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Live Seminar

Trusts From A to Z

Seminar

Date:

Monday, June 26, 2017

Time:

8:30 AM - 4:40 PM

Product ID#:

75254ER

Location:

Hilton Garden Inn Springfield
3100 South Dirksen Parkway
Springfield, IL 62703

$349.00

$339 / Each Additional

$329 / New Professional

Registration Includes Course Book

Credit Information

Continuing Legal Education

  • IL CLE - 6.50
  • OH CLE - 6.75

CPE for Accountants

  • CPE for Accountants/NASBA - 8.00

Other

  • Financial Planners - 8.00
  • IACET - 0.70
  • PACE - 8.00

Program Description

Understand All the Wealth Planning Options Available to Your Clients

Planning your clients' financial future and legacy is diverse and complex, with a unique tool for every unique client situation. In this fast-paced comprehensive program, our faculty will guide you through the plethora of trust options and give you a straightforward, incisive analysis of when and how each can be used for maximum effect. Explore the goals, functions, administration hurdles, and tax implications of the top trusts in the practice. Choose the best tool for the job every time - register today!

  • Weigh all the pros and cons to select the best trust options for specific client situations.
  • Anticipate tax consequences of various trusts.
  • Use sample trust language our faculty provide to save drafting time and avoid mistakes.
  • Clarify the powers and duties of trustees in different trusts.
  • Compare living and testamentary trusts for straightforward estate planning.
  • Distinguish between accounting and taxable income and learn how trust income tax is reported.
  • Understand how ATRA has changed the practice of marital trusts and learn when they are still useful.
  • Review common ethical missteps that can cost you your license - and how to avoid them.

Who Should Attend

This basic level seminar is designed for the professionals involved in creating and administering trusts:

  • Attorneys
  • Accountants and CPAs
  • Trust Officers
  • Enrolled Agents
  • Tax Managers
  • Wealth Managers

Course Content

  1. What are Trusts? Main Trust Principles
  2. Simple Testamentary Trusts and Revocable Living Trusts
  3. Tax Reduction with Trusts
  4. Grantor Trusts
  5. Marital Trusts in a Nutshell
  6. Special Needs Trusts (SNTs)
  7. Other Trust Structures and Issues
  8. Legal Ethics

Continuing Education Credit


Continuing Legal Education

Credit Hrs State
CLE 6.50 -  IL*
CLE 6.75 -  OH*

Financial Planners – Financial Planners: 8.00

International Association for Continuing Education Training – IACET: 0.70

National Association of State Boards of Accountancy – CPE for Accountants: 8.00 *

