10/16/2024
I am pleased to announce that I will be speaking in an upcoming Strafford live video webinar, "Revocable Trust Drafting: Funding Issues, Transfers, Tax Planning, Disposition of Personal Property and Real Estate" scheduled for Tuesday, November 19, 1:00pm-2:30pm EST.
Effective use of the right type of trust can save on taxes, clarify intent, organize the transfer of assets, and simplify estate administration. Trusts and estates counsel use revocable trusts to protect assets and provide a level of flexibility to adapt to changing circumstances while also maintaining control of assets.
Revocable trusts are created when the grantor executes a trust agreement naming a trustee to administer the trust. This trust agreement will define the grantor's desires and plans for assets during the grantor's lifetime, incapacity, and at death. The grantor typically retains the right to distribute trust property, change or revoke the trust, and make discretionary distributions of income and principal. Upon the grantor's death, the property is distributed to the beneficiaries as directed by the trust agreement.
Revocable trusts can be funded at death and during the lifetime of the grantor. Funding a trust during a grantor's lifetime requires reregistering securities, real property, and other assets in the name of the trust.
Counsel must understand the legal framework and rules related to revocable trusts, requirements for transferring assets, restrictions, grantor and trustee powers, how to make distributions, and various tax considerations.
Our panel will provide estate planners a detailed analysis of key challenges and pitfalls to avoid when drafting revocable trusts. The panel will discuss the legal framework and key considerations for revocable trusts, pros and cons for grantors, funding the trust and key issues, transferring assets to the trust, dispositions of personal property and real estate, key tax planning considerations, and other issues in drafting revocable trusts.
We will discuss these and other key issues:
• What are the reasons and circumstances for utilizing revocable trusts?
• What are the key distinctions for revocable vs. irrevocable trusts?
• What are the applicable legal and tax rules to consider when utilizing revocable trusts?
• What are the best revocable trust structures and their pros and cons?
• How are revocable trusts funded and what are the challenges?
• What are the key provisions and pitfalls to avoid?
• How are these types of trusts implemented and administered?
After our presentations, we will engage in a live question and answer session with participants so we can answer your questions about these important issues directly.
I hope you'll join us.
For more information or to register >
Or call 1-800-926-7926
Ask for Revocable Trust Drafting: Funding, Transfers, Tax on 11/19/2024
Mention code: ZDFCA
Sincerely,
Louis A. Silverman, Attorney
Praesidium Law PLLC
Tempe, Ariz.
