Basics of Trusts (“Trusts 101”) in Estate Planning and Elder Law 1 Credit
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When someone hears the word "Trust" - there are usually certain images that come to mind. Things like "wealthy trust fund babies" and elderly individuals with high net worth, to name a few. The truth is; however, more people benefit from having Trust than you probably think.
Trust is a very useful and flexible tool for estate planning, yet it is probably the most underused estate management technique. A trust is an artificial entity, something like a corporation, created by a document or instrument.
A trust requires four basic elements - trustee, trust property, trust document, and known or discernible beneficiaries. The trust document specifies the rules of operation for the trust, the powers of the trustee, the beneficiaries to share in the income and principal from the trust, and instructions for the distribution of the trust property.
The following are the major topics covered in this CPE Finance course:
This CPE course is an introduction to the topic of trusts and their uses in estate planning.
| License details | Credits | Status |
|---|---|---|
| Finance for Certified Public Accountants (CPA-US) | 1 CPE | Approved |
| Estate Planning for Personal Financial Specialist (PFS) | 1 CPD | Eligible |
| Estate Planning for Chartered Financial Analyst (CFA) | 1 PL | Eligible |
| Finance for Delaware Licensed Public Accountant (DE-LPA) | 1 CPE | Eligible |
| Estate Planning for Chartered Financial Consultant (ChFC) | 1 CE | Eligible |
| Financial Planning for Certified Wealth Strategist (CWS) | 1 CE | Eligible |
| Trust and Estate Practitioners (TEP) | 1 CPD | Eligible |
| Financial Planning for Certified Fiduciary and Investment Risk Specialist (CFIRS) | 1 CE | Eligible |
| Estate Planning for Retirement Income Certified Professional (RICP) | 1 CE | Eligible |
| Estate Planning for Wealth Management Certified Professional (WMCP) | 1 CE | Eligible |
| Estate Planning for Financial Services Certified Professional (FSCP) | 1 CE | Eligible |
| Finance for Iowa Licensed Public Accountant (IA-LPA) | 1 CPE | Eligible |
| Finance for Maine Licensed Public Accountant (ME-LPA) | 1 CPE | Eligible |
| Financial aspects of estate and retirement planning for Certified Senior Advisor (CSA) | 1 CE | Eligible |
| Estate Planning for Chartered Special Needs Consultant (ChSNC) | 1 CE | Eligible |
| Estate Planning for Chartered Advisor in Senior Living (CASL) | 1 CE | Eligible |
| Estate Planning for CIPM | 1 PL | Eligible |
| License details | Credits | Status |
|---|---|---|
| Finance for Certified Public Accountants (CPA-US) | 1 CPE | Approved |
| Estate Planning for Personal Financial Specialist (PFS) | 1 CPD | Eligible |
| Estate Planning for Chartered Financial Analyst (CFA) | 1 PL | Eligible |
| Finance for Delaware Licensed Public Accountant (DE-LPA) | 1 CPE | Eligible |
| Estate Planning for Chartered Financial Consultant (ChFC) | 1 CE | Eligible |
| Financial Planning for Certified Wealth Strategist (CWS) | 1 CE | Eligible |
| Trust and Estate Practitioners (TEP) | 1 CPD | Eligible |
| Financial Planning for Certified Fiduciary and Investment Risk Specialist (CFIRS) | 1 CE | Eligible |
| Estate Planning for Retirement Income Certified Professional (RICP) | 1 CE | Eligible |
| Estate Planning for Wealth Management Certified Professional (WMCP) | 1 CE | Eligible |
| Estate Planning for Financial Services Certified Professional (FSCP) | 1 CE | Eligible |
| Finance for Iowa Licensed Public Accountant (IA-LPA) | 1 CPE | Eligible |
| Finance for Maine Licensed Public Accountant (ME-LPA) | 1 CPE | Eligible |
| Financial aspects of estate and retirement planning for Certified Senior Advisor (CSA) | 1 CE | Eligible |
| Estate Planning for Chartered Special Needs Consultant (ChSNC) | 1 CE | Eligible |
| Estate Planning for Chartered Advisor in Senior Living (CASL) | 1 CE | Eligible |
| Estate Planning for CIPM | 1 PL | Eligible |
| License details | Credits | Status |
|---|---|---|
| Finance for Certified Public Accountants (CPA-US) | 1 CPE | Approved |
| Estate Planning for Personal Financial Specialist (PFS) | 1 CPD | Eligible |
| Estate Planning for Chartered Financial Analyst (CFA) | 1 PL | Eligible |
| Finance for Delaware Licensed Public Accountant (DE-LPA) | 1 CPE | Eligible |
| Estate Planning for Chartered Financial Consultant (ChFC) | 1 CE | Eligible |
| Financial Planning for Certified Wealth Strategist (CWS) | 1 CE | Eligible |
| Trust and Estate Practitioners (TEP) | 1 CPD | Eligible |
| Financial Planning for Certified Fiduciary and Investment Risk Specialist (CFIRS) | 1 CE | Eligible |
| Estate Planning for Retirement Income Certified Professional (RICP) | 1 CE | Eligible |
| Estate Planning for Wealth Management Certified Professional (WMCP) | 1 CE | Eligible |
| Estate Planning for Financial Services Certified Professional (FSCP) | 1 CE | Eligible |
| Finance for Iowa Licensed Public Accountant (IA-LPA) | 1 CPE | Eligible |
| Finance for Maine Licensed Public Accountant (ME-LPA) | 1 CPE | Eligible |
