Live Seminar

Using Trusts in Estate Planning and Asset Protection

Seminar

Date:

2 Day Seminar
Wednesday, November 28, 2018 -
Thursday, November 29, 2018

Time:

November 28 - 9:00 AM - 4:30 PM
November 29 - 9:00 AM - 4:30 PM

Product ID#:

80597ER

Location:

Embassy Suites by Hilton Boston at Logan Airport

207 Porter Street

Boston, MA 02128

$575.00

$565 / Each Additional

Registration Includes Course Book

Credit Information

CPE for Accountants

  • CPE for Accountants/NASBA - 14.00

Other

  • IACET - 1.20
  • PACE - 14.00

Program Description

Successfully Handle Your Client's Trust Needs

The wide array of trusts available, combined with the numerous issues clients can bring to the table, can make choosing and using the right tool a daunting task - but it doesn't have to be. This insightful, two-day seminar will guide you through how to effectively use trusts for estate planning and asset protection. Explore a variety of planning tools that will help you tailor a trust that fits your client's specific situation. Don't miss this opportunity to make sure your trusts are thoroughly on point - register today!

  • Find out how to select the best trust option for each unique situation.
  • Protect retirement accounts with the use of IRA trusts.
  • Use trusts to help clients qualify for Medicaid while protecting their assets.
  • Discover ways to structure special needs trusts so beneficiaries still qualify for public benefits.
  • Learn how to minimize your client's tax burdens with the use of defective trusts.
  • Properly handle the administration of a trust.
  • Clarify who your client is to avoid conflicts of interest and other ethical violations.

Who Should Attend

This basic-to-intermediate level seminar is designed for professionals involved in structuring and administering trusts:

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

Course Content

Day 1

  1. Trust Overview
  2. Determining Which Trust to Use
  3. Grantor Trusts: When and How to Use Them
  4. IRA Trusts: Protecting Retirement Accounts
  5. Using Trusts to Qualify for Medicaid
  6. Charitable Trusts: Setting Aside Assets and Tax Planning

Day 2

  1. Special Needs Trusts: Planning for Disabled Beneficiaries
  2. Asset Protection Focus: Analysis and Tools
  3. Using Irrevocable Life Insurance Trusts (ILITs)
  4. Tax Planning with Trusts
  5. Administering Trusts
  6. Making Changes to Trusts
  7. Remaining Ethically Compliant

Continuing Education Credit

International Association for Continuing Education Training – IACET: 1.20

National Association of State Boards of Accountancy – CPE for Accountants/NASBA: 14.00 *

Professional Achievement in Continuing Education – PACE: 14.00


* denotes specialty credits

Agenda / Content Covered

Day 1

  1. Trust Overview
    9:00 - 10:00, Julie Low
    1. Key Terms and Legal Concepts
    2. Laws of Trust Drafting and Administration
    3. Current State and Federal Tax Update
  2. Determining Which Trust to Use
    10:00 - 11:00, Eileen Y. Lee Breger
    1. Establishing/Limiting Grantor Control in Revocable vs. Irrevocable Trusts
    2. Choosing Between Living and Testamentary Trusts
    3. Predicting Tax Effects of Trusts
    4. Planning for Distinctive Funding and Administration Issues
  3. Grantor Trusts: When and How to Use Them
    11:15 - 12:15, Nancy Kelleigh
    1. Choosing the Type of Grantor Trust That Best Fits Your Client's Case
    2. Securing Grantor Trust Status and Turning it on and off
    3. Intentionally Defective Grantor Trusts (IDGTs): How to Avoid Unforeseen Tax Consequences
    4. Crafting Well-Planned Terms - Sample Trust Provisions
  4. IRA Trusts: Protecting Retirement Accounts
    1:15 - 2:15, Julie Low
    1. IRA Trusts: Key Concepts, Design and Benefits
    2. Setting up the Trustee - Key Roles and Duties
    3. Establishing Necessary Subtrusts
    4. Permitted Tax Exemptions
    5. Required Minimum Distribution Issues and Workarounds
    6. Addressing Administration Challenges
    7. Sample Provisions
  5. Using Trusts to Qualify for Medicaid
    2:15 - 3:15, Todd E. Lutsky
    1. Identifying Exempt and Non-Exempt Assets
    2. Complying with Medicaid Eligibility and Look-back Periods
    3. How Asset Transfer Tactics Work
    4. How Other Trusts can Affect Benefits and Eligibility
    5. Taxes and Medicaid Trusts
  6. Charitable Trusts: Setting Aside Assets and Tax Planning
    3:30 - 4:30, Deborah Danger

