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Live Seminar

Trusts 101

Seminar

Date:

Friday, May 04, 2018

Time:

8:30 AM - 4:40 PM

Product ID#:

78878ER

Location:

South Beach Biloxi Hotel & Suites

1735 Beach Blvd

Biloxi, MS 39531

$349.00

$339 / Each Additional

$329 / New Professional

Registration Includes Course Book

Credit Information

Continuing Legal Education

  • MS CLE - 6.70

CPE for Accountants

  • CPE for Accountants/NASBA - 8.00

Other

  • Financial Planners - 8.00
  • IACET - 0.70
  • NALA - 6.50
  • NFPA
  • PACE - 8.00

Program Description

Provide your clients with the full spectrum of wealth preservation options.

When assessing complex information, it often helps to break items into basic building blocks. The same approach can be successful when dealing with asset protection. Be prepared for specific challenges associated with various types of trusts by understanding their unique characteristics. Our intensive full-day primer will provide you with a comprehensive overview of the wide variety of trusts available. Register today!

  • Determine what role the settlor will play by weighing the pros and cons of establishing an irrevocable trust over a revocable trust.
  • Learn what not to do when selecting and drafting a revocable trust to avoid common mistakes.
  • Learn how to choose the most beneficial vehicle for preserving your client's wealth: understand the purpose behind the various types of irrevocable trusts.
  • Explore the powers and duties of personal representatives in irrevocable trusts.
  • Save money on taxes with effective use of defective trusts.
  • Learn why it's important to know when to file the tax return for grantor trusts.
  • Determine whether a client qualifies as a beneficiary of a special needs trust.
  • Don't reinvent the wheel - modify our sample trust documents and use our drafting tips to create airtight trusts.

Who Should Attend

This basic level seminar is designed for the professionals involved in creating, administering and terminating trusts:

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

Course Content

  1. Where to Begin? - An Overview of Trusts
  2. Revocable Living Trusts
  3. Trusts Used for Tax Reduction
  4. Ethical Considerations
  5. Grantor Trusts
  6. Estate Planning for the Disabled

Continuing Education Credit

Continuing Legal Education – CLE: 6.70 *

Financial Planners – Financial Planners: 8.00

International Association for Continuing Education Training – IACET: 0.70

National Association of Legal Assistants, Inc. – NALA: 6.50 *

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

National Federation of Paralegal Associations, Inc. – NFPA

Professional Achievement in Continuing Education – PACE: 8.00 *


* denotes specialty credits

Agenda / Content Covered

  1. WHERE TO BEGIN? - AN OVERVIEW OF TRUSTS
    8:30 - 9:45, Written by Cory R. Lancaster. Presented by Haidee L. Oppie Sheffield in Biloxi and Cory R. Lancaster in Tupelo.
    1. Main Terms Defined
    2. Major Laws Governing Creation and Administration of Trusts
    3. Who Are the Main Parties? Their Duties and Responsibilities to a Trust
    4. Revocable vs. Irrevocable
    5. Determining Your Client's Planning Needs
    6. Reasons for Drafting a Trust
    7. Deciding Which Type of Trust to Use
  2. REVOCABLE LIVING TRUSTS
    10:00 - 11:15, Written by Kaleel G. Salloum Jr. Presented by Kaleel G. Salloum Jr. in Biloxi and Cory R. Lancaster in Tupelo.
    1. Traditional Estate Planning vs. Revocable Trust Planning
    2. Credit Shelter Trusts
    3. Marital Deduction Trusts
    4. Qualified Terminable Interest Trusts (QTIPs)
    5. Funding the Trust
    6. Drafting Tips and Samples
    7. Common Mistakes to Avoid
    8. Tax Consequences
  3. TRUSTS USED FOR TAX REDUCTION
    11:15 - 12:15, Written by Kaleel G. Salloum Jr. Presented by Kaleel G. Salloum Jr. in Biloxi and S. Gray Edmondson in Tupelo.
    1. Charitable Remainder Trusts
    2. Qualified Domestic Trusts
    3. Qualified Personal Residence Trusts (QPRTs)
    4. Defective Trusts
    5. Education Trusts for Children and Grandchildren
    6. Generation Skipping Trusts
    7. Funding the Trust
  4. ETHICAL CONSIDERATIONS
    1:15 - 2:15, Written by J. Walker Sims. Presented by Dennie B. Mayhone Jr. in Biloxi and J. Walker Sims in Tupelo.
    1. Who is Your Client?
    2. Confidentiality in Third Party Communications
    3. Assessing the Client's Capacity
    4. Avoiding Fraudulent Transfers
  5. GRANTOR TRUSTS
    2:15 - 3:15, Written by J. Walker Sims. Presented by Haidee L. Oppie Sheffield in Biloxi and J. Walker Sims in Tupelo.
    1. What Grantor Trusts are Used For
    2. Types of Grantor Trusts
    3. Provisions Triggering Grantor Trust Status
    4. Funding the Grantor Trust - Who is the Grantor?
    5. Drafting Tips and Samples
    6. Taxation Considerations - When to File the Return?
    7. Administrative Power
  6. ESTATE PLANNING FOR THE DISABLED
    3:30 - 4:40, Written by Sarah C. Stevens and Kathy Brown van Zutphen. Presented by Kathy Brown van Zutphen in Biloxi and Sarah C. Stevens in Tupelo.
    1. The Types of Special Needs Trusts and Their Specific Purposes
    2. Who Can Be the Beneficiary
    3. Drafting Tips and Samples
May 4 - Biloxi

