Draft Wills Tailored to Your Clients' Unique Situations and Goals
A well-drafted will is an instrumental part of any estate plan. Without one, a decedent's estate will be left to the mercy of probate court; on the other hand, an ill-thought-out or ambiguous will can tear families apart and result in unintentional disinheritance. Do you know how to develop a solid document that meets your client's individual needs while also reducing taxes and avoiding future issues? In this focused program, seasoned faculty will provide you with practical tips and real-world insight on drafting wills. Clarify your client's individual goals and walk through every key provision to ensure they're carried out without a hitch - register today!
- Learn how to match an individual client's needs and goals with the right planning tool.
- Ensure the will is valid: take steps on the front end to avoid questions of capacity or undue influence.
- Set proper beneficiary designations to avoid probate and guarantee a smooth, quick transfer of assets upon death.
- Develop a plan that mitigates capital gains taxes and other tax consequences.
- Help designate an appropriate fiduciary that can implement the plan as intended while preventing conflicts with beneficiaries.
- Create a solid plan on distributions to ensure that asset transfers are carried out without any issue.
10:00 am to 5:00 pm Eastern Standard Time
- Client Intake and Choice of Planning Tools
10:00 - 10:30, Jennifer R. Heinz
- Assessing Client's Current and Projected Financial State
- Clarifying Client Goals, Family Dynamics and Future Medical Costs
- Governing Law, Jurisdiction, Judicial Oversight
- Tax Consequences of Various Estate Planning Options
- Will vs. Revocable Trust
- Proper Will Execution and Asset Titling
- Verifying Testator Capacity and Preventing Undue Influence
10:30 - 11:00, George S. Peek
- Identifying Types of Capacity
- Clarifying the Threshold: What the Testator is Expected to be Able to Understand and Do
- Ensuring/Documenting Testamentary Capacity at Signing of the Will: Key Questions to Ask
- Using the Will as Evidence of Lost Capacity (Assessing Reasonableness of Provisions)
- Preventing Undue Influence: Definition, Signs, Prevention
- Fact and Expert Witnesses: When and How to Use Them
- Drafting Spousal Share Provisions: Non-Tax Considerations
11:15 - 11:45, John R. Bedosky
- Determining Beneficiary Designations
11:45 - 12:15, George S. Peek
- Tax Considerations
12:45 - 1:45, John R. Bedosky
- Portability: DSUE Election on 706 and the Dangers of Solely Relying on Portability
- Capital Gains Tax Planning
- Income Tax Reduction
- Planning for Estate Tax Inclusion in Order to Get Step Up in Basis
- Transfers to the Spouse
- Laying out Fiduciary Duties and Powers
1:45 - 2:30, Kenneth J. Peace
- Designating Primary and Replacement Executors
- Will Provisions Granting Fiduciary Power and the Implications of Specific Language
- Power of Appointment
- Distribution Provisions: Planning out Asset Transfers Impeccably
2:30 - 3:00, Kenneth J. Peace
- Employing Key Methods to Control Medical Treatment
3:15 - 4:00, Jennifer R. Heinz
- Advance Directives/Medical POAs
- End of Life Decisions
- Legal Ethics
4:00 - 5:00, Jennifer R. Heinz
- Mental Capacity of Clients
- Attorney Fees, Engagement Agreements, and Client Trust Accounts
- Attorney Fiduciary Duty
- Protecting Client Confidentiality
- Conflicts of Interest and Client Family Dynamics
This program is designed for attorneys. It may also benefit trust officers, accountants, tax professionals, and paralegals.