Ensure that your client’s estate planning is complete and avoid major pitfalls down the road.
Drafting a trust is only the beginning of a client’s estate planning process. Funding the trust is the more time-consuming and often arduous task where mistakes can easily be made. Drawing on his experiences dating back to the mid-1990’s, our presenter will explain all the steps that you need to undertake to ensure that the estate planning is complete, as well as mistakes to avoid. A very practical and hands-on webinar for all levels of practitioners.
Learning Objectives
- You will be able to identify the methods for funding a trust.
- You will be able to You will be able to identify important factors regarding Real Estate.
- You will be able to recognize success factors, as well as mistakes to avoid when transferring various accounts.
- You will be able to recognize key components in the documentation for a successful transfer.
Agenda
Methods of Funding a Trust - Four Options
- Intervivos Transfer
- Payable-on-Death Designation
- Heggstad/Restatement Listing of Assets
- Pour-Over Will
Grantor Trust Rules
Impact of Internal Revenue Code Sec. 2036
Transferring Real Estate to a Trust
- Warranty/Quitclaim Deeds
- Beneficiary (Payable-on-Death) Deeds
- Out-of-State Deeds
- Condo and Housing Cooperatives
- Mobile Homes
Bank and Brokerage Accounts
Boats
Life Insurance Policies
- 3-Year Rule
Retirement Accounts
Savings Bonds
Shares of Marketable Securities
Shares of Closely-Held Non-Public Entities
Transferring Encumbered Property
Valuations of Trust Assets
Using Certifications of Trust and Other Forms of Proof of Authority
Speakers
Thomas J. Murphy,
Murphy Law Firm, Inc.- Has been an attorney since 1982 and has been practicing law in Phoenix, Arizona since 1989
- Practice focuses on probate law, which deals with administering the estates of deceased or incapacitated persons; estate planning, which deals with wills, trusts, powers of attorney and related documents; elder law, which deals with protecting the interests of the elderly when dealing with nursing home and other health care issue as well as end-of-life issues; tax law and planning for the disabled and those with special needs
- Written nearly 100 articles that have been published in many national and state professional journals writing on a wide variety of legal and tax matters
- Has spoken to thousands of attorneys, accountants and financial advisors and has appeared on several local television and radio stations to discuss tax and legal issues affecting the elderly and their families
- A sought-after panelist for numerous nationally broadcasted seminars and webcasts for elder law attorneys; was recently selected to speak at the 2018 Aging in America conference, the largest conference of its kind in the country with over 3,000 attendees
- Served on numerous state and county bar association committees and was selected to be the State Bar representative to the Arizona Supreme Court’s Committee on Reform of Lower Jurisdiction Courts
- One of the most experienced trial attorneys in the Southwest, having been the sole or lead counsel in over 100 jury trials; has successfully litigated cases in the United States Tax Court, the Arizona Tax Court and the Arizona Board of Tax Appeals and has represented clients before all levels of the Internal Revenue Service and Arizona Department of Revenue
Who Should Attend
This live webinar is designed for attorneys, estate planners, accountants, presidents, vice presidents, tax managers, financial planners, trust administrators, and lenders.
