Audio CD + Course Book

Trusts: The Ultimate Guide

Audio CD + Course Book

Copyright Date:

December, 2017

Product ID#:


Audio + Course Book

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From Event: Trusts: The Ultimate Guide, held December 2017.

Program Description

This definitive guide to trusts will give you key knowledge of unique trusts structures, sample provisions language, and reasoning for which planning tools better suit specific client situations. Understand the key structures and uses of today's top trusts and anticipate administration challenges and tax consequences. Order today!

Course Content

  1. Key Parties, Terms, Legal Concepts
  2. Revocable vs. Irrevocable and Revocable to Irrevocable
  3. Living vs. Testamentary Trusts
  4. Marital/Disclaimer Trusts Post-ATRA
  5. Grantor Trusts
  6. IRA Trusts
  7. Medicaid-Planning Trusts
  8. Supplemental Needs Trusts
  9. Asset Protection Trusts: Domestic and Offshore
  10. Charitable Trusts
  11. Legal Ethics
  12. Trust Decanting, Modification, Dissolution, and Constructive Trusts
  13. Gun/NFA Trusts
  14. Tax Deduction with Trusts
  15. Other Trust Structures and Issues

Continuing Education Credit

Continuing Legal Education

Credit Hrs State Credit Approval Expiration
CLE 14.00 NY * 12/07/2019
CLE 12.00 PA * 12/07/2019

* denotes specialty credits

Agenda / Content Covered

Day 1

  1. Key Parties, Terms, Legal Concepts
    9:00 - 9:45, Debby Rosenfeld
    1. Key Laws of Trust Drafting and Administration
    2. Current State and Federal Tax Regime Update
    3. Grantors, Beneficiaries, Trustees and Other Trust Parties
    4. Does Your Client Need a Trust?
    5. Creditor Rights in Regards to Trusts
  2. Revocable vs. Irrevocable and Revocable to Irrevocable
    9:45 - 10:30, Vivian Garrastegui
    1. Revocable vs. Irrevocable
    2. When can a Trust Become Irrevocable and the Consequences it Carries
  3. Living vs. Testamentary Trusts
    10:45 - 11:30, Vivian Garrastegui
    1. When are Testamentary Trusts Used?
    2. Living vs. Testamentary Trusts for Tax Purposes
    3. Unique Funding and Administration Issues
    4. Key Provisions Review
  4. Marital/Disclaimer Trusts Post-ATRA
    11:30 - 12:15, Gregory Matalon
  5. Grantor Trusts
    1:15 - 2:00, Martin L. Lerner
    1. What are Grantor Trusts and What are They Used for?
    2. Should an Income Tax Return be Filed for a Grantor Trust
    3. Common Types of Grantor Trusts
    4. Internal Revenue Code Sections Determining Grantor Trusts Status
    5. Administrative Provisions Triggering Grantor Trust Status
    6. "Crummey" Powers and Notice of Withdrawal Rights
    7. Drafting Techniques and Tips
  6. IRA Trusts
    2:00 - 2:45, Gregory Matalon
    1. Inherited IRAs After Clark Decision
    2. IRA Trusts: Key Concepts and Design
    3. Conduit vs. Accumulation Trust
    4. Required Minimum Distributions Issues and Workarounds
    5. Sample Provisions
    6. Key Administration Challenges
  7. Medicaid-Planning Trusts
    3:00 - 3:45, Marc Alhonte
    1. Medicaid Eligibility in a Nutshell
    2. Asset Transfer Tactics
    3. Income-Only Trusts in Medicaid Planning
    4. How Non-Medicaid Trusts can Affect Benefits and Estate Recovery
  8. Supplemental Needs Trusts
    3:45 - 4:30, Marc Alhonte
    1. SNTs vs. ABLE Act Accounts
    2. Types of SNTs and Their Uses
    3. Tax Consequences and Benefits Preservation
    4. Allowable Expenses

