Live Seminar

Estate Planning and Administration: The Complete Guide

Seminar

Date:

2 Day Seminar
Wednesday, September 26, 2018 -
Thursday, September 27, 2018

Time:

September 26 - 9:00 AM - 4:30 PM
September 27 - 9:00 AM - 4:30 PM

Product ID#:

79849ER

Location:

Illinois Business & Industry Services

1100 East Warrenville Road, Suite 150

Naperville, IL 60563

$575.00

$565 / Each Additional

Registration Includes Course Book

Credit Information

Continuing Legal Education

  • IL CLE - 12.00

CPE for Accountants

  • CPE for Accountants/NASBA - 14.00

Other

  • Financial Planners - 14.00
  • IACET - 1.20

Program Description

Find Out How Key Estate Planning Tools are Drafted and Implemented

Every client's estate is unique in its assets composition, family dynamics and future needs, but all are ruled by the same principles and are subject to the same tax and legal limitations. In this comprehensive legal guide, experienced attorney faculty will guide you through the process of estate planning and administration and show you how to select the best trust instruments and wield them skillfully to avoid mistakes at probate. They will also teach you how to properly administer the estate and tackle potential mistakes of improperly drafted documents, changed circumstances and newly arising conflicts. Become fully prepared to protect your client's legacies - register today!

  • Get an update on the current tax regime and other key regulations.
  • Get the case off on the right foot with a thorough and thoughtful client intake.
  • Compare key trust structures and their effect on the grantor and beneficiary tax future burdens.
  • Help clients plan for and fund long-term care.
  • Ensure confidentiality before and after the client's death.
  • Get useful checklists for key dates and tasks in estate administration.
  • Clarify what can be distributed through non-probate transfers and how to do it correctly.
  • Explore creditor issues in estate administration and get trouble-shooting tips from the pros.
  • Find out how much planning can still be done after the client's passing.
  • Discuss the duties and powers of fiduciaries, their limits and real-life application.
  • Get tips for closing the estate to prevent future disputes.

Who Should Attend

This basic-to-intermediate level seminar on estate planning and administration is designed for:

  • Attorneys
  • Accountants and CPAs
  • Paralegals
  • Tax Managers
  • Trust Officers
  • Certified Financial Planners
  • Investment Advisers

Course Content

DAY 1: ESTATE PLANNING AND TRUST BASICS

  1. Key Laws and Client Intake/Goal Setting
  2. Testamentary Documents - Drafting Do's and Don'ts
  3. Planning for Long-Term Care and End-of-Life Decisions
  4. Common Trust Structures and When They're Used
  5. Transfers During Life and Inter-Vivos Trusts
  6. Tax Consequences of Trusts

DAY 2: PROBATE AND ESTATE ADMINISTRATION

  1. Probate Process Overview
  2. Post-Mortem Tax Planning Options
  3. Marshalling Assets and Dealing with Creditors
  4. Legal Ethics in Estate Practice
  5. Trust Administration and Termination Basics
  6. Closing the Estate

Continuing Education Credit

Continuing Legal Education – CLE: 12.00 *

Financial Planners – Financial Planners: 14.00

International Association for Continuing Education Training – IACET: 1.20

National Association of State Boards of Accountancy – CPE for Accountants/NASBA: 14.00 *


