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Preview: Lorman Estate Planning Teleconferences

Lorman Estate Planning Teleconferences

Industry Leading & Respected Continuing Education

Last Build Date: Thu, 21 Sep 2017 11:30:02 GMT


Best Practices for Drafting Buy-Sell Agreements Among Shareholders or Members

Thu, 21 Sep 2017 02:00:28 America/Chicago

October 17, 2017

Conflicts Issues

• How Many Hats Can You Wear?

• Solutions, Both Theoretical and Practical


• Control Ownership

• Anticipate Transition Events

• Establish Valuation Methods

• Allocate Control

Restricting Transfers/Permitting Transfers

• Individual vs. Entity Owners

• Death or Disability

• Third Party Transfers

• Owners as Employees

• Special Situations

• Addressing Transfer Restrictions in Company Sales

Valuation and Mechanics

• Formula vs. Appraisals vs. Agreement

• Who Buys and Who Sells?

• Mandatory vs. Permissible

• Rights of First Refusal

• Payment Provisions

Funding a Buy-out

• Buyer-Financed

• Seller-Financed

• Using Insurance and Cross-Insurance Provisions

California Asset Protection Planning

Thu, 21 Sep 2017 02:01:02 America/Chicago

November 16, 2017


• What Is Asset Protection Planning?

• Who Needs Asset Protection Planning?

Inside Liability Protection

• Existing Business Structure

• Inside Creditors

• Limitations

– Uniform Voidable Transaction Act

– Bankruptcy Limitations

– Federal and State Criminal Violations

Outside Creditors

• Claimants or Creditors

• Typical Clients


• Charging Order

• Forum Shopping

• Single Member LLCs

• Assignment of Member Interests

Domestic Asset Protection Trusts (DAPT)

• What Are the Benefits of a DAPT?

• How Do You Construct a DAPT?

• Which State Law Do You Use?

• Modular Structure Utilization

Foreign Asset Protection Trusts (FAPT)

• When Do You Use Them?

• What Are the Benefits?

• Which Jurisdiction?

• Modular Structure Utilizing LLCs

California Private Retirement Plan

• What Are They?

• How to Set up?

Case Studies

Challenges in Trust and Estate Valuation

Thu, 21 Sep 2017 02:01:07 America/Chicago

September 28, 2017

The Framework for Trusts and Estates Valuation

• Overview of Existing Law in Gift and Estate Tax Valuation

• Special Valuation Rules of Chapter 14: When Do They Apply and What Is the Impact?

The Impact of Discounting

• Common Discounts in Estate Planning and Administration

• Planner Beware: Premiums as the Inverse of Discounting

• Discount Mismatches and the Impact on Funding Gifts

Reporting Discounted Interests

• Reporting Requirements

• Reporting Risks and Penalties

Drafting and Administration of Wills for the Estate Planner

Thu, 21 Sep 2017 02:01:12 America/Chicago

November 2, 2017

Recommendations for Will Signing

Types of Wills

Sufficient Will Persons


Execution of Will

Wills, Trusts and Powers


Getting Creative With Estate Planning

Thu, 21 Sep 2017 02:00:16 America/Chicago

October 24, 2017

How to Plan for Multiple Generations and Differing Family Dynamics

• Defining Client Objectives

• A New Look at Values Based Estate Planning

• Preserving the Voice of the Testator/Grantor

• Avoiding Scenarios of Undue Influence and Potential Future Litigation

• The Importance of Lifetime Sub-Trusts for Heirs

• Role of the Trust Protector

Getting Creative With Dynasty Trusts

• Asset Protection Trusts as IDGTs

• Family Banking Provisions in Investment-Driven Vehicles

• Using Asset Protection Trusts That Actually Work

• The Role of a Private Trust Company

• Bifurcating Trustee Duties

• Using Derivatives of Carry Interest for Fund Owners

• Charitable Planning and the Dynasty Trust

Intentionally Defective Grantor Trusts

Thu, 21 Sep 2017 02:00:06 America/Chicago

October 5, 2017

Nature and Advantages of Intentionally Defective Grantor Trusts

• Grantor Trust Status

• Overview of Grantor Trust Rules

• Common Methods for Achieving Grantor Trust Status

Additional Important Features of IDGTs

• Dynastic Planning

• Drafting Flexibility Into the IDGT

• Spouse as Beneficiary

• Other Drafting Issues and Techniques

Estate Planning With IDGTs

• Gifts to IDGTs

• Sale for a Promissory Note

• Structuring the Note

• Use of Guarantees and Collateral

• Defined Value Clauses

• Comparison to Grantor Retained Annuity Trusts

Other Common Uses of Grantor Trusts in Estate Planning

• Grantor Retained Annuity Trusts (GRATs)

