TN Specific

Trusts, Estates & Probate

4.14

Trusts in Tennessee From A to Z

Credits Available
Credit Status Total
Tennessee CLE Approved 6.7 Total
OnDemand
6 hours 26 minutes
David Heller
Henry Fincher
S. Brad Dozier
Alan Cates
Aaron Morales
Russell Cook
Paul Parker
Claiborne McLemore
With David E. Heller from Martin, Heller, Potempa & Sheppard, PLLC + 7 others
Recorded November 13, 2024
Product ID 99176

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Overview

The Ultimate Pros and Cons Guide to Top Wealth Planning Techniques

Planning your clients' financial future and legacy is diverse and complex, with a unique tool for every unique client situation. In this fast-paced comprehensive program, our faculty will guide you through the plethora of trust options and give you a straightforward, incisive analysis of when and how each can be used for maximum effect. Explore the goals, functions, administration hurdles, and tax implications of the top trusts in the practice. Choose the best tool for the job every time - register today!

  • Weigh all the pros and cons to select the best trust options for specific client situations.
  • Anticipate tax consequences of various trusts.
  • Use sample trust language our faculty provide to save drafting time and avoid mistakes.
  • Clarify the powers and duties of trustees in different trusts.
  • Compare living and testamentary trusts for straightforward estate planning.
  • Distinguish between accounting and taxable income and learn how trust income tax is reported.
  • Understand how recent tax laws changed the practice of marital trusts and learn when they are still useful.
  • Review common ethical missteps that can cost you your license - and how to avoid them.

Abbreviated Agenda

  1. What are Trusts? Main Trust Principles
  2. Simple Testamentary Trusts and Revocable Living Trusts
  3. Tax Reduction with Trusts
  4. Grantor Trusts
  5. Marital Trusts in a Nutshell
  6. Other Trust Structures and Issues
  7. Generation Skipping/Dynasty Trusts
  8. Charitable Trusts
  9. Special Needs Trusts (SNTs)
  10. Legal Ethics

Related Topics

Product ID 99176

Credit Details

Credits Available
Credit Status Total
Tennessee CLE Approved 6.7 Total
Select Jurisdiction
CLE

Agenda

All times are shown in

  1. What are Trusts? Main Trust Principles

    1. Trust Terms, Concepts, and Definitions
    2. Key Parties in a Trust and Their Roles
    3. The Laws of Trust Creation and Administration (UTC, UPA, UPIA, etc.)
    4. Trust Revocability and its Implications
    5. Trust Funding Basics
    6. Creditor Rights in Regards to Trusts
    7. Does the Client Need a Trust?

  2. Simple Testamentary Trusts and Revocable Living Trusts

    1. When are Testamentary Trusts Used?
    2. Living vs. Testamentary Trusts for Tax Purposes
    3. Trust Funding Mistakes and Consequences
    4. Top Trust Administration Issues
    5. Sample Trust Language

  3. Tax Reduction with Trusts

    1. Current State and Federal Tax Regime
    2. Taxation of Trusts: Transfer and Income
    3. Accounting vs. Taxable Income
    4. Tax Consequences of Distributions
    5. Tax Implications of a Trust Becoming Irrevocable
    6. Accumulation Distribution for Some Complex Trusts
    7. Material Participation by Trusts
    8. Tax Consequences of Trusts in Estate Administration

  4. Grantor Trusts

    1. Types of Grantor Trusts and When They are Used
    2. Intentionally Defective Grantor Trusts
    3. Tax Planning, Requirements, and Consequences
    4. Trustee Powers and Duties
    5. Grantor Trust Status and Reporting
    6. Exceptions to the Rules
    7. Sample Trust Language

  5. Marital Trusts in a Nutshell

    1. When are Marital Trusts Used?
    2. Old AB/Credit Shelter Trusts After ATRA and Tax Cuts and Jobs Act
    3. Tax Planning, Requirements, and Consequences
    4. Trustee Powers, Duties, and Challenges
    5. Underfunded Trusts After First Death
    6. QDOTs for Noncitizen Spouses
    7. Exceptions to the Rules
    8. Handling Dysfunctional Client Families
    9. Sample Trust Language

