NV Specific

Trusts, Estates & Probate

Nevada Trusts Guide

Credits Available
Credit Status Total
Nevada CLE Approved 6 Total
OnDemand
5 hours 52 minutes
Richard Schulze
Clayton Leonard
Alicia Johnson
With Richard P. Schulze from Schulze Law Group + 2 others
Recorded November 15, 2022
Product ID 95469

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Overview

Explore the Building Blocks of Estate Plans

This practical introduction to trusts will help you build a better understanding of how they're chosen, created, and used. Break down the different types of trusts, the trust language used in drafting and case law, key tax planning and reporting issues, and essential trust administration tasks. Be prepared for specific challenges associated with various types of trusts by understanding their unique characteristics. Register today!

  • Master essential trust principles.
  • Explore top trusts currently in practice: their unique features, requirements, and uses.
  • Identify key revocable trust mistakes and get guidance for preventing problems.
  • Explore tax saving tactics tailored to unique client needs.
  • Get suggestions for the use of specific language in trusts.
  • Clarify the requirements for the formation of a special needs trust.
  • Come away with practical examples and trust language needed to put your new knowledge to use right away.

Abbreviated Agenda

  1. Introduction to Trusts: Main Terms, Concepts, Parties
  2. Revocable Living Trusts
  3. Irrevocable Trusts: Essential Uses and Key Provisions
  4. Special Needs Trusts (SNTs) Structures and Uses (With Sample Trust Language)
  5. Other Unique Trust Structures of Note
  6. Taxation and Tax Consequences of Trusts
  7. Trust Administration Basics
  8. Legal Ethics of the Trusts Practice

Related Topics

Product ID 95469

Credit Details

Credits Available
Credit Status Total
Nevada CLE Approved 6 Total
Select Jurisdiction
CLE

Agenda

All times are shown in

  1. Introduction to Trusts: Main Terms, Concepts, Parties

    1. Main Terms and Concepts Defined
    2. State and Federal Laws Governing the Creation and Administration of Trusts
    3. State and Local Tax and Property Laws Affecting Trust Drafting
    4. Who Are the Main Parties? Their Duties and Responsibilities to a Trust
    5. Clarifying Reasons for Drafting a Trust
    6. Deciding Which Type of Trust to Use
    7. Top Trust Uses for Non-Taxable Estates

  2. Revocable Living Trusts

    1. Testamentary vs. Revocable Trusts (and Pourover Wills)
    2. Drafting Tips and Samples
    3. Common Mistakes to Avoid
    4. Qualified Terminable Interest Trusts (QTIPs)
    5. Tax Consequences and Planning
    6. When a Revocable Trust Becomes Irrevocable

  3. Irrevocable Trusts: Essential Uses and Key Provisions

    1. Unique Features of Irrevocable Trusts
    2. Trust Language Review
    3. Types of Irrevocable Trusts and Their Uses

  4. Special Needs Trusts (SNTs) Structures and Uses (With Sample Trust Language)

    1. The Types of Special Needs Trusts and Their Specific Purposes
    2. Who Can Be the Beneficiary
    3. Protecting Benefits Eligibility
    4. Drafting Tips and Sample Trust Provisions
    5. Maximizing Allowable Expenses

  5. Other Unique Trust Structures of Note

    1. Charitable Trusts
    2. IRA Trusts After the SECURE Act
    3. Generation-Skipping/Dynasty Trusts
    4. Medicaid Qualifying Income-Only Trusts (Miller Trusts)
    5. Pet Trusts
    6. Cabin Trusts
    7. Irrevocable Life Insurance Trusts
    8. NFA Gun Trusts
    9. Incomplete Non-Grantor Trusts

  6. Taxation and Tax Consequences of Trusts

    1. State and Federal Tax Laws Update
    2. Tax Reporting: Accounting vs. Distributable vs. Taxable Income
    3. Fiduciary Tax Returns
    4. Tax Basis in the Assets
    5. Tax Consequences of Trustee Investment, Distributions, and Other Activity
    6. Trusts Used for Tax Reduction
    7. Marital Trusts After ATRA and TCJA
    8. Grantor Trusts and Grantor Trust Status Toggling
    9. Trusts in Estate Administration

  7. Trust Administration Basics

    1. Trust Funding and Trust Assets Management
    2. Laws Governing the Administration of Trusts
    3. Administration Expenses and Trustee Compensation
    4. Distributions and Accountings
    5. Trust Modification, Decanting, and Constructive Trusts
    6. Common Disputes

  8. Legal Ethics of the Trusts Practice

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

Who Should Attend

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

  • Attorneys
  • Accountants and CPAs
  • Trust Officers
  • Tax Managers
  • Wealth Managers

Speakers

Richard P Schulze
Richard P.
Schulze
Schulze Law Group
Clayton R Leonard
Clayton R.
Leonard
Alicia Johnson
Alicia
Johnson
Johnson Law Practice, PLLC
Speaker bio
Richard P Schulze

Richard P. Schulze

Schulze Law Group
Richard Schulze

is the owner of Schulze Law Group and principal shareholder in Patriot Legal Services. Mr. Schulze's law practice emphasizes wills, trusts and asset preservation planning, as well as elder law. He is highly skilled in assisting clients in qualifying for and receiving Medicaid and the Veterans' Aid & Attendance benefit. Mr. Schulze is a frequent lecturer to the public and professionals on estate, Medicaid, asset protection and tax planning matters. Mr. Schulze is a member of the National Academy of Elder Law Attorneys and WealthCounsel, LLC. He is also a member of the American Bar Association and the State Bar of Nevada. Mr. Schulze earned his B.A. degree from Reed College and his J.D. degree from Willamette University College of Law.

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Speaker bio
Clayton R Leonard

Clayton R. Leonard

Clayton Leonard

is a partner at law office of Robert L. Bolick, Ltd. in Las Vegas, Nevada. He focuses in the areas of estate planning, business planning, asset protection, probate and trust administration. He is admitted to practice in both Nevada and Hawaii, and is a member of WealthCounsel. Mr. Leonard earned his B.S. degree in exercise science from Brigham Young University and his J.D. degree from The University of Toledo College of Law.

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Speaker bio
Alicia Johnson

Alicia Johnson

Johnson Law Practice, PLLC
Alicia Johnson

is an attorney with Johnson Law Practice, PLLC, where she provides accessible legal services to small businesses and families. She focuses her practice in the areas of business, real estate, family law, wills, trusts, probate and litigation. Ms. Johnson earned her B.A. degree from Gonzaga University and her J.D. degree, cum laude, from Seattle University School of Law.

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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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