Audio CD + Course Book

Frequently Used Trusts for Estate and Financial Planning

Audio CD + Course Book

Copyright Date:

December, 2017

Product ID#:

77822CDRA

Audio + Course Book

Credit Information

Continuing education credit
is not available on this program.


  • For additional questions regarding
  • continuing education credits,
  • please contact us at 866-240-1890
  • or credit@nbi-sems.com
From Event: Frequently Used Trusts for Estate and Financial Planning, held December 2017.

Program Description

Understand the underlying structures and functions of the key estate planning tools used to protect and transfer clients' assets. Whether you're a beginner or are in need of a refresher, this essential guide will leave you with useful and practical tips from the pros. Order today!

Course Content

  1. Trusts Overview: Main Rules, Terms, Parties, Goals Identified
  2. Revocable Trusts: A Versatile Tool for Every Occasion
  3. Irrevocable Trusts: Tax Savings and Asset Protection
  4. Special Needs Trusts: Funding Long-Term Care
  5. Ethics and Trusts

Continuing Education Credit

Continuing education credit is not available at this time.
For additional questions regarding continuing education credits please contact us at 866-240-1890 or credit@nbi-sems.com.

Agenda / Content Covered

  1. Trusts Overview: Main Rules, Terms, Parties, Goals Identified
    9:00 - 10:15, Harold W.T. Purnell II
    1. Key Terms and Concepts
    2. Laws Governing Trusts Practice
    3. Beneficiaries: Intermediary and Remaindermen
    4. Grantors' Powers
    5. The Role of the Trustee(s)
    6. Determining Your Client's Planning Needs
    7. Wills and Testamentary Trusts
    8. Common Types of Trusts
  2. Revocable Trusts: A Versatile Tool for Every Occasion
    10:30 - 11:45, Jennifer E. Smith
    1. How Revocable Trusts Work
    2. Types of Revocable Trusts and Their Specific Uses
    3. Trust Funding and Pour-Over Wills
    4. Grantor Powers and Limitations
    5. Tax Consequences
    6. Special Clauses/Provisions Reviewed
  3. Irrevocable Trusts: Tax Savings and Asset Protection
    12:45 - 2:00, Harold W.T. Purnell II
    1. Types of Irrevocable Trusts and Their Functions
    2. The Role, Duties and Powers of Independent Fiduciary
    3. Administration Costs Considerations
    4. Asset Protection Features of Irrevocable Trusts
    5. Basic Tax Strategies Behind the Use of Irrevocable Trusts
    6. Common Pitfalls to Avoid
    7. Irrevocable Life Insurance Trusts (ILITs)
  4. Special Needs Trusts: Funding Long-Term Care
    2:00 - 3:15, P. Kristen Bennett
    1. SNTs vs. ABLE Accounts
    2. First Party vs. Third Party
    3. Tax Consequences of SNTs
    4. Preserving Benefits Eligibility
    5. Allowable Expenses
  5. Ethics and Trusts
    3:30 - 4:30, P. Kristen Bennett
    1. Conflicts of Interest
    2. Attorney Fees
    3. Multiple Representation
    4. Fiduciary Liability
    5. Testamentary Capacity
    6. Confidentiality

P. KRISTEN BENNETT is an attorney in the Wilmington, Delaware office of Gawthrop & Greenwood, PC, where she is a member of the firm’s Estates and Trusts Department. She focuses her practice on estate planning and administration, and trust administration. Ms. Bennett also provides counsel on taxation and tax planning for businesses. She advises clients on estate planning options, including powers of attorney, advance health care directives, wills, revocable trusts, irrevocable life insurance trusts, qualified personal resident trust, grantor retained annuity trusts, grantor retained unitrusts, intentionally defective grantor trusts, installment sales to grantor trusts, asset protection, business succession, various charitable trusts, special needs and supplement needs trusts, and other estate planning instruments. Her work encompasses all aspects of wills and trusts, including the probate of wills, the marshaling and inventory of assets, and the administration of living and testamentary trusts. In addition, Ms. Bennett provides counsel on estate and trust administration, including probate, estate tax returns, income tax returns, post mortem tax planning, and other administration issues. From time to time, she represents clients in guardianship proceedings and petitions related to probate or trust administration in the Delaware Court of Chancery. She is a member of the Estates and Trust, and Taxation sections of the Delaware Bar Association; the Real Property Probate and Trust Law sections of the Pennsylvania Bar Association; the Sussex County Bar Association; and the American Bar Association. Ms. Bennett is on the Estate Planning Council of Delaware, Inc and the Board for Delaware CarePlan, Inc. She earned her B.A. degree from Furman University, her J.D. degree from the University of Richmond T.C. Williams School of Law, and her LL.M. degree in taxation from Georgetown University Law Center.

HAROLD W.T. PURNELL II is a partner in the law firm of Cooch and Taylor, maintaining offices in Georgetown and Wilmington, Delaware. He practices in the areas of business, estate, and tax planning matters. Mr. Purnell also handles probate and trust administration matters. He frequently lectures on estate planning issues. Mr. Purnell earned his B.A. degree from Gettysburg College, his J.D. degree from Delaware Law School, and his LL.M. degree from Villanova University Law School. He is a member of the Bar of the Supreme Courts of Delaware; and the Pennsylvania, Delaware State, and Sussex County bar associations.

JENNIFER E. SMITH is a director with Cooch and Taylor. Ms. Smith practices in the areas of estate planning, estate and trust administration, tax planning, wealth preservation, and fiduciary litigation. She advises clients on all aspects of estates and trusts, including wills, powers of attorney, probate and estate administration, and guardianships. In addition, Ms. Smith advises individuals, banks, and trust companies regarding trust modifications, terminations, mergers, decantings, nonjudicial settlements, and trust situs changes. She is a member of the Delaware State Bar Association, the Estate Planning Council of Delaware, the Delaware State Chamber of Commerce and the Society of Financial Service Professionals. Ms. Smith earned her B.A. degree from Emory University, her J.D. degree from the University of North Carolina at Chapel Hill School of Law, and her LL.M. degree in taxation from Villanova University School of Law.

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

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