Live Seminar

Frequently Used Trusts for Estate and Financial Planning

Seminar

Date:

Tuesday, February 20, 2018

Time:

8:30 AM - 4:40 PM

Product ID#:

78220ER

Location:

Holiday Inn Hotel & Suites Springfield - I-44

2720 North Glenstone Ave

Springfield, MO 65803

$349.00

$339 / Each Additional

$329 / New Professional

Registration Includes Course Book

Credit Information

Continuing Legal Education

  • IL CLE - 6.50
  • MO CLE - 8.00

CPE for Accountants

  • CPE for Accountants/NASBA - 8.00

Other

  • IACET - 0.70

Program Description

Understand the Most Common Trust Structures, Their Various Uses and Tax Effects

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 course will leave you with useful and practical tips from the pros. Register today!

  • Clarify the tax uses and consequences of the various trust structures.
  • Distinguish between testamentary and revocable trusts.
  • Explore the most tax-efficient tools for specific client circumstances.
  • Determine when an irrevocable trust is a better option.
  • Understand the varied powers and duties of the trustee depending on the trust structure.
  • Learn how special needs trusts are used to provide for daily expenses without risking benefits eligibility.
  • Protect your practice and professional reputation with a tailored ethics guide.

Who Should Attend

This basic level seminar is designed for:

  • Attorneys
  • Accountants and CPAs
  • Trust Officers
  • Tax Professionals
  • Paralegals

Course Content

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

Continuing Education Credit

Continuing Legal Education

Credit Hrs State
CLE 6.50 -  IL*
CLE 8.00 -  MO*

International Association for Continuing Education Training – IACET: 0.70

National Association of State Boards of Accountancy – CPE for Accountants/NASBA: 8.00 *


* denotes specialty credits

Agenda / Content Covered

  1. Trusts Overview: Main Rules, Terms, Parties, Goals Identified
    8:30 - 9:45, Mary Lou Martin
    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. Common Types of Trusts
  2. Testamentary Trusts: What They are and How They Work
    10:00 - 11:00, Courtney L. Fletcher
    1. When are They Used?
    2. How Distributions are Arranged
    3. The Burden on the Trustee(s)
    4. One Trust vs. Separate Trusts for Each Beneficiary
    5. Minors as Beneficiaries: Special Considerations
    6. Incentive Clauses: Pros and Cons
    7. Tax Considerations
    8. Sample Trust Review
  3. Revocable Trusts: A Versatile Tool for Every Occasion
    11:00 - 12:15, Jennifer K. Huckfeldt
    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
  4. Irrevocable Trusts: Tax Savings and Asset Protection
    1:15 - 2:15, Jennifer K. Huckfeldt
    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)
  5. Special Needs Trusts: Funding Long-Term Care
    2:30 - 3:40, Sativa Boatman-Sloan
    1. SNTs vs. ABLE Accounts
    2. First Party vs. Third Party
    3. Tax Consequences of SNTs
    4. Preserving Benefits Eligibility
    5. Allowable Expenses
  6. Ethics and Trusts
    3:40 - 4:40, Sativa Boatman-Sloan
    1. Conflicts of Interest
    2. Attorney Fees
    3. Multiple Representation
    4. Fiduciary Liability
    5. Testamentary Capacity
    6. Confidentiality

SATIVA BOATMAN-SLOAN is owner of the Law Office of Sativa Boatman-Sloan, LLC, and 417 Elder Law. Her practices focuses on estate planning and probate administration; as well as elder, real estate and business law. Ms. Boatman-Sloan is a member of the Greene County Estate Planning Council, National Academy of Elder Law Attorneys, the Junior League of Springfield, and Business Network International. She is a member of the Probate and Trust committees of The Missouri Bar and the Springfield Metropolitan Bar Association. Ms. Boatman-Sloan earned her B.A. degree, cum laude, from Truman State University and her J.D. degree from St. Louis University School of Law.

