Show navigation

Live Webinar

90-minute live streaming program
  • January 23
  • 1:00 - 2:30 pm EST

Also available as:

OnDemand Webinar
Audio & Reference Manual
MP3 Download

Fundamental Principals of Trust Administration and Role of the Trustee

January 23

Don't leave your client out to dry. Gain a thorough understanding of designing trusts and executing trust administration best practices.

Many estate plans fail to include the most useful tool in the industry - a trust. Trusts can be very useful to accomplish a client's purposes and in many cases may accomplish what a basic Will may not. However, clients fail to use trusts as part of their basic estate planning because of the perceived complexities behind the formation and administration of trusts. This topic will help advisors understand the basic principles behind the law of trusts and provide a platform that can be used to concisely explain, discuss and market the use of trusts as a complimentary tool to a client's estate planning portfolio. This material will walk you through the rules governing the formation and implementation of trusts, and will discuss the basic principles of the uniform trust code, which has been adopted by most states. As an added tool, this topic will highlight how disputes can be avoided in the future when the client has adequately and carefully thought through and appreciated the role of the trust beneficiary and the duties and obligations of a trustee. Finally, the topic will provide a very brief discussion on the general rules governing the income taxation of trusts and how it impacts the income taxation of trust beneficiaries. This information will be helpful to new and seasoned advisors who wish to properly incorporate the use of basic trust structures in a client's estate planning portfolio and will highlight pertinent issues to assist advisors in the efficient management and administration of well-established trusts.

Learning Objectives

- You will be able to describe the rules governing the formation, termination and administration of different types of trusts.

- You will be able to identify the appropriate uses and characteristics of a trust.

- You will be able to discuss the rights of trust beneficiaries and the general obligations of trustees to trust beneficiaries.

- You will be able to explain the general duties, powers and liabilities of trustees.

Topic Overview

Trust administration is a complex topic, and you must consider multiple factors to accurately and effectively advise clients. This program is designed for legal professionals seeking a more comprehensive background in trust administration principles. Upon completion, students will be better positioned to consult on these matters and to grow their practice accordingly. Some of the topics covered include:

  • Basic terminology and general principles for trust administration and management
  • The powers and fiduciary duties of trustees
  • Relations between trustees and beneficiaries, and trustees and third parties
  • Trust income tax reporting requirements under federal law
  • The role of probate courts

Upon completion, students will also be able to apply for continuing legal education (CLE) credits with their state bar association. You may also put the course towards either of two Lorman Education Services certificate programs.

For more information about the trust administration CLE course, or about the role it can play in the ongoing professional development of a lawyer or accountant, visit the Credits tab on this page or contact Lorman Education Services directly for assistance.

Training Options

This webinar is available OnDemand from Lorman Education Services. Sign up for the course today and in just a few minutes, you can access the archived slideshow and audio files to begin learning. You can also download as an MP3, or order a flash drive containing the audio files and associated reference materials.

Why Lorman?

Lorman Education Services has a more than 28-year history of delivering professional development programs for the legal industry. Our courses are up-to-date, taught and developed by experts and, most of all, they are highly accessible to busy professionals. Browse our current training offerings today, or sign up for an All-Access yearly pass for your choice of programs.

Purchase Options
Can't Attend?

More Program Information

Why Lorman?

Over 30 years and 1.4 million customers worth of experience providing continuing education. Our passion is providing you world-class training to help you succeed in business and as a professional.

Agenda

Identify Key Players
  • Grantor/Settlor/Trustor
  • Trustee, Beneficiary
  • Trust Protector/Directed Trustee
Identify the Trust Type, Beneficiaries, and Jurisdiction
  • Lifetime Trusts, Testamentary Trusts
  • Beneficiaries
  • Jurisdiction
  • Important for
Trust Modification
  • Revocable, Irrevocable
  • Jurisdiction Choice of Law
The Trustee
  • Fiduciary Duties
  • Powers
  • Succession
  • Commissions
Trust Assets
  • Real Property
  • Funds Held in Financial Institutions
  • Tangible Property
  • Now Digital Assets Be Wary
Beneficiaries
  • Revocable, Irrevocable
  • Minors
  • Class
Trust Termination and Probate Court
  • Early Termination, Final Termination
  • Lifetime Trusts vs. Testamentary Trust Termination
  • Minors
  • Class
  • Probate Court Involved at Death (See Jurisdiction) or Modification of Irrevocable Trust (See Jurisdiction)
Applicable Tax Rules
  • Income Taxation of Trusts and Beneficiaries
  • Gift
  • Estate
  • Generation Skipping Transfer
  • Income
  • Charitable Deduction
Purchase Options
Can't Attend?

More Program Information

Why Lorman?