Day 2

  1. Special Needs Trusts: Planning for Disabled Beneficiaries
    9:00 - 10:00, Faith E. Delaney
    1. SNTs vs. ABLE Act Accounts
    2. Using the Right SNT for Your Client's Situation
    3. How to Minimize Tax Implications
    4. Preserving Benefits
    5. Maximizing Allowable Expenses
    6. How to Structure Key Provisions (w/Examples)
  2. Asset Protection Focus: Analysis and Tools
    10:00 - 10:45, Jason G. Happel
    1. Risk Analysis and Planning Tools
    2. Protection Planning for Families
    3. Protection Planning for Businesses and Professionals
  3. Using Irrevocable Life Insurance Trusts (ILITs)
    11:00 - 11:45, Stephen K. Withers Jr.
  4. Tax Planning with Trusts
    12:45 - 1:45, Lauren E. Jones
    1. Update on Tax Changes
    2. Identifying Accounting vs. Taxable Income
    3. Assessing Tax Consequences of Distributions
    4. Minimizing Tax Penalties for Trusts in Estate Administration
  5. Administering Trusts
    1:45 - 2:30, Anna M. Corti
    1. Funding and Executing the Trust: Identifying and Documenting Property
    2. Using the Power to Direct and Delegate
    3. Investing Trust Assets
    4. Trustees and Beneficiaries: Disclosures, Notices, Consents, Conflicts
    5. Handling Annual Tax Reporting and Complying with Tax Laws
    6. Allocating Principal and Income
    7. Ensuring the Trustee Does His/Her Job
    8. Managing Distributions
    9. Authorization and Disbursement of Fees and Expenses
  6. Making Changes to Trusts
    2:45 - 3:30, Stephen K. Withers Jr.
    1. Gaining Consent of the Beneficiaries
    2. Obtaining Court Approval
    3. Decanting: Transferring Assets to Another Trust
  7. Remaining Ethically Compliant
    3:30 - 4:30, Deborah Danger and Annika Bockius-Suwyn
    1. Clarifying Who the Client is
    2. Avoiding Malpractice Risks
    3. Fiduciary Liability Considerations
    4. Preventing Fraudulent Transfers From Occurring
    5. Identifying and Addressing Testator Capacity Concerns

ANNIKA BOCKIUS-SUWYN is an attorney with DangerLaw, LLC in Newton, Massachusetts. Ms. Bockius-Suwyn focuses her practice on diverse areas of family law, including assisted reproductive technology (ART), mediation, and the evolving rights of LGBTQ families. She received her B.A. degree from Swarthmore College and her J.D. degree from Boston University School of Law. Ms. Bockius-Suwyn is admitted to the bar in the Commonwealth of Massachusetts and an active member of the Massachusetts LGBTQ Bar Association.

