Originally presented on September 12, 2019
Living trusts are often thought of as the easiest solution to transfer assets, particularly real estate, outside of probate. While they have many advantages, including the of administration, there are still many tradeoffs and potential traps, including tax and financial ramifications that are not always clear to clients. In addition, there are issues of modification over time and the choosing the right trustee for the trust. This program will provide you with a practical guide to forming and using living trusts for real estate and other assets in estate planning.
• Counseling clients about the advantages and drawbacks of placing personal real estate in living trusts
• Practical estate administration and probate issues of using living trusts
• Tax and financial ramifications of the transfer
• Potential issues if the house is subject to a mortgage or liens
• Considerations when choosing a trustee
Speakers: Missia H. Vaselaney, Taft, Stettinius & Hollister, LLP, Cleveland, OH and Michael Sneeringer, Porter Wright Morris & Arthur LLP, Naples, FL
NOTE: This program was originally produced as a telephone seminar and is available on demand in streaming audio. This material qualifies for self-study credit only. Pursuant to Regulation 15.04.5, a lawyer may receive up to six hours of self-study credit in a reporting year. Self-study programs do not qualify for ethics or elimination of bias credit.
|MCLE Form 9-12-19.pdf (86.9 KB)||Available after Purchase|
|Course materials.pdf (523 KB)||Available after Purchase|
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