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Audio CD + Course Book

Trusts From A to Z

Audio CD + Course Book

Copyright Date:

December, 2017

Product ID#:

77372CDRA

Audio + Course Book

Credit Information

Continuing Legal Education

  • KY CLE - 6.00
From Event: Trusts From A to Z, held December 2017.

Program Description

Planning your clients' financial future and legacy is diverse and complex, with a unique tool for every unique client situation. In this fast-paced comprehensive legal instruction, our authors will guide you through the plethora of trust options and give you a straightforward, incisive analysis of when and how each is to be used for maximum effect. Get the best tools for your practice - order today!

Course Content

  1. What are Trusts? Main Trust Principles
  2. Simple Testamentary Trusts and Revocable Living Trusts
  3. Tax Reduction with Trusts
  4. Grantor Trusts
  5. Marital Trusts in a Nutshell
  6. Charitable Trusts
  7. Special Needs Trusts (SNTs)
  8. Legal Ethics
  9. Other Trust Structures and Issues

Continuing Education Credit

Continuing Legal Education – CLE: 6.00 KY - Credit Approval Expiration 06/30/2018 *


* denotes specialty credits

Agenda / Content Covered

  1. What are Trusts? Main Trust Principles
    8:30 - 9:15, Written by Leah A. Morrison. Presented by Leah A. Morrison in Bowling Green and Louisville.
    1. Trust Terms, Concepts and Definitions
    2. Key Parties in a Trust and Their Roles
    3. The Laws of Trust Creation and Administration (UTC, UPA, UPIA, etc.)
    4. Trust Revocability and its Implications
    5. Trust Funding Basics
    6. Creditor Rights in Regards to Trusts
    7. Does the Client Need a Trust?
  2. Simple Testamentary Trusts and Revocable Living Trusts
    9:15 - 10:00, Written by Leah A. Morrison. Presented by Leah A. Morrison in Bowling Green and Louisville.
    1. When are Testamentary Trusts Used?
    2. Living vs. Testamentary Trusts for Tax Purposes
    3. Trust Funding Mistakes and Consequences
    4. Top Trust Administration Issues
    5. Sample Trust Language
  3. Tax Reduction with Trusts
    10:15 - 11:00, Written by James C. Worthington Sr. Presented by Stephanie L. McGehee-Shacklette in Bowling Green and James C. Worthington Sr. in Louisville.
    1. Current State and Federal Tax Regime
    2. Taxation of Trusts: Transfer and Income
    3. Accounting vs. Taxable Income
    4. Tax Consequences of Distributions
    5. Tax Implications of a Trust Becoming Irrevocable
    6. Accumulation Distribution for Some Complex Trusts
    7. The 2% Floor on Miscellaneous Itemized Deductions
    8. Material Participation by Trusts - Recent IRS Changes
    9. Tax Consequences of Trusts in Estate Administration
  4. Grantor Trusts
    11:00 - 11:30, Written by James C. Worthington Sr. Presented by Stephanie L. McGehee-Shacklette in Bowling Green and James C. Worthington Sr. in Louisville.
    1. Types of Grantor Trusts and When They are Used
    2. Intentionally Defective Grantor Trusts
    3. Tax Planning, Requirements and Consequences
    4. Trustee Powers and Duties
    5. Grantor Trust Status and Reporting
    6. Exceptions to the Rules
    7. Sample Trust Language
  5. Marital Trusts in a Nutshell
    11:30 - 12:00, Written by Scott A. Weinberg. Presented by Elizabeth Ann Wieneke in Bowling Green and Scott A. Weinberg in Louisville.
    1. When are Marital Trusts Used?
    2. Old AB/Credit Shelter Trusts After ATRA
    3. Tax Planning, Requirements and Consequences
    4. Trustee Powers, Duties and Challenges
    5. Underfunded Trusts After First Death
    6. QDOTs for Noncitizen Spouses
    7. Exceptions to the Rules
    8. Handling Dysfunctional Client Families
    9. Sample Trust Language
  6. Charitable Trusts
    1:00 - 1:45, Written by Christopher Clendenen. Presented by Elizabeth Ann Wieneke in Bowling Green and Christopher Clendenen in Louisville.
    1. When are Charitable Trusts Used?
    2. CRTs vs. CLTs
    3. Tax Planning, Requirements and Consequences
    4. Trustee Powers and Duties and Administration Issues
    5. Exceptions to the Rules
    6. Charitable Planning in Smaller Estates
    7. Sample Trust Language
  7. Special Needs Trusts (SNTs)
    1:45 - 2:30, Written by Misty C. Vantrease. Presented by Misty C. Vantrease in Bowling Green and Louisville.
    1. When are SNTs Used? (SNTs vs. ABLE Act Accounts)
    2. Types of SNTs
    3. Tax Consequences of SNTs
    4. Preserving Benefits Eligibility
    5. Trustee Powers and Duties (What Can the Distributions be Used for?)
    6. Sample Trust Language
  8. Legal Ethics
    2:45 - 3:45, Written by Misty C. Vantrease. Presented by Misty C. Vantrease in Bowling Green and C. Shawn Fox in Louisville.
    1. Who Is Your Client? The Most Important Question in Trusts Practice
    2. Top Legal Malpractice Risks
    3. Testator Capacity Issues
    4. Dealing with Trust Beneficiaries
    5. Protecting Confidentiality
    6. Preventing Fiduciary Misconduct
  9. Other Trust Structures and Issues
    3:45 - 4:40, Written by C. Shawn Fox. Presented by Stephanie L. McGehee-Shacklette in Bowling Green and C. Shawn Fox in Louisville.
    1. Minors' Trusts
    2. IRA Trusts
    3. Pet Trusts
    4. Medicaid Trusts
    5. Asset Protection Trusts
    6. Irrevocable Life Insurance Trusts
    7. Incomplete Non-Grantor Trusts
    8. Gun Trusts
    9. Trust Decanting, Modification and Dissolution
    10. Smaller Estate Trusts
    11. Constructive Trusts

