Mary Akkerman practices in estate planning, including dynasty trusts, domestic asset protection trusts, estate and trust administration, guardianships and conservatorships, business and tax planning, estate and gift tax planning, tax appeals, and related litigation.
On-Demand: November 16, 2021
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Revocable living trusts are a staple of basic estate planning. But the revocable living trust can be used for sophisticated planning as well. This CLE covers everything from the beginner elements of revocable living trust planning to the more customized drafting options that planners can incorporate into a revocable living trust plan.
This course is co-sponsored with myLawCLE.
Key topics to be discussed:
Date: January 19, 2023
Mary Akkerman | Davenport, Evans, Hurwitz & Smith LLP
Mary Akkerman practices in estate planning, including dynasty trusts, domestic asset protection trusts, estate and trust administration, guardianships and conservatorships, business and tax planning, estate and gift tax planning, tax appeals, and related litigation. She is skilled at establishing public and private trust companies in South Dakota and regularly works with U.S. and international families and advisors. Mary is an American College of Trust and Estate Counsel (ACTEC) Fellow. She is a member of the Society of Trust and Estate Practitioners and Sioux Falls Estate Planning Council.
Mary has received an AV Preeminent® Peer Review Rating by Martindale-Hubbell®, for the highest level of professional excellence for legal knowledge, communication skills and ethical standards. She has a Band 1 individual ranking in the Chambers High Net Worth Guide by Chambers and Partners in the area of Private Wealth Law, and is listed in The Best Lawyers in America© in Trusts & Estates. Mary has also been ranked in the top 5% of practicing attorneys in South Dakota by Great Plains Super Lawyers in the areas of Estate Planning & Probate.
I. Explanation of trust basics | 2:00pm-2:20pm
II. Available revocable trust planning options | 2:20pm-2:40pm
a. Marital deduction planning
i. Outright gifts
ii. Marital trusts
1. Qualified Terminable Interest Trusts
2. General Power of Appointment Trusts
iii. Qualified Domestic Trusts
b. Special needs trusts
c. Supplemental needs trusts
d. Charitable planning options
e. Other sophisticated options
III. Tax Aspects | 2:40pm-3:00pm
Break | 3:00pm-3:10pm
IV. Ethics | 3:10pm-4:10pm
a. Legality of Medicaid Planning
b. Identifying your client
c. Confidentiality requirements
d. Attorney-client privilege
e. Clients with diminished capacity
f. Americans with Disability Act
g. Emergency legal services
h. Declining or terminating representation
i. When your client is an estate or trust
j. Conflicts of interest
k. Representing multiple parties
l. Representing a client acting in multiple capacities
m. Special rules for drafting estate planning documents