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Cannon Estate Planning Lunch & Learn
The monthly education series from the Cannon Financial Institute is offered free by the Oklahoma City Community Foundation and provides attorneys, financial planners, CPAs, trust officers and other estate planning professionals an opportunity to connect and collaborate about current wealth management and estate planning topics, while earning continuing education credits.
Topics to be covered in this year-long series are listed in the table below. To learn more about a specific topic, just click on the link. Learn more details about registration and location below.► July 24: Management (and Mismanagement) of Trust Assets
The most sophisticated trust instrument imaginable cannot salvage or disguise poor management of trust assets. A Trustee must possess, or engage agents who possess, expertise in trust law as well as expertise concerning the assets composing the trust to ensure that the trust is productive and effectively fulfills its purposes. The following issues will be analyzed:
- Duty of diversification
- Risks associated with asset retention
- Challenges arising from holding closely-held businesses interests
- Handling other non-traditional assets
- Analyzing Roth conversions
- Modification of trusts to alter provisions affecting retirement assets
- Proper handling of IRC § 403(b) plans
- ERISA issues for estate planners
- Preventing financial elder abuse
- Challenging aspects of long-term care insurance
- Designing and administering special needs trusts
- Advising clients regarding IRC § 529A accounts
- Benefits and detriments of grantor versus nongrantor trusts
- Options to achieve basis step-up
- Minimizing trust-level income taxes
- Costs subject to the two-percent floor under IRC § 67(e)
- State laws regarding directed trusts
- Relationship among directed Trustee, director and beneficiaries
- Ways to slice and dice duties and responsibilities of trust administration
- Liability of directed Trustees and party holding the power to direct
- Addressing conflicts of interest in engagement letters
- Duties owed to non-client beneficiaries when representing a Trustee
- Conflicts of interest in representing Co-Trustees
- Ethics issues in advising closely-held businesses owners
Speaker: Charles A. Redd, partner in the firm of Stinson Leonard Street LLP, concentrates his practice in estate planning, estate and trust administration and estate and trust-related litigation. He has extensive experience and expertise in drafting estate planning documents; tax planning for individuals, trusts and estates; preparation, filing and representation of estate, gift and fiduciary income tax returns; representation of individual and corporate fiduciaries and litigation in the Probate Division and other equity divisions of the Circuit Court. For more biographical information, click here.
Location: The Oklahoma City Community Foundation (directions).
Parking: Free parking is available in the lot immediately east of our building along 10th Street. Additional parking is available for $5 in the parking garage located at 123 NW 10th St. The public entrance is the farthest west entrance off of 10th Street.
Cost: There is no charge for the series. Lunch will be provided.
CE: Each teleconference provides 1.5 hours of continuing education credits for CPAs, CFPs, CTFAs, CWSs, CLEs, AFIMs, CLUs, ChFCs and attorneys. Cannon will report attendance for attorneys and CFPs only. All other attendees will be presented with a CE certificate to self-report attendance to the appropriate crediting organizations.
How to Register: The online registration form is available here. Registration is first-come, first-served as limited seating is available. Registration deadlines are one week prior to each teleconference. You may also register by calling Joni Younts at 405/235-5603. Questions? Contact Joe Carter at 405/606-2914.
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