Live Seminar

Trusts: The Ultimate Guide

Seminar

Date:

Monday, April 23, 2018

Time:

9:00 AM - 4:30 PM

Product ID#:

80098ER

Location:

University of Arkansas RCED - Walton Conference Hub

Donald W. Reynolds Center

Fayetteville, AR 72701

$349.00

$339 / Each Additional

$329 / New Professional

Registration Includes Course Book

Credit Information

Continuing Legal Education

  • AR CLE - 6.00

CPE for Accountants

  • CPE for Accountants/NASBA - 7.00

Other

  • IACET - 0.60
  • PACE - 7.00

Program Description

Make the Best Use of Today's Top Trusts

We've built off our top "Trusts 101" course to give you even more unique trust 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. Register today!

  • Get an update on the current laws and tax regs governing the trusts practice.
  • Analyze all key factors in selecting the best trust option for each unique situation.
  • Learn when and how IRA trusts are used.
  • Define powers and duties of all trust parties to smooth implementation and prevent disputes.
  • Save drafting time with sample trust language.
  • Minimize your client's tax burdens with effective use of trusts.

Who Should Attend

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

  • Attorneys
  • Accountants and CPAs
  • Trust Officers
  • Tax Professionals
  • Tax Managers
  • Wealth Managers
  • Nursing Home Administrators
  • Paralegals

Course Content

  1. Key Parties, Terms, Legal Concepts
  2. Revocable vs. Irrevocable and Revocable to Irrevocable
  3. Living vs. Testamentary Trusts
  4. Grantor Trusts
  5. IRA Trusts
  6. Medicaid-Planning Trusts
  7. Tax Deduction With Trusts

Continuing Education Credit

Continuing Legal Education – CLE: 6.00

International Association for Continuing Education Training – IACET: 0.60

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

Professional Achievement in Continuing Education – PACE: 7.00


* denotes specialty credits

Agenda / Content Covered

  1. Key Parties, Terms, Legal Concepts
    9:00 - 9:45, Edwin N. McClure
    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, Edwin N. McClure
    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, Edwin N. McClure
    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. Grantor Trusts
    11:30 - 12:15, Michael D. Collins
    1. Types of Grantor Trusts and Their Uses
    2. Securing Grantor Trust Status
    3. Grantor Trust Taxation
    4. Trustee Powers and Duties
    5. "Intentionally Defective" Language
    6. Sample Trust Provisions Review
  5. IRA Trusts
    1:15 - 2:15, Tyler Squires
    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
  6. Medicaid-Planning Trusts
    2:30 - 3:30, Tyler Squires
    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
  7. Tax Deduction With Trusts
    3:30 - 4:30, Scott M. Lar
    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

MICHAEL D. COLLINS is a sole-practitioner in Fort Smith, Arkansas, where he practices in the areas of estate planning, tax law, and business law. He is a member of the state bar associations of Oklahoma and Arkansas, and is admitted to practice in Arkansas, Illinois, Missouri, and Oklahoma. Mr. Collins earned his B.S. degree from East Central University, his J.D. degree from the University of Oklahoma, and his LL.M. degree in taxation from Washington University in St. Louis.

SCOTT M. LAR is an attorney with Quattlebaum, Grooms & Tull PLLC, in Springdale. He maintains a transactional and taxation practice, which primarily focuses on mergers and acquisitions, taxation and tax planning, federal and state tax audits, tax litigation, corporate transactions, and estate planning, including probate and trust administration. Mr. Lar represents clients across the state of Arkansas in reorganizations, as well as equity and asset acquisitions; structuring like-kind exchanges; and federal income and transfer tax audits, as well as state income and sales and use tax audits. He has also represented clients before the Internal Revenue Service appeals division, as well as the United States Tax Court in a variety of tax disputes and litigation. Mr. Lar is experienced in federal gift, estate, and generation-skipping transfer tax planning and tailoring estate plans to meet the needs of his clients. His experience also includes the formation of business entities, as well as counseling those clients on general business and corporate taxation; private lender financing arrangements; and the use of employment agreements, non-competes and confidentiality agreements. He has a Master of Laws degree in taxation from the University of Florida. Prior to receiving his LL.M. degree, Mr. Lar earned his J.D. degree, with honors, and his B.S.B.A. degree in accounting from the University of Arkansas School of Law and Sam M. Walton College of Business, respectively. Mr. Lar is licensed to practice in Arkansas and the United States Tax Court.

EDWIN N. McCLURE is a partner in the Arkansas law firm of Matthews, Campbell, Rhoads, McClure & Thompson, P.A., where he practices in the areas of criminal defense law, landlord/tenant law, and probate law. Mr. McClure has spoken extensively on topics related to his areas of practice. He earned his B.A. degree, cum laude, from Simpson College and his J.D. degree from the University of Arkansas. Mr. McClure is a member of the Benton County (past president), Arkansas (former member of House of Delegates and Board of Governors), and American bar associations. He is admitted to the Arkansas, Missouri and New York bars.

TYLER SQUIRES is an attorney at Allen Squires Law, PLLC, where he provides representation in the areas of estate planning, probate, long term care, business organizations, and tax law. He received his B.A. degree from Drury University and his J.D. degree from the University of Arkansas School of Law. Mr. Squires is licensed in both Oklahoma and Arkansas.

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

AR CLE: 6.00
NBI, Inc. is an accredited sponsor in the state of Arkansas. This program is approved for 6.0 hours of continuing legal education credit, including 0.0 hour of ethics, consistent with the rules and regulations of the Arkansas Supreme Court of Professional Programs.


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, attendees should be able to: 1. Identify key parties in a trust. 2. Distinguish between revocable and irrevocable trusts. 3. Compare testamentary and living trusts for tax purposes. 4. Recall when and why "intentionally defective" grantor trusts are used. 5. Compare conduit vs. accumulation IRA trust. 6. Restate Medicaid eligibility criteria. 7. Explain when 3.8% NIIT tax applies.

National Association of State Boards of Accountancy

N NAS: 7.00 Includes - Specialized Knowledge: 3.00, 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. Accountants should have a basic understanding of trusts. This course will: 1. Identify key parties in a trust. 2. Compare conduit vs. accumulation IRA trust. 3. Restate Medicaid eligibility criteria. 4. Compare SNTs to ABLE accounts. 5. List two types of charitable trust. 6. Distinguish between ethical and unethical practices. 7. Explain when 3.8% NIIT tax applies. No advanced preparation or prerequisites are required. Field(s) of Study -- Specialized Knowledge; Taxes.

Professional Achievement in Continuing Education

N PACE: 7.00
This seminar qualifies for 7.0 PACE (Professional Achievement in Continuing Education) credit hours for ChFC.


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How To Order

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