Basic Will and Trust Drafting
Schedule and Faculty
Schedule times listed below are for the live seminar. Times for replays may differ due to varied start times and abbreviated lunch and break periods. Please refer to the DATES/LOCATION tab for individual replay start times.
8:30 – 9:00 a.m.
CHECK-IN & CONTINENTAL BREAKFAST
9:00 – 9:15 a.m.
Seminar Overview
Seminar chair Patrick J. Gallagher will give an overview of how each of today’s topics fits into your will and trust drafting practice.
– Patrick J. Gallagher, Ginkel & Gallagher, Woodbury
9:15 – 10:00 a.m.
The Initial Client Interview and Planning with the Effects of Probate in Mind
How to prepare for the first meeting, discussing your fees, ethical considerations, educating your client on key concepts, asking the right questions, and developing a plan.
– Robert J. Lawton, Jr., Ginkel & Gallagher, Woodbury
10:00 – 11:00 a.m.
Incapacity Planning
This session will discuss the tools available for planning for incapacity, including Powers of Attorney for property and finances, Health Care Directives for health care decision-making, Guardianships and Conservatorships, Revocable Trusts, and other common tools. Specific issues to be addressed include:
the purpose and common use of each tool
alternatives for an incapacitated client
common problems
dangers of misuse
how the various tools are made legal
who should be named as an agent
and validity in other states/countries
– Tara D. Mattessich, Moore Costello & Hart PLLP, Saint Paul
11:00 – 11:15 a.m.
BREAK
11:15 a.m. – 12:15 p.m.
Drafting the Basic Will
An overview of common and essential clauses for wills. Example clauses will be reviewed against the statutes to help you analyze the effect of certain common will language, and what happens if you rely on the statutory default provisions.
– Joel A Sommers, Maslon Edelman Borman & Brand LLP, Minneapolis
12:15 – 1:15 p.m.
LUNCH (on your own)
1:15 – 2:45 p.m.
Drafting the Basic Trust
What are the fundamental considerations in drafting the basic trust? Is it revocable, irrevocable, inter vivos, testamentary? When do you need to use a revocable trust to achieve your client’s estate planning goals? What are some common issues encountered in the drafting process? Now that it is set up, how do you fund the trust?
– Matthew J. Shea, Gray Plant Mooty PA, Minneapolis
2:45 – 3:00 p.m.
BREAK
3:00 – 3:30 p.m.
A Tax Primer for the Estate Attorney
Fundamental tax considerations that need to be accounted for in the estate planning and drafting process. A review of the significant issues from an issue-spotting perspective – learn to recognize larger issues when you see them, what methods to use to evaluate assets, and what common tax issues arise in the estate planning process.
– Cameron R. Seybolt, Fredrikson & Byron PA, Minneapolis
3:30 – 4:00 p.m.
Question and Answer Panel with the Presenting Attorneys
– Patrick J. Gallagher, moderator