Trusts, Estates & Probate

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Revocable vs. Irrevocable Trusts: Drafting, Administration, Top Uses

Credits Available
Credit Status 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
Idaho CLE Approved 6 Total
Illinois CLE Approved 6 Total
Indiana CLE Approved 6 Total
Kansas CLE Upon Request 7 Total
Kentucky CLE Upon Request 6 Total
Louisiana 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
Montana CLE Approved 6 Total
North Carolina 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 Upon Request 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
CPE for Accountants/NASBA Approved 7 Total
Live Online
6 hours
Stephen Keogh
Howard Davidoff
Jennifer Galstad-Lee
Esther Engelson
With Stephen B. Keogh from Keogh.Law + 3 others

Tue, Dec 22, 00:00 AM – 00:00 PM

Product ID 102726

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Course Includes
$429

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OnDemand Recording

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OnDemand content will be available within 7 days of event date.

Overview

A Foundational Guide to Trusts

Trusts are the essential building block of every estate plan. Do you know exactly when and how they're used for the best effect? This legal guide will walk you through the comparative analysis of revocable and irrevocable trusts from creation through administration, tax consequences, and main uses. Build your trusts knowledge - register today!

  • Explore the best uses for specific irrevocable trusts.
  • Compare revocable living trusts and wills.
  • Clarify key tax reporting differences between revocable and irrevocable trusts.
  • Examine events that trigger conversion from revocable to irrevocable.
  • Get a glimpse of specialized uses of irrevocable trusts, including Medicaid and life insurance planning.

Abbreviated Agenda

  1. Trust Law: Key Terms and Concepts
  2. Revocable Trusts: Types of Trusts and Their Uses
  3. Irrevocable Trusts: Top Structures and Their Uses
  4. Tax Consequences, Treatment and Reporting: Revocable vs. Irrevocable
  5. Trust Administration Differences
  6. Mistakes When a Revocable Trust Becomes Irrevocable
  7. Modifying the Trust: Decanting How-to's
  8. Legal Ethics in Trusts and Estates Practice

Can't Attend Live?

Get the OnDemand Instead

Watch the recording of this event on your own schedule. We'll notify you when its ready.

Related Topics

Product ID 102726

Credit Details

Credits Available
Credit Status 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
Idaho CLE Approved 6 Total
Illinois CLE Approved 6 Total
Indiana CLE Approved 6 Total
Kansas CLE Upon Request 7 Total
Kentucky CLE Upon Request 6 Total
Louisiana 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
Montana CLE Approved 6 Total
North Carolina 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 Upon Request 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
CPE for Accountants/NASBA Approved 7 Total
Select Jurisdiction
CLE
Other

Agenda

All times are shown in

  1. Trust Law: Key Terms and Concepts

    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. Determining Your Client's Planning Needs
    5. Reasons for Drafting a Trust

  2. Revocable Trusts: Types of Trusts and Their Uses

    1. Revocable Trusts vs. Wills
    2. Top Revocable Living Trust Structures
    3. Pour-Over Wills

  3. Irrevocable Trusts: Top Structures and Their Uses

    1. Medicaid Income-Only Trusts
    2. Special Needs Trusts
    3. Irrevocable Life Insurance Trusts
    4. Other Irrevocable Trust Structures

  4. Tax Consequences, Treatment and Reporting: Revocable vs. Irrevocable

  5. Trust Administration Differences

    1. Grantor Power in Administration of Revocable Trusts
    2. Trustee Powers
    3. Interpretation of the Trust Instrument
    4. Management of Trust Assets

  6. Mistakes When a Revocable Trust Becomes Irrevocable

    1. Common Triggers of Conversion from Revocable to Irrevocable
    2. Trust Language that Triggers Upon the Death of the Grantor
    3. Asset Protection Oversights When Planning for Conversion from Revocable to Irrevocable
    4. Unwise Choice of Recipient Trust Structure When the Original Trust Splits into Multiple Irrevocable Trusts
    5. Incorrect Interpretation of Trust Language
    6. Improper Execution of Trust
    7. Incompletely Funded Revocable Living Trusts

