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OnDemand Course

Basics of Trust Administration

Gain a thorough understanding of designing trusts and executing trust administration best practices.

Many individuals who are named as trustees or successor trustee are unaware of all of the duties and responsibilities that come along with the office. They may miss important deadlines and unknowingly breach their duties. This topic will explain trustee duties and responsibilities and allow those advising trustees and successor trustees to give meaningful advice. Receive practical guidance regarding maintaining appropriate trustee records and determination of entitlement to those records. This information is critical for anyone who regularly deals with trustees and who provides guidance regarding trust administration.

Runtime: 89 minutes

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.

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Why Lorman?

Over 34 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

General Trustee Duties

  • Administer the Trust
  • Skill and Care
  • Give Notices
  • Furnish Information and Communicate
  • Account
  • Not to Delegate
  • Loyalty
  • Avoid Conflicts of Interest
  • Segregate Trust Property
  • Impartiality
  • Invest
  • Enforce and Defend Claims
  • Confidentiality

Trustee Responsibilities

  • Hold Trust Property
  • Invest Trust Assets
  • Distribute Income/Principal
  • File Tax Returns
  • Comply With Other Government Regulation and Statutes
  • Record Transactions
  • Report to Beneficiaries

Trust Assets

  • Investment
  • Distribution
  • Records/Accounting

Related Issues

  • Trustee Compensation
  • Trustee Liability
  • Removal
  • Resignation
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More Program Information

Why Lorman?

Over 34 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 Course

Applications have not yet been submitted for Delaware, Idaho, Kentucky, Ohio, Oklahoma, South Carolina, and Wyoming CLE for this course. However, if you are interested in obtaining CLE for any of the listed states or have any additional credit questions please email us at [email protected] or call us at 866-352-9540.

This course was last revised on April 25, 2019.

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

  • CA MCLE 1.5
     
  • Lorman Business Center, LLC. is a State Bar of California approved MCLE sponsor and this course qualifies for 1.5 CLE hours of participatory credit.
     
  • WA CLE 1.5
     
  • This program has been approved by the Washington State Board of Continuing Legal Education for 1.5 hours of A/V credit under the Law & Legal Procedure category.
     

To earn each credit Lorman offers through the OnDemand learning platform, you need to watch 100% of the program. Also, for certain credits you will need to fulfill additional requirements which will be displayed on the "credits" tab when viewing the course.

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

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More Program Information

Why Lorman?

Over 34 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

Tereina Stidd

Tereina Stidd

Cole Schotz P.C.

  • Attorney with Cole Schotz P.C.
  • Concentrates practice in the area of estate planning, probate and trust administration, probate litigation and tax
  • Co-author of the chapter “Homestead” in Basic Estate Planning in Florida, 6th, 7th and 8th ed. published by the Florida Bar
  • Contributor to Estate, Gift, Trust and Fiduciary Tax Returns Planning and Preparation published by Thomson Reuters
  • Recognized many years as a Super Lawyers Florida Rising Star
  • Spoken on various estate planning, retirement assets, homestead and probate matters
  • J.D. degree, the Claude W. Petit College of Law at Ohio Northern University; LL.M. degree, in taxation, the University of Miami School of Law; B.A. degree in political science, cum laude, St. Bonaventure University
  • Licensed to practice law in both Florida and North Carolina
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More Program Information

Why Lorman?

Over 34 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.

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Product ID: 405781
Published 2019
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Available in Multiple Formats

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