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Live Seminar

Trusts From A to Z

Seminar

Date:

Thursday, June 07, 2018

Time:

8:30 AM - 4:40 PM

Product ID#:

79049ER

Location:

Comfort Inn

716 New Haven Rd

Naugatuck, CT 06770

$349.00

$339 / Each Additional

$329 / New Professional

Registration Includes Course Book

Credit Information

Continuing Legal Education

  • CT CLE - 6.50
  • NY CLE - 8.00

CPE for Accountants

  • CPE for Accountants/NASBA - 8.00

Other

  • Enrolled Agent - 8.00
  • Financial Planners - 8.00
  • IACET - 0.70
  • PACE - 8.00

Program Description

Understand All the Wealth Planning Options Available to Your Clients

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 program, our faculty will guide you through the plethora of trust options and give you a straightforward, incisive analysis of when and how each can be used for maximum effect. Explore the goals, functions, administration hurdles, and tax implications of the top trusts in the practice. Choose the best tool for the job every time - register today!

  • Weigh all the pros and cons to select the best trust options for specific client situations.
  • Anticipate tax consequences of various trusts.
  • Use sample trust language our faculty provide to save drafting time and avoid mistakes.
  • Clarify the powers and duties of trustees in different trusts.
  • Compare living and testamentary trusts for straightforward estate planning.
  • Distinguish between accounting and taxable income and learn how trust income tax is reported.
  • Understand how ATRA has changed the practice of marital trusts and learn when they are still useful.
  • Review common ethical missteps that can cost you your license - and how to avoid them.

Who Should Attend

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

  • Attorneys
  • Accountants and CPAs
  • Trust Officers
  • Tax Managers
  • Wealth Managers

Course Content

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

Continuing Education Credit

Continuing Legal Education

Credit Hrs State
CLE 6.50 -  CT*
CLE 8.00 -  NY*

Enrolled Agent – Enrolled Agent: 8.00

Financial Planners – Financial Planners: 8.00

International Association for Continuing Education Training – IACET: 0.70

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

Professional Achievement in Continuing Education – PACE: 8.00


* denotes specialty credits

Agenda / Content Covered

  1. What are Trusts? Main Trust Principles
    8:30 - 9:10, Written by Stephen B. Keogh. Presented by Stephen B. Keogh in North Haven and Andrew B. Seiken in Naugatuck.
    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
    9:10 - 9:50, Written and presented by Ann L. Fowler-Cruz in North Haven and Naugatuck.
    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. Special Needs Trusts (SNTs)
    10:05 - 10:50, Written by Stephen B. Keogh. Presented by Stephen B. Keogh in North Haven and Ann L. Fowler-Cruz in Naugatuck.
    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
  4. Grantor Trusts
    10:50 - 11:30, Written by Beth Ann Brunalli. Presented by Beth Ann Brunalli in North Haven and Luke T. Tashjian in Naugatuck.
    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 - 12:10, Written by Beth Ann Brunalli. Presented by Beth Ann Brunalli in North Haven and Luke T. Tashjian in Naugatuck.
    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. Tax Reduction With Trusts
    1:10 - 2:00, Written by Michael T. Clear. Presented by Michael T. Clear in North Haven and Sharon Holland Purtill in Naugatuck.
    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
  7. Charitable Trusts
    2:00 - 2:40, Written by Katherine A. McAllister. Presented by Katherine A. McAllister in North Haven and Sharon Holland Purtill in Naugatuck.
    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
  8. Other Trust Structures and Issues
    2:40 - 3:25, Written by Michael T. Clear. Presented by Michael T. Clear in North Haven and Richard H. Saxl in Naugatuck.
    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
  9. Legal Ethics
    3:40 - 4:40, Written by Michael T. Clear. Presented by Michael T. Clear in North Haven and Richard H. Saxl in Naugatuck.
    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

BETH ANN BRUNALLI is a partner in the New Canaan, Connecticut office of Davidson, Dawson & Clark LLP, a Manhattan-based law firm which focuses on individual client representation. A member of the Connecticut Bar, she concentrates her practice in the areas of estate planning, the administration of estates and trusts, fiduciary income tax planning, and tax planning. Ms. Brunalli is a member of the Executive Committee of the Connecticut Bar Association’s Estate and Probate Section. She earned her B.A. degree, magna cum laude, from the University of Notre Dame and her J.D. degree from the University of Connecticut School of Law, with a certificate in tax studies. (North Haven location)

MICHAEL T. CLEAR is a partner in the Private Client Services Department of the law firm of Wiggin and Dana LLP. Mr. Clear focuses his practice on estate planning, estate and trust administration, probate litigation and business succession planning. He received his B.A. degree from the University of Richmond, his M.Ed. degree from the University of Maryland, and his J.D. degree from the Quinnipiac University School of Law. He is the president of the Fairfield County Chapter of the Exit Planning Exchange (CT XPX), a co-chair of the Probate and Estates Section of the Fairfield County Bar Association, and a member of the Advisory Board for the Center for Family Business. (North Haven location)

