personal Residence Trusts (QPRTs)
    5. Defective Trusts
    6. Education Trusts for Children and Grandchildren
    7. Generation Skipping Trusts
  5. GRANTOR TRUSTS
    2:15 - 3:15, Richard R. Tarantine
    1. Intentionally Defective Grantor Trusts (IDGTs)
    2. Drafting Tips and Samples
    3. Taxation Considerations - When to File the Return?
    4. Administrative Power
  6. ETHICAL CONSIDERATIONS
    3:30 - 4:30, Paul J. Gitnik
    1. Defining Who Your Client is from the Start
    2. Handling Clients with Diminishing Mental Capacity
    3. Lawyers Acting as Fiduciaries
    4. Estate Status Updates for Clients - Why it Pays Off and How to do it Efficiently
    5. Practicing before the IRS
    6. Getting Paid: Billable/Non-Billable Hour and Retainer Agreements
    7. Preventing Unauthorized Practice of Law by Legal Staff
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WA Seattle12/5/2017 9:00:00 AM<span class="course-type type-c" style="cursor:default;word-wrap:normal;display:inline-block;" onmouseover="showHoverInfo(this, 'ProductTypeDescription' ,'ILT')" onmouseout="clearHoverInfo()">C</span>1 day575.002039843
NY Rochester2/12/2018 9:00:00 AM<span class="course-type type-c" style="cursor:default;word-wrap:normal;display:inline-block;" onmouseover="showHoverInfo(this, 'ProductTypeDescription' ,'ILT')" onmouseout="clearHoverInfo()">C</span>1 day575.002039844
VA Fairfax2/26/2018 9:00:00 AM<span class="course-type type-c" style="cursor:default;word-wrap:normal;display:inline-block;" onmouseover="showHoverInfo(this, 'ProductTypeDescription' ,'ILT')" onmouseout="clearHoverInfo()">C</span>1 day575.002039847
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