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Drafting “Single” and “Separate” Trusts in InterActive Legal

September 29, 2023 @ 12:00 pm 1:00 pm EDT

Teresa L. Bush Esq.
Drafting Webinar

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

All InterActive Legal Wills and Trusts allow the drafter to incorporate trusts for individuals with various terms.  When planning for descendants or nieces and nephews, the drafter selects between “Separate Trusts” and a “Single Trust,” but those labels may not be self-explanatory.  In this webinar, we’ll first discuss what we mean by the terms Separate Trusts and Single Trusts, how they are designed, and how they differ, with the objective of making it easier to decide which is appropriate in a specific drafting situation.  We will then go through the drafting options for each type of trust, including selections for when a trust terminates, powers of appointment, SNT options, conduit/accumulation trust provisions, and more.

The Separate Trust concept also applies to trusts created for individuals who are listed by name as receiving cash bequests or a share of the residue, but the drafting options can vary in those cases.  Accordingly, we’ll spend some time reviewing the drafting options for situations where the client wants a separate, distinct trust for one individual with different terms.

The drafting options covered in this webinar are available in all practice systems.

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, Esq.

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.

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