Audio CD + Course Book

Estate Planning: A How-To Guide

Audio CD + Course Book

Copyright Date:

February, 2018

Product ID#:

78258CDRA

Audio + Course Book

Credit Information

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From Event: Estate Planning: A How-To Guide, held February 2018.

Program Description

Do you have all the knowledge and skills you need to draft tailored testamentary documents and minimize tax burdens for each of your clients? This comprehensive course will become your ultimate guide to estate planning. From client intake through tax planning and business succession strategies, you will receive tips, sample forms and answers to your most pressing questions to help you excel. Get the latest knowledge on effective will and trust planning techniques - order today!

Course Content

DAY 1

  1. Client Screening and Intake
  2. Key Elements of Effective Wills
  3. Basic Tax Planning
  4. Documenting Long-Term Care, Incapacity and End-of-Life Decisions
  5. Business Succession Planning

DAY 2

  1. Revocable Living Trusts
  2. Trusts 101
  3. Grantor Trusts
  4. Trusts Used for Tax Reduction - Drafting Tips and Samples
  5. Ethical Considerations

Continuing Education Credit

Continuing Legal Education

Credit Hrs State Credit Approval Expiration
CLE 14.50 FL * 08/12/2019
CLE 14.40 NJ * 11/15/2018
CLE 14.00 NY * 02/12/2020
CLE 12.00 PA * 02/12/2020

* denotes specialty credits

Agenda / Content Covered

DAY 1

  1. CLIENT SCREENING AND INTAKE
    9:00 - 10:15, Richard H. Murphy
    1. Clarifying Goals and Forecasting Needs
    2. Assessing Current and Future Assets and Debts
    3. Dealing with Family Dynamics: Past, Present and Future
    4. What to Look for in Reviewing Existing Estate Plans
    5. Sample Info Gathering Forms and Checklists
    6. Determining Your Overall Estate Plan Strategy
      1. for an Estate not Subject to Estate Tax
      2. for an Estate Potentially Subject to Estate Tax
      3. for an Estate Subject to Estate Tax
  2. KEY ELEMENTS OF EFFECTIVE WILLS
    10:30 - 11:45, Richard H. Murphy
    1. Establishing Statutory Framework
    2. Types of Wills
    3. Testator's Competency - Verifying and Documenting
    4. Beneficiary Designations and Distributions in Retirement Plans and Life Insurance
    5. Titling Assets
    6. Sample Will Provisions
    7. Updating Will Documents
  3. BASIC TAX PLANNING
    12:45 - 2:00, David D. Fenster
    1. Estate Tax Update
    2. Step-up Basis of Various Assets
    3. Gift Tax and Exclusions
    4. Generation-Skipping Transfer Tax
    5. Planning for the Final Income Tax Return
    6. Trust Taxation Basics
    7. Disclaimer Trusts
    8. Crummey Powers and the IRS
    9. Typical Creditors and How to Deal with Them
    10. Simple Tips for Minimizing Tax Burden
    11. Tax Treatment of Trusts
  4. DOCUMENTING LONG-TERM CARE, INCAPACITY AND END-OF-LIFE DECISIONS
    2:15 - 3:30, David D. Fenster
    1. Medicaid Planning Overview
    2. Long-Term Care Options and Planning in a Nutshell
    3. Special Needs Trusts
    4. Advance Medical Directives
    5. Powers of Attorney
    6. DNR Orders and Organ Donation Considerations
  5. BUSINESS SUCCESSION PLANNING
    3:30 - 4:30, John R. Bedosky
    1. When the Business is Transferred to the Beneficiary in Full
    2. Buy-Sell Agreement Basics
    3. Business Structure Conversion
    4. Minimizing Tax Burden in Transferring Ownership
    5. Business Valuation and Sale

DAY 2

  1. REVOCABLE LIVING TRUSTS
    9:00 - 10:15, Kenneth A. Grossberg
    1. Traditional Estate Planning vs. Revocable Trust Planning
    2. Credit Shelter Trusts
    3. Marital Deduction Trusts
    4. Qualified Terminable Interest Trusts (QTIPs)
    5. Drafting Tips and Samples
    6. Common Mistakes to Avoid
  2. TRUSTS 101
    10:30 - 11:45, Kenneth F. Hunt
    1. Types, Goals and Functions of Trusts
    2. Major Laws Governing Trust Creation and Administration
    3. Who are the Main Parties? Their Duties and Responsibilities to a Trust
    4. Revocable vs. Irrevocable
    5. Choosing Trust Situs
    6. Trust Funding Basics
    7. Who is the Fiduciary?
  3. GRANTOR TRUSTS
    12:45 - 2:00, Kenneth A. Grossberg
    1. Intentionally Defective Grantor Trusts (IDGTs)
    2. Drafting Tips and Samples
    3. Taxation Considerations - When to File the Return?
    4. Administrative Power
  4. TRUSTS USED FOR TAX REDUCTION - DRAFTING TIPS AND SAMPLES
    2:15 - 3:30, Kenneth F. Hunt
    1. Irrevocable Life Insurance Trusts (ILITs)
    2. Charitable Remainder Trusts
    3. Qualified Domestic Trusts
    4. Qualified Personal Residence Trusts (QPRTs)
    5. Defective Trusts
    6. Education Trusts for Children and Grandchildren
    7. Generation Skipping Trusts
  5. ETHICAL CONSIDERATIONS
    3:30 - 4:30, Kenneth A. Grossberg
    1. Defining Who Your Client is from the Start
    2. Handling Clients with Diminishing Mental Capacity
    3. Lawyers Acting as Fiduciaries
    4. Estate Status Updates for Clients - Why it Pays Off and How to do it Efficiently
    5. Practicing before the IRS
    6. Getting Paid: Billable/Non-Billable Hour and Retainer Agreements
    7. Preventing Unauthorized Practice of Law by Legal Staff

