KY Specific

Trusts, Estates & Probate

4.27

Trusts in Kentucky From A to Z

Credits Available
Credit Status Total
Indiana CLE Approved 6.7 Total
Kentucky CLE Approved 6.75 Total
Ohio CLE Approved 6.75 Total
Tennessee CLE Approved 6.67 Total
OnDemand
6 hours 29 minutes
Peter Ostermiller
Leah Morrison
A. Michelle Poss
Daniel Perry
Lane Thompson
With Peter L. Ostermiller from Peter L. Ostermiller, Attorney at Law + 4 others
Recorded February 21, 2025
Product ID 99693

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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. Special Needs Trusts (SNTs)
  7. Legal Ethics

Related Topics

Product ID 99693

Credit Details

Credits Available
Credit Status Total
Indiana CLE Approved 6.7 Total
Kentucky CLE Approved 6.75 Total
Ohio CLE Approved 6.75 Total
Tennessee CLE Approved 6.67 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. 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

  7. 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

Peter L Ostermiller
Peter L.
Ostermiller
Peter L. Ostermiller, Attorney at Law
Leah A Morrison
Leah A.
Morrison
English, Lucas, Priest & Owsley, LLP
A. Michelle Poss
A. Michelle
Poss
Law Office of Michelle Poss
Daniel A Perry
Daniel A.
Perry
Wood + Lamping Attorneys at Law
Lane M Thompson
Lane M.
Thompson
Wyatt, Tarrant & Combs, LLP
Speaker bio
Peter L Ostermiller

Peter L. Ostermiller

Peter L. Ostermiller, Attorney at Law
Peter Ostermiller

is a sole practitioner concentrating in legal ethics and professional responsibility matters. He represents attorneys in disciplinary and reinstatement proceedings, judges in judicial ethics matters, and bar exam applicants. Mr. Ostermiller has also represented parties in attorney's fee dispute proceedings, and attorneys in legal proceedings in which sanctions have been sought against the attorney. He has represented parties in attorney disqualification proceedings and counseled lawyers and law firms in their respective rights, responsibilities and duties to other attorneys and their clients. Mr. Ostermiller is a member of the Kentucky Bar Association, Louisville Bar Association and the Association of Professional Responsibility Lawyers. He served on the Kentucky Bar Association's Ethics 2000 Committee, which proposed changes to the Rules of Professional Conduct to the KBA, and resulted in the July 2009 revisions to the ethics rules. Mr. Ostermiller earned his B.A. and J.D. degrees from the University of Louisville.

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Speaker bio
Leah A Morrison

Leah A. Morrison

English, Lucas, Priest & Owsley, LLP
Leah Morrison

is an attorney with English, Lucas, Priest & Owsley, LLP in Bowling Green, Kentucky. She concentrates her practice in designing estate, asset protection, and business succession plans in a tax advantageous manner. Ms. Morrison is a member of the American, Kentucky, Louisville, and Bowling Green-Warren County bar associations. She earned her J.D. degree, magna cum laude, from the University of Louisville Brandeis School of Law; her LL.M. degree in taxation, magna cum laude, from the University of Alabama; and her B.A. degree in criminal justice from George Washington University.

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Speaker bio
A. Michelle Poss

A. Michelle Poss

Law Office of Michelle Poss
A. Michelle Poss

is a sole practitioner in Nashville. She represents clients in the practice areas of elder law; disability and probate, including estate administrations, conservatorships and guardianships; trust administrations; Social Security; and VA claims. Ms. Poss is a VA accredited attorney and a Rule 31 general civil mediator. She is licensed to practice in all Tennessee courts, and is admitted to the Tennessee Supreme Court and the U.S. Federal courts. Ms. Poss is an active member of the Nashville Bar Association, Tennessee Bar Association, and the Conservatorship Association of Tennessee. She is a former president of the Conservatorship Association of Tennessee, previous co-chair of the NBA Probate Committee, and previous board member of CASA and the St. Thomas Foundation Murfree Circle. Ms. Poss earned her B.S. degree from the Middle Tennessee State University and her J.D. degree from Nashville School of Law.

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Speaker bio
Daniel A Perry

Daniel A. Perry

Wood + Lamping Attorneys at Law
Daniel Perry

is an attorney with Wood + Lamping Attorneys at Law specializing in estate planning, tax, and business law. His estate planning experience includes handling matters related to representing executors, trustees, beneficiaries, and clients in probate and estate administration matters, including trust administration, preparing estate tax returns, and decedent income tax returns. Additionally, Mr. Perry has provided counsel on complex corporate taxation issues, private equity transactions, and a range of strategies for Medicaid planning to maximize the protection of non-exempt assets. For his business law clients, he has counseled them on corporate transactions such as M&A, joint venture formation, stock offerings, limited partnerships, and notes. Mr. Perry earned his Associate of Arts degree from Holy Cross College, his Bachelor of Arts degree from Purdue University and his J.D. degree from the University of Dayton School of Law. He is a member of the Cincinnati Bar Association, Cincinnati Bar Association Attorney Grievance Committee member, Northern Kentucky Bar Association, Kentucky Bar Association and the Tennessee Bar Association. Mr. Perry is admitted to practice in Supreme Court of Ohio, Supreme Court of Kentucky, Supreme Court of Tennessee, Supreme Court of Indiana (pending), U.S. District Court for the Southern and Northern (pro hac vice) districts of Ohio, and U.S. District Court for the District of Columbia (pro hac vice).

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Speaker bio
Lane M Thompson

Lane M. Thompson

Wyatt, Tarrant & Combs, LLP
Lane Thompson

is an attorney in the Louisville office of Wyatt, Tarrant & Combs, LLP, where he is a member of the firm's trusts, estates and personal planning service team. He concentrates his practice in the areas of estate planning, trust administration, estate tax, inheritance tax, gift tax, probate, business planning, elder law and special needs planning. Mr. Thompson earned his B.A. degree from Lindsey Wilson College and his J.D. degree from the University of Louisville Brandeis School of Law. He also has his CPA certification and is licensed in Kentucky. Mr. Thompson is admitted to practice in Kentucky, Indiana and Tennessee.

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Closed captioning is available for all Live Webinars. After you've joined the event room, you can enable closed captioning by clicking the "cc" button in the lower right of the player.
What happens if my course is cancelled?
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.
Will I receive a certificate of completion?
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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