Tailored for newer estate planning attorneys, this program offers a comprehensive overview packed with practical tips and sample forms. Essential topics like client intake and communication, wills, trusts, life insurance, and retirement benefits, while also addressing common mistakes to avoid will be covered.
Credits: 4.5 General, 0 Diversity/Inclusion PR, 0 MH/SA PR, 1.5 Other PR
Tuesday, December 3, 2024
Interactive Live Webcast
8:30 – 8:55 Log on to the webcast through your account at www.iicle.com
8:55 - 9:00 Welcoming Announcements
9:00 – 10:15 Anatomy of an Estate Plan
This session will do a basic walk-through of the forms involved in estate planning, their purposes, and why you need to understand them.
Alyx P. Durachta, Levenfeld Pearlstein, LLC, Chicago
10:15 – 10:30 Break
10:30 – 11:15 Client Intake & Communication
(0.75 Professional Responsibility pending approval)
This session will deal with the art (not science!) of choosing the right client, the importance and content of engagement letters, and the client communication that most of us probably don’t do well: the conclusion of representation letter.
Shawn M. McCullough, Harrison LLP, Chicago
11:15 – 11:25 Break
11:25 – 12:10 Wills Overview
This session will review the essential provisions and important aspects of wills. Drafting considerations will also be discussed.
12:10 – 12:45 Lunch
12:45 – 1:30 Trusts Overview
This session will start with a review of the basics of revocable trusts and then delve into various revocable trust structures and provisions that attorneys should consider for their clients.
Grant R. Hendricks, Levenfeld Pearlstein, LLC, Chicago
1:30 – 1:40 Break
1:40 – 2:25 Everyday Mistakes in Estate Planning
(0.75 Professional Responsibility pending approval)
This session will walk you through a checklist to ensure thoroughness in each stage of the planning process, from pre-engagement to document drafting to termination of representation, to help you avoid malpractice claims. Additionally, a Q&A session will address specific issues that arise in everyday practice.
Tricia R. Buhrfiend, Huck Bouma, P.C., Wheaton
2:25 – 2:35 Break
2:35 – 3:05 Understanding Retirement Benefits
This session will cover several important decision points concerning IRAs that most IRA owners will encounter so you can answer their questions. These will include beneficiary designations, IRA owner’s disability, investment of IRA assets in nonmarketable assets, and administering IRAs after the owner’s death.
Barry Kozak, Law Offices of Barry Kozak, Chicago
3:05 – 3:15 Break
3:05 – 3:45 Understanding Life Insurance
This session will summarize the key tax and estate planning benefits that can be achieved by carefully incorporating a life insurance policy in a client’s estate plan. In addition, it will address the differences between term and permanent life insurance, determining who should be the owner and beneficiary of the life insurance policy, how best to fund a trust-owned life insurance policy, and avoiding the troublesome “transfer-for-value” rule.
Afton L. Gauron, Croke Fairchild Duarte & Beres, Chicago
3:45 – 4:30 Essential Estate Tax Traps to Avoid
This session will focus on common estate planning mistakes that we should all avoid and will cover many topics, including taking advantage of portability, using the Illinois QTIP election and properly allocating GST exemption.
Allison K. Pfeifle, Arentfox Schiff LLP, Chicago
4:30 Adjourn