JOHN R. BEDOSKY is of counsel to Hinman Howard & Kattell, LLP, active in its estate planning practice group, and is a senior consultant with The Lustig Group, LLC. He has extensive experience representing individual and business clients in a variety of estate planning matters, including business succession planning; family wealth accumulation, preservation and transfer planning; estate and trust administration; fiduciary litigation; and related taxation matters. Mr. Bedosky is a frequent speaker on topics involving estate planning and estate administration. He has presented at continuing legal education seminars for the New York State Bar Association and the Minnesota State Continuing Legal Education Program. Mr. Bedosky has presented to the Minnesota Society of Certified Public Accountants (CPAs), the McGladrey & Pullen National Tax Conference, the Lutheran Brotherhood Annual Conference, and the Minnesota Planned Giving Conference. He was a speaker for a seminar series sponsored by the ATG Trust Company on planning and drafting for estate planners. Mr. Bedosky has also been a national seminar leader for Foxmoor Continuing Education and delivers full day workshops on trust and estate income taxation. He has been an adjunct professor of law at the University of Minnesota Law School, the University of St. Thomas, and William Mitchell College of Law; an adjunct business taxation professor at the University of Minnesota’s Carlson School of Management; and a visiting professor of law at William Mitchell College of Law.

DAVID D. FENSTER is a partner in the law firm of Fenster, Lewis & Good, LLC, practicing exclusively in the areas of estate planning, business planning, estate and trust administration, and elder law. He has lectured on estate planning and estate administration topics to both professional groups and the general public. Mr. Fenster earned his B.S. and J.D. degrees, cum laude, from the State University of New York at Buffalo.

KENNETH A. GROSSBERG is an attorney Phillips Lytle LLP, where he concentrates his practice in the area of estate planning, advising clients on estate tax matters, wills, trusts, guardianships, health care proxies, living wills and powers of attorney. He has extensive knowledge of the complex tax implications involved in estate matters and business transactions, and has significant experience representing clients before the Internal Revenue Service on a variety of international tax matters. Mr. Grossberg also advises on Medicaid planning. He earned his B.A. degree from the University of Pittsburgh; his J.D. degree, cum laude, from the State University of New York at Buffalo Law School; and his LL.M. degree from New York University School of Law.

KENNETH F. HUNT is an attorney in the private clients group of Nixon Peabody LLP. He represents settlers, beneficiaries, families, and corporate and individual trustees and executors with respect to estate planning and estate and trust administration matters. Mr. Hunt designs and implements plans for individuals and families with diverse estate planning objectives, including drafting wills, revocable trusts, charitable trusts, irrevocable gift trusts, and irrevocable life insurance trusts. He is admitted to practice in Delaware, Massachusetts, and New York. Mr. Hunt earned his B.A. degree, magna cum laude, from Providence College; his J.D. degree, magna cum laude, from Syracuse University School of Law; and his LL.M. degree in taxation from New York University School of Law.

RICHARD H. MURPHY is a principal in the Williamsville, New York law firm of Sheffer, Murphy & White, where his primary areas of practice are estate planning, estate and trust administration, wills and trusts, residential real estate, and corporate law. He frequently lectures to various professional groups on probate and estate planning topics. Mr. Murphy is a member of the New York State and Erie County bar associations. He earned his B.A. degree from Wheaton College and his J.D. degree from the State University of New York at Buffalo.

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

FL CLE: 14.50 Credit Approval Exp
08/12/2019
Includes - Elder Law: 14.50, Ethics: 1.00, Tax: 14.50, Wills, Trusts and Estates: 14.50
Approved by The Florida Bar, this program may qualify for up to 14.5 general hours of CLER self-study credit including 1.0 hour of self-study ethics credit. Certification: 14.5 hours - Elder Law; 14.5 hours - Tax; 14.5 hours - Wills, Trusts and Estates.


NJ CLE: 14.40 Credit Approval Exp
11/15/2018
Includes - Ethics: 1.20
This program has been approved by the Board on Continuing Legal Education of the Supreme Court of New Jersey for 14.4 hours of alternative format CLE credit. Of these, 1.2 qualify as hours of alternative learning format credit for ethics/professionalism. No more than 12.0 hours of alternative learning format CLE credit may be earned during a reporting period.


NY CLE: 14.00 Credit Approval Exp
02/12/2020
Includes - Areas of Professional Practice: 13.00, Ethics: 1.00
This nontraditional format course has been approved in accordance with the requirements of the New York State Continuing Legal Education Board for up to 14.0 credit hours. 13.0 hours can be applied to the Areas of Professional Practice requirement and is approved for newly admitted and experienced attorneys. 1.0 hour can be applied toward the ethics and professionalism requirement and is approved for experienced attorneys.


PA CLE: 12.00 Credit Approval Exp
02/12/2020
Includes - Ethics: 1.00
This program has been approved by the Pennsylvania Continuing Legal Education Board. This program may qualify for up to 12.0 hours of distance learning credit, including 11.0 hours of substantive law, practice and procedure CLE credit and 1.0 hour of ethics, professionalism or substance abuse distance learning CLE credit. No more than 6.0 hours of distance learning CLE credit may be earned during a reporting period.


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Call: 800.930.6182
Fax: 715.835.1405
Mail: NBI
P.O. Box 3067
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