Essential Estate Planning Through Effective Asset Titling

Lance Pruitt
Lance Pruitt |

Lance excels at handling the “big picture” for affluent families by reviewing personalized estate planning and developing asset preservation strategies to help achieve their goals.

On-Demand: July 17, 2024

2 hour CLE

Tuition: $195.00
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Program Summary

This presentation will include a general discussion reflecting the importance and benefits of proper asset titling to achieve estate planning goals. Often, estate planning documents are properly drafted to achieve a client’s estate planning goals, but some or all of the assets comprising the client’s estate are not properly titled, resulting in unintended or disappointing outcomes. This presentation will also outline various forms of legal ownership of assets, and how each form of ownership works at the passing of the owner. Moreover, the presentation will emphasize the mechanics and necessary steps required to retitle/redesignate specific assets, including (i) brokerage accounts, (ii) real estate, and (iii) retirement accounts (beneficiary forms).

Key topics to be discussed:

  • Why is proper asset titling so critical?
  • Positive and Negative impacts of retitling certain assets
  • What are the common mistakes or oversights involved with asset titling?
  • Various forms of joint ownership of assets
  • Steps necessary to retitle specific assets (brokerage accounts, real estate, etc.)

Closed-captioning available

Speakers

Lance Pruitt_myLawCLELance Pruitt

Lance excels at handling the “big picture” for affluent families by reviewing personalized estate planning and developing asset preservation strategies to help achieve their goals. Lance also serves these families during the estate administration process to ensure these strategies come to fruition.

Lance practiced law for several years before joining the team in 2004. As an attorney, he primarily focused on estate and tax planning, estate administration, defending clients before the IRS and Tennessee Department of Revenue, and corporate planning.* He holds degrees from the University of Tennessee (B.S.), Southern Illinois University School of Law (J.D.), and the University of Missouri-Kansas City School of Law (LL.M. in Taxation)*. Lance is a member of the Knoxville Bar Association and is an adjunct professor at Tusculum College where he teaches Business Law.

Agenda

I. Why is proper asset titling so critical? | 11:00am – 11:20am

II. Positive and Negative impacts of retitling certain assets | 11:20am – 11:40am

III. What are the common mistakes or oversights involved with asset titling? | 11:40am – 12:00pm

Break | 12:00pm – 12:10pm

IV. Various forms of joint ownership of assets | 12:10pm – 12:40pm

V. Steps necessary to retitle specific assets (brokerage accounts, real estate, etc.) | 12:40pm – 1:10pm

Credits

Alaska

Approved for CLE Credits
2 General

Our programs are CLE-eligible through Alaska's recognition of multi-jurisdictional reciprocity.
Alabama

Pending CLE Approval
2 General

Arkansas

Approved for CLE Credits
2 General

Our programs are CLE-eligible through Arkansas's recognition of multi-jurisdictional reciprocity.
Arizona

Approved for CLE Credits
2 General

California

Approved for CLE Credits
2 General

Colorado

Approved for Self-Study Credits
2 General

Connecticut

Approved for CLE Credits
2 General

District of Columbia

No MCLE Required
2 General Hours

Delaware

Approved via Attorney Submission
2 General

Florida

Approved via Attorney Submission
2.5 General

Receive CLE credit in Florida via Attorney Submission.
Georgia

Approved for CLE Credits
2 General

Hawaii

Approved for CLE Credits
2 General

Iowa

Approved for Self-Study Credits
2 General

Idaho

Pending CLE Approval
2 General

Illinois

Approved for Self-Study Credits
2 General

Indiana

Approved for CLE Credits
2 General

Kansas

Pending CLE Approval
2 General

Kentucky

Pending CLE Approval
2 General

Louisiana

Approved for Self-Study Credits
2 General

Massachusetts

No MCLE Required
2 General Hours

Maryland

No MCLE Required
2 General Hours

Maine

Pending CLE Approval
2 General

Michigan

No MCLE Required
2 General Hours

Minnesota

Approved for Self-Study Credits
2 General

Missouri

Approved for CLE Credits
2.4 General

Mississippi

Pending CLE Approval
2 General

Montana

Pending CLE Approval
2 General

North Carolina

Pending CLE Approval
2 General

North Dakota

Approved for CLE Credits
2 General

Our programs are CLE-eligible through North Dakota’s recognition of multi-jurisdictional reciprocity. Section 1, Policy 1.14
Nebraska

Pending CLE Approval
2 General

myLawCLE reports attendance to Nebraska on each attorney's behalf for all programs. Please do not self-report.
New Hampshire

Approved for CLE Credits
2 General

As of July 1, 2014, the NHMCLE Board no longer provides pre- or post-approval of courses. Attendees must self-determine whether a program is eligible for credit, and self-report their attendance online at www.nhbar.org, based on qualification provisions of Rule 53.
New Jersey

Approved for CLE Credits
2.4 General

Our programs are CLE-eligible through New Jersey's recognition of multi-jurisdictional reciprocity, except for the courses required under BCLE Reg. 201:2
New Mexico

Approved for Self-Study Credits
2 General

Nevada

Pending CLE Approval
2 General

New York

Approved for CLE Credits
2.4 General

Our programs are CLE-eligible through New York’s Approved Jurisdiction Group “A”.
Ohio

Pending CLE Approval
2 General

Oklahoma

Pending CLE Approval
2.5 General

Oregon

Approved for Self-Study Credits
2 General

Pennsylvania

Approved for Self-Study Credits
2 General

Rhode Island

Pending CLE Approval
2.5 General

South Carolina

Pending CLE Approval
2 General

South Dakota

No MCLE Required
2 General Hours

Tennessee

Approved for CLE Credits
2 General

Texas

Approved for CLE Credits
2 General

Utah

Pending CLE Approval
2 General

Virginia

Not Eligible
2 General Hours Hours

Vermont

Approved for CLE Credits
2 General

Washington

Approved via Attorney Submission
2 Law and Legal

Receive CLE credit in Washington via Attorney Submission.
Wisconsin

Approved for Self-Study Credits
2 General

West Virginia

Pending CLE Approval
2 General

Wyoming

Pending CLE Approval
2 General

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