UNDERSTANDING TRUSTS: PRACTICAL ADVICE FOR CREATING AND ADMINISTERING A TRUST
On Demand Seminar
ITEM #:  1730392101   |   EVENT CODE:  321723    |   CREDIT STATUS:  APPROVED
STANDARD PRICE
$245.00
MSBA MEMBER, NEW LAWYER, AND OTHER DISCOUNTS, IF APPLICABLE, WILL BE APPLIED DURING CHECKOUT.

ONLINE

Available 24/7

To claim CLE credit, view by:  August 27, 2022

Through December 31, 2023, Minnesota-licensed attorneys can satisfy continuing legal education requirements by viewing and reporting up to 30 credits of on demand programming. Effective the first reporting period after January 1, 2024, there is no limit. Depending on the jurisdiction in which you practice, you may or may not be able to claim credit for viewing this on demand seminar. Please check with your licensing agency for accreditation information.

Understanding Trusts

Practical Advice for Creating and Administering Trusts

Originally presented:  July 28, 2020     |     Course length:  6.25 hours


This course is designed to provide you with the practical advice and in-depth knowledge to further your understanding of trust law.

  • Take away guidance as to when, why, and how to use a trust.
  • Receive insights into Minnesota-specific trust issues.
  • Understand the intricacies, purposes, advantages, and disadvantages of using different types of trust vehicles.
  • Seek solutions to common problems that arise during the administration of a trust.
  • Take advantage of the speakers’ experience in avoiding common pitfalls.

Includes Free Bonus Materials (provided electronically):

  • Trust Administration Checklists for an Individual Trustee Legal QuickSheetTM
  • Updated Trusts Legal QuickSheetTM

Welcome & Introduction  (5 MINUTES)
– Thomas H. Rauenhorst, Course Co-Chair
– Michael P. Sampson, Course Co-Chair

Beyond the Basics: An Introduction to Trusts with a Look at State Specific Matters  (90 MINUTES)
This practical easy-to-understand session starts with the basics of trust law, including definitions, use, benefits and funding. The basics are followed by a look at statespecific formula gifts, stand-alone QTIP trusts, and other Minnesota-specific trust matters. The session also explores how the Uniform Trust Code provides flexibility for planners, trustees, and beneficiaries and practical ways to use the available tools.
– Thomas H. Rauenhorst & Michael P. Sampson

Learn the Ins and Outs: Irrevocable Trusts  (45 MINUTES)
Irrevocable trusts are important estate planning tools, but require careful preparation. This session will cover: when to recommend an insurance trust; how the insurance trust escapes estate taxation; applicable federal requirements and other considerations for gift trusts plus special pointers on cabin trusts. Learn the advantages and disadvantages for using irrevocable trusts compared to other trust vehicles.
– Jennifer Santini & Jayne Sykora

A Trust that Supports: Supplemental and Special Needs Trusts  (60 MINUTES)
Supplemental and special needs trusts are established to benefit a person with a disability by supplementing the government benefits they receive. Learn the differences and uses of these two trusts. The session will address drafting and funding considerations as well as issues regarding administration.
– Lori L. Guzmán

Grasping the Fundamentals: Revocable Trusts  (90 MINUTES)
Revocable trusts are the most common trust vehicle. Learn how to explain them to your clients in a manner that helps them understand how to accomplish their estate planning goals using a revocable trust. Learn drafting tips for avoiding common issues that arise with revocable trusts.
– Courtney A. Grimsrud & Alison J. Midden

Administration of Trusts: Major Issues, Opportunities, and Pitfalls Post-Trust Formation  (90 MINUTES)
This panel will feature a discussion on how to effectively administer a trust once it has been created. Learn about major issues with administration, the common problems that arise with trusts, and how to fix problems that arise after establishing the trust.
– Cindy R. Costello, Courtney A. Grimsrud & Michael P. Sampson
– Thomas H. Rauenhorst, moderator

$245

Other discounts that may apply:

Scholarships available!
Need-based scholarships are available for in-person and online seminars. For further information or to obtain a scholarship application, contact us at 800-759-8840 or customerservice@minncle.org.

Minnesota CLE has applied to the Minnesota State Board of CLE for 6.25 CLE credits. The maximum number of total credits attendees may claim for this program is 6.25 credits.

Depending on the jurisdiction in which you practice, you may or may not be able to claim credit for viewing this on demand seminar. Please check with your licensing agency for accreditation information.

STANDARD PRICE
$245.00
MSBA MEMBER, NEW LAWYER, AND OTHER DISCOUNTS, IF APPLICABLE, WILL BE APPLIED DURING CHECKOUT.
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