Day 2

  1. Asset Protection Trusts: Domestic and Offshore
    9:00 - 9:50, K. Eli Akhavan
    1. Self-Settled Trusts in General
    2. Drafting the Spendthrift Provisions
    3. When to Use a DAPT
    4. Jurisdiction Issues and Comparison of Favorable Jurisdictions
    5. Tax Compliance and Reporting
    6. Using a Foreign Jurisdiction: Reasons and Methods
    7. Saving on State Income Tax with Delaware or Nevada Incomplete Non-Grantor Trusts (DINGs and NINGs) - IRS PLR 201430003-PLR 201430007
  2. Charitable Trusts
    9:50 - 10:40, K. Eli Akhavan
    1. Charitable Lead Trusts vs. Charitable Remainder Trusts
    2. Common CRT Structures (Stan CRUT, NIMCRUT, NICRUT, Flip CRUT, Flex CRUT, CRAT, etc.)
    3. Drafting Key CRT Provisions
    4. Tax Planning with Charitable Trusts
  3. Legal Ethics
    10:55 - 11:55, Alison A. Besunder
    1. Who is Your Client?
    2. Top Malpractice Risks in Trusts Practice
    3. Fiduciary Liability Considerations
    4. Avoiding Fraudulent Transfers
    5. Testator Capacity Issues
  4. Trust Decanting, Modification, Dissolution, and Constructive Trusts
    12:55 - 1:45, Monica P. Ruela and Stuart H. Schoenfeld
    1. Modification: Consent, Court, Decanting
    2. Termination: Consent, Court
    3. Constructive Trusts
  5. Gun/NFA Trusts
    1:45 - 2:35, Alison A. Besunder
    1. Key Firearms Designations and Restrictions
    2. Relevant Federal and State Gun Laws (Title I and Title II NFA, etc.)
    3. Docket No. ATF 41P and its Implications for Gun Trusts
    4. NFA Trust vs. a Simple Gift vs. Business Entity vs. Non-NFA Trust
    5. Unique Pre-Drafting Considerations
    6. Key Provisions Overview
  6. Tax Deduction with Trusts
    2:50 - 3:45, Robert S. Barnett
    1. Taxation of Trusts
    2. Accounting vs. Taxable Income
    3. Tax Consequences of Distributions
    4. 3.8% NIIT Surtax
    5. Accumulation Distribution for Some Complex Trusts
    6. The 2% Floor on Miscellaneous Itemized Deductions
    7. Material Participation by Trusts - Recent IRS Changes
    8. Tax Consequences of Trusts in Estate Administration
  7. Other Trust Structures and Issues
    3:45 - 4:30, Antar P. Jones
    1. Irrevocable Life Insurance Trusts
    2. Marital Trusts After ATRA
    3. QDOTs for Noncitizen Spouses
    4. Pet Trusts
    5. Smaller Estate Trusts
    6. Joint Exempt Step-Up Trusts (JESTs)

K. ELI AKHAVAN is a managing partner of the Akhavan Law Group LLP. He focuses his practice on domestic and international estate, asset protection and tax planning for high net-worth individuals and their families. Mr. Akhavan’s clients include executives, real estate owners and professionals, nursing home operators, professional athletes, entrepreneurs, owners of closely-held businesses, and hedge fund and private equity professionals. His practice also includes representing clients in federal and state tax audits. Mr. Akhavan is a widely published author, having written numerous articles for publications such as Trusts & Estates, Probate & Property and various other publications. Additionally, he frequently lectures before accountants and financial advisors on asset protection and estate planning topics and also serves as an adjunct professor at St. John's University School of Law teaching international taxation. He is an honors graduate of Columbia University and earned his J.D. degree and LL.M. degree in taxation from NYU School of Law. He is currently an active member of the American Bar Association's Section of Taxation, the Section of Real Property, Trust & Estate Law; and on the International Estate Planning Committee of the New York State Bar Association.

MARC ALHONTE is of counsel to the law firm of Karol & Sosnik, P.C. Mr. Alhonte practices in the area elder law. He is a member of the American Association of Retired Persons (AARP) referrals list for elder law, the Nassau County Bar Association and the New York State Bar Association. Mr. Alhonte earned his B.A. and J.D. degrees from the University of Buffalo and his M.A. degree from the University of Santa Monica.

ROBERT S. BARNETT is a partner in the law firm of Capell Barnett Matalon & Schoenfeld, LLP in New York, where he practices is the areas of of taxation, trusts, estates, corporate and partnership law, and charitable planning. His experience includes Surrogate’s Court practice, tax dispute resolution in both federal and state jurisdictions, and tax court representation. Mr. Barnett serves on the Nassau County Bar Association’s Academy of Law and is co-chair of the Tax Committee. He is the vice president and an Executive Board member of the Nassau Chapter of the New York State Society of CPAs. He earned his B.S. degree, magna cum laude, from Hofstra University; and his J.D. degree, cum laude, from the Fordham University School of Law.

ALISON A. BESUNDER is with Arden Besunder P.C., and has spent more than a decade practicing law in New York City. Ms. Besunder focuses her practice in the areas of trusts and estate planning, elder law, estate litigation, commercial litigation and intellectual property. Ms. Besunder is a member of the Trusts and Estates and Elder Law sections of the New York State Bar Association and the NYSBA Animals and the Law Committee. She is a member of the Suffolk County and Brooklyn bar associations. Ms. Besunder received her J.D. degree from Brooklyn Law School and her B.A. degree from SUNY Buffalo.

VIVIAN GARRASTEGUI is an attorney with Schneider & Garrastegui PLLC, where she has more than 28 years of experience in the areas of elder law; trusts and estates; Medicaid planning, Medicaid applications, and Medicaid fair hearings; probate and administration proceedings; all phases of contested and uncontested guardianship proceedings; and Social Security disability. Ms. Garrastegui is an OCA Part 36 list fiduciary and has been appointed as a court examiner, court evaluator, guardian, and attorney for the incapacitated person in guardianship proceedings by the Appellate Division of the First and Second departments. She is admitted to practice in New York and the U.S. District Court for the Southern and Eastern districts of New York. Ms. Garrastegui is a member of SWBEC; National Academy of Elder Law Attorneys; and the Suffolk County, Suffolk County Women's, New York State, and Nassau County bar associations. She earned her B.A. degree, cum laude, from Long Island University and her J.D. degree from Brooklyn Law School. She is fluent in Spanish.