Over 30 years and 1.4 million customers worth of experience providing continuing education. Our passion is providing you world-class training to help you succeed in business and as a professional.

Credits

OnDemand Webinar

This course was last revised on January 23, 2017.

Call 1-866-352-9540 for further credit information.

Live Webinar Registration

  • CFP 1.5
     
  • The Certified Financial Planner Board of Standards, Inc. has granted 1.5 hours of continuing education credit. Level of Knowledge: Intermediate.
     
  • AK CLE 1.5
     
  • Alaska attorneys may receive 1.5 hours of continuing legal education for completing this program. Please contact the Alaska Bar Association or go to www.alaskabar.org for details regarding reciprocity with other states.
     
  • AL CLE 1.5
     
  • This course or a portion thereof has been approved by the Alabama State Mandatory Continuing Legal Education Commission for a maximum of 1.5 hours credit.
     
  • AR CLE 1.5
     
  • This course has been approved for 1.5 hours of CLE by the Arkansas CLE Board.
     
  • Arizona CLE 1.5
     
  • The State Bar of Arizona does not approve or accredit CLE activities for the Mandatory Continuing Legal Education requirement. This activity may qualify for up to 1.5 hours toward your annual CLE requirement for the State Bar of Arizona.
     
  • CA MCLE 1.5
     
  • Lorman Business Center, Inc. is a State Bar of California approved MCLE sponsor and this course qualifies for 1.5 CLE hours of participatory credit.
     
  • CO CLE 2.0
     
  • This program may qualify for 2.0 credit hours through the Colorado Supreme Court Board of Continuing Legal and Judicial Education through reciprocity. This course is accredited in other jurisdictions such as New Jersey. To receive CLE credit for this program, a home study affidavit must be submitted to the Supreme Court Board of Continuing Legal and Judicial Education.
     
  • CT CLE 1.5
     
  • Neither the Connecticut Judicial Branch nor the Commission on Minimum Continuing Legal Education approve or accredit CLE providers or activities. This course has been approved for CLE credit in jurisdictions aside from CT and therefore it automatically meets the content and delivery requirements in Connecticut. Credit is based on a 60 minute credit hour and shall be awarded as follows: 1.5 CLE credit(s).
     
  • GA CLE 1.5
     
  • This program has been approved by the Georgia Commission on Continuing Lawyer Competency for 1.5 CLE hours.
     
  • HI CLE 1.5
     
  • This program was approved by the Hawaii State Board of Continuing Legal Education for 1.5 CLE credit hours.
     
  • IA CLE 1.5
     
  • Fundamental Principals of Trust Administration and Role of the Trustee is accredited under the regulations of the Iowa Supreme Court Commission on Continuing Legal Education. It is planned that this program will provide up to a maximum of 1.5 hours of credit toward the mandatory continuing legal education requirements under the Iowa rule.
     
  • IL CLE 1.5
     
  • This course was approved for a total of 1.5 hours of MCLE Credit by the Illinois MCLE Board.
     
  • ME CLE 1.5
     
  • This course has been approved by the State of Maine Board of Overseers of the Bar. Lawyers who complete this course shall receive 1.5 hours of CLE credit under M. Bar R. 12.
     
  • MN CLE 1.5
     
  • This program has been approved by the Minnesota Board of Continuing Legal Education for 1.5 hours of credit.
     
  • MO CLE 1.8
     
  • This program has been approved by the Missouri Bar for 1.8 hours of CLE.
     
  • MS CLE 1.5
     
  • This program has been approved by the Mississippi Commission on Continuing Legal Education for a maximum of 1.5 credit hours.
     
  • MT CLE 1.5
     
  • This program has been approved by the Montana Commission of Continuing Legal Education for a total of 1.5 CLE credits.
     
  • NC CLE 1.5
     
  • This program has been approved by the North Carolina State Bar Board of Continuing Legal Education for 1.5 CLE hours.
     
  • ND CLE 1.5
     
  • This program has been reviewed by the North Dakota Commission for Continuing Legal Education and approved for 1.5 hours of CLE credit.
     
  • NE CLE 1.5
     
  • Lorman Business Center, Inc. is an accredited CLE sponsor in the State of Nebraska and certifies that this activity has been approved for 1.5 hours of CLE credit in the State of Nebraska.
     
  • NH MCLE 1.5
     
  • NH MCLE does not approve or accredit CLE activities for the NH Minimum CLE requirement. Lorman Education Services believes this course meets the requirement of NH Supreme Court Rule 53 and may qualify for CLE credit(s). Program Length: 90 Minutes.
     
  • NJ CLE 1.8
     
  • This program has been approved by the Board on Continuing Legal Education of the Supreme Court of New Jersey for 1.8 hours of total CLE credit.
     
