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Irrevocable or Revocable Trust?

The 60-Minute Lawyer

  • Product Number: 2190201WBC
  • CLE Credits, earn up to:
    1 substantive credits, 0 ethics credits CLE Credit Note
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  • Product Description
  • Agenda & Materials
  • Faculty
  • Product Description

    Product Description

    Revocable (living or inter vivos) trusts are, quite plainly, a type of trust that can be modified at any time. In the alternative, irrevocable trusts cannot be changed after it has been created absent certain situations. Choosing the trust that is right for your client—and explaining the pros and cons of each—can be challenging for an estate planning lawyer. Proper consideration of the many reasons for selecting the proper trust include asset protection, planning for mental incapacity, avoiding probate, charitable giving, estate tax implications, and protecting privacy.

    This seminar focuses on the differences between revocable and Medicaid irrevocable income only trusts. Learn how to draft them as well as explore the estate, gift and income tax, and step up in basis issues that relate to both trusts. We explore the use of limited powers of appointment that allow irrevocable trusts to be changed. You find out the two trusts are more similar than they are different and leave this 60-minute program more proficient and capable in determining the ideal trust to match the multitude of needs of your clients.

  • Agenda

    Agenda & Materials

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    MCLE webcasts are delivered completely online, underscoring their convenience and appeal. There are no published print materials. All written materials are available electronically only. They are posted 24 hours prior to the program and can be accessed, downloaded, or printed from your computer.

  • Faculty

    Faculty

    Todd E. Lutsky, Esq., Cushing & Dolan, PC, Waltham
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