* denotes specialty credits

Agenda / Content Covered

DAY 1: ESTATE PLANNING AND TRUST BASICS

  1. Key Laws and Client Intake/Goal Setting
    9:00 - 10:00, Michael J. Fleck
    1. Laws Governing the Estate Practice
    2. Current Federal Tax Regime
    3. Relevant State Taxes
    4. Reasons for Setting Up Trusts
    5. Client Meetings and Customizing Client Intake Forms
  2. Testamentary Documents - Drafting Do's and Don'ts
    10:15 - 11:15, Michael J. Fleck
    1. Wills vs. Trusts
    2. Testamentary Trust vs. Inter-Vivos Trust with a Pour-Over Will
    3. Designating Fiduciaries
    4. Recording Assets - Checklist
    5. Sample Will Review
  3. Planning for Long-Term Care and End-of-Life Decisions
    11:15 - 12:15, Martin J. Fogarty
    1. Financial Powers of Attorney
    2. Advance Medical Directives
    3. Planning for Retirement and Estate Planning
    4. Long-Term Care Placement Options
    5. Funding Long-Term Care
    6. Medicaid Planning and Estate Recovery
      1. The Lookback Rules and the Penalty Period
      2. Exempt vs. Non-Exempt Assets
      3. Outright Gifts vs. Gifts Into Trust
    7. Special Needs Planning
  4. Common Trust Structures and When They're Used
    1:15 - 2:15, Martin J. Fogarty
  5. Transfers During Life and Inter-Vivos Trusts
    2:30 - 3:30, Morris R. Saunders
    1. Beneficiary Designations
    2. Titling Assets
    3. Gifting Approaches
    4. Tax Effects of Asset Transfers During Life
    5. Top Creditor Protection Approaches
    6. Planning for Real Estate
    7. Types and Functions of Common Living Trusts
  6. Tax Consequences of Trusts
    3:30 - 4:30, Morris R. Saunders

DAY 2: PROBATE AND ESTATE ADMINISTRATION

  1. Probate Process Overview
    9:00 - 10:00, Daniel O. Hands
    1. Crucial Due Dates Timeline
    2. Community Property Law in Estate Administration
    3. Intestacy Rules
    4. Executor's Duties and Powers
    5. Administration Process Checklist
  2. Post-Mortem Tax Planning Options
    10:15 - 11:15, Daniel O. Hands
  3. Marshalling Assets and Dealing with Creditors
    11:15 - 12:15, Nykoel D. Kahn
    1. Dealing with Creditors: Notices, Apportionment
    2. Solving Liquidity Problems
    3. Claiming Portability Election
  4. Legal Ethics in Estate Practice
    1:15 - 2:15, Nykoel D. Kahn
    1. Who is Your Client?
    2. Testamentary Capacity
    3. Protecting Confidentiality
    4. Attorney Fees
  5. Trust Administration and Termination Basics
    2:30 - 3:30, Jeffrey Ramirez
  6. Closing the Estate
    3:30 - 4:30, Jeffrey Ramirez
    1. Final Accounting
    2. Final Tax Returns
    3. Final Beneficiary Distributions

MICHAEL J. FLECK concentrates his practice in the areas of estate planning and probate, real estate, corporate, employment matters, and civil litigation. Mr. Fleck is licensed to practice in Illinois state courts, the Federal District Court for the Northern District of Illinois, and the United States Court of Appeals for the Seventh Circuit. Prior to becoming an attorney, he was an environmental research chemist and consultant. Mr. Fleck is a member of the Illinois State Bar Association and the McHenry County Bar Association. He earned his B.S. degree from the University of Illinois - Urbana and his J.D. degree, with high honors, Order of the Coif, from Chicago-Kent College of Law.

MARTIN J. FOGARTY is the founder of Heartland Law Firm, where he practices in the areas of estate planning, guardianship, Medicaid, probate, special needs planning, business transitions, asset protection and VA benefits. Mr. Fogarty earned his B.A. degree from the University of Illinois at Urbana - Champaign and his J.D. degree from Loyola University Chicago School of Law.

DANIEL O. HANDS is the principal of Daniel O. Hands, P.C., a law firm in Oak Brook. Since 1975, he has devoted his practice primarily to estate planning, including probate, wills, trust law, estate and gift taxation, tax reduction, business transactions, and elder law. Mr. Hands is a member of the National Academy of Elder Law Attorneys, the Academy of Special Needs Planners, and WealthCounsel. He is a former member of the Board of Governors of the American Academy of Estate Planning Attorneys. Mr. Hands is a frequent lecturer on elder law, estate planning, wills and trusts, asset protection, and Medicaid. He also has lectured on long-term health care to the National Association of Health Underwriters at their annual convention. Mr. Hands earned his B.B.A. degree from Western Michigan University and his J.D. degree from Valparaiso University.

