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Wills: The Ultimate Guide

presented by NBI, Inc.
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Summary

Wills: The Ultimate Guide

Workshop Description/Agenda

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.

Agenda

10:00 am to 5:00 pm Eastern Standard Time

  1. Client Intake and Choice of Planning Tools
    10:00 - 10:30, Jennifer R. Heinz
    1. Assessing Client's Current and Projected Financial State
    2. Clarifying Client Goals, Family Dynamics and Future Medical Costs
    3. Governing Law, Jurisdiction, Judicial Oversight
    4. Tax Consequences of Various Estate Planning Options
    5. Will vs. Revocable Trust
    6. Proper Will Execution and Asset Titling
  2. Verifying Testator Capacity and Preventing Undue Influence
    10:30 - 11:00, George S. Peek
    1. Identifying Types of Capacity
    2. Clarifying the Threshold: What the Testator is Expected to be Able to Understand and Do
    3. Ensuring/Documenting Testamentary Capacity at Signing of the Will: Key Questions to Ask
    4. Using the Will as Evidence of Lost Capacity (Assessing Reasonableness of Provisions)
    5. Preventing Undue Influence: Definition, Signs, Prevention
    6. Fact and Expert Witnesses: When and How to Use Them
  3. Drafting Spousal Share Provisions: Non-Tax Considerations
    11:15 - 11:45, John R. Bedosky
  4. Determining Beneficiary Designations
    11:45 - 12:15, George S. Peek
  5. Tax Considerations
    12:45 - 1:45, John R. Bedosky
    1. Portability: DSUE Election on 706 and the Dangers of Solely Relying on Portability
    2. Capital Gains Tax Planning
    3. Income Tax Reduction
    4. Planning for Estate Tax Inclusion in Order to Get Step Up in Basis
    5. Transfers to the Spouse
  6. Laying out Fiduciary Duties and Powers
    1:45 - 2:30, Kenneth J. Peace
    1. Designating Primary and Replacement Executors
    2. Will Provisions Granting Fiduciary Power and the Implications of Specific Language
    3. Power of Appointment
  7. Distribution Provisions: Planning out Asset Transfers Impeccably
    2:30 - 3:00, Kenneth J. Peace
  8. Employing Key Methods to Control Medical Treatment
    3:15 - 4:00, Jennifer R. Heinz
    1. Advance Directives/Medical POAs
    2. End of Life Decisions
  9. Legal Ethics
    4:00 - 5:00, Jennifer R. Heinz
    1. Mental Capacity of Clients
    2. Attorney Fees, Engagement Agreements, and Client Trust Accounts
    3. Attorney Fiduciary Duty
    4. Protecting Client Confidentiality
    5. Conflicts of Interest and Client Family Dynamics

Who Should Attend

This program is designed for attorneys. It may also benefit trust officers, accountants, tax professionals, and paralegals.

Additional Information

Training Provider: NBI, Inc.

Course Topics: Law Training > Asset Protection/Estate Planning

Training Course Summary: Wills: The Ultimate Guide


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