| Financial aspects of estate and retirement planning for Certified Senior Advisor (CSA) | 1 CE | Eligible |
| Estate Planning for Chartered Special Needs Consultant (ChSNC) | 1 CE | Eligible |
| Estate Planning for Chartered Advisor in Senior Living (CASL) | 1 CE | Eligible |
| Estate Planning for CIPM | 1 PL | Eligible |
| License details | Credits | Status |
|---|---|---|
| Finance for Certified Public Accountants (CPA-US) | 1 CPE | Approved |
| Estate Planning for Personal Financial Specialist (PFS) | 1 CPD | Eligible |
| Estate Planning for Chartered Financial Analyst (CFA) | 1 PL | Eligible |
| Finance for Delaware Licensed Public Accountant (DE-LPA) | 1 CPE | Eligible |
| Estate Planning for Chartered Financial Consultant (ChFC) | 1 CE | Eligible |
| Financial Planning for Certified Wealth Strategist (CWS) | 1 CE | Eligible |
| Trust and Estate Practitioners (TEP) | 1 CPD | Eligible |
| Financial Planning for Certified Fiduciary and Investment Risk Specialist (CFIRS) | 1 CE | Eligible |
| Estate Planning for Retirement Income Certified Professional (RICP) | 1 CE | Eligible |
| Estate Planning for Wealth Management Certified Professional (WMCP) | 1 CE | Eligible |
| Estate Planning for Financial Services Certified Professional (FSCP) | 1 CE | Eligible |
| Finance for Iowa Licensed Public Accountant (IA-LPA) | 1 CPE | Eligible |
| Finance for Maine Licensed Public Accountant (ME-LPA) | 1 CPE | Eligible |
| Financial aspects of estate and retirement planning for Certified Senior Advisor (CSA) | 1 CE | Eligible |
| Estate Planning for Chartered Special Needs Consultant (ChSNC) | 1 CE | Eligible |
| Estate Planning for Chartered Advisor in Senior Living (CASL) | 1 CE | Eligible |
| Estate Planning for CIPM | 1 PL | Eligible |
Credit
Course Level
Instructional Method
Pre-requisites
Advance Preparation
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Nathan compassionately assists clients facing the inevitable challenges of aging, sickness, and death, by counseling clients on how to put the best estate plan in place for their needs. This involves guidance on what form of estate plan is most appropriate, whom to appoint as fiduciary of that plan (Power of Attorney Agent, Trustee, Executor), and what kind of property beneficiaries (children, grandchildren, charities, etc.) should receive after a person’s death. Over more than fifteen years in practice, Nathan has assisted many individuals and families with planning ahead for their incapacity and death through the effective drafting of Health Care Proxies, Living Wills, Last Wills, Powers of Attorney, Revocable and Irrevocable Trusts.
As part of planning for the elderly and disabled individuals, Nathan will also counsel clients on what public benefits may be available to help pay for a client’s long-term care. This often involves navigating the complex rules and regulations of the Medicaid program in New York, in order to preserve clients’ assets as much as possible, while still obtaining the Medicaid coverage needed to pay for their long-term medical needs.
After the passing of a loved one, Nathan assists the fiduciary (Trustee, Administrator or Executor) with the administration of that person’s estate, to ensure that the final wishes expressed in their estate planning documents are fulfilled. This process may involve the probate of a Last Will or other Court proceeding, which Nathan walks clients through with careful precision. Additionally, Nathan works tirelessly to advocate for clients who are beneficiaries of a decedent’s Estate, to make sure that such beneficiaries receive everything to which they are entitled.
A Western New York native, Nathan graduated summa cum laude from Canisius College with a dual major in political science and modern languages, before graduating magna cum laude from SUNY Buffalo School of Law in 2006. Nathan is licensed to practice law in New York State. Over his many years of practice in New York, Nathan has given several public and private seminars on various estate planning topics, including the proper preparation and use of Powers of Attorney, Wills, and Trusts, as well as effective methods of naming trusts as beneficiaries to IRAs.
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We issue instant credit certificates, ensuring they are valid for presentation to governing bodies. Typically, we report IRS, CTEC, CFP, IDFP, IWI, VBOA Ethics credits within 7 days – the fastest in the industry.
DWW
Just an amazing high level view of going back to the questions of WHY!! I've been looking for a down and dirty, easy to understand class on an intro to trusts and this class was amazing! It even went back to the beginning of how they originally came about and that was super helpful just to see what they were originally used for and it gave me a bit more context for what problems that trusts solve today that how we can solve these problems through contracts! (Which apparently is what a trust is!) Highly, highly recommend!!
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