Professional Achievement in Continuing Education – PACE: 8.00 *

* denotes specialty credits

Agenda / Content Covered

  1. What are Trusts? Main Trust Principles
    8:30 - 9:20, Written by Kevin Linder.
    Presented by Kevin Linder in Springfield and Maria N. Berger in Rockford.
    1. Trust Terms, Concepts and Definitions
    2. Key Parties in a Trust and Their Roles
    3. The Laws of Trust Creation and Administration (UTC, UPA, UPIA, etc.)
    4. Trust Revocability and its Implications
    5. Trust Funding Basics
    6. Creditor Rights in Regards to Trusts
    7. Does the Client Need a Trust?
  2. Simple Testamentary Trusts and Revocable Living Trusts
    9:20 - 10:10, Written by Kevin Linder.
    Presented by Kevin Linder in Springfield and Maria N. Berger in Rockford.
    1. When are Testamentary Trusts Used?
    2. Living vs. Testamentary Trusts for Tax Purposes
    3. Trust Funding Mistakes and Consequences
    4. Top Trust Administration Issues
    5. Sample Trust Language
  3. Tax Reduction with Trusts
    10:25 - 11:30, Written by Robert C. Torbert.
    Presented by Thomas G. Hamill in Springfield and Robert C. Torbert in Rockford.
    1. Current State and Federal Tax Regime
    2. Taxation of Trusts: Transfer and Income
    3. Accounting vs. Taxable Income
    4. Tax Consequences of Distributions
    5. 3.8% NIIT Surtax
    6. Tax Implications of a Trust Becoming Irrevocable
    7. Accumulation Distribution for Some Complex Trusts
    8. The 2% Floor on Miscellaneous Itemized Deductions
    9. Material Participation by Trusts - Recent IRS Changes
    10. Tax Consequences of Trusts in Estate Administration
  4. Grantor Trusts
    12:30 - 1:20, Written by Maria N. Berger.
    Presented by Thomas G. Hamill in Springfield and Maria N. Berger in Rockford.
    1. Types of Grantor Trusts and When They are Used
    2. Intentionally Defective Grantor Trusts
    3. Tax Planning, Requirements and Consequences
    4. Trustee Powers and Duties
    5. Grantor Trust Status and Reporting
    6. Exceptions to the Rules
    7. Sample Trust Language
  5. Marital Trusts in a Nutshell
    1:20 - 2:00, Written by Kevin Linder.
    Presented by Kevin Linder in Springfield and Nykoel D. Kahn in Rockford.
    1. When are Marital Trusts Used?
    2. Old AB/Credit Shelter Trusts After ATRA
    3. Tax Planning, Requirements and Consequences
    4. Trustee Powers, Duties and Challenges
    5. Underfunded Trusts After First Death
    6. QDOTs for Noncitizen Spouses
    7. Exceptions to the Rules
    8. Handling Dysfunctional Client Families
    9. Sample Trust Language
  6. Special Needs Trusts (SNTs)
    2:15 - 3:00, Written by Kenneth Kugelberg.
    Presented by Kaye DeSelms Dent in Springfield and Kenneth Kugelberg in Rockford.
    1. When are SNTs Used? (SNTs vs. ABLE Act Accounts)
    2. Types of SNTs
    3. Tax Consequences of SNTs
    4. Preserving Benefits Eligibility
    5. Trustee Powers and Duties (What Can the Distributions be Used for?)
    6. Sample Trust Language
  7. Other Trust Structures and Issues
    3:00 - 3:40, Written by Michael H. Erde.
    Presented by David M. Frisse in Springfield and Michael H. Erde in Rockford.
    1. Minors' Trusts
    2. IRA Trusts
    3. Pet Trusts
    4. Medicaid Trusts
    5. Asset Protection Trusts
    6. Irrevocable Life Insurance Trusts
    7. Incomplete Non-Grantor Trusts
    8. Gun Trusts
    9. Trust Decanting, Modification and Dissolution
    10. Smaller Estate Trusts
    11. Constructive Trusts
    12. Charitable Trusts
  8. Legal Ethics
    3:40 - 4:40, Written by Maria N. Berger.
    Presented by Kaye DeSelms Dent in Springfield and Maria N. Berger in Rockford.
    1. Who is Your Client? The Most Important Question in Trusts Practice
    2. Top Legal Malpractice Risks
    3. Testator Capacity Issues
    4. Dealing with Trust Beneficiaries
    5. Protecting Confidentiality
    6. Preventing Fiduciary Misconduct
June 26 - Springfield

KAYE DESELMS DENT is an attorney with Frisse & Brewster Law Offices, where she provides an array of estate planning services, focusing on nursing home planning and special needs planning. As a member of WealthCounsel and IL NAELA, Ms. Dent has an array of resources available for her clients' planning needs. She is a member of her local bar associations and serves the Board of Directors for Heartland Human Services in Effingham, Illinois. She attended the University of Illinois and Hofstra University School of Law.

DAVID M. FRISSE is the principal owner and founder of Frisse & Brewster Law Offices. His firm focuses primarily on estate planning; administration; elder law; and farm and business exit, succession and other planning. Mr. Frisse's firm uses a unique combination of teaching and listening to help families and businesses protect whatever is important to them. He is a member of the National Network of Estate Planning Attorneys, WealthCounsel, Illinois State and Indiana State bar associations, and a founder of the Estate Planning Council of Central Illinois, Inc. He is a contributing author of two books, Love, Money and Control: Reinventing Estate Planning and The Complete Guide to Estate & Financial Planning in Turbulent Times. Mr. Frisse is on the Board of Directors of the Lake Land College Foundation, the Paris Community Hospital Foundation, and he is a trustee of the Paris YMCA Endowment Trust. His affiliations, activities, continuing education and leadership roles both in his profession and within his community are considerable. Mr. Frisse is a graduate of Notre Dame University and the St. Louis University School of Law.