  6. Other Trust Structures and Issues

    1. Minors' Trusts
    2. IRA Trusts
    3. Pet Trusts
    4. Medicaid Trusts
    5. Asset Protection Trusts
    6. Irrevocable Life Insurance Trusts
    7. Incomplete Non-Grantor Trusts
    8. Gun Trusts
    9. Trust Decanting, Modification, and Dissolution
    10. Smaller Estate Trusts
    11. Constructive Trusts

  7. Generation Skipping/Dynasty Trusts

    1. GST Tax and Other Tax Considerations
    2. When are Dynasty Trusts Used?
    3. Trustee Powers and Duties and Administration Challenges
    4. Exceptions to the Rules
    5. Sample Trust Language

  8. Charitable Trusts

    1. When are Charitable Trusts Used?
    2. CRTs vs. CLTs
    3. Tax Planning, Requirements, and Consequences
    4. Trustee Powers and Duties and Administration Issues
    5. Exceptions to the Rules
    6. Charitable Planning in Smaller Estates
    7. Sample Trust Language

  9. Special Needs Trusts (SNTs)

    1. When are SNTs Used? (SNTs vs. ABLE Act Accounts)
    2. Types of SNTs
    3. Tax Consequences of SNTs
    4. Preserving Benefits Eligibility
    5. Trustee Powers and Duties (What Can the Distributions be Used for?)
    6. Sample Trust Language

  10. Legal Ethics

    1. Who Is Your Client? The Most Important Question in Trusts Practice
    2. Top Legal Malpractice Risks
    3. Testator Capacity Issues
    4. Dealing with Trust Beneficiaries
    5. Protecting Confidentiality
    6. Preventing Fiduciary Misconduct

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

David E Heller
David E.
Heller
Martin, Heller, Potempa & Sheppard, PLLC
Henry D Fincher
Henry D.
Fincher
Henry D. Fincher, Attorney at Law
S. Brad Dozier
S. Brad
Dozier
Law Office of S. Brad Dozier
Alan L Cates
Alan L.
Cates
Husch Blackwell LLP
Aaron Morales
Aaron
Morales
Cook Tillman Law Group
Russell Cook
Russell
Cook
Cook Tillman Law Group
Paul S Parker
Paul S.
Parker
Dodson Parker Behm and Capparella PC
Claiborne K McLemore III
Claiborne K.
McLemore, III
McLemore & Rollins
Speaker bio
David E Heller

David E. Heller

Martin, Heller, Potempa & Sheppard, PLLC
David Heller

is an attorney with the Nashville law firm of Martin, Heller, Potempa & Sheppard, PLLC where he concentrates his practice in the areas of estate planning and probate; including asset protection planning for high-net-worth individuals, business succession planning, charitable planning, and generation skipping planning. He serves on several boards and committees of nonprofit organizations in the Nashville area, and is a member of the Tennessee and Nashville bar associations. Mr. Heller earned his B.S. degree from Carnegie-Mellon University, his J.D. degree from Widener University School of Law, and his LL.M. degree in tax law from Georgetown University Law Center.

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Speaker bio
Henry D Fincher

Henry D. Fincher

Henry D. Fincher, Attorney at Law
Henry Fincher

is a certified civil trial specialist, a certified family law specialist, and a certified elder law attorney recognized by the National Board of Trial Advocacy and the National Elder Law Foundation. A former judge, former state representative, and graduate of Harvard Law School, Mr. Fincher has helped people with their legal problems for more than 30 years. He is a fellow of the American Bar Foundation and a member of the Million Dollar Advocates. Mr. Fincher's practice focuses primarily on contested estates, serious personal injury cases, family law, wills and trusts, and other complex legal matters. He is a member of the New York State Bar Association and the Tennessee Bar Association. Mr. Fincher earned his B.A. degree, with highest honors, from the University of Tennessee; and his J.D. degree from Harvard Law School.

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Speaker bio
S. Brad Dozier

S. Brad Dozier

Law Office of S. Brad Dozier
S. Brad Dozier

is an attorney and solo practitioner at the Law Office of S. Brad Dozier. His primary areas of practice are estate planning, including advanced trust and asset protection planning strategies, drafting and execution of simple wills and powers of attorney, probate administration, and guardianship and conservatorship. Mr. Dozier earned his bachelor's degree from Tennessee Tech University, his certified financial planning certificate from American College, and his J.D. degree from Nashville School of Law. He is admitted to practice law in Tennessee.

