ME Specific

Trusts, Estates & Probate

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Trust or Bust: Understanding Revocable and Irrevocable Trusts in Maine

Credits Available
Credit Status Total
Maine CLE Approved 6 Total
CPE for Accountants/NASBA Approved 7 Total
Live Online
6 hours
Thomas Murphy
Karen Holyoke
Robert Keyser
With Thomas J. Murphy from Murphy Law Firm, Inc. + 2 others

Thu, Dec 10, 00:00 AM – 00:00 PM

Product ID 102486

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$489

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Overview

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This comprehensive course delves into the intricacies of trusts in Maine, providing you with a solid foundation in trust law and practical applications. You'll gain a deep understanding of revocable and irrevocable trusts, their unique characteristics, and how they can be utilized to achieve your clients' estate planning goals. Whether you're an estate planning professional or simply interested in learning more about trusts, this course offers invaluable knowledge and guidance - register today!

  • Learn the basics of trust law.
  • Delve into revocable trusts.
  • Explore irrevocable trusts.
  • Compare the appropriate uses of irrevocable vs. revocable trusts.
  • Get a concise federal tax update.

Abbreviated Agenda

  1. An Overview of Trusts in Maine
  2. Revocable Trusts: Maine-Specific Overview
  3. Irrevocable Trusts In Maine
  4. Comparing Revocable and Irrevocable Trusts in Maine
  5. Current Federal Tax Rules and Environment
  6. Legal Ethics in Tax Practice

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Related Topics

Product ID 102486

Credit Details

Credits Available
Credit Status Total
Maine CLE Approved 6 Total
CPE for Accountants/NASBA Approved 7 Total
Select Jurisdiction
CLE
Other

Agenda

All times are shown in

  1. An Overview of Trusts in Maine

    1. An Overview of the Many Purposes of Trusts
    2. Unique Maine-Specific Laws and Regulations
    3. Real-World Examples and Tactics: Maine

  2. Revocable Trusts: Maine-Specific Overview

    1. Advantages of Revocable Trusts
    2. Disadvantages of Revocable Trusts
    3. Practical Considerations and Best Practices
      1. Estate Planning Strategies
      2. Asset Protection
      3. Medicaid Eligibility
      4. Probate Avoidance

  3. Irrevocable Trusts In Maine

    1. Advantages of Irrevocable Trusts
    2. Disadvantages of Irrevocable Trusts
    3. Practical Considerations and Best Practices
      1. Gift Tax Implications
      2. Medicaid Eligibility
      3. Asset Protection
      4. Probate Avoidance

  4. Comparing Revocable and Irrevocable Trusts in Maine

    1. Side-by-Side Comparison of Key Features
    2. When to Choose a Revocable Trust
    3. When to Choose an Irrevocable Trust
    4. Factors to Consider in Making the Decision of Revocable vs. Non-Revocable

  5. Current Federal Tax Rules and Environment

    1. Governing Law
    2. Tax Rates and Exemptions: Individual, Trust, Estate, Business
    3. Updates:
    4. IRS Guidance and Enforcement

  6. Legal Ethics in Tax Practice

    1. Attorney Fees
    2. Guarding Confidentiality
    3. Clients With Diminishing Capacity
    4. Identifying Undue Influence
    5. Fiduciary Liability Issues

Who Should Attend

This course is designed for attorneys. Paralegals may also benefit.

Speakers

Thomas J Murphy
Thomas J.
Murphy
Murphy Law Firm, Inc.
Karen M Holyoke
Karen M.
Holyoke
Verrill
Robert B Keyser II
Robert B.
Keyser, II
Robert B. Keyser II, LLC
Speaker bio
Thomas J Murphy

Thomas J. Murphy

Murphy Law Firm, Inc.
Thomas Murphy

is an attorney located in the Ahwatukee area of Phoenix. His practice emphasizes estate planning, elder law (including nursing home issues), all probate matters (including contested matters and guardianships), and tax controversies. Mr. Murphy has regularly appeared before the Arizona Court of Appeals, litigating many of the cutting-edge appellate cases in probate law. He has successfully litigated cases in the U.S. Tax Court, Arizona Tax Court, and the Arizona Board of Tax Appeals. Mr. Murphy is a member of the National Academy of Elder Law Attorneys, State Bar of Arizona (Tax Law, Probate and Trust Law, Mental Health and Elder Law sections), and Arizona Medicaid Planning Council. He serves on the Advisory Board of the Phoenix Tax Workshop and the Editorial Board of NAELA News. Mr. Murphy graduated from Tufts University, with honors, and earned his J.D. degree from Suffolk University Law School.

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Speaker bio
Karen M Holyoke

Karen M. Holyoke

Verrill
Karen Holyoke

is a Partner at Verrill, where she focuses on private clients and fiduciary services. Her career began with a clerkship for the Honorable Andrew J. Kleinfeld, U.S. Circuit Judge for the Ninth Circuit Court of Appeals, based in Fairbanks, Alaska. Ms. Holyoke has a strong history in estate planning, offering clients informed guidance backed by advanced legal training and practical experience. She earned her J.D. degree from the University of Utah S.J. Quinney College of Law and working towards her Master of Laws (LL.M.) in Taxation with an estate planning focus from Boston University School of Law.

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Speaker bio
Robert B Keyser II

Robert B. Keyser, II

Robert B. Keyser II, LLC
Robert Keyser

is the founding member of the estate, tax and business planning boutique firm, Robert B. Keyser II, LLC, based in Colorado Springs, Colorado. He provides counsel in the areas of income, estate and gift tax planning, and business planning to high-net-worth individuals and families. Mr. Keyser prepares advanced estate planning documents; such as qualified personal residence trusts, family limited partnerships, life insurance trusts, generation skipping trusts, charitable trusts, private foundations, grantor retained annuity trusts, intentionally defective grantor trusts, and complex wills. He handles various business transactional matters requiring the preparation of agreements for stock redemption, mergers, employment, stock buy-sell, partnership and limited liability company arrangements, non-qualified plans, and trusts. Mr. Keyser taught business law and accounting at the University of Colorado's Colorado Springs campus from 2004 to 2017. He earned his B.A. degree from Colorado University, his J.D. degree from the University of Denver College of Law and his LL.M. degree in taxation from the University of Denver Graduate Tax Program.

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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.
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