THOMAS G. HAMILL is an attorney with Harrison & Held, LLP. He counsels clients on estate planning, probate and trust administration, gifting strategies, and business succession planning. Mr. Hamill's practice focuses on the implementation of estate plans to address family needs and minimize estate taxes; the administration of wills and trusts, including the preparation of federal and state estate tax returns; and the succession of family-owned businesses. He is admitted to practice in the Illinois Supreme Court, and is a member of the Illinois State Bar Association and the Sangamon Valley Estate Planning Council. He earned his B.A. degree from the University of Illinois at Urbana-Champaign and his J.D. degree, cum laude, from the University of Illinois College of Law.

KEVIN LINDER is the owner of Linder Law Office, PC, in Springfield, Illinois. He practices in the areas of family law, bankruptcy and Social Security (both ERISA and private disability, and Social Security law). Mr. Linder is a chartered financial consultant and a certified financial planner. He has lectured to various organizations on his areas of expertise. Mr. Linder is a member of the Illinois State, American and Sangamon County bar associations; the National Association of Consumer Bankruptcy Attorneys; and the National Organization of Social Security Claimants and Representatives. He earned his B.A. degree from the University of Illinois at Springfield and his J.D. degree from the University of Missouri at Columbia.

June 29 - Rockford

MARIA N. BERGER started her own practice in 2002, with a focus on real estate, estate planning/probate, business law, and family law. She is active in the Illinois State Bar Association, and is serving as the associate editor for the Illinois Bar Journal. Ms. Berger is a member of the Ogle and DuPage County bar associations. She is a trained mediator, approved by the Ogle County Courts for child custody and visitation mediations. Ms. Berger mediates other family, business, personal injury and civil lawsuits as well. During law school, she worked for Sidley Austin, LLP, in Chicago. Ms. Berger gained experience in corporate litigation, intellectual property, and other areas of law. She earned her J.D. degree from the University of Illinois College of Law, where she ranked third in her class, and was a member of the Law Review. Ms. Berger graduated Order of the Coif and summa cum laude.

MICHAEL H. ERDE is the principal in the North Side Chicago law firm of Michael H. Erde, P.C., where he focuses his practice on estate planning, elder law, probate and corporate law. He is certified as an elder law attorney by the National Elder Law Foundation. Mr. Erde is a member of the Greater North Shore Estate Planning and Financial Planners Council and the National Academy of Elder Law Attorneys. He has been an instructor/lecturer and given seminars for many years on estates, trusts, elder law, asset protection, Medicaid and special needs. Mr. Erde was an adjunct professor at The John Marshall Law School, where he taught classes on elder law. He has written numerous articles on wills, trusts, and elder law issues. Mr. Erde earned his B.S.B.A. degree from Washington University, his J.D. degree from the University of Illinois, and has graduate credits in taxation from The John Marshall Law School. He founded the Asset Protection Committee of the Chicago Bar Association, and is a member of the Probate Committee of the local bar.

NYKOEL D. KAHN is an attorney with the Froum Law Group, LLC. She works with clients to develop and implement estate plans that address their tax and business needs, as well as meeting their personal and family goals. Ms. Kahn also works on all aspects of probate litigation and estate administration. She earned her B.A. degree from Tulane University, and her J.D. degree from Syracuse University School of Law. Ms. Kahn is a member of the Chicago Bar Association and the Illinois State Bar Association.

KENNETH KUGELBERG is an attorney with Generation Law, LTD, where he focuses his practice on estate planning and administration, GALs, guardianships, Medicaid applications, and wills and trusts. He has more than 20 years of public service, both inside and outside the courtroom. Mr. Kugelberg formerly worked for the DuPage County State's Attorney's Office. He earned his B.B.A. degree, summa cum laude, from American InterContinental University; and his J.D. degree from The John Marshall Law School.

ROBERT C. TORBERT is an attorney with Howard & Hardyman, LLP, where he practices in the areas of estate planning, corporate transactions, tax issues, commercial and residential real estate and litigation. He uses his background in tax to develop and implement both simple and complex estate plans and corporate structures with up-to-date tax and succession planning. Mr. Torbert is a member of the Illinois State Bar Association and the State Bar of Wisconsin. He earned his B.A. degree, cum laude, from Augustana College; his J.D. degree from the University of Illinois College of Law; and his Masters of Science degree in taxation from Northern Illinois University.

