Drafting Revocable Living Trusts: Key Clauses and Practical Tips

Agenda / Content Covered

1. Choosing Between Revocable Living Trusts and Other Estate Planning Tools
   11:00 - 12:30, Sara Josey
   1. An overview of the basic estate planning options, an analysis of the strengths and weaknesses of each, general guidelines as to when to recommend each option to a client:
      1. Simple Wills
      2. Wills with Testamentary Trusts
      3. Beneficiary Designation Plans
      4. RLT
   2. What Works Better for Incapacity Planning?
   3. Maximizing Beneficiary Protection
   4. Drafting Tips and Key Clauses (with Sample Language)
2. Funding the Revocable Trust
   12:45 - 1:30, Stephanie Gordon
   1. An overview of the ways in which to fund an RLT, an analysis of the strengths and weaknesses of each, general guidelines as to when to recommend each option to a client:
      1. A Present Transfer of Ownership of an Asset
      2. Designating the Trust as the Beneficiary of an Asset
      3. Naming a Trust as the Beneficiary of an Estate
      4. In Community Property States, Using a Properly Drafted Marital Agreement to Fund a Trust
   2. Issues Concerning Tax-Deferred Retirement Accounts (e.g., IRAs, 401(k)s, 403(b)s)
   3. Issues to Address When Conveying Real Estate into the Trust
   4. Tips for Handling Personal Property and Other Assets
3. Complying with Key Estate Transfer Laws
   1:30 - 2:15, Stephanie Gordon
   1. Definition of "Estate"
   2. Federal Law
   3. Survey of State Laws
   4. Third Restatement of Trusts
   5. Uniform Principal and Income Act
4. Ethics in Estate Planning
   2:45 - 3:45, Katie Bindrup
   1. Who is Your Client? Representation of Spouses
   2. Attorney Fees
   3. Preventing Fraudulent Transfers
   4. Confidentiality Before and After Client's Death
5. Drafting Tips and Key Clauses (with Sample Language)
   3:45 - 4:45, Sara Josey
6. Common RLT Mistakes to Avoid
   5:00 - 6:00, Katie Bindrup

Accreditation Details:

Katie Bindrup is an attorney with the David Bindrup Law Firm PLLC, whose practice is focused in the areas of probate, trust administration, and guardianship. She has worked for a wide variety of legal practices, ranging from multi-billion dollar companies to law firms, including Sedgwick LLP and Snell & Wilmer. What makes Ms. Bindrup unique from most estate planning and probate attorneys, is her background in litigation and negotiation, which is invaluable when dealing with Nevada probates, trust administration, and trust litigation. She earned her B.A. degree from Brigham Young University; her paralegal certificate from Utah Valley University, where she graduated with honors; and her J.D. degree from Cooley Law School, where she was the class valedictory speaker.

Stephanie Gordon is the CEO and managing partner of The Loiyer Firm. She specializes in intellectual property, arbitration/mediation, wills and trusts, and real estate. She frequently counsels businesses from startups through IPO, and establishes companies in the fields of renewable energy, robotics/AI, and green pharmaceutical technologies. With these focuses, she has proffered strategic counsel in the development and growth of patent portfolios, copyright software protection, trademark brand dilution, electric vehicle charging stations, and strategic asset protection for high-net-worth individuals in the areas of trusts and real estate. She often conducts domestic and international arbitration and mediation as a medium to facilitate resolutions. She earned her B.A degree from University of North Carolina at Chapel Hill and her J.D. degree from St. Thomas University College of Law.

Sara Josey is a partner with Select Law Partners, PLLC. Ms. Josey practices exclusively in estate planning. She earned her B.A. degree, summa cum laude, from North Carolina State University; and her J.D. degree from Campbell University, Norman Adrian Wiggins School of Law. Ms. Josey is licensed to practice in North Carolina and Virginia.