Drafting Effective Trust Documents

advanced legal training institute presents…

Agenda for Advanced Legal Training Institute Seminar entitled:

“DRAFTING EFFECTIVE TRUST DOCUMENTS”

• Overview of Seminar, Presenter & MCLE Credit
• Critical Issues on the Agenda & Course Outline
• VideoDVD Description

Overview of Seminar, Presenter & MCLE Credit
Seminar Title:“Drafting Effective Trust Documents”

Seminar Leader: Francis Burton Doyle, Esq., WealthPLAN

MCLE: 6.5 Credit Hours, including 1.5 Credit Hours of Legal Ethics (CalBar Approved Provider No. 13751)
(2- VideoDVD Set + Seminar Workbook) $350.

Explore all the trust options available for your clients! This program is a hands-on, interactive program where you get a chance to design and draft trusts in the classroom. Learn what to do (and not to do) when selecting and drafting a revocable trust to avoid all the common mistakes. Learn how to choose the most beneficial vehicle for preserving your client’s wealth; understand the purpose behind various types of irrevocable trusts. Don’t reinvent the wheel—modify our sample trust documents and use our drafting tips to create airtight trusts.

This 1-Day MCLE seminar reveals exactly how to draft an effective trust that includes every aspect of tax planning and the most powerful strategies and techniques to help you provide your clients with the full spectrum of wealth preservation options. and the program also explores all of the trust options available for your clients too. Advanced Legal Training Institute is a State Bar approved MCLE sponsor (CalBar Approved Provider No. 13751) and this seminar, upon completion, qualifies for 6.50 MCLE credithours (including 1.5 credit hours of Legal Ethics).

Critical Issues on the Agenda & Course Outline
Seminar Title:“Drafting Effective Trust Documents”

Seminar Outline
I. Overview and Fundamentals
A. PC §15200 et seq
B. The Tax Analytical Matrix
Income
Gift
Estate
GST
CA Real Property

II. The Tax Objectives of Trust Planning
A. Income Tax Objectives
Income splitting
Deferring Realization and Recognition of Capital Gain
Income tax “neutral transactions”
Tax-free accumulation and compounding of income

B. Gift Tax Objectives
Utilization of the IRC 2503 Exclusions
Leveraging the $1,000,000 federal gift tax exemption
Preventing a taxable gift by using “bona fide” transactions
Filing federal gift tax returns

C. Federal Estate Tax Objections
Preventing includibility in a Decedent’s Estate
Dealing with the IRC 2036 Issue

D.Generation Skipping Tax Planning
Maximizing the Use of the GST Exemption
Preventing the Incidence of a GST Taxable Event

E. California Real Property Tax Issues
Inter-spousal transfers
Transfers to and from entities
Parent Child Exclusion

F. Asset Protection Principles Applicable to Revocable Living Trusts
Lifetime trusts
a. Fundamentals Prob. Code Section §15300 et seq (Spend Thrift, Support & Trustee Discretion)
b. Impact of Powers of Appointment
General Power of Appointment
Limited Power of Appointment
c. Community Property and Family Law Principles
Proper characterizations and avoiding inadvertent transmutations
Applicable Family Code provisions

III. Drafting the Dispositive Provisions of a Trust
1. Impact of current Federal Tax Legislation
Marital Planning
Marital Trusts
Exemption Trusts
Qualified Domestic Trusts
Spousal desire to control ultimate disposition of one half of community property and all of separate property

2. Specific Provisions
QTIP
Exemption Trust
QDOT
Spousal Disclaimer Trust

3. Protective Trusts for Children and Issue
A. GST Implications Applicable to Children’s Trusts; the GST Exemption and Non-Exempt Shares
B. Drafting “Sprinkling Trust” Provisions
Trustee discretion Probate Code §16080 and §16081
Drafting to Abrogate Trustee’s general duty to trust beneficiaries equally
Standard of invasion the “ascertainable standard” relating to health, education, maintenance, and support
Incentive trusts and more specific guidelines for distribution
General rules pertaining to class gifts
Define the class
Open and close the class
Specify interest or proportion of evaluation class member
Where a Trustee is also a permissive beneficiary

C. Drafting Separate Share Trust Provisions
Dividing the trust into shares “then living issue by right of representation”
Continued administration of a child’s trust share
Asset protection features
GST planning
Exempt vs. non-exempt
Importance of Power of Appointment (limited vs. general)

D. Drafting Contingent Disposition Provisions and Charitable Gifts

E. Provisions Relating to Determining Principal and Income of the Trust
Determining Taxable Income
The income tax and trust accounting consequences of capital gain
Allocating Income, Capital Gain and Expenses
The problem of underproductive income

IV. Drafting Effective Administrative Provisions
Appointment of Trustees and Successor Trustees
Modifying the Trustee’s Standard of Care—the average person vs. the professional fiduciary and authorizing conflicts of interest
Modifying the Applicable Prudent Investor Rule
Indemnifying and Exculpating the Trustee
Modifying the Trustee’s duty to account and report to beneficiaries and settling the accounts of the Trustee
Providing clear direction regarding Trustee compensation
Trustee Resignation, Removal and Appointment of Successor Trustees
Vesting Power and Authority in the Trustee