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Speaker bio
Alan L Cates

Alan L. Cates

Husch Blackwell LLP
Alan Cates

is of counsel in the Chattanooga office of Husch Blackwell LLP. He focuses his practice on investment management and private wealth matters. Mr. Cates has decades of comprehensive legal experience. He has guided individuals and their businesses in estate planning and business succession planning. Mr. Cates has represented individual and institutional executors and trustees in virtually all sorts of litigation matters, both as defense counsel and initiating action. He has also represented taxpayers in administrative proceedings and in courtrooms and provided critical services to tax-exempt organizations. Mr. Cates earned his B.S. and J.D. degrees from the University of Tennessee. He is a member of the American College of Trust and Estate Counsel, Chattanooga Bar Association, Chattanooga Tax Practitioners, and Tennessee Bar Association.

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Speaker bio
Aaron Morales

Aaron Morales

Cook Tillman Law Group
Aaron Morales

is an attorney with Cook Tillman Law Group in Brentwood, Tennessee. He practices in the area of estate planning. Mr. Morales earned his B.A. degree from California Polytechnic State University, San Luis Obispo; and his J.D. degree from Golden Gate University, School of Law, San Francisco. He is licensed to practice law in Tennessee and California.

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Speaker bio
Russell Cook

Russell Cook

Cook Tillman Law Group
Russell Cook

is a founder and partner in the Cook Tillman Law Group in Brentwood, Tennessee. He is the first attorney to be recognized as an estate planning specialist by the Tennessee Board of Certification and Specialization, and holds the accredited estate planner and estate planning law specialist designations with the National Association of Estate Planners and Councils. Mr. Cook earned his B.A. degree from the State University of New York at Albany and his J.D. degree from American University, Washington College of Law, Washington, District of Columbia. He is a member of the National Association of Estate Planners and Councils, Middle Tennessee Estate Planning Council, and Tennessee Bar Association.

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Speaker bio
Paul S Parker

Paul S. Parker

Dodson Parker Behm and Capparella PC
Paul Parker

is a shareholder in the Nashville law firm of Dodson Parker Behm and Capparella PC, practicing in the areas of estate planning and probate, tax, small business, and corporation law. He has been practicing law for more than 30 years. Mr. Parker started his legal career as a tax attorney with the accounting firm of Ernst & Young, and then worked in the trust department of Commerce Union Bank (now Bank of America). He sits on tax committees for the Tennessee and Nashville bar associations. Mr. Parker earned his B.A. degree, cum laude, from Cornell College; and his J.D. degree from Vanderbilt University.

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Speaker bio
Claiborne K McLemore III

Claiborne K. McLemore, III

McLemore & Rollins
Claiborne McLemore

is an attorney with the Nashville law firm of McLemore & Rollins, where he focuses his practice on representing closely held businesses and their owners, including dealing with the estate planning issues of those individuals. He earned his B.A. degree from Emory University and his J.D. degree from Vanderbilt University. Mr. McLemore has spoken to various groups on areas related to his practice. He is a member of the Tennessee Bar Association.

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In the unlikely event that NBI cancels or reschedules an upcoming program, each registered attendee will be contacted via email by a representative of NBI. Outreach to attendees begins as soon as NBI is made aware that a program will not move forward at its originally scheduled date and time.
Are multiple attendee discounts available?
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.
When will the OnDemand be available and how long will I have access to the content?
The OnDemand Video will be available to stream within 14 days of live broadcast date. You will have access to the content for 6 months in your account. If you’re a subscriber, you’ll have access to your course recordings until 7 days after the expiration date of the subscription.
What is included with my course purchase?
When you enroll prior to the live event date you will receive access to the live-streaming webinar which will allow you to interact with faculty in real-time. With each course, you will receive access to the content via OnDemand Streaming and the Video Download. Course reference materials are included with each course purchase in a downloadable PDF format.
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Yes, we'll email you a certificate of completion and store in your account for any future reporting needs.
Can multiple people watch courses and request credit?
While only paid registrants can receive continuing education credit for attending, there are no limitations to the number of viewers at each connection.

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