  7. Modifying the Trust: Decanting How-to's

  8. Legal Ethics in Trusts and Estates Practice

    1. Who is the Client?
    2. Guarding Confidentiality
    3. Attorney Fees and Client Trust Accounts
    4. Client Communications

Who Should Attend

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

Speakers

Stephen B Keogh
Stephen B.
Keogh
Keogh.Law
Howard Davidoff
Howard
Davidoff
Howard Davidoff Attorney
Jennifer Galstad-Lee
Jennifer
Galstad-Lee
Avara Law, LLC
Esther Engelson
Esther
Engelson
Law Office of Esther Engelson, P.C.
Speaker bio
Stephen B Keogh

Stephen B. Keogh

Keogh.Law
Stephen Keogh

is the principal of Keogh.Law, practicing primarily in elder law and probate law. A magna cum laude graduate of Yale College, Mr. Keogh earned his J.D. degree from Columbia University. He is a member of the Fairfield County, Connecticut and American bar associations, and the National Academy of Elder Law Attorneys. Mr. Keogh is a member of the Board of Directors of the Connecticut Chapter of the National Academy of Elder Law Attorneys, member of the Executive Committee of the Elder Law Section of the Connecticut Bar Association, and past co-chair of the Elder Law Section of the Fairfield County Bar Association. He is also a member of the Community Bioethics Forum, which is sponsored by the Program for Biomedical Ethics at the Yale School of Medicine, of both the Bioethics Committee and the Pediatric Bioethics Committee of Yale-New Haven Hospital. Mr. Keogh was the first recipient of the Glenn E. Knierim Pro Bono Award, given by the Connecticut Probate Assembly in April 2012.

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Speaker bio
Howard Davidoff

Howard Davidoff

Howard Davidoff Attorney
Howard Davidoff

is an attorney at Howard Davidoff Attorney, specializing in tax and estate planning. He has 30 plus years of experience in dealing with the intricacies of ever-changing landscape in the areas of wills, trusts, estates, probate and taxation. Mr. Davidoff is not only a seasoned estate attorney, he is also a Certified Public Accountant, a tenured professor and a published author. His books include: "The McGraw-Hill 36-Hour Course Accounting" and "Keeping Your Assets in the Family." Mr. Davidoff earned his BBA degree from Hofstra University, his J.D. degree from Maurice A. Deane School of Law at Hofstra University, and his LL.M. in Taxation from New York University School of Law. He is admitted to practice law in New York.

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Speaker bio
Jennifer Galstad-Lee

Jennifer Galstad-Lee

Avara Law, LLC
Jennifer Galstad-Lee

is a dual-licensed CPA-Attorney at Avara Law, LLC, specializing in U.S. international taxation, tax controversies, U.S. inbound business formation and structuring, and estate planning for domestic and international individuals. Her practice areas are tax, business, wills, trusts, and estates. Ms. Galstad-Lee offers comprehensive tax advice, business, and estate planning to clients with cross-border activities, holistically crafted with accounting and financial expertise from 20+ years of public accounting practice. She volunteers as an attorney with the Pro Bono Resource Center of Maryland, providing legal support to those in need. As a Community Educator for the Alzheimer’s Association, Ms. Galstad-Lee helps raise awareness and educate the public about Alzheimer’s and dementia. Additionally, she serves as Treasurer for Equipment Connections for Children, a nonprofit organization that provides adaptive equipment to children with special needs. Ms. Galstad-Lee received her B.A. from Korea University and her J.D. from the Catholic University of America, Columbus School of Law. She is admitted to practice law in the District of Columbia, Maryland, and before the U.S. Tax Court.

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Speaker bio
Esther Engelson

Esther Engelson

Law Office of Esther Engelson, P.C.
Esther Engelson

is an attorney at the Law Office of Esther Engelson, P.C. She has over two decades of experience in litigation, appellate advocacy, estate planning, and elder law. Ms. Engelson earned her B.A. degree from Touro University NYSCAS, her M.A. degree from Yeshiva University, and her J.D. degree from Fordham University School of Law. She is admitted to practice law in New York.

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