V. Conveying Assets to the Trust and Drafting Provisions Pertaining to Community Property
§115200 (a) language “Trustor declares holding assets on schedule A (or other schedule) subject to terms of trust
Characterizing community and separate property, language stating that there is no transmutation
Reference to Family Code re: provisions pertaining to Revocable Living Trusts

VI. General Administrative Provisions
‘No Contest Clause’- old law vs. new law, impact of being a “protected document“ and the advisability and viability of “No Contest Clauses” under the new law
Additions to Trusts
Notice Provisions
Spendthrift Provisions /PC §153000 to §15309, the statutory scheme
Choice of Law
Trust Protector Provisions
Additions to Trust
Combination with Similar Trusts
Disclaimers
Definitions

VII. Ethical Considerations
Who is Your Client?
Confidentiality in Third-Party Communications
Assessing the Client’s Capacity
Avoiding Fraudulent Transfers
Conclusion and Summary

Seminar Title:“Drafting Effective Trust Documents”
Seminar VideoDVD Description

This seminar package includes a complete set of pre-recorded VideoDVDs (studio quality recording) of the live 8-hour seminar with case studies, Q & A and the latest legal updates in the practice of estate planning and trust administration. Advanced Legal Training Institute is a State Bar approved MCLE sponsor (CalBar Approved Provider No. 13751) and this seminar, upon completion, qualifies for 6.50 MCLE credit hours (including 1.5 credit hours of Legal Ethics).

CLICK HERE to Order/Purchase the Seminar Package entitled: “Drafting Effective Trust Documents”

E-MAIL us with questions or call (650) 960-3772

Your Instructor
Francis B. Doyle, Esq., WealthPLAN, the presenter, is a member of the State Bar of California and is certified by the California State Bar as a specialist in taxation law and probate, estate planning and trust law. In addition, Mr. Doyle is a frequent lecturer for Lorman Education and National Business Institute (NBI). Mr. Doyle is the founder of WealthPLAN and brings over 30 years of experience in tax, estate planning, probate and trust administration. He is also a professor at Lincoln Law School of San Jose, where he teaches the wills and trusts and real property courses and is a member of the Academic Standards Committee. Mr. Doyle is past president of the Santa Clara County Estate Planning Council. He is Chair, Planning Committee, Annual Jerry A. Kasner Estate Planning Symposium, Santa Clara University, School of Law. Mr. Doyle presently serves on the Santa Clara University Planned Giving Committee, the Diocese of the San Jose Planned Giving Committee and the Notre Dame High School Endowment Committee. Mr. Doyle is the past president of the Silicon Valley Planned Giving Council and past chair of Planned Giving for the Foundation for Hope. Mr. Doyle received his B.A. degree from Santa Clara University, his J.D. degree from the University of San Francisco Law School and his M.S. degree in taxation from Golden Gate University. Prior to founding WealthPLAN, he was a shareholder at a large San Jose law firm, where he specialized in tax and estate planning, trust administration and trust litigation.

Seminar Workbook and Written Materials
As a registered participant, you will receive a professionally prepared manual with each seminar recording. The comprehensive Seminar Workbookcontains both forms and practical exercises to help you learn and remember everything that is covered during the seminar. It is a valuable reference tool designed to help you understand the concepts and nuances of the integrated estate planning process from start to finish.

Continuing Education Credit
Advanced Legal Training Institute is a State Bar approved MCLE sponsor and each course qualifies for 6.50 MCLE hours. Please remember to indicate your license number, ID or other necessary information on the online order form, as this will ensure timely reporting of continuing education credit. The State Bar of California has approved each seminar in the Integrated Estate Planning Seminar Series for 6.50 Credit Hours of MCLE credit, including 1.5 Credit Hours of Legal Ethics.

Each program (4-CD Audio Recording(s) in the Integrated Estate Planning Seminar Series is approved for 6.5 Credit Hours MCLE including 1.5 Credit Hours of Legal Ethics (CalBar Approved Provider No. 13751). If you purchase and study the entire 4-part Integrated Estate Planning Seminar Series, you will easily complete your 3-year MCLE requirements—(26 Credit Hours MCLE, including 6.0 Credit Hours of Legal Ethics). Each seminar recording has been edited and formatted to provide the most timely, relevant and effective continuing legal education available. Listen to your 4-CD Audio Seminar Recording (s) on your home/office computer, inside your car during commute or travel time and/or downloaded to your iPod. This set of audio recordings provides a strong foundation to both expand and enhance the practice of estate planning and trust administration.

Our Mission
Advanced Legal Training Institute is dedicated to helping attorneys meet their Continuing Legal Education (CLE) hours in a simple “All-Your-MCLE-in-a-Box” system. We offer the most relevant, state-of-the-art legal education available, including:

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