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Drafting Credit-Shelter Trusts in InterActive Legal
January 26 @ 12:00 pm – 1:00 pm EST
Subscriber Drafting Webinars provide continued training on various aspects of using the InterActive Legal software, usually focusing on drafting particular documents or using certain drafting options. These webinars are free to ILS subscribers. They provide insight and training regarding specific documents and options available within the drafting systems. Subscribers will receive an email outlining the topic of each drafting webinar with instructions for registration.
Webinar Description
Credit-Shelter Trusts (sometimes called “Bypass Trusts”) are a common feature in married estate plans when estate taxation is a concern. While we cover credit-shelter trusts in our practice system training, most clients don’t need them, given that the federal estate tax exemption is still very high. Therefore, many subscribers may not use credit-shelter trusts regularly, and this webinar is designed to revisit how to bring them into the estate plan when necessary.
We will go through several drafting examples to illustrate how to create a credit-shelter trust via a formula gift, as well as via a disclaimer-based plan or a Clayton QTIP plan, all of which are options in every InterActive Legal drafting system. We’ll also discuss how to best use pre-answered profiles to efficiently generate each type of plan, as well as some alternate plan structures, such as state-only credit-shelter trusts that can be used in decoupled states. Finally, we will review the sample flowcharts that are available in the program’s Resource Library to illustrate each plan.
Continuing Education Credits
InterActive Legal is not an approved Continuing Education (CE) Sponsor. However, several states and regulatory agencies for a variety of professionals that participate on our teleconferences may still receive continuing education credit for their participation. If a participant wishes to receive CE credit for their participation in these teleconferences, they must apply to receive credit on their own and through their individual states and regulatory authorities. It is the responsibility of the participant to file for CE credit and is not guaranteed by the webinar sponsors.
Speaker Bio
Teresa Bush joined InterActive Legal in 2007 and serves as Director of Education and Support Services.
Ms. Bush has been licensed to practice law since 1991, and focused her practice exclusively on issues of estate and gift tax planning, probate, charitable planning, and estate and trust administration. She began her practice in a small law firm, planning for clients of all levels of wealth. Thereafter, she practiced for a number of years in the Tax Section of Kelly, Hart and Hallman, P.C. in Fort Worth, Texas, and as an estate and gift tax consultant for the Dallas office of Ernst & Young, in both cases focusing on planning for very high net worth clients.
Ms. Bush received her J.D. from the University of Texas School of Law, where she was a research assistant for Professor Stanley M. Johanson. She studied at Edinburgh University and the London School of Economics prior to obtaining a B.A. in Economics and Political Science from Rice University in Houston. While studying abroad, she worked as an intern for a Member of Parliament in the British House of Commons.
Ms. Bush taught legal research and writing as a Teaching Quizmaster in law school, and later taught estate planning extension courses for American College of Financial Services CLU candidates. She has presented several online webinars on estate planning and drafting topics, and is the author or co-author of a variety of estate planning articles.