Please refer to Continuing Education Credit FAQ for general information about seeking credit for your participation in one of our continuing education programs.

Additionally, our team of credit specialists are here to answer your specific credit-related questions weekdays 7am - 5pm Central:

Phone: 866-240-1890

Email: credit@nbi-sems.com


Accreditation Details

Continuing Legal Education

IL CLE: 6.50 Including - Ethics: 1.00
This program has been approved by the Illinois MCLE Board for 6.5 hours of CLE credit, which includes approval for 1.0 hour of legal ethics CLE credit by the Illinois Supreme Court Commission on Professionalism.


OH CLE: 6.75 Including - Ethics: 1.00
This course has been approved by the Ohio Supreme Court Commission on Continuing Legal Education for 6.75 CLE credit hours, including 1.0 hour of attorney professional conduct instruction.



Financial Planners

N CF: 8.00
This program has been accepted by the Certified Financial Planner Board of Standards Inc. and qualifies for 8.0 hours of CE credit for CFP® Certificants. The Certified Financial Planner Board of Standards Inc. owns the certification marks CFP®, CERTIFIED FINANCIAL PLANNER™ and CFP® (with plaque design) and CFP® (with flame design) in the US, which it awards to individuals who successfully complete initial and ongoing certification requirements.

Upon completion of this course, attendee will be able to: 1. Recall key definitions and abbreviations used in trust practice. 2. Explain the difference between living and testamentary trusts. 3. Recall the current estate/gift/GST tax exemption levels. 4. Explain when grantor trusts are used. 5. Provide a definition of a marital trust. 6. Restate when a beneficiary qualifies for a special needs trust. 7. List at least two more trusts and explain when they're used. 8. Distinguish between ethical and unethical practices.


International Association for Continuing Education Training

N IACET: 0.70
NBI, Inc. is accredited by the International Association for Continuing Education and Training (IACET) and is authorized to issue the IACET CEU. NBI, Inc. is authorized by IACET to offer 0.7 CEUs for this program. At the end of the program, participants must complete a self-assessment in order to receive credit. 100% attendance is required. (Provider #1004558)

Upon completion of this course, attendee will be able to: 1. Recall key definitions and abbreviations used in trust practice. 2. Explain the difference between living and testamentary trusts. 3. Recall the current estate/gift/GST tax exemption levels. 4. Explain when grantor trusts are used. 5. Provide a definition of a marital trust. 6. Restate when a beneficiary qualifies for a special needs trust. 7. List at least two more trusts and explain when they're used. 8. Distinguish between ethical and unethical practices.


National Association of State Boards of Accountancy

N NAS: 8.00 Including - Administrative Practice: 3.00, Regulatory Ethics: 1.00, Taxes: 4.00
NBI, Inc. is registered with the National Association of State Boards of Accountancy (NASBA) as a sponsor of continuing professional education on the National Registry of CPE Sponsors. State boards of accountancy have final authority on the acceptance of individual courses for CPE credit. Complaints regarding registered sponsors may be submitted to the National Registry of CPE Sponsors through its website: www.learningmarket.org. This program is designed to qualify for 8.0 hours (based on 50 minute credit hour) of continuing professional education credit for accountants. For more information regarding administrative policies such as complaint and refund, please contact our offices at (800) 930-6182.

This is a basic level program presented in a group live setting. Accountants should have a basic understanding of wealth planning options. Upon completion of this course, attendee will be able to: 1. Recall key definitions and abbreviations used in trust practice. 2. Explain the difference between living and testamentary trusts. 3. Recall the current estate/gift/GST tax exemption levels. 4. Explain when grantor trusts are used. 5. Provide a definition of a marital trust. 6. Restate when a beneficiary qualifies for a special needs trust. 7. Recall the main function of a GST trust. 8. Explain the differences between charitable lead and charitable remainder trusts. 9. List at least two more trusts and explain when they’re used. 10. Distinguish between ethical and unethical practices. No advanced preparation or prerequisites are required. Field(s) of Study -- Administrative Practice; Taxation; Regulatory Ethics.


Professional Achievement in Continuing Education

N PACE: 8.00 Including - Chartered Financial Consultant: 8.00
This seminar qualifies for 8.0 PACE (Professional Achievement in Continuing Education) credit hours for ChFC.


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