ANN L. FOWLER-CRUZ is a principal in Cohen and Wolf, P.C.'s trusts and estates and elder law groups. Her elder law practice focuses on long-term care planning, asset preservation strategies, Medicaid applications, disability planning, utilizing conservatorships/guardianship, and special needs trusts. Ms. Fowler-Cruz's estate planning practice includes the creation of wills, trusts, and advance directives. She also handles probate administration. Ms. Fowler-Cruz has been a staunch advocate for the elderly and the disabled for more than 20 years. She has the distinction of being a certified elder law attorney (CELA) by the National Elder Law Foundation for more than 15 years and is accredited to practice before the Department of Veterans Affairs. Certified elder law attorney (CELA) is recognized by the American Bar Association, but not by the Rules Committee of the Connecticut Superior Court. Ms. Fowler-Cruz's extensive knowledge in the area of elder law enables her to assist the elderly and the disabled in realizing the very best quality of life. Prior to joining Cohen and Wolf, P.C., Ms. Fowler-Cruz was a founding partner of the Law Firm of Hersh & Fowler-Cruz, with offices in Connecticut and New York. She continues to be well versed in the laws of both states and has the ability to serve clients in both Connecticut and New York. Ms. Fowler-Cruz is admitted to practice in Connecticut, New York and the U.S. District Court for the Eastern District of New York. She is a member of the National Academy of Elder Law Attorneys, Inc. (NAELA), the Connecticut Bar Association sections on Elder Law and Probate & Trusts, the Fairfield County Bar Association, and the New York State Bar Association. Ms. Fowler-Cruz is an active speaker in the community. She is a frequent guest speaker before organizations, such as the Alzheimer’s Association, the Financial Planning Association of Connecticut, the Connecticut and New York State bar associations, as well as local organizations. Ms. Fowler-Cruz earned her J.D. degree from Quinnipiac College School of Law and her B.A. degree from Smith College. (North Haven and Naugatuck locations)

STEPHEN B. KEOGH is a partner in the Norwalk law firm of Keogh, Burkhart & Vetter, practicing primarily in elder law and probate law. A magna cum laude graduate of Yale College, Mr. Keogh earned his J.D. degree from Columbia University. He is a member of the Fairfield County, Connecticut and American bar associations; and the National Academy of Elder Law Attorneys. Mr. Keogh is a member of the Board of Directors of the Connecticut Chapter of the National Academy of Elder Law Attorneys, a member of the Executive Committee of the Elder Law Section of the Connecticut Bar Association, and a past co-chair of the Elder Law Section of the Fairfield County Bar Association. He is also a member of the Community Bioethics Forum, which is sponsored by the Program for Biomedical Ethics at the Yale School of Medicine, and was the first recipient of the Glenn E. Knierim Pro Bono Award, given by the Connecticut Probate Assembly, in April 2012. (North Haven location)

KATHERINE A. McALLISTER is an attorney in Cummings & Lockwood LLC's private clients group and is based in the Stamford office. She focuses her practice on estate planning and estate and trust administration. Prior to joining Cummings & Lockwood LLC, she served as a judicial clerk to the Honorable Peter T. Zarella of the Connecticut Supreme Court. Ms. McAllister earned her B.A. degree, cum laude, from Williams College and her J.D. degree, magna cum laude, from Boston College Law School. She is a member of the Connecticut Bar Association, Fairfield County Bar Association and the Connecticut Supreme Court Historical Society. (North Haven location)

SHARON HOLLAND PURTILL is of counsel with the law firm of McElroy, Deutsch, Mulvaney & Carpenter, LLP. Ms. Purtill is a member of the firm's private client services group and counsels individuals and families on all aspects of business and succession planning, limited liability companies, trusts, taxation, estate and trust administration, pre-nuptial agreements, conservatorships, estate planning, charitable giving, wealth preservation and asset protection planning. She received her B.A. degree from Bucknell University, her J.D. degree from the University of Connecticut, and her LL.M. degree in taxation from Boston University. Ms. Purtill is the chair of the Estates and Probate Section of the Hartford County Bar Association and a member of the Estate and Probate, Elder Law and Taxation sections of the Connecticut Bar Association. She is the former attorney-member of the Connecticut Council on Probate Judicial Conduct and the chairwoman of the Glastonbury Town Plan and Zoning Commission. (Naugatuck location)

RICHARD H. SAXL is a sole practitioner in Westport Connecticut, where his practice areas include estate planning and probate, estate tax, zoning and land use, probate and land use litigation and appeals. Mr. Saxl graduated with his B.A. degree from the University of Pennsylvania and earned his J.D. degree from Rutgers, The State University of New Jersey School of Law. He passed the Connecticut bar in 1976 and has been practicing in Westport ever since. Mr. Saxl has successfully argued cases in the Connecticut Probate and Superior courts, the Connecticut Appellate Court and the Connecticut Supreme Court. He taught probate administration at Fairfield University. Mr. Saxl has served as a lecturer for several estate planning and probate seminars. He has been designated as one of the Connecticut Super Lawyers on five occasions, most recently in 2017. (Naugatuck location)

