Trusts, Estates & Probate

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Trust Administration Before and After Grantor's Death

Credits Available
Credit Status Total
California MCLE Paralegal Approved 6 Total
Alaska CLE Reciprocity 6 Total
Alabama CLE Approved 6 Total
Arkansas CLE Approved 6 Total
Arizona CLE Approved 6 Total
California CLE Approved 6 Total
Colorado CLE Approved 7 Total
Connecticut CLE Approved 6 Total
Delaware CLE Approved 6 Total
Florida CLE Approved 7 Total
Georgia CLE Approved 6 Total
Hawaii CLE Approved 6 Total
Iowa CLE Approved 6 Total
Illinois CLE Approved 6 Total
Indiana CLE Approved 6 Total
Kansas CLE Approved 7 Total
Kentucky CLE Approved 6 Total
Maine CLE Approved 6 Total
Minnesota CLE Approved 6 Total
Missouri CLE Approved 7.2 Total
Northern Mariana Islands CLE Approved 6 Total
Mississippi CLE Approved 6 Total
Montana CLE Approved 6 Total
North Carolina CLE Approved 6 Total
North Dakota CLE Approved 6 Total
Nebraska CLE Approved 6 Total
New Hampshire CLE Approved 6 Total
New Jersey CLE Approved 7.2 Total
New Mexico CLE Approved 6 Total
Nevada CLE Approved 6 Total
New York CLE Approved 7 Total
Ohio CLE Approved 6 Total
Oklahoma CLE Approved 7 Total
Pennsylvania CLE Approved 6 Total
Rhode Island CLE Approved 7 Total
South Carolina CLE Approved 6 Total
Tennessee CLE Approved 6 Total
Texas CLE Approved 6 Total
Utah CLE Approved 6 Total
Virginia CLE Approved 6 Total
Vermont CLE Approved 6 Total
Washington CLE Approved 6 Total
Wisconsin CLE Approved 7 Total
West Virginia CLE Approved 7.2 Total
Wyoming CLE Approved 6 Total
Arizona CPE for Accountants Approved 7 Total
New York CPE for Accountants Approved 7 Total
Washington CPE for Accountants Approved 7 Total
Wisconsin CPE for Accountants Approved 7.2 Total
Delaware Certified Paralegal Program Approved 6 Total
Florida Registered Paralegal Approved 6 Total
Indiana Paralegal CLE Approved 6 Total
Montana CLE Credit for Paralegals Approved 6 Total
CPE for Accountants/NASBA Approved 7 Total
North Carolina Continuing Paralegal Education Approved 6 Total
New Mexico Paralegal Division, State Bar of Approved 6 Total
Ohio Certified Paralegals Approved 6 Total
NFPA Approved 0 Total
Texas State Bar of Paralegal Division Approved 6 Total
Live Online
6 hours
SusAnne Chung
Jennifer Landry
Klaus Gottlieb
John Paul Parks
With SusAnne L. Chung from Legacy Law Office, A Professional Law Corporation + 3 others

Fri, Jun 26, 00:00 AM – 00:00 PM

Product ID 102055

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Course Includes
$429

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Overview

Where Drafting Meets Reality

Do you wish there were more continuity between trust drafting and its real-life execution and administration? This course bridges the gap with a comprehensive road map for managing trusts through two distinct phases: the lifetime of the grantor and the transition following their death. Explore the high-stakes reality of trust administration, focusing on fiduciary duties, tax compliance, and best practices for avoiding litigation. Expand your skills - register today!

  • Identify and fix "orphan" assets before incapacity or death creates a title nightmare.
  • Master the notice requirements for distributions.
  • Shift from the Grantor's SSN to a trust EIN without triggering IRS red flags.
  • Establish best practices for regular accounting to prevent breach-of-duty claims.

