The legal documents involved in estate planning can be complex. This
course will help the practitioner understand and interpret some of the
more common documents used in estate planning. Participants will gain
the confidence needed to understand legal paperwork. This course is not
intended to teach the participant how to draft estate documents and/or
clauses, as the drafting of such documents and/or clauses is the
function solely of a lawyer duly licensed in the jurisdiction within
which the client resides. This course is not meant to teach the
participant the subject of practicing law.
Learning Objectives
Learm an overview and interpretation of common legal documents
involved in estate planning.
Learn an overview of the roles and
responsibilities of parties to an estate.
Major Topics
Checklist of steps to take in the process of reviewing estate
documents
Detailed description of the common clauses found in the last
will and testament
Detailed description of the common clauses found in
trusts
Detailed overview of the marital trust, the unified credit
trust, and the QTIP trust
Mechanics of the QTIP trust and the impact
of a reverse QTIP election
alternative provisions that qualify for the
maximum marital deduction
Requirements of a revocable trust
When a
revocable trust becomes irrevocable
Requirements of the last will and
testament
Major income and estate tax consequences of powers held by
various parties