CHRISTOPHER CLENDENEN is a partner with the law firm of Murphy & Clendenen, PLLC, where his main areas of practice include real property, elder law, and probate. He is a member of the National Academy of Elder Law Attorneys and the Kentucky Bar Association (Elder Law, Probate and Trust, and Real Property Law sections). Mr. Clendenen is admitted to practice before the U.S. District Court for the Eastern District of Kentucky and the U.S. Court of Appeals for the Sixth Circuit. He earned his undergraduate degree, cum laude, from the University of Cincinnati and his J.D. degree from the University of Dayton College of Law. (Louisville location)

C. SHAWN FOX is an attorney with the Louisville law firm of Seiller Waterman LLC. He represents individuals and family owned businesses, assisting them in the areas of estate planning and administration, corporate and business law, civil and commercial litigation, intellectual property and intellectual property litigation. Mr. Fox frequently lectures to community and professional groups on estate administration and litigation, guardianships and estate planning. He is a member of the Probate and Trust Law Section of the Louisville and Kentucky bar associations. Mr. Fox earned his B.A. degree from Bellarmine College and his J.D. degree, cum laude, from the University of Louisville, Brandeis School of Law. (Louisville location)

STEPHANIE L. McGEHEE-SHACKLETTE is a partner with Berry & McGehee PLLC. Her main areas of practice are estate planning and probate, elder law, bankruptcy and collections. Ms. McGehee is a member of the Bowling Green-Warren County, Kentucky and American bar associations. She graduated, magna cum laude, from the University of Kentucky and earned her J.D. degree from the University of Kentucky College of Law. (Bowling Green location)

LEAH A. MORRISON is an attorney with English, Lucas, Priest & Owsley, LLP, in Louisville, Kentucky. She concentrates her practice in designing estate, asset protection, and business succession plans in a tax advantageous manner. Ms. Morrison is a member of the Kentucky and Louisville bar associations. She earned her J.D. degree, magna cum laude, from University of Louisville Brandeis School of Law; her B.A. degree in criminal justice from George Washington University; and her LL.M degree from the University of Alabama. (Bowling Green and Louisville locations)

