Presidents Day Sale - Save 20% on Any Course or $200 Off the All-Access Pass with Discount Code: PRESIDENT now until 2/21/2017.
Show navigation

Available in:

OnDemand Webinar
Audio & Reference Manual
MP3 Download

Powers of Appointment

Understand the use and purpose of various types of powers of appointment.

When a grantor creates a trust for another individual, he or she sets the 'rules' for the administration of the trust. These rules primarily include the distribution standards for income and principal paid out of the trust to or for the benefit of the beneficiary; and also include what happens upon the termination of the trust, whether that is the date of death of the beneficiary or some other date. A common practice in estate planning is for the grantor to provide a 'power of appointment' on behalf of the beneficiary over the trust assets. A power of appointment provides a measure of flexibility over an otherwise strict plan of distribution of the settlor's assets. This can prove useful in creating flexibility in light of changes in personal, family or financial circumstances long after the trust is drafted. The use of powers of appointment can be tricky and can have long-ranging tax consequences. This topic will help drafting attorneys identify various types of powers of appointment, how and why they are used in trust documents, the importance of ascertainable standards relative to powers of appointment, choice of trustee issues, and the arrival of new case law and legislation dealing with powers of appointment. The author will provide sample language for drafting various types of powers of appointment for use in different scenarios.

Runtime: 88 minutes
Purchase Options

More Program Information

Why Lorman?

Over 31 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

Introduction

  • What Are Powers of Appointment?
  • Reasons for Using Powers of Appointment

General vs. Limited Powers of Appointment

  • In General
  • Statutory Guidance
  • Ascertainable Standards
  • Basis Issues

Trustee Issues

  • Power to Remove and Replace a Trustee
  • Choice of Trustee

- Independent Trustee

- Beneficiary as Trustee

- Mixed

- Creditor Protection

Uniform Powers of Appointment Act

Purchase Options

More Program Information

Why Lorman?

Over 31 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 program format does NOT qualify, nor meet the National Standard for NASBA accreditation.

Audio & Reference Manual

This program format does NOT qualify, nor meet the National Standard for NASBA accreditation.

MP3 Download

This program format does NOT qualify, nor meet the National Standard for NASBA accreditation.

Purchase Options

More Program Information

Why Lorman?

Over 31 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

Melissa Cover Selinger

Melissa Cover Selinger

Selinger & Brunette, LLC

  • Founding partner of Selinger & Brunette, LLC in Madison, Wisconsin
  • Licensed and practicing in both Illinois and Wisconsin
  • Practice emphasizes all aspects of estate planning, estate and trust administration, and related tax planning
  • Conducts regular seminars and workshops on numerous estate planning and trust-related topics
  • Committee member for review and enactment of Uniform Powers of Appointment Act in Wisconsin
  • President-Elect of Madison Estate Council
  • Past chair of numerous committees for Chicago Bar Association
  • J.D. degree, Washington University School of Law; B.A. degree, University of Illinois at Urbana-Champaign
  • Can be contacted at 608-960-4537 or [email protected]
Purchase Options

More Program Information

Why Lorman?

Over 31 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: 400309
Published 2017
Purchase Options

Available in Multiple Formats

Purchase this course and learn on your schedule!