THE INSTITUTE FOR WILLS AND ESTATE EDUCATION

TRUST DRAFTING


1.            Trusts vs Outright Gifts (10 mins)

Ø  Explaining the difference to clients in plain language

Ø  General Pros and Cons to using Trusts and explaining them to clients in plain language

2.            General Issues in Trust Drafting (50 Mins)

Ø  Using a Roadmap

Ø  Selecting Trustees

Ø  Beneficiaries

                                          i.    Primary

                                         ii.    Contingent

                                        iii.    Remaindermen

                                       iv.    Capital and Income Beneficiaries

Ø  Class Closing

                                          i.    when the class opens

                                         ii.    when the class closes

Ø  Survival Dates

Ø  Income Accumulation

Ø  Gift Overs

Ø  Administrative Provisions

3.            Spousal Trusts  (20 mins)

Ø  Qualifying Spousal Trusts

Ø  Avoiding inadvertent tainting of trust in administration provisions

4.            Henson Trusts (20 Mins)

Ø  Discussing the benefits with clients in plain language

Ø  When can they be used?

Ø  Specific drafting tips and traps

Ø  Avoiding gift overs to Henson Trust beneficiaries

5.            Testamentary Trusts for adult beneficiaries (20 Mins)

Ø  Discussing the benefits with clients in plain language

Ø  When to recommend

Ø  Specific drafting tips

6.            Trusts for Minors (20 Mins)

Ø  Using staged distributions properly

Ø  Precatory guidance for trustees

Ø  Building in flexibility for trustees

7.            Professional Issues (20 mins)

Ø  Managing client expectations regarding fees and services to be provided

Ø  Avoiding potential liability through reporting letters and note taking


8.            Question and Answer Period (20 mins)