Trusts: Key Structures and Uses [incl. 1 hour of Ethics]


CLE credits earned: 3 GENERAL / 1 ETHICS (or 3 LAW & LEGAL / 1 ETHICS for WA state)

When assessing complex information, it often helps to break items into basic building blocks. The same approach can be successful when dealing with asset protection. Be prepared for specific challenges associated with various types of trusts by understanding their unique characteristics. Determine what role the settler will play by weighing the pros and cons of establishing an irrevocable trust over a revocable trust.

•   Learn what not to do when selecting and drafting a revocable trust to avoid common mistakes
•   Learn how to choose the most beneficial vehicle for preserving your client’s wealth: understand the purpose behind the various types of irrevocable trusts
•   Explore the powers and duties of personal representatives in irrevocable trusts
•   Save money on taxes with effective use of defective trusts
•   Learn why it’s important to know when to file the tax return for grantor trusts
•   Determine whether a client qualifies as a beneficiary of a special needs trust
•   Don’t reinvent the wheel – modify our sample trust documents and use our drafting tips to create airtight trusts

This course is co-sponsored with myLawCLE.

Key topics to be discussed:

•   Where to begin? – An overview of trusts
•   Revocable Living Trusts
•   Trusts used for tax reduction
•   Grantor Trusts
•   Estate planning for the disabled
•   Ethical considerations

Date / Time: February 20, 2019

•   2:00 pm – 6:30 pm Eastern
•   1:00 pm – 5:30 pm Central
•   12:00 pm – 4:30 pm Mountain
•   11:00 am – 3:30 pm Pacific

Choose a format:

•   Live Video Broadcast/Re-Broadcast: Watch Program “live” in real-time, must sign-in and watch program on date and time set above. May ask questions during presentation via chat box. Qualifies for “live” CLE credit.
•   On-Demand Video: Access CLE 24/7 via on-demand library and watch program anytime. Qualifies for self-study CLE credit. On-demand versions are made available 7 business days after the original recording date and are view-able for up to one year.

Select your state to see if this class is approved for CLE credit.

Choose the format you want.


Original Broadcast Date: November 7, 2018

Mary Akkerman, Esq. guides clients through all aspects of fiduciary representation and 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. Mary is skilled at establishing public and private trust companies in South Dakota and regularly works with U.S. and international families and advisors on cross-border planning, non-resident alien trust formation, and international tax issues.

She was elected to the American College of Trust and Estate Counsel (ACTEC), a national organization of approximately 2,600 lawyers elected to membership by demonstrating the highest level of integrity, commitment to the profession, competence, and experience as trust and estate counselors.

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Accreditation on Formats: Live Video Broadcasts, “Live” Re-Broadcasts and On-Demand CLEs

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“Live” Re-Broadcasts
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Many states allow for credit to be granted on a 1:1 reciprocal basis for courses approved in another mandatory CLE jurisdiction state. This is known as a reciprocity provision and includes the following states: AK, AR, HI, CT, FL, ME, MO, MT, ND, NH, NM, VT, NJ, NY, and WV. myLawCLE does not seek direct accreditation of live webinars or teleconferences in these states.

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Section I. Where to Begin? – An Overview of Trusts
a) Main Terms Defined
b) Major Laws Governing Creation and Administration of Trusts
c) Who are the Main Parties? Their Duties and Responsibilities to a Trust
d) Revocable vs. Irrevocable
e) Determining Your Client’s Planning Needs
f) Reasons for Drafting a Trust
g) Deciding Which Type of Trust to Use

Section II. Revocable Living Trusts
a) Will-Based Planning vs. Revocable Trust Planning
b) Credit Shelter Trusts Today
c) Qualified Terminable Interest Trusts (QTIPs)
d) Funding the Trust
e) Drafting Tips and Samples
f) Common Mistakes to Avoid
g) Tax Consequences

Section III. Trusts Used for Tax Reductions
a) Charitable Remainder Trusts
b) Qualified Domestic Trusts
c) Qualified Personal Residence Trusts (QPRTs)
d) Defective Trusts
e) Education Trusts for Children and Grandchildren
f) Generation Skipping Trusts
g) Funding the Trust

Section IV. Grantor Trusts
a) What Grantor Trusts are Used for
b) Types of Grantor Trusts
c) Funding the Grantor Trust
d) Drafting Tips and Samples
e) Taxation Considerations
f) Administrative Power

Section V. Estate Planning for the Disabled
a) The Types of Special Needs Trusts and Their Specific Purposes
b) Who Can be the Beneficiary
c) Drafting Tips and Samples

Section VI. Ethical Considerations
a) Who is Your Client?
b) Confidentiality in Third Party Communications
c) Assessing the Client’s Capacity
d) Avoiding Fraudulent Transfers