NY Specific

Trusts, Estates & Probate

4.67

Trusts in New York From A to Z

Credits Available
Credit Status Total
Connecticut CLE Approved 6.5 Total
New York CLE Approved 8 Total
Pennsylvania CLE Approved 6.5 Total
OnDemand
6 hours 25 minutes
Joseph Marra
Michael Zapson
James Reddy
Kristin Canty
With Joseph A. Marra from The Law Offices of Joseph A. Marra + 3 others
Recorded November 13, 2024
Product ID 99411

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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 99411

Credit Details

Credits Available
Credit Status Total
Connecticut CLE Approved 6.5 Total
New York CLE Approved 8 Total
Pennsylvania CLE Approved 6.5 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

Joseph A Marra
Joseph A.
Marra
The Law Offices of Joseph A. Marra
Michael G Zapson
Michael G.
Zapson
Certilman Balin Adler & Hyman LLP
James D Reddy
James D.
Reddy
James D. Reddy, P.C.
Kristin A Canty
Kristin A.
Canty
Kristin A Canty Attorney at Law
Speaker bio
Joseph A Marra

Joseph A. Marra

The Law Offices of Joseph A. Marra
Joseph Marra

founded The Law Offices of Joseph A. Marra, a four attorney practice, in 1988. He practices in the areas of estate and Medicaid planning, wills, trusts and estates, probate, elder law, personal injury, business law, criminal law, real estate and family law. Mr. Marra is admitted to practice in the states of New York and New Jersey, all federal district courts in those states, as well as the U.S. Tax Court and the U.S. Supreme Court. He is a member of the Yonkers, Westchester County and New York State bar associations; Columbian Lawyers Association; and other community organizations. Mr. Marra served for nine years as a trustee and vice president of the Board of Education for the Somers Central School District in Somers, New York. He earned his B.B.A. degree in accounting, cum laude, from Iona College; his J.D. degree from St. John's University School of Law; and his L.L.M. degree in taxation from New York University School of Law, Graduate Division. Mr. Marra has been elected as town judge for the town of Somers Justice Court for a four-year term commencing January 1, 2024.

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Speaker bio
Michael G Zapson

Michael G. Zapson

Certilman Balin Adler & Hyman LLP
Michael Zapson

is a partner at Certilman Balin Adler & Hyman LLP. He concentrates his practice in the areas of commercial and estate litigation, real estate, and zoning. Mr. Zapson represents real property owners, national companies, developers, purchasers, REITs, lenders and brokers. He regularly deals with estate and probate tax issues. Mr. Zapson also assists with estate planning tax issues. He is a member of the Long Beach Lawyer's Association, Nassau County Bar Association, and New York State Bar Association. Mr. Zapson is admitted to practice in New York and Washington D.C.; and before the U.S. District Court for the Southern, Eastern and Northern districts of New York. He earned his B.A. degree from Cornell University and his J.D. degree from the State University of New York at Buffalo.

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Speaker bio
James D Reddy

James D. Reddy

James D. Reddy, P.C.
James Reddy

is a sole practitioner in Lindenhurst, New York (Suffolk County), where his main areas of practice are trusts and estates, real property, and family law, mostly in the litigation area, both at the trial level and appellate level. Mr. Reddy has litigated numerous deed contests, will contests, trust litigations, divorces, child custody disputes, and other related matters over the past two decades. He has presented many seminars for National Business Institute in the areas of estate planning, and recently presented an National Business Institute seminar on complex custody and support issues. Mr. Reddy earned his B.S.B.A. degree from Georgetown University and his J.D. degree, cum laude, from St. John’s University School of Law.

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Speaker bio
Kristin A Canty

Kristin A. Canty

Kristin A Canty Attorney at Law
Kristin Canty

, partner of Donohue, O'Connell & Riley PLLC's Pearl River office, advises clients on how to navigate the complexities of estate planning, elder law and estate administration, to provide the best protection available. Ms. Canty is admitted to practice in New York and New Jersey, and is a member of the New York State Bar Association. She earned her B.A. degree from the University of Richmond and her J.D. degree from Rutgers University School of Law, Newark.

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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.
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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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