ANNA M. CORTI is a partner in the law firm of Kerstein Coren & Lichtenstein LLP, in Wellesley, Massachusetts. Ms. Corti practices in the areas of estate planning, estate tax planning, and trust and estate administration. In particular, she is well-versed in post mortem techniques, specifically qualified disclaimers, as a means of reducing estate taxes. She routinely prepares wills, trusts, durable powers of attorney, health care proxies, living wills, medical directives, homestead declarations, probate accounts, and estate and gift tax returns at both the federal and the state level. Ms. Corti received her B.A. degree from Union College - Schenectady, New York and her J.D. and LL.M. degrees from Boston University School of Law. She is a member of the Massachusetts Bar Association and the National Academy of Elder Law Attorneys. (NAELA)

DEBORAH DANGER is the founder and owner of DangerLaw, LLC, in Newton, Massachusetts. Ms. Danger practices in the areas asset protection within the realms of estate tax planning and divorce. Within the field of estate planning, she concentrates on wills, trusts, gifting, closely-held business succession planning, and the preservation of family assets and vacation homes. Within the field of divorce, Ms. Danger concentrates on asset division, alimony, child support, and enforcing existing separation agreements and court orders. She received her B.S.B.A. degree from Georgetown University, her M.B.A. degree from Babson College FW Olin Graduate School of Business, her J.D. degree from Suffolk University School of Law and her LL.M. degree from Georgetown University Law Center.

FAITH E. DELANEY opened her estate planning and elder law practice in 2004, after having worked in other estate planning firms. She is a member of the National Academy of Elder Law Attorneys (Massachusetts and New Hampshire chapters), the Massachusetts Bar Association, Merrimack Valley Estate Planning Council, the New Hampshire Bar Association and the Elder Services of the Merrimack Valley Advisory Board. Ms. Delaney received her J.D. degree from Northeastern University School of Law.

JASON G. HAPPEL is an attorney with Sullivan & Clark, Attorneys at Law, in Melrose, Massachusetts, where he focuses on probate, estate planning, real estate, and small businesses. Mr. Happel has served on boards of directors for small businesses and nonprofit organizations. He received his degrees from the University of Maine, and the Massachusetts School of Law. He is a member of the Massachusetts Bar Association and the Benefit Company Bar Association.

LAUREN E. JONES is an attorney in Holland & Knight LLP at the Boston office and a member of the firm's private wealth services group. Ms. Jones concentrates her practice on domestic and international tax and estate planning for high-net-worth individuals and families. She advises domestic and international clients on a wide range of tax and estate planning matters, including U.S. gift, estate and generation-skipping transfer tax planning, pre-immigration and expatriation planning, structuring inbound and outbound investments, as well as U.S. tax and information reporting. Ms. Jones received her A.B. degree from Harvard College and her J.D. degree from Cornell Law School. She is admitted to practice in Connecticut, Massachusetts and New York.

NANCY KELLEIGH is an attorney with Kelleigh Law Office, in Hopkinton, where her primary areas of practice include estate planning and estate administration. Client education is a priority for Ms. Kelleigh, who believes “If you can’t explain it simply, you don’t understand it well enough.” She has taught "Taxation of Trusts" with the Foundation for Continuing Education and she presented at National Business Institute - Accountant’s Guide to Grantor Trusts - Managing Distributions. Ms. Kelleigh earned her undergraduate degree from Cornell University, College of Arts & Sciences; her J.D. degree from New England School of Law; and her LL.M degree in taxation from Boston University School of Law.

EILEEN Y. LEE BREGER is an attorney at Bowditch & Dewey, LLP, with offices in Worcester, Framingham and Boston. Ms. Lee Breger assists a wide variety of clients on estate planning, tax strategies, succession planning, estate settlement, and trust administration matters. She also advises families with planning for special needs beneficiaries and with long-term care planning. Ms. Lee Breger earned her B.A. degree from Vassar College and her J.D. degree from Boston College Law School.