NYKOEL D. KAHN is an attorney at Froum Law Group, LLC, with offices in Evanston and Chicago, where she focuses her practice in estate and tax planning. She works on all aspects of probate litigation and estate and trust administration. Ms. Kahn is a member of the American Bar Association (ABA) and the Chicago Bar Association (CBA). She served as the co-chair for the CBA’s Estate Planning Committee for the 2017-2018 year, and is a rotating host for the CBA’s @theBar podcast. Ms. Kahn also sits on the Board of Directors for the Chicago Mosaic School. She earned her B.A. degree from Tulane University and her J.D. degree from Syracuse University School of Law.

JEFFREY RAMIREZ is an attorney at Heartland Law Firm, where he practices in the areas of trust, probate and guardianship administration. He is a member of the Chicago Bar Association and the Illinois State Bar Association. Mr. Ramirez earned his B.S. degree, cum laude, from DePaul University and his J.D. degree from DePaul University College of Law.

MORRIS R. SAUNDERS is a partner in the Chicago law firm of Levin & Ginsburg Ltd. He concentrates his practice in the areas of wealth management, asset protection, estate planning, business planning and taxation law, real estate, ownership and management succession, and deferred compensation. Mr. Saunders also deals extensively in business succession, and in the negotiation and preparation of commercial real estate and equipment leases and other business agreements. He is a member of the Chicago Estate Planning Council and the Chicago Bar Association. Mr. Sanders has spoken to various professional and community groups about estate planning, trusts, estates, business succession planning, and deferred compensation. He earned his B.A. degree from the University of Virginia, his J.D. degree from The John Marshall Law School, and his LL.M. degree from DePaul 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: 12.00 Includes - Ethics: 1.00
This program has been approved by the Illinois MCLE Board for 12.0 hours of CLE credit, which includes approval for 1.0 hour of legal ethics CLE credit by the Illinois Supreme Court Commission on Professionalism.


Financial Planners

N CF: 14.00
This program has been accepted by the Certified Financial Planner Board of Standards Inc. and qualifies for 14.0 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. Identify top 3 reasons clients seek estate planning. 2. Distinguish between a will and a living trust. 3. Recall at least 3 ways to fund long-term care. 4. Explain when to use a special needs trust. 5. Recall at least 3 methods of non-probate transfers to beneficiaries. 6. Analyze how transfers during life affect tax. 7. List all the key steps of probate process. 8. List at least 2 post-mortem tax planning techniques. 9. Recall how notice to creditors is to be handled. 10. Distinguish between ethical and unethical practices. 11. Explain how a trust is terminated. 12. Recall at least 3 key pieces of information that must be included in the final accounting.

International Association for Continuing Education Training

Credit Logo
N IACET: 1.20
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 1.20 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. Identify top 3 reasons clients seek estate planning. 2. Distinguish between a will and a living trust. 3. Recall at least 3 ways to fund long-term care. 4. Explain when to use a special needs trust. 5. Recall at least 3 methods of non-probate transfers to beneficiaries. 6. Analyze how transfers during life affect tax. 7. List all the key steps of probate process. 8. List at least 2 post-mortem tax planning techniques. 9. Recall how notice to creditors is to be handled. 10. Distinguish between ethical and unethical practices. 11. Explain how a trust is terminated. 12. Recall at least 3 key pieces of information that must be included in the final accounting.

National Association of State Boards of Accountancy

Credit Logo
N NAS: 14.00 Includes - Regulatory Ethics: 1.00, Specialized Knowledge: 5.00, Taxes: 8.00
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.nasbaregistry.org. This program is designed to qualify for 14.0 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 to Intermediate level program presented in a group live setting. Accountants should have a basic understanding of the process of estate planning and administration. Upon completion of this course, attendee will be able to: 1. Identify top 3 reasons clients seek estate planning. 2. Distinguish between a will and a living trust. 3. Recall at least 3 ways to fund long-term care. 4. Explain when to use a special needs trust. 5. Recall at least 3 methods of non-probate transfers to beneficiaries. 6. Analyze how transfers during life affect tax. 7. List all the key steps of probate process. 8. List at least 2 post-mortem tax planning techniques. 9. Recall how notice to creditors is to be handled. 10. Distinguish between ethical and unethical practices. 11. Explain how a trust is terminated. 12. Recall at least 3 key pieces of information that must be included in the final accounting. Field(s) of Study -- Specialized Knowledge; Regulatory Ethics; Taxes.

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How To Order

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