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Live Seminar

Trusts - Made Simple

Seminar

Date:

Tuesday, March 27, 2018

Time:

9:00 AM - 4:30 PM

Product ID#:

78267ER

Location:

Doubletree Hotel Edgewater

100 Madison St

Missoula, MT 59802

$349.00

$339 / Each Additional

$329 / New Professional

Registration Includes Course Book

Credit Information

Continuing Legal Education

  • MT CLE - 6.00

CPE for Accountants

  • CPE for Accountants/NASBA - 7.00

Other

  • Financial Planners - 7.00
  • IACET - 0.60
  • Montana CLE Credit for Paralegals - 6.00
  • NALA - 6.00
  • NFPA
  • PACE - 7.00

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.
  • 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. Grantor Trusts
  5. Ethical Considerations

Continuing Education Credit

Continuing Legal Education – CLE: 6.00 *

Financial Planners – Financial Planners: 7.00

International Association for Continuing Education Training – IACET: 0.60

Montana CLE Credit for Paralegals – Montana CLE Credit for Paralegals: 6.00 *

National Association of Legal Assistants, Inc. – NALA: 6.00 *

National Association of State Boards of Accountancy – CPE for Accountants/NASBA: 7.00 *

National Federation of Paralegal Associations, Inc. – NFPA

Professional Achievement in Continuing Education – PACE: 7.00


* denotes specialty credits

Agenda / Content Covered

  1. WHERE TO BEGIN? - AN OVERVIEW OF TRUSTS
    9:00 - 10:15, Richard M. Baskett
    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
    10:30 - 11:45, Richard M. Baskett
    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
    12:45 - 2:00, Elizabeth A. Clark
    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. GRANTOR TRUSTS
    2:15 - 3:30, Martha L. Goodloe
    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
  5. ETHICAL CONSIDERATIONS
    3:30 - 4:30, Elizabeth A. Clark
    1. Who is Your Client?
    2. Confidentiality in Third Party Communications
    3. Assessing the Client's Capacity
    4. Avoiding Fraudulent Transfers

RICHARD M. BASKETT is the owner of Baskett Law Office in Missoula, Montana. He is an attorney and certified public accountant with more than 38 years of experience. Mr. Baskett maintains a private practice emphasizing estate planning, probate, business, tax, and real estate. He speaks regularly on tax and estate planning topics and is a frequent lecturer for National Business Institute. Mr. Baskett has also been an adjunct lecturer of partnership taxation at the University of Montana School of Law. He obtained his initial tax experience in the tax department of Price Waterhouse in New York City and Baltimore, Maryland. A former general counsel for Washington Corporations, Mr. Baskett worked for tax law firms in Baltimore and Washington, D.C., before returning to Missoula and his present practice. He is a fellow of the American College of Trust and Estate Counsel and is listed in Super Lawyers Mountain States edition as a top rated lawyer in estate planning and probate. Mr. Baskett earned his undergraduate degree from the University of Montana and his Juris Doctorate degree from the University of Montana School of Law.

ELIZABETH A. CLARK is a partner with Terrazas Clark Henkel, P.C., located in Missoula, Montana. Ms. Clark focuses her practice on employment law, family law, wills, trusts, probate, business planning, and real estate transactions. She graduated with her B.S. degree from Wilmington University in Wilmington, Delaware. Ms. Clark earned her J.D. degree from the University of Montana School of Law in Missoula, Montana and her LL.M. degree from the University of Washington School of Law in Seattle, Washington. She is a member of the Montana Trial Lawyers Association, the Western Montana Bar Association, the American Bar Association, and the Western Montana Estate Planning Counsel.

MARTHA L. GOODLOE is a sole practitioner in Missoula, Montana, who focuses her practice in estate planning and business law. She is licensed to practice law in Montana, Colorado, Illinois, and Missouri. In addition to various CLE’s, Ms. Goodloe attended the American Bar Association six day estate practice course at New York Law School in 2016 and the National Academy of Elder Law Attorneys four day elder law class in 2017. She earned her B.A. degree, with honors, from the University of Missouri, Columbia, Missouri and her J.D. degree from Washington & Lee University Law School in Lexington, Virginia.

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

MT CLE: 6.00 Includes - Ethics: 1.00
Approved for 6.0 hours of CLE credit by the Montana Commission on Continuing Legal Education, including 1.0 hour of ethics.


Financial Planners

N CF: 7.00
This program has been accepted by the Certified Financial Planner Board of Standards Inc. and qualifies for 7.0 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. Describe the specific requirements for filing a grantor trust tax return. 5. Distinguish between ethical and unethical practices.

International Association for Continuing Education Training

N IACET: 0.60
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 0.6 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. Describe the specific requirements for filing a grantor trust tax return. 5. Distinguish between ethical and unethical practices.

Montana CLE Credit for Paralegals

MT MPA: 6.00 Includes - Ethics: 1.00
Approved for 6.0 hours of CLE credit by the Montana Commission on Continuing Legal Education, including 1.0 hour of ethics.


National Association of Legal Assistants, Inc.

N LA: 6.00 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 6.0 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: 7.00 Includes - Regulatory Ethics: 1.00, Specialized Knowledge: 2.00, Taxes: 4.00
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 7.0 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 -- Specialized Knowledge; 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: 7.00
This seminar qualifies for 7.0 PACE (Professional Achievement in Continuing Education) credit hours for CLU, RHU, CASL and/or ChFC.


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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