WELCOME & INTRODUCTION  (5 MINUTES)

Course Overview  (15 MINUTES)
– Philip J. Ruce, Course Chair

Tax Primer and Review of Tax Issues that Arise in Estate Planning  (50 MINUTES)
Tax issues to be discussed include:

• Federal and State Estate and Gift Tax 
• Portability
• Federal and State Trust 1041 Income Tax
• Grantor and Non-Grantor Trust Taxation
• And more!

– Daniel R. Donovan

Estate Planning with Life Insurance – Benefits and Drawbacks  (50 MINUTES)
Life insurance plays a key role in many estate plans. It can resolve illiquidity issues, but also create additional challenges. This session will cover:

• The reasons for selecting permanent or term life insurance
• The problems life insurance policies solve and those they create
• The benefits and drawbacks of ILITs
• A description of Crummey Powers and why they matter
• The ins and outs of hanging Crummey Powers
• How life insurance fits into the broader estate plan 

– Cameron R. Kelly

Maritalized Trusts – How They Work  (45 MINUTES)
A maritalized trust plan or a disclaimer-based trust plan can reduce tax liability by maximizing both spouse’s state marital deductions. This presentation will address: 

• Credit Shelter and Disclaimer Trusts
• QTIPs and Reverse QTIPS
• The benefits and drawbacks of adding assets to a marital trust compared to giving them to the spouse outright
• How to divide the shares
• Benefits of Inter Vivos Irrevocable Trusts over Subtrusts and Testamentary Trusts
• The most common mistakes in establishing martialized trusts and how to avoid them.

– Amanda N. Juelson

IDGTS, GRATS, and SLATS – Oh My!  (50 MINUTES)
This session covers how these three trusts work and for each type of trust:

• What problems do they solve and why are they needed
• What is ideal use case for each type of trust
• Whether you should create a grantor or non-grantor trust
• What it means that a trust is “defective”
• Mechanics, key provisions, and required documents for each trust
• The most common mistakes and how to avoid them

– Matthew J. Shea & James R. Thomson

How Do Qualified Retirement Accounts Fit into the Estate Plan?  (50 MINUTES)

• What are the rules for payment of an IRA to a trust?
• How can a retirement account be used efficiently to meet charitable goals?

– Bryan Jamison

Funding Irrevocable Trusts  (50 MINUTES)
Trust funding is an essential step in estate planning. This presentation will cover:

• What happens when assets are gifted to an irrevocable trust
• How transfer to a trust impacts the asset’s cost basis
• Problems that arise during trust funding
• Challenges in titling assets
• Factors to consider when deciding whether to accumulate income in the trust or make payments to beneficiaries
• Scenarios that reveal various funding and tax outcomes

– Michael P. Sampson

Panel Discussion of Estate Planning Scenarios: Applying Trust Planning Techniques to the Estates of High-Net-Worth Clients  (60 MINUTES)
– Rachel M. Dahl, Jennifer A. Ede & Diana L. Marianetti
– Philip J. Ruce (moderator)

$295

Other discounts that may apply:

• Season Pass Discount
• On Demand Bundle Discount
• New Lawyer Discount

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 is applying to the Minnesota State Board of CLE for 6.0 standard CLE credits. The maximum number of total credits attendees may claim for this program is 6.0 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.