DENNIE B. MAYHONE JR. is the founder of Mayhone Elder Law, PLLC. He practices in the areas of estate planning and elder law, helping clients and their families to integrate their legal, financial, and personal care needs into a plan to enhance the quality of life for seniors and those with disabilities, and their families. Mr. Mayhone assists families to protect assets, coordinate care and gain peace of mind. He is accredited by the Veterans Administration to assist veterans and their spouses with VA benefits, including "Aid and Attendance" pension benefits. Mr. Mayhone is admitted to The Mississippi Bar and is a member of the Jackson County Bar. He is also a member of the National Academy of Elder Law Attorneys, ElderCounsel, Elder Law Answers, the Life Care Planning Law Firms Association. Mr. Mayhone earned his B.A. degree from the University of Southern Mississippi and his J.D. degree from the University of Mississippi School of Law.

HAIDEE L. OPPIE SHEFFIELD is an attorney with the Law Offices of Haidee Oppie Sheffield PLLC, where she focuses her practice on estate planning, wills and trusts, estate administration and probate, and corporation planning. She is a member of the Jackson County Bar Association and the American Bar Association. Ms. Oppie Sheffield has lectured for the Jackson County Bar Association and other private organizations. She earned her B.S. degree from the University of Southern Mississippi, her J.D. degree from Cumberland School of Law, her LL.M. degree in taxation from the University of Alabama, and is currently working towards her LL.M. degree in business transactions at the University of Alabama.

KALEEL G. SALLOUM JR. practiced law on Wall Street for several years before practicing law in Gulfport. His practice areas include estate and trust planning and administration, tax planning, like kind exchanges, asset protection planning, business formations, business acquisitions, divestitures and restructurings, and assisting clients with a wide range of business transactions. Mr. Salloum earned his B.B.A. degree, with honors, from the University of Notre Dame with a major in accounting, and passed the Uniform CPA Examination in that year. He earned his J.D. degree, with honors, from the University of Mississippi, where he served as business manager of the Mississippi Law Journal, and was named outstanding student in the field of corporate law. Mr. Salloum earned his Master of Laws in taxation from New York University. He is a member of The Mississippi Bar. Mr. Salloum is a past president of the South Mississippi Estate Planning Council, served on the Executive Committee of the Business Law Section of The Mississippi Bar and, by appointment of the Mississippi Secretary of State, served on the Corporation Study Group in 2011.

KATHY BROWN VAN ZUTPHEN has practiced law for more than twenty years. She initially worked as a litigator in insurance defense firms, but later formed AL-MS Coastal Law, LLC, in Gulfport, Mississippi, where she focuses her practices in the areas of elder law, probate, trusts and estates, business law, and general civil litigation. Ms. van Zutphen is admitted to the Alabama State Bar and The Mississippi Bar, and to practice before all courts in Alabama and Mississippi. She is a former member of the Board of Directors for the Mississippi Defense Lawyers Association and past president of the Harrison County Bar Association. Ms. van Zutphen earned her J.D. degree from Cumberland School of Law of Samford University, in Birmingham, Alabama, where she was a member of the American Journal of Trial Advocacy.

May 8 - Tupelo

S. GRAY EDMONDSON is an attorney at Barnes Law Firm, P.A., where he practices in the areas of partnership, corporate and individual tax planning; business transactions; tax controversy; estate and wealth transfer planning; probate, estate and trust litigation; asset protection; and charitable planning. He has conducted, written and directed numerous seminars for professional, academic and civic groups on taxation, business and estate planning. Mr. Edmondson is a member of The Mississippi Bar. He earned his B.A. degree, cum laude, from the University of Mississippi; his J.D. degree, cum laude, from the University of Mississippi School of Law; and his LL.M. degree from New York University School of Law.

