Trusts, Estates & Probate

4.47

Trust Administration: Attorney and Trustee Discussion

Credits Available
Credit Status Total
Alaska CLE Approved 3 Total
Arkansas CLE Approved 3 Total
Arizona CLE Approved 3 Total
California CLE Approved 3 Total
Colorado CLE Approved 4 Total
Connecticut CLE Approved 3 Total
Delaware CLE Approved 3 Total
Florida CLE Approved 3.5 Total
Hawaii CLE Approved 3 Total
Idaho CLE Approved 3 Total
Illinois CLE Approved 3 Total
Maine CLE Approved 3 Total
Minnesota CLE Approved 3 Total
Missouri CLE Approved 3.6 Total
Northern Mariana Islands CLE Approved 3 Total
Montana CLE Approved 3 Total
North Dakota CLE Approved 3 Total
Nebraska CLE Approved 3 Total
New Hampshire CLE Approved 3 Total
New Mexico CLE Approved 3 Total
Nevada CLE Approved 3 Total
New York CLE Approved 3.5 Total
Oklahoma CLE Approved 3.5 Total
Oregon CLE Approved 3 Total
Pennsylvania CLE Approved 3 Total
Rhode Island CLE Upon Request 3.5 Total
Tennessee CLE Approved 3 Total
Vermont CLE Approved 3 Total
Washington CLE Approved 3 Total
Wisconsin CLE Approved 3.5 Total
West Virginia CLE Approved 3.6 Total
OnDemand
2 hours 57 minutes
Patti Spencer
Neal Jannol
William Hayes
With Patti S. Spencer from Spencer Law Firm LLC + 2 others
Recorded October 29, 2024
Product ID 99158

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Overview

Bridge the Divide Between Intended and Actual Use of Trusts

In this engaging discussion between an experienced trusts and estates attorney and a skilled trustee with a special focus on special needs trusts, we attempt to bridge the chasm between the intended use of trusts and their effective implementation. Benefit from the shared experience on both sides of the trust process and come away with practical tips for avoiding drafting mistakes and improving settlement and administration tasks. No matter your role in trusts and estate planning, you can't afford to miss this practical discussion. Hone your skills - register today!

  • Discuss what planned provisions work, which ones don't, and how to fix it.
  • Determine when a special needs trust is needed, and what unique challenges and opportunities it often presents.
  • Ensure the trust is activated after it's drafted - clarify who must fund it and when.
  • Improve beneficiary reporting: discuss the reasoning behind minimal required disclosures vs. disclosing everything.
  • Explore the real-life implications and intricacies of trusts post-drafting.

This program was designed in conjunction with NBI's esteemed 2023-2024 Content Advisory Committee Member attorney Louis Silverman and fiduciary counsel Bridget O'Brien Swartz.

Abbreviated Agenda

  1. Special Needs Trusts (SNTs): Unique Considerations
  2. Initial Stages of Trust Administration
  3. Trust Settlement and Ongoing Trust Administration
  4. Drafting and Interpreting the Trust (With Sample Language)

Related Topics

Product ID 99158

Credit Details

Credits Available
Credit Status Total
Alaska CLE Approved 3 Total
Arkansas CLE Approved 3 Total
Arizona CLE Approved 3 Total
California CLE Approved 3 Total
Colorado CLE Approved 4 Total
Connecticut CLE Approved 3 Total
Delaware CLE Approved 3 Total
Florida CLE Approved 3.5 Total
Hawaii CLE Approved 3 Total
Idaho CLE Approved 3 Total
Illinois CLE Approved 3 Total
Maine CLE Approved 3 Total
Minnesota CLE Approved 3 Total
Missouri CLE Approved 3.6 Total
Northern Mariana Islands CLE Approved 3 Total
Montana CLE Approved 3 Total
North Dakota CLE Approved 3 Total
Nebraska CLE Approved 3 Total
New Hampshire CLE Approved 3 Total
New Mexico CLE Approved 3 Total
Nevada CLE Approved 3 Total
New York CLE Approved 3.5 Total
Oklahoma CLE Approved 3.5 Total
Oregon CLE Approved 3 Total
Pennsylvania CLE Approved 3 Total
Rhode Island CLE Upon Request 3.5 Total
Tennessee CLE Approved 3 Total
Vermont CLE Approved 3 Total
Washington CLE Approved 3 Total
Wisconsin CLE Approved 3.5 Total
West Virginia CLE Approved 3.6 Total
Select Jurisdiction
CLE

