Advise Your Clients on RLT Structures, Uses, and Tax Implications
Get a practical guide to estate planning's most effective and versatile tool - revocable living trusts. This course offers a fast-paced overview of the governing law, top RLT structures and key provisions, and their tax implications. Whether you're new to the practice or are just looking for a refresher, this essential course will give you the skills and knowledge you can put to use right away - register today!
- Compare traditional estate planning with revocable trust planning to offer your clients the best alternative in each specific circumstance.
- Protect the interests of both spouses - draft better marital deduction trusts.
- Review sample trust materials to avoid errors and save time drafting yours.
- Protect your professional reputation with legal ethics advice from experienced attorney faculty.
All times are shown in Eastern time
- Key Estate Transfer Laws
10:00 - 10:45, Tammy Koester Parks
- Current Tax Rules, Rates, and Exemptions
- Definition of "Estate"
- Federal Law
- Survey of State Laws
- Revocable Living Trusts vs. Will-Based Estate Plans
10:45 - 11:30, Paul M. Schmidt
- Estate Planning in General
- Key Elements of a Will
- Tools and Features of the RLT
- Medical and Incapacity Decisions
- Wealth Transfer Planning
- Beneficiary Protections
- Pros and Cons of Both Methods Applied to Specific Situations
- Ethics in Estate Planning
11:45 - 12:45, Scott M. Nelson
- Who is Your Client? Representation of Spouses
- Attorney Fees
- Voidable Transactions and Fraud Prevention
- Confidentiality Before and After Client's Death
- Common RLT Structures and Their Tax Implications
1:15 - 2:15, Tammy Koester Parks
- Marital Deduction Planning
- Joint vs. Separate RLTs
- Other Continuing Trust Structures
- Key RLT Provisions - Sample Trust Document Review
2:15 - 3:15, Paul M. Schmidt
- Marital Deduction Trusts in a Nutshell
3:30 - 4:15, Paul M. Schmidt
- When They're Used
- Common Variations and Clauses
- The Specifics of QTIPs
- Revocable Trust Funding
4:15 - 5:00, Scott M. Nelson
- Ownership and Beneficiary Designations
- POD and TOD Designations
- Retirement Plans and Annuities
- Real Estate
- Personal Property and Other Assets
This fundamental trusts course is designed for attorneys. It will also benefit accountants, tax advisers, trust officers, and paralegals.