A Comprehensive Overview of Trusts

(751 Ratings)

Produced on: April 11, 2017

Course Format On Demand Audio

Taught by

Categories:

Course Description

Time 61 minutes
Difficulty Beginner

At one point in the legal profession, attorneys had the advantage of holding the keys to the law library and the requisite knowledge to draft trust documents properly. However, much has changed in the past 20 years. The coming of the computer, the internet, and smartphones have all paved the way to break down barriers for the client to get to the legal documents that they need.

However, the attorney still has a broad range of knowledge that he or she can present to the client that a cursory internet search will not reveal. Does the client need an SNT or an ABLE trust? What about dealing with tax issues with a revocable or irrevocable trust?

In this program, attorney Dr. Bart Basi provides a comprehensive overview of trusts to help address these questions and more.   

 
Learning Objectives: 
  1. Discuss the differences between revocable and irrevocable trusts
  2. Approach client meetings with confidence having a vast knowledge of the types of trusts
  3. Draft trusts that meet client needs
  4. Open a store of knowledge for clients who may need other documents

Faculty

Dr. Bart A. Basi

The Center for Financial, Legal & Tax Planning, Inc

Dr. Basi is a specialist in the areas of business succession, business valuation, mergers and acquisitions, retirement and estate planning, strategic planning, and tax aspects of business decisions for closely held and family businesses. He speaks nationwide, writes, and researches on all of these areas. He has written five loose-leaf bound books, over 300 articles, and has worked with hundreds of businesses and associations. Journals that have published Dr. Basi’s work include Money Matters, The American Journal of Small Business, the Journal of Family Law, The Journal of Estate Planning, The Tax Lawyer, Small Business Taxation, Taxation for Individuals, Taxation for Accountants, Taxation for Lawyers, The CPA Journal and The Tax Executive.

Dr. Basi is the author of  “The Tax Report,” a bi-monthly report on income and estate tax matters for closely-held businesses, “Accounting and Taxes,” a monthly column distributed to individuals and trade journals, and the “Tax Tip,” a monthly tax advisory for the closely-held and family business.

Education

  • Bachelor’s Degree in Accounting, Utica College of Syracuse University
  • Master’s Degree in Business Administration, Syracuse University
  • Juris Doctor in Law, University of Louisville
  • Doctorate in Economics and Accounting, Indiana University
  • Post-Graduate study in Taxation, Stanford University

Professional Licenses

  • Certified Public Accountant – Indiana (1967-2000)
  • Attorney at Law:
    • Kentucky (1969)
    • Pennsylvania (1972-1982)
    • Illinois (1978-present)
    • New York (2010-present)

Academic Affiliations

  • Currently holds the rank of Professor Emeritus at Southern Illinois University.
  • Formerly affiliated with Penn State University, Indiana University, The University of Louisville, and Syracuse University specializing in corporate taxation, estate planning, and business valuations.

Business Affiliations and Memberships

  • Senior Advisor, The Center for Financial, Legal and Tax Planning, Inc. The Center values approximately fifty companies per year.
  • Memberships have included the American Bar Association’s Tax Committees on estate and gift taxes, business succession, and business planning and valuation.

Former Awards, Honors and Recognitions

  • Listed in Harvard Business School Profiles in Business and Management:  An International Directory of Scholars and Their Research.
  • Recipient of educational grants for advanced course work in Taxation from the Practicing Law Institute, New York.
  • Listed in The Tax Analyst Directory and the Lexis Computer Tax Library as a tax professional in the U.S., specializing in family and closely held companies.
  • Listed in Who’s Who:  Comprehensive and National Registries; International Registry;  Leading American Executives, and Among America’s Teachers.
  • Listed as an expert in taxes and business valuations in the Wisconsin and Illinois Register of Expert Witnesses.
  • Member of Phi Kappa Phi, national honorary, Beta Alpha Psi, accounting honorary, and Beta Gamma Sigma, business honorary.
  • Member of the Institute of Business Appraisers

Reviews

EM
Elizabeth M.