  • NM CLE 1.5
     
  • This program has been approved by the New Mexico Minimum Continuing Legal Education Board for 1.5 hours of credit.
     
  • NV CLE 1.5
     
  • This program has been approved by the Nevada Board of Continuing Legal Education for 1.5 CLE hours.
     
  • NY CLE 1.5 including Areas of Professional Practice 1.5
     
  • This course has been approved in accordance with the requirements of the New York Continuing Legal Education Board for up to a maximum of 1.5 credit hours in the area(s) of Areas of Professional Practice for 1.50 hours. Each hour may be counted only as satisfying one category of credit. Duplicate credit for the same hour of instruction is not permitted. This course qualifies for both established and newly admitted attorneys. Lorman Business Center, Inc. has a financial hardship guideline. Please contact customer service at 1.866.352.9539 for instructions on how to apply.
     
  • PA CLE 1.5
     
  • This Distance Learning program has been approved by the Pennsylvania Continuing Legal Education Board for 1.5 hours of substantive law, practice and procedure CLE credit.
     
  • RI CLE 1.5
     
  • This program has been approved by the Rhode Island Mandatory Continuing Legal Education Commission for 1.5 hours of CLE credit.
     
  • TN CLE 1.5
     
  • This program has been approved as a distance learning format by the Tennessee Commission on Continuing Legal Education for a maximum of 1.5 hours of credit.
     
  • TX MCLE 1.5 including Estate Planning and Probate Law 1.5; Tax Law 1.5
     
  • This program has been approved for Minimum Continuing Legal Education credit by the State Bar of Texas Committee on MCLE in the amount of 1.5 credit hours. Lorman Education Services is an accredited sponsor, approved by the State Bar of Texas, Committee on MCLE. This course is eligible for specialization credits in the area(s) of Estate Planning and Probate Law for 1.50 hours and Tax Law for 1.50 hours. This program has been approved by the Texas State Bar College for 1.5 hours of CLE credit.
     
  • UT CLE 1.5
     
  • This program has been approved by the Utah State Board of Continuing Legal Education for 1.5 CLE hours.
     
  • VA CLE 1.5
     
  • This program has been approved by the Virginia Mandatory Continuing Legal Education Board for 1.5 CLE credit hours.
     
  • VT CLE 1.5
     
  • This program has been approved by the Mandatory Continuing Legal Education Board of Vermont for 1.5 hours of CLE credit.
     
  • WA CLE 1.5
     
  • This program has been approved by the Washington State Board of Continuing Legal Education for 1.5 hours of credit.
     
  • WI CLE 1.5
     
  • This program has been approved by the Board of Bar Examiners for 1.5 hours for use toward the Wisconsin Mandatory CLE requirement.
     
  • WV MCLE 1.8
     
  • This program has been approved by the West Virginia State Bar MCLE Commission for 1.8 MCLE hours.
     
  • CPE 1.8 including Management Services 1.8
     
  • Lorman Education Services is registered with the National Association of State Boards of Accountancy (NASBA) as a sponsor of continuing professional education on the National Registry of CPE Sponsors. State boards of accountancy have final authority on the acceptance of individual courses for CPE credit. Complaints regarding registered sponsors may be submitted to the National Registry of CPE Sponsors through its web site: www. learningmarket.org. For more information regarding administrative policies such as complaint and refund, please contact our offices at 866-352-9539. CPE Credit: Maximum Credit Hours: 1.8 each session (based on a 50 minute credit hour). You must attend at least 50 minutes to obtain credit. Field of Study: Management Services for 1.8 hours. Prerequisite: . Level of Knowledge: Intermediate. Teaching Method: Seminar/Lecture. Advance Preparation: None. Delivery Method: Group Internet Based. Please refer to the information in this brochure for outline, course content and objectives. Upon completion of this course, you will receive a certificate of attendance. Final approval of a course for CPE credit belongs with each state's regulatory board. Please note: In order to receive CPE credit for this course you MUST use the streaming audio option, as well as enable and complete the required progress checks.
     
  • Lorman Business Center, Inc. is a registered provider for CPA CPE through the State Education Department of New York, Sponsor number: 000640. The following course will carry the subject area of Advisory Services for 1.5 hours.
     
  • Lorman Business Center, Inc. has registered with the Texas State Board of Public Accountancy as a CPE Sponsor. This registration does not constitute an endorsement by the Board as to the quality of our CPE Program. This program qualifies for 1.5 hours of continuing professional education.
     
The CLE Code is ONLY a requirement when applying for CLE Credit in New York or New Jersey or Kansas. Other states do not need to supply the CLE Code to apply for CLE credit.

