PA Specific

Trusts, Estates & Probate

4.23

Pennsylvania Trusts 101

Credits Available
Credit Status Total
New Jersey CLE Approved 8 Total
New York CLE Approved 8 Total
Pennsylvania CLE Approved 6.5 Total
OnDemand
6 hours 35 minutes
Christopher Gray
Patti Spencer
With Christopher R. Gray from Norris McLaughlin, P.A. + 1 other
Recorded August 06, 2025
Product ID 101042

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Overview

Provide your clients with the full spectrum of wealth preservation options.

When assessing complex information, it often helps to break items into basic building blocks. The same approach can be successful when dealing with asset protection. Be prepared for specific challenges associated with various types of trusts by understanding their unique characteristics. Our intensive full-day primer will provide you with a comprehensive overview of the wide variety of trusts available. Register today!

  • Determine what role the settlor will play by weighing the pros and cons of establishing an irrevocable trust over a revocable trust.
  • Learn what not to do when selecting and drafting a revocable trust to avoid common mistakes.
  • Learn how to choose the most beneficial vehicle for preserving your client's wealth: understand the purpose behind the various types of irrevocable trusts.
  • Explore the powers and duties of personal representatives in irrevocable trusts.
  • Save money on taxes with effective use of defective trusts.
  • Learn why it's important to know when to file the tax return for grantor trusts.
  • Determine whether a client qualifies as a beneficiary of a special needs trust.
  • Don't reinvent the wheel - modify our sample trust documents and use our drafting tips to create airtight trusts.

Abbreviated Agenda

  1. Where to Begin? - An Overview of Trusts
  2. Grantor Trusts
  3. Estate Planning for Individuals with Disabilities
  4. Ethical Considerations
  5. Revocable Living Trusts
  6. Trusts Used for Tax Reduction

Related Topics

Product ID 101042

Credit Details

Credits Available
Credit Status Total
New Jersey CLE Approved 8 Total
New York CLE Approved 8 Total
Pennsylvania CLE Approved 6.5 Total
Select Jurisdiction
CLE

Agenda

All times are shown in

  1. Where to Begin? - An Overview of Trusts

    1. Main Terms Defined
    2. Major Laws Governing Creation and Administration of Trusts
    3. Who Are the Main Parties? Their Duties and Responsibilities to a Trust
    4. Revocable vs. Irrevocable
    5. Determining Your Client's Planning Needs
    6. Reasons for Drafting a Trust
    7. Deciding Which Type of Trust to Use

  2. Grantor Trusts

    1. What Grantor Trusts are Used for
    2. Types of Grantor Trusts
    3. Provisions Triggering Grantor Trust Status
    4. Funding the Grantor Trust - Who Is the Grantor?
    5. Drafting Tips and Samples
    6. Taxation Considerations - When to File the Return?
    7. Administrative Power

  3. Estate Planning for Individuals with Disabilities

    1. The Types of Special Needs Trusts and Their Specific Purposes
    2. Who Can Be the Beneficiary
    3. Drafting Tips and Samples

  4. Ethical Considerations

    1. Who is Your Client?
    2. Confidentiality in Third Party Communications
    3. Assessing The Client's Capacity
    4. Avoiding Fraudulent Transfers

  5. Revocable Living Trusts

    1. Traditional Estate Planning vs. Revocable Trust Planning
    2. Credit Shelter Trusts
    3. Marital Deduction Trusts
    4. Qualified Terminable Interest Trusts (QTIPs)
    5. Funding the Trust
    6. Drafting Tips and Samples
    7. Common Mistakes to Avoid
    8. Tax Consequences

  6. Trusts Used for Tax Reduction

    1. Charitable Remainder Trusts
    2. Qualified Domestic Trusts
    3. Qualified Personal Residence Trusts (QPRTs)
    4. Defective Trusts
    5. Education Trusts for Children and Grandchildren
    6. Generation Skipping Trusts
    7. Funding the Trust

Who Should Attend

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

  • Attorneys
  • Accountants and CPAs
  • Trust Officers
  • Financial Planners
  • Tax Professionals
  • Paralegals

Speakers

Christopher R Gray
Christopher R.
Gray
Norris McLaughlin, P.A.
Patti S Spencer
Patti S.
Spencer
Spencer Law Firm LLC
Speaker bio
Christopher R Gray

Christopher R. Gray

Norris McLaughlin, P.A.
Christopher Gray

is an attorney at Norris McLaughlin, P.A. He focuses his practice in the areas of estate planning, estate administration, and income tax planning. In addition, Mr. Gray is experienced in corporate matters, business transactions, non-profit issues, health care governance, elder law, and general litigation. He represents high net-worth clients and their businesses in developing estate, gift, income tax, and succession planning strategies. Mr. Gray has also represented clients in merger and acquisition transactions as well as tax-free reorganizations. He earned his B.A. degree from Franklin and Marshall College; his J.D. degree, cum laude, from Thomas M. Cooley Law School; and his LL.M. degree in taxation from Georgetown University Law Center. Mr. Gray is a past officer of the Lehigh Valley Estate Planning Council and currently serves on the Northampton Community College Foundation Board of Directors, where he is also chair of its Planned Giving Committee. He is admitted to practice law in Pennsylvania.

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Speaker bio
Patti S Spencer

Patti S. Spencer

Spencer Law Firm LLC
Patti Spencer

is an attorney with Metzger and Spencer, LLP and Spencer Law Firm LLC in Lancaster, Pennsylvania, where she provides experience and depth in estate planning, trust and estate administration, complex tax consulting, charitable gift planning, wealth transfer vehicles and retirement plan consulting, and expert witness testimony. Ms. Spencer taught estate and gift tax for eight years as an adjunct professor at Boston University in the LL.M. program, and also was a former professor of trusts and estates at Boston University School of Law. In addition, she has spoken numerous times on topics related to her areas of expertise. Ms. Spencer is the author of a weekly column Taxing Matters, which appeared in the Lancaster Intelligencer Journal's Business Monday Section for 14 years. She also has written Pennsylvania Estate Planning, Wills and Trusts Library: Forms and Practice Manual, Data Trace, which is updated annually. Ms. Spencer earned her B.A. degree from Dickinson College, her J.D. degree from Boston University and her LL.M. degree from Boston University. She is a fellow of the American College of Trust and Estate Counsel.

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Are multiple attendee discounts available?
Yes, the more people you bring from your organization, the more you save. After the first registration, each additional attendee receives a special discount off of their total tuition.
When will the OnDemand be available and how long will I have access to the content?
The OnDemand Video will be available to stream within 14 days of live broadcast date. You will have access to the content for 6 months in your account. If you’re a subscriber, you’ll have access to your course recordings until 7 days after the expiration date of the subscription.
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When you enroll prior to the live event date you will receive access to the live-streaming webinar which will allow you to interact with faculty in real-time. With each course, you will receive access to the content via OnDemand Streaming and the Video Download. Course reference materials are included with each course purchase in a downloadable PDF format.
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