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Tax4.67Tax Basis in Probate
Understanding the concept of tax basis and the stepped-up basis rule is essential for every attorney handling trusts and estates cases, especially new attorneys. Master these principles to help your clients maximize the tax benefits of inherited assets and ensure a smooth transition of wealth to the next generation. Register today! Clarify the role of tax basis in the transfer of assets from decedent to beneficiaries. Prevent mistakes in calculating stepped-up basis (consider IRD and other exceptions and special rules!). Avoid serious tax consequences for failure to correctly report the stepped-up basis.
Recorded April 22, 2025.OnDemand1 hour 28 minutes
Best SellerTrusts4.76Mega Gifts in Anticipation of Estate Tax Exemption Sunset in 2025
The current sky-high gift tax exclusion amount that is slated to end in 2025 creates a once-in-a-lifetime opportunity for affluent clients to save on intra-vivos transfers if they act fast. But many are reluctant to shift their wealth to the next generation with no controls. This strategic briefing outlines practical solutions to taking advantage of this time-sensitive tax-saving technique while controlling risk and future distributions. Determine who can benefit, how to execute the gifts and keep IRS reporting beyond reproach, and create planning solutions beyond outright gifts. Help your clients succeed - register today!
Recorded April 17, 2025.OnDemand 58 minutes
Trusts4.28Harnessing the Synergetic Power of LLCs and IRAs
Combined IRA/LLC structures are a popular real estate investment tool because of the flexibility and ease of use they afford. But setting up and operating this structure requires meticulous attention to detail and adherence to the rules. This focused legal course offers you instructions for executing it effectively. Hone your skills - register today! Get an update on the latest IRA creation and administration rules. Tailor LLC operating agreements to work in tandem with SDIRAs. Analyze the ins and outs of using IRA/LLC structures to invest in real estate. Understand the tax aspects of LLC/IRA structures.
Recorded April 24, 2025.OnDemand2 hours 57 minutes
Elder LawLeveraging the Power of Trusts in Medicaid and Disability Planning
Medicaid planning is complex, and specialized trusts can help clients fulfill requirements to fund nursing home care without leaving their family in financial distress. This legal guide offers sample drafting language and expert advice on preserving benefits, maximizing asset protection, and preventing tax disasters. Refine your skills - enroll today! Improve your client intake to determine when a trust is prudent and beneficial. Draft better Medicaid trusts with sample provisions and language advice for specific scenarios. Refine your post-drafting practices to improve the effectiveness of trusts. Ensure meticulous tax reporting and distributions control in every trust. Discover how to make last-minute adjustments when nursing home need is urgent. Tackle practice-specific legal ethics issues and adopt best practices.
Live Online + OnDemandMay 23, 2:00 PM
Best SellerTaxNavigating Tax Issues in Probate: A Guide for Non-Tax Specialists
Are you confident in your ability to manage the tax liability of the decedent and the estate, plan for the tax implications of all probate actions, and ensure all the necessary tax returns are completed accurately and on time? Enhance your probate tax skills - register today! Stay up to date on the current tax rates, exemptions, and deductions. Discuss when, why, and how to record the value of the assets for tax purposes. Make the best use of the tax savings that charitable giving affords. Hear practical tips for impeccable tax returns.
Live Online + OnDemandMay 27, 2:00 PM
TaxFastTrackCorporate Taxes and Tariffs Update
The new administration's corporate tax and tariff policies are affecting every aspect of your clients' business. This urgent legal update is designed to get you up to speed on the latest trends and restrictions. Get short-term forecast and long-term outlook for tax planning tactics and legal and financial implications of tariffs for companies both domestic and international. Don't miss out on these critical updates - enroll today! Identify the latest legislative and regulatory changes impacting corporate tax obligations. Analyze the current tariffs system and its implications for trade and business operations. Recognize the impact of recent developments on nonprofit business taxation and compliance. Advise clients on operating in the climate of regulatory uncertainty.
Live Online + OnDemandMay 22, 4:00 PM
TrustsFastTrack4.71Individual Wealth, Trusts, and Estates Tax Forecast for 2025 and Beyond
2025 is slated to be the year of change for estate planners. What will the new administration bring? How will the expiration of the TCJA tax provisions be handled? How are the role and priorities of the IRS changing? Be prepared for the likely (and potentially surprising) outcomes with an incisive forecast from our tax specialist faculty. Delve into potential policy shifts under the new administration, explore proactive planning strategies for clients, and prepare for specific areas of scrutiny. Stay ahead of the curve - register today! Discuss the chances of TCJA tax cut extension and prepare for new tax burdens if they don't. Ensure compliance and minimize risk when it comes to business reporting and asset transfers. Get tips for building flexibility into your plans.
Recorded February 27, 2025.OnDemand 57 minutes
Best SellerFamily LawTax in Divorce: The Attorney's All-in-One Guide!
Build your knowledge! In this practical introduction to tax in divorce, our accomplished faculty fills you in on the tax implications of retirement accounts, marital residence division, and so much more. Make certain you handle each divorce case in a way that minimizes tax surprises and ensures a fair division of assets and liabilities - register today! Enhance your understanding of essential tax documents. Identify tax considerations when dividing up the marital residence. Discover the tax implications of dividing retirement accounts. Find out how to determine who gets to claim the children as dependents. Determine the pros and cons of different filing status options in divorce. This program was designed in conjunction with NBI's esteemed 2023-2025 Content Advisory Committee Member Erika MacCormac.
