Drafting Effective Wills and Trusts

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Detailed Overview/Outline

Benefits of Attending

Help Your Clients Meet Their Estate Planning Needs

People don't like to contemplate their own death, but they do need to consider what will happen to their assets when they die. Tax issues, medical decisions, and a wide range of planning documents make the process even more complicated. But you can give your clients peace of mind by creating effective wills and trusts that carry out all of their wishes.

This basic-level program will provide you with the fundamentals of preparing estate planning documents, including wills, trusts, and ancillary documents such as powers of attorney. Discover the pros and cons of using various types of documents, as well as the tax ramifications involved. Tackle the ethical issues related to estate planning, both from the attorney's perspective and from that of the client who must make end-of-life medical decisions.

• Choose the planning document that is best suited for your client.
• Provide protection for minors, incompetent persons, and beneficiaries with special needs.
• Learn how and when to use revocable living trust, pour-over wills, and durable powers of attorney.
• Make sure that your client's property qualifies for the marital deduction.
• Reduce your client's estate tax, gift tax and generation-skipping transfer tax.
• Use a living will or durable power of attorney for health care to help the client control end-of-life medical decisions.
• Handle ethical issues that arise in estate planning, such as competency of the client and conflicts of interest.

Agenda

FUNDAMENTAL PRINCIPLES OF WILL DRAFTING

• Checklist for Gathering Client Information
• The Statutory ABCs: What is Required?
• Fiduciary Issues
• Disinheritance and No Contest Clauses - Will They Stand?
• Protective Clauses for Minors and Incompetent Persons
• Building Flexibility Into the Plan - Checklist of Special Provisions
• Practical Pointers With Sample Forms

USING LIVING TRUSTS AND POWERS OF ATTORNEY AS ESTATE PLANNING TOOLS

• Common Elements in Trust Agreements
• The Revocable Living Trust - Advantages and Disadvantages
• Sample Pour-Over Will and Living Trust Agreements

DURABLE POWERS OF ATTORNEY

• What to Include and What to Omit? - A Sample Checklist
• Limited Powers of Attorney vs. General Powers of Attorney
• To Whom Is the Agent Accountable?
• Tax Considerations of Drafting Living or Testamentary Trusts
• Marital Deduction Planning - Qualifications and Basic Formula Approaches

BASIC TAX CONSIDERATIONS -- WHAT YOU NEED TO KNOW IN ORDER TO CHOOSE THE APPROPRIATE PLAN

• Estate and Gift Taxes
• Generation-Skipping Transfer Taxes
• Income Tax - Ramifications of Trusts

ETHICS AND ESTATE PLANNING

• Selected Ethical Rules Affecting the Estate Planner
• Who's Your Client? Conflict of Interest
• Competency - A Word to the Wise
• Practice Before the IRS
• Attorney Fees

PLANNING METHODS TO CONTROL MEDICAL TREATMENT

• What an Advance Medical Directive Can and Cannot Accomplish
• Who Would You Name as Your Agent
• Vary From the Statute or Not?
• Statutory Form Detailed
• Sample Provisions if You Do Vary From Statutory Form
• Picking Up Where a Living Will Ends - Durable Powers of Attorney for Health Care/Health Care Proxy
• Preserving Your Client's Dignity Through the Patient Self-Determination Act
• Anatomical Gifts - Making the Difficult Decisions During Life and Upon Death

This program is designed to qualify for 7.0 hours (based on 50 minute credit hour) of continuing professional education credit for accountants.

Who Should Attend
This basic-level seminar is for attorneys who have little or no experience drafting wills and trusts, as well as paralegals, trust officers and accountants. This is a basic-level program. No advanced preparation or prerequisites are required. Field(s) of Study -- Regulatory Ethics; Taxation.

Times

Registration: 8:30-9:00 a.m.

Start: 9:00 a.m.

Stop: 4:30 p.m.

Sponsor Background:
About NBI

National Business Institute

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National Business Institute (NBI) has been providing legal education to attorneys, accountants, human resource and insurance professionals, real estate agents, teachers and all other corporate and legal professionals for over 20 years. We have trained on every legal topic relevant to the workplace and have access to the most comprehensive library of training tools in the industry.

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Register today at no risk. If your plans change later and you can’t attend the program, you may substitute another person at any time, transfer your registration to any future seminar, purchase the manual and audio recording, or cancel your registration without penalty. Just call and let us know.

SATISFACTION GUARANTEE

If you aren't happy, we aren't either! Your tuition will be refunded if you are not satisfied with the seminar for any reason.

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