Estate Planning 101 for Attorneys: Will-based estate and incapacity planning, revocable trusts, living trusts, and Tax Rules on the Estate Process
Justin M. Gilbert is an attorney at Music City Estate Law, where he practices in the areas of estate planning, asset protection, business planning, and related tax matters.
Michael G. Zapson is a Partner in our Real Estate Group and Trusts and Estates Group. He advises real property owners, national companies, developers, purchasers, REITs, lenders and brokers. His varied practice also encompasses real estate and zoning, as well as commercial and estate litigation and estate planning.
$245.00 4 hour CLE
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Program Summary
Session I - Probate process, and why it should be avoided – Justin M. Gilbert
The presentation is an overview of the probate process and why it should be avoided. Attendees will learn the basics of a will-based estate plan and incapacity planning. Attendees will learn why revocable living trusts have become a great tool for a quick, cheap, transfer of assets at death, and how to utilize a living trust to plan for blended families, protect minor children, maintain benefits for special needs beneficiaries, and care for family pets.
Key topics to be discussed:
- Learn the basics of estate planning that every attorney needs to know
- What is probate?
- What is estate planning?
- What are the risks of joint ownership?
- How does the client avoid probate?
- Planning for minor children and protecting their inheritance
- Planning for blended families
- Protecting special needs beneficiaries
- Planning for pets and business owners
- Incapacity planning
Session II - Tax rules on the Estate process – Michael G. Zapson
This session will provide Lawyers, Accountants, and Executors an overview of the tax rules on the Estate process. Importantly it will provide the process, deadlines and elections that may be made.
Key topics to be discussed:
- What tax form to use
- IRS Forms 1040/1041 and 706
- What expenses are deductible and where
- Valuation elections
- Portability
Date: August 18, 2022
Closed-captioning available
Speakers
Justin M. Gilbert | Music City Estate Law
Justin M. Gilbert is an attorney at Music City Estate Law, where he practices in the areas of estate planning, asset protection, business planning, and related tax matters. Mr. Gilbert regularly speaks on estate planning and tax related topics. His practice emphasizes estate planning, which includes wills and trusts and other estate planning devices, and trust administration and probate.
Mr. Gilbert is a member of WealthCounsel and past member of the ARAG Legal Attorney Advisory Committee. Mr. Gilbert earned his B.S. degree in finance from George Mason University and his J.D. degree from Santa Clara University School of Law. He is admitted to practice in the state courts of California, Florida, and Tennessee.
Michael G. Zapson | Certilman Balin Adler & Hyman, LLP
Michael G. Zapson is a Partner in our Real Estate Group and Trusts and Estates Group. He advises real property owners, national companies, developers, purchasers, REITs, lenders and brokers. His varied practice also encompasses real estate and zoning, as well as commercial and estate litigation and estate planning. His practice bridges the gap between estate and tax planning for real estate professionals and others. He frequently presents seminars on the topics of land use and development, and trusts and estates.
Active in his community, Mr. Zapson is a board member of the Long Island Chapter of the League of Conservation Voters, the Long Beach Lawyer’s Association, the Nassau County Bar Association, and the Association of the Bar of the City of New York.
Mr. Zapson was a member of the Nassau County Legislature where he chaired the Judiciary, Finance, and Public Works Committees. He served as Chairman of the Long Beach Democratic Committee, and is a Past President, Past Vice President and Former Council Member of the City of Long Beach.
Mr. Zapson earned a Juris Doctor from the State University of New York at Buffalo and a Bachelor of Arts from Cornell University. He is admitted to practice in New York, Washington D.C, and the U.S. District Courts for the Southern, Eastern and Northern Districts of New York.
Education
University at Buffalo School of Law, J.D., 1985
Cornell University, B.A., 1982
Bar Admission
New York
Washington D.C.
Court Admission
U.S. District Courts, the Southern and Eastern Districts of New York
Bar Associations
Nassau County Bar Association
Association of the Bar of the City of New York
Long Beach Lawyers’ Association
Appointments
Judiciary Committee of the Nassau County Legislature, Former Chair
Finance Committee of the Nassau County Legislature, Former Chair
Public Works Committee of the Nassau County Legislature, Former Chair
Elected Offices
Long Beach Democratic Committee, Chairman, 2008 until 2015
Long Beach City Council Member, Former President/Vice President, 10 years
Nassau County Legislature
Teaching
National Business Institute Seminar, Faculty Member
Speaking Engagements
Provides continuing legal education to attorneys in the arms of Trusts & Estates, Estate Litigation, and Zoning
Community Involvement
Long Island Chapter of the League of Conservation Voters, Board Member
Long Island Builder’s Institute, Member
Certifications
State and Local Government Law
Agenda
Session I – Probate process, and why it should be avoided | 1:00pm – 3:10pm
1. Learn the basic of estate planning that every attorney needs to know | 1:00pm – 1:12pm
2. What is probate? | 1:12pm – 1:24pm
3. What is estate planning? | 1:24pm – 1:36pm
4. What are the risks of joint ownership? | 1:36pm – 1:48pm
5. How does the client avoid probate? | 1:48pm – 2:00pm
Break | 2:00pm – 2:10pm
6. Planning for minor children and protecting their inheritance | 2:10pm – 2:22pm
7. Planning for blended families | 2:22pm – 2:34pm
8. Protecting special needs beneficiaries | 2:34pm – 2:46pm
9. Planning for pets and business owners | 2:46pm – 2:58pm
10. Incapacity planning | 2:58pm – 3:10pm
Session II – Tax rules on the Estate process | 3:10pm – 5:20pm
1. What tax form to use | 3:10pm – 3:40pm
2. IRS Forms 1040/1041 and 706 | 3:40pm – 4:10pm
Break | 4:10pm – 4:20pm
3. What expenses are deductible and where | 4:20pm – 4:40pm
4. Valuation elections | 4:40pm – 5:00pm
5. Portability | 5:00pm – 5:20pm
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