Recorded May 01, 2025.OnDemand5 hours 52 minutes
Trusts4.34Wrapping Up Estate Administration 101: Final Accounting, Tax, Distributions, and More
Work on the final accounting begins at the first steps of the estate administration and continues until it wraps up all the hard work. Every cent of estate assets, every receipt, expense, and payout must be recorded and balanced before the personal representative is discharged. Are you confident you're not misrepresenting or leaving anything out? This essential overview will walk you through the key steps of structuring, completing, and balancing the final accounting. Identify key mistakes and pain points and come away with helpful troubleshooting examples. Register today! Optimize your estate inventory practices to build a solid foundation for the final account. Properly handle and record distributions. Identify what needs to be filed and when. Walk through the final accounting report and spot problems that may cause it not to balance. Identify top mistakes that can derail the estate closing.
Recorded March 11, 2025.OnDemand5 hours 54 minutes
Tax4.29Understanding Tax Returns and Financial Statements: Practical Application for Legal Practice
How confident are you in your ability to assess the financial health of a client's business? How often do you wish Google Translate would work on financial records? If you've ever been concerned your lack of financial understanding may hinder your ability to represent your client effectively or is hurting your firm financially, this course is for you. This comprehensive course is designed to equip attorneys with the essential financial acumen needed for effective legal practice. by delving into the intricacies of financial statements, tax returns, and forensic analysis tools, participants will gain a working knowledge of business recordkeeping and tax reporting. Power up your skills - register today! Learn to accurately assess a business's financial performance and identify potential risks and opportunities. Develop the skills to navigate financial records and uncover critical information. Gain insights into a company's financial history and potential liabilities with IRS records. Discover tools to legally reduce your tax burden and increase profitability.
Recorded February 26, 2025.OnDemand5 hours 50 minutes
Trusts4.45Taxation of Trusts and Estates 101
Tax is an indelible component of estate planning. Every document you draft, every trust instrument you use will have far-reaching tax consequences. This practical legal guide gives you a solid understanding of the underlying tax principles guiding estate plans. Power up your practice - register today! Get an update on the latest tax laws, regulations and IRS guidance. Identify tax consequences of different trust structures. Explore essential tax forms used in trust reporting and estate administration. Come away with new ideas for incorporating effective tax tools into clients' estate plans. Understand how businesses are taxed.
Recorded July 17, 2024.OnDemand5 hours 52 minutes
TrustsAdvanced Estate Planning Conundrums: What Would You Do?
Skip the basics to focus on the latest updates affecting estate planning today. In this full-day course, our seasoned faculty will share their current go-to planning approaches and discuss real-life client scenarios to help you get more out of standard estate planning instruments. Find new approaches to controlling tax burdens and drafting for flexibility in an unpredictable environment. Take full advantage of planning opportunities and customize plans to fit your clients' unique situations and needs. Be ready for anything that clients - or changes in the law - bring to the table. Register today! Discuss how sunsetting TCJA estate/gift tax provisions and recent deregulation trends will shape planning decisions. Include digital assets and cryptocurrency into your estate planning documents. Discover cutting-edge tax tools for middle-class clients. Get insights into planning for difficult clients and complex family dynamics. Build a more robust client base with tips from the pros. Build flexibility into your high-net-worth estate plans. This program was designed in conjunction with NBI’s esteemed 2023-2025 Content Advisory Committee Member Louis Silverman.
Live Online + OnDemandJun 5, 2:00 PM
Best SellerReal Estate1031 Exchanges: 2025 Guide
Like-kind exchanges are an effective tax tactic but have been under legislative fire in the recent years. Are you confident old approaches still work? Whether you're new to the technique or just looking for a refresher, this practical overview will give you all the information you need to use 1031 exchanges tax efficiently and without error. Register today! Get a legal update and outlook for the future of the practice. Explore types of exchanges and their best uses. Review common mistakes made in choice of property and timing of the exchange. Make certain tax reporting is beyond reproach. Examine conversions to and from investment property and prevent key problems.
Live Online + OnDemandJun 11, 2:00 PM
Trusts4.33LLCs in Estate Planning and Probate: Complex Challenges
Go beyond basic operating agreements (OAs) when incorporating business succession in estate plans. Delve into the intricate world of LLCs in estate planning and probate and equip yourself with the knowledge and strategies to navigate the complexities that arise. Register today! Get a quick update on the factors affecting the creation of LLCs. Understand the unique characteristics of LLCs and their impact on estate planning and probate. Identify and troubleshoot complex challenges associated with LLCs in estate planning and administration. Think through the income and estate tax implications of transferring LLC interests to beneficiaries.
Recorded May 22, 2024.OnDemand2 hours 55 minutes
Business & Securities LawUsing LLCs to Invest in Real Estate Part 2: Structuring and Reporting Transactions
When using LLCs to invest in real estate, merely creating the entity is clearly not enough: you need to draft solid agreements to buy, sell, exchange, or lease the property. This course outlines key tactics that will ensure the transaction is effective and tax-efficient. Review common investment scenarios, environmental considerations, and ensure each transaction if property recording to withstand scrutiny. Register today! Hone your contract drafting skills with experienced practitioners' tips for better sale/purchase agreements. Reassess existing tax-planning tactics and learn new ones. Keep up to date on the transaction compliance and reporting requirements.
Recorded January 24, 2025.OnDemand2 hours 57 minutes
OnDemand Illinois CLE Courses
Maximize your time and flexibility with NBI's on-demand Illinois CLE courses. Our convenient online platform allows you to access high-quality legal education whenever and wherever it suits you best. With a wide variety of courses to choose from, you can easily find the topics that align with your professional interests and practice areas in Illinois. NBI's on-demand courses are designed and taught by experienced legal professionals, ensuring that you receive the same level of expertise and insight as our live courses. By opting for our on-demand Illinois CLE courses, you can balance your busy schedule while still investing in your professional growth and meeting your continuing education requirements.
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