CORY R. LANCASTER is the managing member of Lancaster Law Firm, PLLC located in Tupelo, Mississippi. He focuses his practice in the areas of estate planning, estate administration, elder law, asset protection, business law and tax law. Mr. Lancaster frequently speaks to professional, civic and academic groups on the areas of law in which he specializes. He has been named as a Mid-South Rising Star by Super Lawyers. Mr. Lancaster is a member of several professional organizations, including WealthCounsel, a national organization of estate planning attorneys; The Mississippi Bar (Taxation, and Estates and Trusts sections); Tennessee Bar Association (Estate Planning and Probate Section); and Community Development Foundation. Mr. Lancaster is an accredited attorney for the Department of Veterans Affairs. He is also a charter member of the North Mississippi Financial Planning Association where he serves as treasurer. Mr. Lancaster earned his LL.M. degree from the University of Florida Levin College of Law, his J.D. degree from the University of Mississippi School of Law, and his Bachelor of Accountancy degree from Mississippi State University. He is licensed to practice law in Mississippi and Tennessee.

J. WALKER SIMS is an attorney with Sims Law Firm. He has been practicing law in the North Mississippi area for more than 25 years. Mr. Sims handles general civil litigation in state and federal court. He also practices in the areas of elder law, wills, and estates. Mr. Sims is admitted to practice in Mississippi and before the U.S. District Court, Northern District of Mississippi and the U.S. Court of Appeals Fifth Circuit. He is also admitted to practice in Tennessee and before the U.S. District Court, Western District of Tennessee. Mr. Sims earned his A.B. degree from Princeton University and his J.D. degree from the University of Mississippi School of Law.

SARAH C. STEVENS is the managing partner at her firm Sarah Cline Stevens Attorney At Law, PLLC in Amory, Mississippi. She regularly speaks on the subjects of long-term care planning, asset protection planning, elder law and estate planning. Ms. Stevens is admitted to practice in all Mississippi Courts and is a member of ElderCounsel, the National Academy of Elder Law Attorneys (NAELA) and the Monroe County Bar Association. She was recently named one of North Mississippi’s Top 40 under 40 by the Tupelo Daily Journal for business and community leaders. Ms. Stevens earned her undergraduate and law degrees from the University of Mississippi.

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

MS CLE: 6.70 Includes - Ethics: 1.00
This course has been approved by the Mississippi Commission on Continuing Legal Education for a maximum of 6.7 hours of credit, which includes 1.0 hour of ethics.


Financial Planners

N CF: 8.00
This program has been accepted by the Certified Financial Planner Board of Standards Inc. and qualifies for 8.0 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 the main trust parties and their roles in the trust process. 2. Compare revocable vs. irrevocable trusts and list three types of revocable trusts. 3. Evaluate the effectiveness of three different trusts in reducing the grantor's tax burden. 4. Distinguish between ethical and unethical practices. 5. Describe the specific requirements for filing a grantor trust tax return. 6. Develop a plan for protecting a disabled beneficiary.

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. Identify the main trust parties and their roles in the trust process. 2. Compare revocable vs. irrevocable trusts and list three types of revocable trusts. 3. Evaluate the effectiveness of three different trusts in reducing the grantor's tax burden. 4. Distinguish between ethical and unethical practices. 5. Describe the specific requirements for filing a grantor trust tax return. 6. Develop a plan for protecting a disabled beneficiary.

National Association of Legal Assistants, Inc.

N LA: 6.50 Includes - Ethics: 1.00
This seminar meets the requirements of the Certifying Board for Legal Assistants of the National Association of Legal Assistants, Inc., for 6.5 hours, including 1.0 ethics, of continuing legal assistant education credit required to maintain the CLA (Certified Legal Assistant) credential.


National Association of State Boards of Accountancy

N NAS: 8.00 Includes - Regulatory Ethics: 1.00, Taxes: 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: - Examine ways to determine what role the settlor will play by weighing the pros and cons of establishing an irrevocable trust over a revocable trust. - Identify what not to do when selecting and drafting a revocable trust to avoid common mistakes. - Present how to choose the most beneficial vehicle for preserving their client’s wealth by understanding the purpose behind the various types of irrevocable trusts. - Identify the powers and duties of personal representatives in irrevocable trusts. - Explore how to save money on taxes with effective use of defective trusts. - Discover why it’s important to know when to file the tax return for grantor trusts. - Identify how you can determine whether a client qualifies as a beneficiary of a special needs trust. - Present sample trust documents and show how to modify and use our drafting tips to create airtight trusts. No advanced preparation or prerequisites are required. Field(s) of Study -- Taxes; Regulatory Ethics.

National Federation of Paralegal Associations, Inc.

N PAR:
NBI, Inc. is a NFPA approved CLE provider.


Professional Achievement in Continuing Education

N PACE: 8.00 Includes - Chartered Financial Consultant: 8.00, Chartered Life Underwriter: 8.00, Registered Health Underwriter: 8.00
This seminar qualifies for 8.0 PACE (Professional Achievement in Continuing Education) credit hours for CLU, RHU and/or ChFC.


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