ANDREW B. SEIKEN is an attorney with Cummings & Lockwood LLC in the firm’s private clients group and he is based in the Stamford, Connecticut office. Mr. Seiken focuses his practice on matters involving complex estate planning for high net worth individuals and families with respect to estate, gift and generation-skipping transfer tax and philanthropic planning. He also has experience in domestic and international trust and estate administration. Mr. Seiken graduated with his B.S. degree in finance from Lehigh University, he earned his J.D. degree from Rutgers University School of Law and his LL.M. degree from New York University School of Law. He is a member of the New York State Bar Association (Estate Planning Committee), the United Jewish Association Federation of New York (Trusts and Estates Group, Young Lawyers Division, and Westchester Business and Professional Division), and the Estate Planning Council of Westchester County. Mr. Seiken is admitted to practice law in Connecticut, Florida, New York and New Jersey. He was selected for Connecticut Super Lawyers as a Rising Star in estate and probate 2015-present. (Naugatuck location)

LUKE T. TASHJIAN is an attorney who practices corporate and business law; estate planning and administration; and tax law in the Greenwich, Connecticut office of Whitman Breed Abbott & Morgan LLC. His practice includes structuring tax efficient transactions; advising clients on the tax effects of proposed transactions; preparing estate planning and corporate documents; probating estates and preparing tax returns; representing businesses in mergers, acquisitions, and sales; forming for profit and not-for-profit entities; and representing parties in tax controversies and collection matters. Mr. Tashjian is a frequent author and speaker. He is admitted to practice in Massachusetts, Connecticut, the U.S. District Court for the District of Massachusetts, the U.S. Tax Court, the U.S. District Court for the District of Connecticut, and in New York. Mr. Tashjian graduated first in his class from the Boston University School of Law Graduate Tax Program with an LL.M. degree in taxation, after having earned his J.D. degree, with honors, from the University of Connecticut School of Law; and his B.A. degree, summa cum laude, from the University of Connecticut. (Naugatuck location)

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

CT CLE: 6.50 Includes - Ethics: 1.00
Neither the Connecticut Judicial Branch nor the Commission on Minimum Continuing Legal Education approve or accredit CLE providers or activities. It is the opinion of NBI, Inc. that this activity qualifies for up to 6.5 hours toward your annual CLE requirement in Connecticut, including 1.0 hour(s) of ethics/professionalism.


NY CLE: 8.00 Includes - Areas of Professional Practice: 7.00, Ethics: 1.00
This course has been approved in accordance with the requirements of the New York State Continuing Legal Education Board for a maximum of 8.0 credit hours. 7.0 hours can be applied to the Areas of Professional Practice requirement and 1.0 hour can be applied toward the ethics and professionalism requirement. This live format program is appropriate for newly admitted and experienced attorneys.


Enrolled Agent

N EA: 8.00
NBI, Inc. is an IRS qualified sponsor of continuing professional education for Enrolled Agents.


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. Recall key definitions and abbreviations used in trust practice. 2. Explain the difference between living and testamentary trusts. 3. Restate when a beneficiary qualifies for a speical needs trust. 4. Explain when grantor trusts are used. 5. Provide a definition of a marital trust. 6. Recall the current estate/gift/GST tax exemption levels. 7. Explain the differences between charitable lead and charitable remainder trusts. 8. List at least two more trusts and explain when they're used. 9. Distinguish between ethical and unethical practices.

International Association for Continuing Education Training

Credit Logo
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. Recall key definitions and abbreviations used in trust practice. 2. Explain the difference between living and testamentary trusts. 3. Restate when a beneficiary qualifies for a speical needs trust. 4. Explain when grantor trusts are used. 5. Provide a definition of a marital trust. 6. Recall the current estate/gift/GST tax exemption levels. 7. Explain the differences between charitable lead and charitable remainder trusts. 8. List at least two more trusts and explain when they're used. 9. Distinguish between ethical and unethical practices.

National Association of State Boards of Accountancy

Credit Logo
N NAS: 8.00 Includes - Regulatory Ethics: 1.00, Specialized Knowledge: 6.00, Taxes: 1.00
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. Upon completion of this course, attendee will be able to: 1. Recall key definitions and abbreviations used in trust practice. 2. Explain the difference between living and testamentary trusts. 3. Restate when a beneficiary qualifies for a speical needs trust. 4. Explain when grantor trusts are used. 5. Provide a definition of a marital trust. 6. Recall the current estate/gift/GST tax exemption levels. 7. Explain the differences between charitable lead and charitable remainder trusts. 8. List at least two more trusts and explain when they're used. 9. Distinguish between ethical and unethical practices. Field(s) of Study -- Taxes; Regulatory Ethics; Specialized Knowledge.

Professional Achievement in Continuing Education

N PACE: 8.00
This seminar qualifies for 8.0 PACE (Professional Achievement in Continuing Education) credit hours for ChFC.


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