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Current Issues in Revocable Living Trusts

Webinar: ID# 1014468
Recorded CD
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About This Course:
Revocable living trusts are a foundation of many estate plans. The use of a revocable living trust generally provides for a confidential distribution of family wealth without required court interference and also allows for assets to avoid probate in most jurisdictions.

Using a revocable living trust allows for planning in the event of incapacity without having to formally declare a person incompetent and without requiring the opening of a guardianship proceeding. A revocable living trust can provide a simplistic method of utilizing estate tax exemptions in the most efficient manner possible.

Agenda

What Is a Revocable Living Trust?

    Why Use a Revocable Living Trust?
    • Confidentiality
    • Avoidance of Probate Proceedings
    Why Fund a Revocable Trust During Lifetime?
    • Incapacity
    • Special Assets – Using Nominee Trust
    How Do You Fund a Revocable Trust With Real Estate?

    • Issues Involving Mortgages
    • Title Commitment
    • Deeds
    What Are the Tax Implications of Funding a Revocable Trust During Lifetime?

      How Do You Plan for Optimal Use of Estate Tax Exemptions With Revocable Trusts?

      • Credit Shelter Trust/Marital Trust (A/B Planning)
      • Joint Revocable Trusts for Exemption Efficiency
      FACULTY

      Philip J. Tortorich
      • Head of Katten Muchin Rosenman LLP's captive insurance practice
      • Advises wealthy individuals and closely held companies on the creation and management of captive insurance programs, as well as tax and estate planning matters
      • Advises wealthy individuals and closely held companies on the creation and management of captive insurance programs, as well as tax and estate planning matters
      • Has worked in the captive insurance space for more than a decade and is one of only a few attorneys who handle both the income tax and estate and gift tax aspects of captive insurance programs for closely held middle market businesses
      • Much of his work involves consulting with clients on the tax efficient structuring of corporate entities including C corporations, S corporations, limited liability companies, limited partnerships and hybrid-type entities
      • Assists clients in designing onshore and offshore trusts that minimize their exposure to gift taxation and in structuring family investment companies that fit their specific circumstances and trust and estate plans
      • J.D. degree, Loyola University Chicago School of Law
      • B.A. degree, Loyola University Chicago
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      Current Issues in Revocable Living Trusts
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