The ABC’s of Trusts: Essential guide for attorneys

R. Lance Pruitt

Prior to his current employment, Mr. R. Lance Pruitt practiced law for several years, concentrating his practice in the areas of estate and tax planning, tax litigation, estate administration, and corporate law. Mr. Pruitt earned his B.S. degree from the University of Tennessee at Knoxville, his J.D. degree from Southern Illinois University School of Law, and his LL.M. degree in taxation from the University of Missouri-Kansas City School of Law. Mr. Pruitt was also an adjunct professor for several years at Tusculum College (Knoxville campus) where he taught Business Law.

I. Trust Planning 101 | 10:00am – 11:40am

• Importance of Trusts in Estate Planning | 10:00am – 10:10am
• What Is a Trust? | 10:10am – 10:25am
• Roles and Parties Involved (Settlor/Grantor, Trustee, Beneficiary) | 10:25am – 10:35am
• Types of Trusts (Revocable vs. Irrevocable) | 10:35am – 10:45am
• Benefits of Trusts | 10:45am – 11:00am

Break | 11:00am – 11:10am

• Creating and Funding a Trust | 11:10am – 11:25am
• Pitfalls and Considerations | 11:25am – 11:40am

II. Master the Mechanics of Different Types of Trusts | 11:40am – 1:20pm

• Revocable Living Trusts | 11:40am – 11:55am
• Irrevocable Trusts | 11:55am – 12:10pm

Break | 12:10pm – 12:20pm

• Life Insurance Trusts | 12:20pm – 12:40pm
• Asset Protection Trusts | 12:40pm – 1:00pm
• Testamentary Trusts | 1:00pm – 1:20pm