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The ABC’s of Trusts: Essential guide for attorneys

R. Lance Pruitt
R. Lance Pruitt |

Prior to his current employment, Mr. R. Lance Pruitt practiced law for several years, concentrating his practice in the areas of estate and tax planning, tax litigation, estate administration, and corporate law.

On-Demand: November 20, 2023

$245.00 3 hour CLE

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Program Summary

Join us for a comprehensive exploration of trust planning. In the first part, we'll cover the importance of trusts in estate planning, the roles of key parties, types of trusts, and their benefits, as well as the process of creating and funding a trust while being mindful of potential pitfalls.

Then we'll delve into different types of trusts, providing practical insights into each. Whether you're an experienced attorney or new to the field, this webinar will equip you with the knowledge and tools to navigate trust planning with confidence and expertise.

Key topics to be discussed:

  • Trust Planning 101
  • Master the Mechanics of Different Types of Trusts

Date / Time: November 20, 2023

Closed-captioning available

Speakers

R.-Lance-Pruitt_myLawCLER. Lance Pruitt

Prior to his current employment, Mr. R. Lance Pruitt practiced law for several years, concentrating his practice in the areas of estate and tax planning, tax litigation, estate administration, and corporate law. Mr. Pruitt earned his B.S. degree from the University of Tennessee at Knoxville, his J.D. degree from Southern Illinois University School of Law, and his LL.M. degree in taxation from the University of Missouri-Kansas City School of Law. Mr. Pruitt was also an adjunct professor for several years at Tusculum College (Knoxville campus) where he taught Business Law.

Agenda

I. Trust Planning 101 | 10:00am – 11:40am

  • Importance of Trusts in Estate Planning | 10:00am – 10:10am
  • What Is a Trust? | 10:10am – 10:25am
  • Roles and Parties Involved (Settlor/Grantor, Trustee, Beneficiary) | 10:25am – 10:35am
  • Types of Trusts (Revocable vs. Irrevocable) | 10:35am – 10:45am
  • Benefits of Trusts | 10:45am – 11:00am

Break | 11:00am – 11:10am

  • Creating and Funding a Trust | 11:10am – 11:25am
  • Pitfalls and Considerations | 11:25am – 11:40am

II. Master the Mechanics of Different Types of Trusts | 11:40am – 1:20pm

  • Revocable Living Trusts | 11:40am – 11:55am
  • Irrevocable Trusts | 11:55am – 12:10pm

Break | 12:10pm – 12:20pm

  • Life Insurance Trusts | 12:20pm – 12:40pm
  • Asset Protection Trusts | 12:40pm – 1:00pm
  • Testamentary Trusts | 1:00pm – 1:20pm

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