MISTY C. VANTREASE is an attorney with Kentucky ElderLaw, PLLC. She assists older clients, their children and other family members, with nursing home, Medicaid, asset preservation, asset distribution, mental capacity, probate, guardianship and other issues, both financial and non-financial. In addition, she drafts legal documents such as wills, powers of attorney, living wills, health care surrogates, and care agreements for clients and family members. She also speaks and teaches in a variety of forums. Ms. Vantrease is a member of the Kentucky Bar Association. She earned her B.A. degree, summa cum laude, from Murray State University. She earned her J.D. degree from the University of Louisville Louis Brandeis School of Law. (Bowling Green and Louisville locations)

SCOTT A. WEINBERG is a shareholder of Lynch, Cox, Gilman & Goodman, P.S.C., where he focuses his practice in estate planning, business organizations, and tax planning. He concentrates his practice in designing estate, asset protection, and business succession plans in a tax advantageous manner for medium and high net worth individuals and families. He also enjoys representing clients in the formation of closely-held business entities and in special needs planning. Mr. Weinberg also maintains an active practice in Florida, and regularly advises clients in trust and estate administration issues in both Kentucky and Florida. He also routinely represents personal representatives in Kentucky and Florida probate matters and oversees the filing of United States estate tax returns and Kentucky inheritance tax returns. Mr. Weinberg is licensed to practice in Kentucky, Florida, Illinois and Indiana; and is a member of the state bar association of each of these states. Mr. Weinberg taught estate and gift tax as an adjunct professor at the University of Louisville School of Law in the Fall of 2013. He earned his B.A. degree from Emory University and his J.D. degree, cum laude, from the University of Louisville School of Law. (Louisville location)

ELIZABETH ANN WIENEKE is a partner with the firm of Whitlow, Roberts, Houston & Straub, PLLC, in Paducah, Kentucky. Ms. Wieneke is a member of the Kentucky and Illinois State bar associations. Her practice is focused in the areas of estate planning and administration, elder law, real estate and property law, and business and corporate law. Ms. Wieneke advises clients regarding estate planning and drafts related documents including wills, powers of attorney, living will directives, various types of trusts and prenuptial agreements. Her real estate and property law practice focuses on performing title exams for residential, commercial and agricultural properties and mineral acquisitions and resolving title issues. Ms. Wieneke has litigation experience in matters related to her practice areas,including foreclosure actions, quiet title actions, petitions for declaratory judgment, petitions for trust ramification and interpretation, minors' settlements, and collection actions. She earned her B.A. degree, summa cum laude, from Murray State University and her J.D. degree, cum laude, from Southern Illinois University. (Bowling Green location)

JAMES C. WORTHINGTON SR. practices all aspects of trust and estate planning and administration, including business succession and tax planning, with his own law firm, Worthington Law Firm, in Louisville, Kentucky. He was elected an American College of Trust and Estate Counsel fellow in 2014. Mr. Worthington is a member of the Kentucky Bar Association (chair, Probate Section; member, Probate Section Legislative Committee). Previously, he was a trust officer with Stock Yards Bank & Trust Co. Mr. Worthington earned his B.S. degree, magna cum laude, from Washington University; his J.D. degree from Duke University School of Law; and his LL.M. degree, in taxation, from the University of Alabama School of Law. (Louisville location)

Please refer to Continuing Education Credit FAQ for general information about seeking credit for your participation in one of our continuing education programs.

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Phone: 866-240-1890

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Accreditation Details:

Continuing Legal Education

KY CLE: 6.00 Credit Approval Exp
06/30/2018
Includes - Ethics: 1.00
This program has been approved as a technological CLE activity by the Kentucky Bar Association Continuing Legal Education Commission and may qualify for up to 6.0 credits, of which 1.0 hour relates to ethical considerations. No more than 6.0 hours of technological CLE credit may be earned during a reporting period.


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