Agenda

All times are shown in

  1. Special Needs Trusts (SNTs): Unique Considerations

    1. When Is the SNT Needed?
    2. High-Level Drafting Considerations
    3. Benefits Eligibility Concerns

  2. Initial Stages of Trust Administration

    1. Identifying Trust Assets, Locating Missing Documentation
    2. Valuing Trust Assets
    3. Identifying, Locating, and Notifying Beneficiaries
    4. Who Funds the Trust and When?

  3. Trust Settlement and Ongoing Trust Administration

    1. Managing Trust Assets and Investments
    2. Making Distributions to Beneficiaries Under the Trust Terms
    3. Recordkeeping
    4. Communicating With and Reporting to Beneficiaries
    5. Dealing With Complexities and Conflict
    6. Modifying and Terminating a Trust
    7. Outsourcing Tasks and Engaging Professionals

  4. Drafting and Interpreting the Trust (With Sample Language)

    1. Choosing the Trustee and Drafting for Vacancy and Successorship
    2. Drafting Consistently Throughout Documents (Wills, Financial and Healthcare POAs)
    3. Distinguishing Between Trustees and Other Fiduciaries
    4. How Common Drafting Mistakes Affect Trust Administration
    5. Smoothing the Transition From the Attorney to the Trust Fiduciary

Who Should Attend

This engaging legal course is designed for attorneys. Accountants, trustees, other fiduciaries, and paralegals will also benefit.

Speakers

Patti S Spencer
Patti S.
Spencer
Spencer Law Firm LLC
Neal B Jannol
Neal B.
Jannol
Law Office of Neal B. Jannol
William R Hayes
William R.
Hayes
Hayes & Wilson, PLLC
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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Speaker bio
Neal B Jannol

Neal B. Jannol

Law Office of Neal B. Jannol
Neal Jannol

is a sole practitioner in Los Angeles at the Law Office of Neal B. Jannol. He has been an attorney for more than 20 years, and concentrates his practice on sophisticated estate and tax planning for individual clients, the representation of individual and corporate fiduciaries, and the administration of estates and trusts. Mr. Jannol's experience includes drafting revocable and irrevocable trusts, business succession planning, premarital planning, charitable gift planning, and all aspects of estate administration and probate procedures. He is a member of the State Bar of California. Mr. Jannol earned his B.A. degree, magna cum laude, from the University of California at Los Angeles and his J.D. degree from the University of California at Berkeley, Boalt Hall School of Law.

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Speaker bio
William R Hayes

William R. Hayes

Hayes & Wilson, PLLC
William Hayes

is a partner in the law firm of Hayes & Wilson, PLLC. He is a frequent speaker on estate planning, wills and trusts, probate, charitable gifting, disability planning, elder law and Medicaid. Mr. Hayes has served the Houston Bar Association as co-chair of the Elder Law Committee, and chair of the Fee Dispute Committee for which he was honored with the HBA Presidents Award. He is board-certified in estate planning and probate by the Texas Board of Legal Specialization. Mr. Hayes is a member of the State Bar of Texas, Houston Estate and Financial Forum, Houston Business and Estate Planning Council, Attorneys in Tax and Probate, and Disability and Elder Law Attorneys Association. He earned his B.B.A. and J.D. degrees from the Southern Methodist University.

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