Abbreviated Agenda

  1. Trust Administration Framework
  2. Trust Funding and Financial Management
  3. Pre-Mortem Administration: Maintenance and Transition Peak
  4. What Happens When the Settlor Passes Away: Successor Trustee Tasks
  5. Trust Tax Planning, Payment, and Reporting
  6. Common Mistakes, Challenges, and Disputes
  7. Trust Distributions: Trust Terms, Notices, Consent, NJSAs
  8. Legal Ethics of Trust Administration

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Pre-Order the OnDemand

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Related Topics

Product ID 102055

Credit Details

Credits Available
Credit Status Total
California MCLE Paralegal Approved 6 Total
Alaska CLE Reciprocity 6 Total
Alabama CLE Approved 6 Total
Arkansas CLE Approved 6 Total
Arizona CLE Approved 6 Total
California CLE Approved 6 Total
Colorado CLE Approved 7 Total
Connecticut CLE Approved 6 Total
Delaware CLE Approved 6 Total
Florida CLE Approved 7 Total
Georgia CLE Approved 6 Total
Hawaii CLE Approved 6 Total
Iowa CLE Approved 6 Total
Illinois CLE Approved 6 Total
Indiana CLE Approved 6 Total
Kansas CLE Approved 7 Total
Kentucky CLE Approved 6 Total
Maine CLE Approved 6 Total
Minnesota CLE Approved 6 Total
Missouri CLE Approved 7.2 Total
Northern Mariana Islands CLE Approved 6 Total
Mississippi CLE Approved 6 Total
Montana CLE Approved 6 Total
North Carolina CLE Approved 6 Total
North Dakota CLE Approved 6 Total
Nebraska CLE Approved 6 Total
New Hampshire CLE Approved 6 Total
New Jersey CLE Approved 7.2 Total
New Mexico CLE Approved 6 Total
Nevada CLE Approved 6 Total
New York CLE Approved 7 Total
Ohio CLE Approved 6 Total
Oklahoma CLE Approved 7 Total
Pennsylvania CLE Approved 6 Total
Rhode Island CLE Approved 7 Total
South Carolina CLE Approved 6 Total
Tennessee CLE Approved 6 Total
Texas CLE Approved 6 Total
Utah CLE Approved 6 Total
Virginia CLE Approved 6 Total
Vermont CLE Approved 6 Total
Washington CLE Approved 6 Total
Wisconsin CLE Approved 7 Total
West Virginia CLE Approved 7.2 Total
Wyoming CLE Approved 6 Total
Arizona CPE for Accountants Approved 7 Total
New York CPE for Accountants Approved 7 Total
Washington CPE for Accountants Approved 7 Total
Wisconsin CPE for Accountants Approved 7.2 Total
Delaware Certified Paralegal Program Approved 6 Total
Florida Registered Paralegal Approved 6 Total
Indiana Paralegal CLE Approved 6 Total
Montana CLE Credit for Paralegals Approved 6 Total
CPE for Accountants/NASBA Approved 7 Total
North Carolina Continuing Paralegal Education Approved 6 Total
New Mexico Paralegal Division, State Bar of Approved 6 Total
Ohio Certified Paralegals Approved 6 Total
NFPA Approved 0 Total
Texas State Bar of Paralegal Division Approved 6 Total
Select Jurisdiction
CLE
Paralegal
Other

Agenda

All times are shown in

  1. Trust Administration Framework

    1. Reading the Trust Terms
    2. State UTCs and Other Laws That Govern Trust Administration
    3. Types of Trustees and Trust Protectors
    4. Types of Trusts: Revocable vs. Irrevocable
    5. Types of Beneficiaries

  2. Trust Funding and Financial Management

    1. Transfer of Deeds and Titles
    2. Determining/Documenting the Value of Trust Assets
    3. The Uniform Prudent Investor Act and Trustee Fiduciary Duties
    4. Recordkeeping, Periodic Reporting, Fiduciary Accountings
    5. Diversification Duty and "Single-Asset" Trusts (e.g., Family Business Trust)

  3. Pre-Mortem Administration: Maintenance and Transition Peak

    1. Trust Updates to Reflect Grantor's Major Life Events and Asset Changes
    2. Handling the Transition When a Grantor Is Alive but Lacks Capacity
    3. Coordinating Beneficiary Designations
    4. Trust Protectors: Using Third-Party Oversight During the Grantor's Lifetime

  4. What Happens When the Settlor Passes Away: Successor Trustee Tasks

    1. The Change From Revocable to Irrevocable and Proper Notices
    2. Obtaining a New Tax ID Number for the Trust
    3. Trust Assets Inventory and Assets Outside of the Trust (Probate Estate)
    4. Handling Trust Expenses and Creditor Claims
    5. Regular Accountings for Beneficiaries

  5. Trust Tax Planning, Payment, and Reporting

    1. How Trust Structure/Terms Affect Tax Liability
    2. Tax Basis Step-Up Planning
    3. Property Taxes and Income Tax Deductions
    4. Tax Reporting Forms, Rules, and Procedures
    5. Tax Consequences of Trustee Actions

  6. Common Mistakes, Challenges, and Disputes

    1. Top Mistakes Lay/Family Trustees Make
    2. The Extent of Trustee Discretion Powers
    3. Common Beneficiary Disputes
    4. Changes in Circumstances and Ambiguous or Outdated Trust Terms
    5. Unique and Complex Assets: IRAs, Firearms, Digital Currency, Family Business, Complex Investments, Assets Abroad, etc.