ANTAR P. JONES is the founder of the Law Office of Antar P. Jones, PLLC, located in Brooklyn, New York. His practice concerns, among other things, advising fiduciaries and successful individuals concerning income and estate taxation matters. Mr. Jones' practice involves many complex post mortem taxation issues. In addition to having advised clients regarding insurance trusts, Mr. Jones has advised fiduciaries on taxation matters concerning how living trusts are taxed once the grantor has passed. Also, he has done extensive work concerning the annuity reporting requirements of qualified domestic trusts in addition to how specifically marital deductions operate with respect to such trusts where there is a foreign spouse from a country that has a tax treaty with the United States. Mr. Jones is a member of the New York State Bar Association, where he is active in the Estate and Trust Administration Committee of the Trusts and Estates Section. He received his LL.M degree in taxation from the graduate program in taxation at New York Law School and his J.D. degree from the New York Law School.

MARTIN L. LERNER presently serves of counsel to the firm of Akabas & Sproule. For the past 30 years, Mr. Lerner's practice has focused in the areas of wills, trusts and estates, personal tax planning, asset protection, organizing and tax planning for closely-held businesses, business succession planning, estate and probate administration, and post-mortem tax planning. He is a frequent lecturer on estate planning topics. Mr. Lerner is a member of the Real Property, Trust and Estate Law Section of the American Bar Association; and the Trusts and Estates Law Section of the New York State Bar Association. He is admitted to practice law in New York and California, as well as being a member of the State Bar of Wisconsin. Mr. Lerner earned his J.D. degree from the University of Wisconsin, Madison.

GREGORY MATALON is a partner with Capell Barnett Matalon & Schoenfeld, LLP, where he practices in the areas of estate planning, estate administration, elder law and not-for-profit and religious corporations law. Mr. Matalon also represents executors and trustees to navigate the complex federal and state laws impacting estates and trusts. He earned his B.A. degree from Skidmore College and his J.D. degree from Hofstra University School of Law.

DEBBY ROSENFELD is an attorney with Ronald Fatoullah & Associates, where she practices in the areas of elder law, estate planning and real estate. Since graduating law school, Ms. Rosenfeld has been a tax associate with Kaye, Scholer, Fierman, Hays & Handler; a senior tax advisor with Long Island Lighting Company; and had an elder law and estate planning practice through the creation of Berkowitz, Lewisohn & Rosenfeld. She lectures as well as writes articles on various elder law issues for both attorneys and laypeople. Ms. Rosenfeld earned her bachelor's degree at Barnard College of Columbia University and her law degree at New York University School of Law. She is a member of the New York State and Nassau County bar associations.

MONICA P. RUELA is an attorney with Capell Barnett Matalon & Schoenfeld, LLP, where she practices in the areas of elder law, Medicaid planning, guardianships, trusts and estates, estate planning, as well as trusts and estates administration. She is a member of the New York State Bar Association. Ms. Ruela earned her J.D. degree, cum laude, from Touro College Jacob D. Fuchsberg Law Center; and her B.A. degree, magna cum laude, from St. John’s University.

STUART H. SCHOENFELD is a partner with the law firm of Capell Barnett Matalon & Schoenfeld, LLP, where he practices in the areas of elder law and estate planning, business, corporate, and real estate transactions. Mr. Schoenfeld's extensive elder care and estate planning practice includes the preservation of assets for the benefit of chronically ill, developmentally delayed, and elderly individuals; planning and applying for Medicaid; guardianship proceedings; and supplemental needs planning. He is a member of the Board of Directors of the Rehabilitation Institute, which provides vocational, educational, and therapeutic services to individuals with disabilities. Mr. Schoenfeld earned his B.S. degree from Brandeis University and his J.D. degree from Hofstra University School of Law.

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Accreditation Details:

Continuing Legal Education

NY CLE: 14.00 Credit Approval Exp
Includes - Areas of Professional Practice: 13.00, Ethics: 1.00
This nontraditional format course has been approved in accordance with the requirements of the New York State Continuing Legal Education Board for up to 14.0 credit hours. 13.0 hours can be applied to the Areas of Professional Practice requirement and is approved for newly admitted and experienced attorneys. 1.0 hour can be applied toward the ethics and professionalism requirement and is approved for experienced attorneys.

PA CLE: 12.00 Credit Approval Exp
Includes - Ethics: 1.00
This program has been approved by the Pennsylvania Continuing Legal Education Board. This program may qualify for up to 12.0 hours of distance learning credit, including 11.0 hours of substantive law, practice and procedure CLE credit and 1.0 hour of ethics, professionalism or substance abuse distance learning CLE credit. No more than 6.0 hours of distance learning CLE credit may be earned during a reporting period.

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