Gain Concrete Guidance on Drafting Enforceable Estate Planning Documents
Don't spend years gathering precious bits of legal wisdom - our experienced faculty are here to share their time-tested methods for creating wills that are tailored to clients' unique needs and goals. Walk your client through the decision-making process; find out how to best structure each crucial provision; enhance your tax knowledge and more. This legal primer offers the tools and knowledge you need draft effective estate planning documents - register today!
- Get practical will drafting skills to speed up the process and give the testator's last wishes power.
- 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.
- Receive timely tax information and find out how to minimize your client's tax burdens.
- Phrase the fiduciary and beneficiary designations to leave no room for misinterpretation.
- Gain proven techniques for structuring spousal share provisions.
- Help your clients make the tough decisions regarding medical care and end-of-life issues.
All times are shown in Eastern time
- Client Intake and Choice of Planning Tools
10:00 - 10:45, Patrick S. Sylvester
- Assessing Client's Current and Projected Financial State
- Clarifying Client Goals, Family Dynamics and Future Medical Costs
- Jurisdiction Considerations and Multi-State Clients
- Tax Consequences of Various Estate Planning Options
- Will vs. Revocable Trust
10:45 - 11:30, Paul M. Schmidt
- Drafting Spousal Share Provisions
11:45 - 12:30, Gregory P. Turza
- Non-Tax Considerations First Marriage
- Family Trust
- Distribution Terms
- Marital Trust
- Non-Tax Considerations Second Marriage
- Family Trust
- Retirement Plan Assets
- Independent Trustee
- Restrict Discretion on Distributions
- Marital Trust
- Independent Trustee or Co-Trustee
- Control Over Principal, Not Income
- No Power to Appoint, Lifetime or Testamentary
- Beneficiary Designations
12:30 - 1:00, Paul M. Schmidt
- Current Federal Tax Regime and Tax Considerations
1:30 - 2:15, Gregory P. Turza
- Permanent 1st Time Since 2000
- DSUE Election on 706
- Requirement to File Within 9 Months
- Dangers of Relying on Portability
- Estate Taxes Were of Greater Concern Than Income Taxes Because of the Rates
- Cap Gains 20% for High Earners
- Focus Has Now Shifted to Minimizing Income Taxes
- Now Plan for Estate Tax Inclusion in Order to Get Step Up in Basis
- FET on Impacts .2% of the Population
- Give TP Power to Give B a GPOA of FT Assets
- How to Transfer to Spouse
- Fiduciary Duties and Powers
2:15 - 3:00, Paul M. Schmidt
- Designating Primary and Replacement Executors
- Will Provisions Granting Fiduciary Power and the Implications of Specific Language
- Power of Appointment
- Key Methods to Control Medical Treatment
3:15 - 4:00, Patrick S. Sylvester
- Advance Directives/Medical POAs
- End of Life Decisions
- Legal Ethics
4:00 - 5:00, Patrick S. Sylvester
- Mental Capacity of Clients
- Attorney Fees, Engagement Agreements, and Client Trust Accounts
- Attorney Fiduciary Duty
- Protecting Client Confidentiality
- Conflicts of Interest and Client Family Dynamics
This program will provide attorneys with the essentials for drafting wills. It may also benefit trust officers, accountants, tax preparers, and paralegals.