  7. Trust Distributions: Trust Terms, Notices, Consent, NJSAs

    1. Required Distribution Notices
    2. Outright Distributions
    3. Distributions for Specific Purposes: Education, Health, etc.
    4. Distributions to Children
    5. Distributions to an Irrevocable Trust, Subtrust Funding, and Complex Asset Splits
    6. Final Distributions and Release Agreement

  8. Legal Ethics of Trust Administration

    1. Who Is Your Client (Trustees, Trust Protectors, Beneficiaries, Settlors)?
    2. Preventing Conflicts of Interest
    3. Client Confidentiality
    4. Attorneys Acting as Trustees

Who Should Attend

This legal course is designed for attorneys. Accountants, fiduciaries, trust officers, executors, tax professionals, and paralegals may also benefit.

Speakers

SusAnne L Chung
SusAnne L.
Chung
Legacy Law Office, A Professional Law Corporation
Jennifer Landry
Jennifer
Landry
Baker Law Group
Klaus Gottlieb
Klaus
Gottlieb
Wealth Care Lawyer
John Paul Parks
John Paul
Parks
John Paul Parks PLLC
Speaker bio
SusAnne L Chung

SusAnne L. Chung

Legacy Law Office, A Professional Law Corporation
SusAnne Chung

is the founding attorney of Legacy Law Office, A Professional Law Corporation, where her practice is limited to estate planning, business planning, real estate transactions, business law, and non-profit corporations. Additionally, Ms. Chung uses her real estate broker license with the California Bureau of Real Estate to handle real estate property management during trust administrations and to assist clients in private party real estate sales. She is a member of the State Bar of California and the Virginia State Bar. Ms. Chung earned her B.A. degree from the University of Oregon and her J.D. degree from Regent University School of Law, Virginia Beach, Virginia.

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Speaker bio
Jennifer Landry

Jennifer Landry

Baker Law Group
Jennifer Landry

is a senior associate attorney at Baker Law Group. Her practice focuses on estate planning, probate, and elder law. Ms. Landry earned her B.A.A.S. degree from the University of North Texas and her J.D. degree from Texas A&M Law School (also known as Texas Wesleyan School of Law). She is a member of the Texas Bar Association; Colorado Bar Association; president-elect, Erie, Colorado Chamber of Commerce; and member, Rotary Club of Erie. Ms. Landry is licensed in Colorado and Texas.

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Speaker bio
Klaus Gottlieb

Klaus Gottlieb

Wealth Care Lawyer
Klaus Gottlieb

, JD, MS, MBA, is the founder of Wealth Care Lawyer, an estate planning firm with offices in San Luis Obispo and Cayucos, California. He brings a rigorous quantitative approach to estate planning, drawing on graduate training in biotechnology and bioinformatics at Johns Hopkins University and an MBA. Mr. Gottlieb has a particular interest in charitable giving, especially charitable remainder trusts, and has published on these topics in Tax Notes and the California Trusts & Estates Quarterly. He teaches Wills & Trusts and Business Law at Monterey College of Law and is pursuing an LL.M. degree in taxation at Golden Gate University School of Law in San Francisco. Mr. Gottlieb is a member of the California Central Coast Estate Planning Council and is admitted to practice in California.

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Speaker bio
John Paul Parks

John Paul Parks

John Paul Parks PLLC
John Paul Parks

is a sole practitioner in Scottsdale, Arizona, where he practices in the areas of estate planning, trust and estate administration, and business law. He is a member of the Scottsdale Bar Association, the Scottsdale Estate Planners, and is a former agent with the Attorneys' Title Insurance Fund, Inc. in Orlando, Florida. Mr. Parks was the principal draftsman of the Florida Not-For-Profit Corporation Act that became effective in 1991. He is admitted to practice in Arizona, California, Florida, and the District of Columbia. Mr. Parks earned his B.B.A. and J.D. degrees from Stetson University and his LL.M. degree from the University of Miami.

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