JULIE LOW is the owner and founder of the Law Office of Julie Low, PLLC, in Beverly, Massachusetts. Ms. Low practices in the areas of elder law/Medicaid planning, veterans benefits, special needs planning, estate planning, guardianships/conservatorships, planning for children, pet trusts, and probate and estate administration. She received her B.S. degree from The Ohio State University and her J.D. degree from Western New England College School of Law. Ms. Low is a member of the National Academy of Elder Law Attorneys, the Academy of Special Needs Planners, ElderCounsel, WealthCounsel, ElderLaw Answers, Veterans Information Services, Inc., Elder Care Matters Alliance, Essex County Estate Planning Council, the Massachusetts Bar Association, and the Essex County Bar Association.

TODD E. LUTSKY joined Cushing & Dolan, P.C., in 1995 and his practice includes all aspects of estate planning from basic to sophisticated techniques, asset protection planning, trust planning, elder law, and all aspects of Medicaid application preparation and eligibility matters. Mr. Lutsky is a member of the National Academy of Elder Law Attorneys and the Boston Estate Planning Council, and is co-founder of the Boston Chapter of the National Aging in Place Council. He was also named Five Star Wealth Manager in 2015 and 2016. Mr. Lutsky was recently appointed lecturer in law at the Boston University Law School Graduate Tax Program. In 2013, he was given the opportunity to host his own radio show called, "The Legal Exchange with Todd Lutsky," a talk show that allows him a format to provide a more in-depth discussion on all the estate and asset protection planning, and elder law. Mr. Lutsky is a regular speaker for Massachusetts Continuing Legal Education, the Foundation for Continuing Education, Massachusetts Association of Accountants, the Mass Society of Enrolled Agents, the Massachusetts Chapter of National Academy of Elder Law attorneys, and several other organization and associations.

STEPHEN K. WITHERS JR. is a partner in the law firm of Coogan Smith, LLP, in Attleboro, Massachusetts, whose practice covers a wide-range of legal fields, and focuses primarily in estate planning and administration, probate law, real estate, and small business and non-profit organizations. He is a member of the Attleboro Area, Bristol County and Massachusetts bar associations. Mr. Withers earned his B.A. degree, cum laude, from the College of the Holy Cross and his J.D. degree from Northeastern School of Law.

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:

International Association for Continuing Education Training

Credit Logo
N IACET: 1.20
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 1.20 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. List two key terms used in a trust. 2. Distinguish between revocable and irrevocable trusts. 3. State two types of grantor trusts. 4. List two benefits of setting up an IRA trust. 5. Name two requirements to qualify for Medicaid. 6. Restate from recall how a trust can be used to set aside assets for a charity. 7. Compare SNTs to ABLE accounts. 8. Explain when a DAPT should be used. 9. Explain what an ILIT is. 10. List two ways to minimize tax penalties for trusts. 11. State two ways the trust can be funded. 12. Explain when and how to transfer assets from one trust to another. 13. Distinguish between ethical and unethical practices.

National Association of State Boards of Accountancy

Credit Logo
N NAS: 14.00 Includes - Regulatory Ethics: 1.00, Specialized Knowledge: 2.00, Taxes: 11.00
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 14.0 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 to Intermediate level program presented in a group live setting. Accountants should have a basic understanding of estate planning and asset protection. Upon completion of this course, attendee will be able to: 1. List two key terms used in a trust. 2. Distinguish between revocable and irrevocable trusts. 3. State two types of grantor trusts. 4. List two benefits of setting up an IRA trust. 5. Name two requirements to qualify for Medicaid. 6. Restate from recall how a trust can be used to set aside assets for a charity. 7. Compare SNTs to ABLE accounts. 8. Explain when a DAPT should be used. 9. Explain what an ILIT is. 10. List two ways to minimize tax penalties for trusts. 11. State two ways the trust can be funded. 12. Explain when and how to transfer assets from one trust to another. 13. Distinguish between ethical and unethical practices. Field(s) of Study -- Taxes; Regulatory Ethics; Specialized Knowledge.

Professional Achievement in Continuing Education

N PACE: 14.00
This seminar qualifies for 14.0 PACE (Professional Achievement in Continuing Education) credit hours for CASL and/or ChFC.


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