Trusts From A to Z

Agenda / Content Covered

All times are shown in Eastern time

1. What are Trusts? Main Trust Principles
   8:30 - 9:15, Robert E. Bollengier
   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
   9:15 - 10:00, Robert E. Bollengier
   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
   10:15 - 11:00, Matthew J. Leonard
   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. Tax Implications of a Trust Becoming Irrevocable
   6. Accumulation Distribution for Some Complex Trusts
   7. Material Participation by Trusts
   8. Tax Consequences of Trusts in Estate Administration
4. Grantor Trusts
   11:00 - 11:45, Matthew J. Leonard
   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
   12:15 - 1:15, Eric D. Correira
   1. When are Marital Trusts Used?
   2. Old AB/Credit Shelter Trusts After ATRA and Tax Cuts and Jobs Act
   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. Other Trust Structures and Issues
   1:15 - 2:15, Eric D. Correira
   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. Generation Skipping Trusts
   13. Charitable Trusts
7. Special Needs Trusts (SNTs)
   2:30 - 3:10, Brittanee N. Donley
   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
8. Legal Ethics
   3:10 - 4:10, Brittanee N. Donley
   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

ROBERT E. BOLLENGIER is a sole practitioner with Robert E. Bollengier, Attorney/CPA, in Warwick, Rhode Island. His practice areas include federal and state taxation, probate, estate planning, wills, trusts, and corporate and business law. Mr. Bollengier has been a visiting instructor for Bryant University and Providence College. He earned his B.S. degree, magna cum laude, from Boston College; simultaneously earned his J.D. degree with his M.B.A. degree, highest honors, from St. Louis University; and his LL.M degree, cum laude, from Boston University. In addition, Mr. Bollengier earned a certificate of advanced graduate studies in estate planning from Bryant University and is currently working towards his CFP®, ChFC and CLU designations. He is a member of the Rhode Island and American bar associations, as well as the Rhode Island Society of Certified Public Accountants.

ERIC D. CORREIRA is the principal at Correira Law, Inc., where he concentrates his law practice in the areas of estate planning, elder law, business planning, trust, estate, and tax litigation. He has been named a Rising Star by Super Lawyers. Mr. Correira has published articles on a variety of estate planning topics, and is a lecturer on estate planning and asset protection for National Business Institute. He is the current editor in chief of the Rhode Island Bar Journal, and is a member of the National Academy of Elder Law Attorneys (NAELA). He is a member of The Florida Bar, Collier County Bar Association, and National Academy of Elder Law Attorneys (NAELA). Mr. Correira has appeared and successfully argued several state appellate court cases. These cases have included the proper interpretation of ambiguous provisions in estate planning documents and disqualifying transfers of assets under the Medicaid regulations. He is admitted to practice in Florida, Massachusetts, Rhode Island, the U.S. District Court, and the U.S. Tax Court. Mr. Correira earned his B.A. degree, with honors, from The George Washington University, and his J.D. degree and LL.M. degrees from Villanova University School of Law. He also completed Villanova's Estate Planning Certificate program.

BRITTANEE N. DONLEY is a partner with Kiernan Plunkett & Redihan where her practice focuses on insurance defense litigation, creditor’s rights litigation, civil litigation, and asset protection and estate planning. Prior to joining the firm, Ms. Donley served as a pro se staff attorney intern with the United States District Court for the District of Rhode Island, and also worked as a research assistant to the Dean of Roger Williams University School of Law. She received her B.A. degree, cum laude, from the University of South Florida and her J.D. degree, cum laude, from the Roger Williams School of Law. Ms. Donley became a certified mediator through the Roger Williams Mediation Program. She is admitted to practice in Rhode Island; U.S. District Court, District of Rhode Island; Massachusetts; and Connecticut.

MATTHEW J. LEONARD is counsel at Salter McGowan Sylvia & Leonard, Inc., where he has devoted his practice to handling the legal needs of individuals and their business interests through all stages of life, from basic to sophisticated estate planning, elder law, Medicaid planning, probate, trust and estate administration, real estate, business transactions, business creation, and related litigation. Mr. Leonard appears in probate and superior courts representing executors, administrators, guardians, trustees and beneficiaries. He appears before the Rhode Island Department of Human Services in support of client Medicaid applications. He is a frequent author and lecturer on various topics such as advanced estate planning, Medicaid planning, buying or selling a business and the probate process. Mr. Leonard earned his B.S. degree from Providence College and his J.D. degree from Roger Williams University School of Law. He is admitted to practice in Rhode Island, Massachusetts and Florida, as well as the federal courts of Rhode Island, Massachusetts and Connecticut. He is a member of the Rhode Island and Massachusetts bar associations, and The Florida Bar.