Audio & Reference Manual

  • CAC 0.5
     
  • CBC 0.5
     
  • AK CLE 1.5
     
  • Arizona CLE 1.5
     
  • CA MCLE 1.5
     
  • GA CLE 1.5
     
  • HI CLE 1.5
     
  • IL CLE 1.5
     
  • ME CLE 1.5
     
  • MO CLE 1.8
     
  • MT CLE 1.5
     
  • NJ CLE 1.8
     
  • NM CLE 1.5
     
  • NV CLE 1.5
     
  • NY CLE 1.5 including Areas of Professional Practice 1.5
     
  • UT CLE 1.5
     
  • VT CLE 1.5
     
  • WA CLE 1.5
     
  • WV MCLE 1.8
     
The CLE Code is ONLY a requirement when applying for CLE Credit in New York or New Jersey or Kansas. Other states do not need to supply the CLE Code to apply for CLE credit.

MP3 Download

  • AK CLE 1.5
     
  • Arizona CLE 1.5
     
  • CA MCLE 1.5
     
  • HI CLE 1.5
     
  • IL CLE 1.5
     
  • ME CLE 1.5
     
  • MO CLE 1.8
     
  • MT CLE 1.5
     
  • NJ CLE 1.8
     
  • NM CLE 1.5
     
  • NV CLE 1.5
     
  • NY CLE 1.5 including Areas of Professional Practice 1.5
     
  • UT CLE 1.5
     
  • VT CLE 1.5
     
  • WA CLE 1.5
     
  • WV MCLE 1.8
     
The CLE Code is ONLY a requirement when applying for CLE Credit in New York or New Jersey or Kansas. Other states do not need to supply the CLE Code to apply for CLE credit.

Who should attend?

This live webinar is designed for attorneys, estate planners, accountants, presidents, vice presidents, tax managers, financial planners, trust administrators and lenders.

Purchase Options
Can't Attend?

More Program Information

Why Lorman?

Over 30 years and 1.4 million customers worth of experience providing continuing education. Our passion is providing you world-class training to help you succeed in business and as a professional.

Faculty

No photo available

Jennifer V. Abelaj, Esq., CPA

Katsky Korins LLP

  • Attorney at Katsky Korins LLP
  • Attorney with a financial background focusing on tax and estate planning matters, including estate and gift taxation, charitable giving and tax planning, business succession planning, and not-for-profit creation and compliance
  • Member of the New York State Bar Association, and was a court-appointed Court Examiner for New York State Supreme Court guardianship matters
  • Fluent in Spanish, conversant in Slovak
  • Can be contacted at [email protected], 212-716-3263
Anta Cissé-Green, Esq., L.L.M., T.E.P.

Anta Cissé-Green, Esq., L.L.M., T.E.P.

Akin Gump Strauss Hauer & Feld

  • Associate General Counsel of Development at NYU Langone Medical Center
  • Seasoned tax professional who advises clients on the tax efficient use of complex vehicles to transfer wealth to family members using various estate, gift generation skipping and charitable vehicles
  • Member of the New York State Bar Association, the New York City Bar Association and the current Trusts and Estates Editor for the eReport, the online publication of the American Bar Association, Real Property Trusts and Estates Section
  • Certified as a Trusts and Estates Practitioner with the Society of Trusts and Estates Practitioners
  • Superlawyers New York Metro Rising Star 2013 to 2014, Estate Planning & Probate
  • L.L.M. degree, Taxation, New York University School of Law; J.D., magna cum laude, Brooklyn Law School
  • Can be contacted at [email protected]
Purchase Options
Can't Attend?

More Program Information

Why Lorman?

Over 30 years and 1.4 million customers worth of experience providing continuing education. Our passion is providing you world-class training to help you succeed in business and as a professional.

All of your training, right here at Lorman.

Pay once and get a full year of unlimited training in any format, any time!

  • Live Webinars
  • OnDemand Webinars
  • MP3 Downloads
  • Course Manuals
  • Audio Recordings*
  • Executive Reports
  • White Papers and Articles
  • Sponsored Live Webinars

Additional benefits include:

  • State Specific Credit Tracker
  • Members Only Newsletter
  • All-Access Pass Course Concierge

* For audio recordings you only pay shipping

Questions? Call 877-296-2169 to speak with a real person.

Sign Up Today
With This Course

Access to all training products for one year
$699/year

Unlimited Lorman Training

With the All-Access Pass there is no guessing what you will need for your yearly training budget. $699 will cover all of your training needs for an entire year!

Easy Registrations

Once you purchase your All-Access Pass you will never be any further than one-click away from attending any Lorman training course.

Invest in Yourself

You haven't gotten to where you are professionally by luck alone; it's taken a lot of hard work and training. Invest in yourself with the All-Access Pass.

Product ID: 399747
Published 2017
Purchase Options

Register today before this event fills.

Can’t attend? Pre-order an Audio & Reference Manual from this event.