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Trusts From A to Z LIVE Virtual Training

presented by NBI, Inc.

Trusts From A to Z

Full Description

Understand All the Wealth Planning Options Available to Your Clients

Planning your clients' financial future and legacy is diverse and complex, with a unique tool for every unique client situation. In this fast-paced comprehensive program, our faculty will guide you through the plethora of trust options and give you a straightforward, incisive analysis of when and how each can be used for maximum effect. Explore the goals, functions, administration hurdles, and tax implications of the top trusts in the practice. Choose the best tool for the job every time - register today!

  • Weigh all the pros and cons to select the best trust options for specific client situations.
  • Anticipate tax consequences of various trusts.
  • Use sample trust language our faculty provide to save drafting time and avoid mistakes.
  • Clarify the powers and duties of trustees in different trusts.
  • Compare living and testamentary trusts for straightforward estate planning.
  • Distinguish between accounting and taxable income and learn how trust income tax is reported.
  • Understand how recent tax laws changed the practice of marital trusts and learn when they are still useful.
  • Review common ethical missteps that can cost you your license - and how to avoid them.


All times are shown in Eastern time

  1. What are Trusts? Main Trust Principles
    8:30 - 9:00, Alan B. Frankle
    1. Trust Terms, Concepts and Definitions
    2. Key Parties in a Trust and Their Roles
    3. The Laws of Trust Creation and Administration (UTC, UPA, UPIA, etc.)
    4. Trust Revocability and its Implications
    5. Trust Funding Basics
    6. Creditor Rights in Regards to Trusts
    7. Does the Client Need a Trust?
  2. Simple Testamentary Trusts and Revocable Living Trusts
    9:00 - 9:30, Alan B. Frankle
    1. When are Testamentary Trusts Used?
    2. Living vs. Testamentary Trusts for Tax Purposes
    3. Trust Funding Mistakes and Consequences
    4. Top Trust Administration Issues
    5. Sample Trust Language
  3. Tax Reduction with Trusts
    9:30 - 10:15, Robb A. Longman
    1. Current State and Federal Tax Regime
    2. Taxation of Trusts: Transfer and Income
    3. Accounting vs. Taxable Income
    4. Tax Consequences of Distributions
    5. Tax Implications of a Trust Becoming Irrevocable
    6. Accumulation Distribution for Some Complex Trusts
    7. Material Participation by Trusts
    8. Tax Consequences of Trusts in Estate Administration
  4. Grantor Trusts
    10:30 - 11:15, Robert E. Ward
    1. Types of Grantor Trusts and When They are Used
    2. Intentionally Defective Grantor Trusts
    3. Tax Planning, Requirements and Consequences
    4. Trustee Powers and Duties
    5. Grantor Trust Status and Reporting
    6. Exceptions to the Rules
    7. Sample Trust Language
  5. Marital Trusts in a Nutshell
    11:15 - 12:00, Robert E. Ward
    1. When are Marital Trusts Used?
    2. Old AB/Credit Shelter Trusts After ATRA and Tax Cuts and Jobs Act
    3. Tax Planning, Requirements and Consequences
    4. Trustee Powers, Duties and Challenges
    5. Underfunded Trusts After First Death
    6. QDOTs for Noncitizen Spouses
    7. Exceptions to the Rules
    8. Handling Dysfunctional Client Families
    9. Sample Trust Language
  6. Special Needs Trusts (SNTs)
    1:00 - 1:30, Meghan E. McCulloch
    1. When are SNTs Used? (SNTs vs. ABLE Act Accounts)
    2. Types of SNTs
    3. Tax Consequences of SNTs
    4. Preserving Benefits Eligibility
    5. Trustee Powers and Duties (What Can the Distributions be Used for?)
    6. Sample Trust Language
  7. Generation Skipping/Dynasty Trusts
    1:30 - 2:15, Robb A. Longman
    1. GST Tax and Other Tax Considerations
    2. When are Dynasty Trusts Used?
    3. Trustee Powers and Duties and Administration Challenges
    4. Exceptions to the Rules
    5. Sample Trust Language
  8. Charitable Trusts
    2:30 - 3:00, Robb A. Longman
    1. When are Charitable Trusts Used?
    2. CRTs vs. CLTs
    3. Tax Planning, Requirements and Consequences
    4. Trustee Powers and Duties and Administration Issues
    5. Exceptions to the Rules
    6. Charitable Planning in Smaller Estates
    7. Sample Trust Language
  9. Other Trust Structures and Issues
    3:00 - 3:40, Laura Curry
    1. Minors' Trusts
    2. IRA Trusts
    3. Pet Trusts
    4. Medicaid Trusts
    5. Asset Protection Trusts
    6. Irrevocable Life Insurance Trusts
    7. Incomplete Non-Grantor Trusts
    8. Gun Trusts
    9. Trust Decanting, Modification and Dissolution
    10. Smaller Estate Trusts
    11. Constructive Trusts
  10. Legal Ethics
    3:40 - 4:40, Meghan E. McCulloch
    1. Who is Your Client? The Most Important Question in Trusts Practice
    2. Top Legal Malpractice Risks
    3. Testator Capacity Issues
    4. Dealing with Trust Beneficiaries
    5. Protecting Confidentiality
    6. Preventing Fiduciary Misconduct

Who Should Attend

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

  • Attorneys
  • Accountants and CPAs
  • Trust Officers
  • Tax Managers
  • Weal


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