• Irrevocable Life Insurance Trusts (ILITs)

• Qualified Personal Residence Trusts (QPRTs)

• Grantor Charitable Lead Trusts (Grantor CLTs)

• Beneficiary Defective Irrevocable Trusts (BDTs)

Miscellaneous Other Issues

• Income Tax Reporting Issues

• Income Tax Consequences Upon Death of Grantor

• Potential Changes in the Law

Long-Term Care Planning Essentials

Thu, 21 Sep 2017 02:01:11 America/Chicago

November 21, 2017

Funding Long-Term Care

• Private Funding of Nursing Home Care

• Long-Term Care Insurance

• Veterans Benefits

– State Veterans Commission Homes

– Benefits for Home Care

– Benefits for Skilled Nursing Care

– Proposed Changes to VA Benefits

• Medicare

– Benefits for Home Care

– Benefits for Rehabilitation

– Benefits for Skilled Nursing Care

• Medicaid

– Benefits for Home Care

– Benefits for Skilled Nursing Care

Drafting Estate Planning Documents for Long-Term Care

• Special Needs Trusts for Surviving Spouses

• Spousal Transfers

• Income Only Trusts

Portfolio Management Strategies: Asset Location and Allocation

Thu, 21 Sep 2017 02:01:08 America/Chicago

October 12, 2017

Asset Allocation

• Definition and Importance in Portfolio Management

• Strategic/Broad vs. Sub-Asset Classes

• Top-Down vs. Bottom-up Portfolio Construction

• Investor Circumstances and Constraints

Asset Location

• Types of Investment Accounts

• Portfolio Income Tax Classifications and Rates

• Tax-Efficiency of Asset Classes

• Tax-Aware Asset Location and Householding

Portfolio Design, Management, and Rebalancing

• Investor Tax Profiles

• Portfolio Transition and Implementation

• Rebalancing Strategies

Recent Research and Innovation

• 'Smart Beta' and Factor Investing

• Exchange Traded Funds (ETFs)

Probate Alternatives in Estate Planning in California

Thu, 21 Sep 2017 02:01:10 America/Chicago

October 27, 2017

What Is Probate, and Why Do I Want to Avoid It Like the Plague?

• Discussion of Probate Process

• Discussion of Probate Time-Frame and Fees

Examples of Estates Possibly Triggering Probate

• Decedent Left No Will (Intestate)

• Decedent Only Left a Will

Ways to Avoid Probate in California

• Give It Away

– Yearly Gift-Tax Exclusion of $14,000

– Gifting of Property for Medi-Cal Planning

• Have a Small Estate

– Personal Property Under $150,000

– Real Estate Under $50,000

• Co-Own Property (Joint Tenancy or Community Property)

– Advantages and Disadvantages

• Spousal Property Petitions

– Advantages and Disadvantages

• Beneficiary Designations

– Retirement Accounts

– Life Insurance

– 401(k)s

– 403(b)s

• Pay-On-Death (POD)/Transfer-On-Death (TOD) Designations

– Advantages and Disadvantages

• Trusts (Living Trusts, Revocable Trusts)

– Legal Mechanism to Avoid Probate

– Advantages and Disadvantages

• Heggstad Petitions

– Mechanism to Avoid Probate in Cases in Which Trust Was Not Fully Funded

• Additional Resources for the California Practitioner

– CEB Estate Planning Treatise

– LexisNexis Drafting California Wills and Trust

Special Needs Trusts: Planning and Administration Fundamentals

Thu, 21 Sep 2017 02:01:08 America/Chicago

September 26, 2017

What Is a Special Needs Trust?

• Government Benefits Overview

• Means Tested vs. Entitlement Based Benefits

• The Law Behind Special Needs Trusts

Private vs. Pooled vs. Third-Party Special Needs Trusts

• First-Party Private Special Needs Trusts

• Pooled Special Needs Trusts

• Third-Party Special Needs Trusts

An Update on Special Needs Trusts

• An Update on Able Accounts: What Are They, Who Can Establish Them and What Are Their Benefits?

• Issues Affecting Special Needs Trusts

Qualified Settlement Funds