Very informative!

JL
Jem L.

Excellent!

PS
Paul S.

This is the second time I have taken this instructor. He is great. The only thing I wish is that when searching for classes we could search by instructor because I would take all the classes he offers.

PB
Paul B.

Excellent presentation. Instructor is knowledgeable and is easy to understand.

JS
John S.

best course yet. This man is a good teacher and it makes all the difference.

BS
Brenda S.

The speaker was excellent.

LF
Lauren F.

Great presenter!

JF
Jennifer F.

I'm a Bart super fan! Such great material.

SM
Susan M.

Great insight. Easy to follow. Good examples.

PP
Patrick P.

Awesome Lecture!!!

HC
Heather C.

This had fabulous information. I always love Bart's teaching style!

JW
Juliet W.

Great speaker

AA
Ashley Smith A.

Great

TB
Thomas B.

Especially helpful to early associates tackling trust and estate planning

SM
Shelley M.

Presenter was great - concise, clear, and emphatic when necessary, providing the tax implications of different types of trusts.

IF
Ira L F.

Excellent presentation by a knowledgeable instructor. Kept my attention.

ML
Michael L.

Excellent instructor I always learn something from his seminars

JM
Jenelle M.

This was the best program I have seen yet. He should do all your courses! Excellent!

MM
Michael M.

This overview encompasses a wide breadth of the subject area. Thank you.

JM
Jaykumar M.

great---superclear, which evinces great intellect. maybe a bit more on threshold questoins--- why set up a trust in the first place?

SK
Sarah K.

This professor was so-welled versed in this area. He was so interesting and got the material across very well. He was enjoyable and I will look to see what other courses he teaches.

KE
Karen E.

This presenter was by far the best I have ever seen in any CLE.

DM
David M.

Great Speaker!

RB
Roberta B.

Excellent overview of trusts!

JB
James B.

This is one of the best courses that I have taken anywhere, whenever.

AH
Amanda H.

concise, clear and helpful - both professionally and personally - whoever takes thiss course - - -

DB
Dwight B.

great

KT
Katie T.

Dr. Basi was EXCELLENT!

MQ
MARY Q.

excellent

MG
Michael G.

Excellent and thorough presentation.

AW
Ann W.

I always seek out Mr. Basi’s classes for my CLE requirements. He is an excellent lecturer.

MW
Michael W.

Good primer course

SP
Samuel P.

Best presenter I have heard. Excellent.

AW
Adele W.

Such a helpful overview of the various types of trusts and their basic income tax implications.

EB
Earl B.

ALL CLE should be conducted like this...

KR
Karen M R.

SUPER KNOWLEDGEABLE AND HIGH ENERGY-- ENJOYED FOR A VERY SUBSTANTIVE SUBJECT!

RB
Robert B.

Very well done.

MW
Michael W.

I found this particular presenter very concise and effective for this subject matter.

LO
Lisa O.

Great presentation. I would definitely recommend this.

AA
Angela A.

Speaker kept my attention the entire time. Best CLE I've watched on here so far.

PB
Precious B.

Loved hearing about the Alaskan Trust. This was the first time I heard about it.

SM
Susan M.

This was a very informative CLE and the teacher was fantastic!

SB
Stacy B.

Very informative.

SY
Steven Y.

Very knowledgeable

EW
Emily W.

Great speaker!

IL
Idalia L.

Excellent!

AW
Andrea W.

I really enjoyed this presenter. I hope he has other programs.

JA
Justin A.

This is one of the best faculty I have seen in any of the on demand videos I've watched.

JR
Janice R.

Tremendous knowledge on the subject

MP
Michael P.

Excellent lecture!

AW
Allan A. W.

Good basic presentation.

GG
Gail G.

Very interesting and informative

JT
Jerry Geza T.

Outstanding speaker. Excellent communicator.

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