COURTNEY L. FLETCHER is an attorney in the estate planning practice group of Carnahan, Evans, Cantwell & Brown, P.C. She concentrates her practice in the areas of estate planning and administration, probate, trusts and elder law, including Medicaid planning and special needs trusts. Ms. Fletcher earned her undergraduate degree, with honors, from William Jewell College and her law degree from the University of Missouri at Kansas City, Missouri. She is a member of The Missouri Bar.

JENNIFER K. HUCKFELDT is a shareholder in the estate planning practice group of Carnahan, Evans, Cantwell & Brown, P.C. She concentrates her practice in the areas of estate planning and administration; and estate, gift and income taxation. Ms. Huckfeldt has significant experience in the post-death administration of trusts and estates, including the preparation of estate tax returns and fiduciary income tax returns. She is also knowledgeable in estate planning with retirement plans and IRAs. Ms. Huckfeldt was elected as a fellow of the American College of Trust and Estate Counsel in 2011, and is currently a member of the Springfield Metropolitan Bar Association, the Greene County Estate Planning Council, The Missouri Bar, and the American Bar Association. She received her undergraduate degree from William Jewell College and her law degree from the University of Missouri – Columbia. In 1992, Ms. Huckfeldt received her LL.M. degree in taxation from New York University School of Law.

MARY LOU MARTIN is a sole practitioner in Springfield where she practices in the areas of general civil law practice, emphasizing her practice in the areas of immigration law, family law, adoption, elder law, estate planning and estate administration, wills, trusts, and probate law, including guardianship/conservatorship estates. She earned her B.S. degree in education from Ferris State College, her M.S. degree in education from Pittsburgh State University, and her J.D. degree from the University of Missouri-Kansas City School of Law. Ms. Martin is certified in mediation and arbitration, having received training in Missouri and Washington, D. C., as well as through The Missouri Bar programs. Her expertise includes international family law matters, involving both federal and state court appearances. Ms. Martin is a member of the Springfield Metropolitan Bar Association. She has memberships in The Missouri Bar's Solo Small Firm Committee, Immigration Law Committee, and Probate Committee. She serves on The Missouri Bar's Legislative Committee and as an executive member of The Missouri Bar's Fee Dispute Resolution Committee. Ms. Martin served for two (2) years as chair of The Missouri Bar’s Solo/Small Firm Committee and served for many years as a council member of the Family Law Section.

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: 6.50 Includes - Ethics: 1.00
This program has been approved by the Illinois MCLE Board for 6.5 hours of CLE credit, which includes approval for 1.0 hour of legal ethics CLE credit by the Illinois Supreme Court Commission on Professionalism.


MO CLE: 8.00 Includes - Ethics: 1.20
NBI, Inc. is an accredited sponsor with Missouri Minimum Continuing Legal Education. This program qualifies for 8.0 hours of CLE credit, which includes 1.2 hour of ethics, professionalism or malpractice prevention credit.


International Association for Continuing Education Training

N IACET: 0.70
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 0.7 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. Provide a definition of beneficiary. 2. Explain when testamentary trusts are used. 3. Recall what it means when a trust is revocable. 4. List at least two examples of an irrevocable trust. 5. Compare special needs trusts and ABLE accounts. 6. Distinguish between ethical and unethical behavior.

National Association of State Boards of Accountancy

N NAS: 8.00 Includes - Regulatory Ethics: 1.00, Specialized Knowledge: 7.00
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 8.0 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 level program presented in a group live setting. No advanced preparation or prerequisites are required. This course will: 1. Provide a definition of beneficiary. 2. Explain when testamentary trusts are used. 3. Recall what it means when a trust is revocable. 4. List at least two examples of an irrevocable trust. 5. Compare special needs trusts and ABLE accounts. 6. Distinguish between ethical and unethical behavior. No advanced preparation or prerequisites are required. Field(s) of Study -- Regulatory Ethics; Specialized Knowledge.

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Questions


How To Order

Web: Order Now
Call: 800.930.6182
Fax: 715.835.1405
Mail: NBI
P.O. Box 3067
Eau Claire, WI 54702