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Identifying Estate Planning Mistakes and How to Correct Them - Webinar

  • ID: 4071046
  • Webinar
  • March 2017
  • Region: Global
  • 90 Minutes
  • Lorman Business Center, Inc.
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Learn how to identify common estate planning mistakes and various elements to take into consideration.

Attorneys who engage in estate planning are confronted with many issues that need to be addressed. Some of the issues are not apparent but must be considered. This topic covers a number of issues that arise. There are ethical issues such as who is the client, the client who may have a diminished capacity and the attorney-client privilege. If a document is questioned, what are the obligations, if any, of the attorney drafts person who after death represents the fiduciary. There will be a discussion of drafting issues that the speaker has considered in his over 40 years of practicing law as a draftsperson and one time litigator. The attorney as fiduciary will also be discussed. This is a common occurrence but there are steps that are recommended when agreeing to accept. Acceptance can occur both when the documents are signed as well as when the fiduciary has to act. The subject of fiduciary fees will also be discussed, answering questions such as: Are the fees hourly, percentage, at what hourly rate, etc.? There are other issues to be considered including insurance, disposition of remains and file retention.

Learning Objectives
  • You will be able to identify lawyers as a trustee.
  • You will be able to recognize beneficiary designation.
  • You will be able to explain how to coordinate a will and trust and what are some pitfalls beneficiary designation.
  • You will be able to review ethical issues.
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Ethical Issues
- Who Is the Client?
- Attorney Client Privilege
- Work Product Doctrine

File Gathering and Execution

File Retention

Disability, Long Term Care, and Insurance
- What Is the Lawyers Role?
- Types of Insurance and Estate Plan

Powers of Attorney
- Acceptance Financial Instructions and Others

Coordinate Will and Trust and What Are Some Pitfalls

Beneficiary Designation
- Coordination With Estate Plan
- Can It Be Fixed

Lawyer as Trustee
- Can Do
- Ethical and Practical Considerations

Disposition of Remains
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Kenneth E. Konop, Miller, Canfield, Paddock and Stone, P.L.C.
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This webinar is designed for attorneys, estate planners, presidents, vice presidents, CFPs, accountants, finance directors, financial planners, business owners and managers, controllers and CFOs.
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