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BDITS: Beneficiary Defective Inheritor's Trusts - Reducing Taxes, Retaining Control (teleseminar)
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This program will provide you with a real-world guide to planning and drafting BDITs.

When: 08/28/2017
1:00 PM to 2:00 PM
Where: United States
Contact: (404) 521-0781

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One-hour CLE programs are just a phone call away
Convenient, affordable, timely and informative
An 800 number connects you to nationally recognized practice leaders who will speak on important issues and emerging trends in the law. You can also pose your own questions to the speakers. Written materials and other details are emailed in advance to pre-registrants.
Beneficiary Defective Inheritor Trusts are seemingly perfect trusts, offering asset protection, tax efficiency, and control of the trust’s assets.  The theme of BDITs is “control it, don’t own it.”  Seemingly perfect vehicles like these, however, often go with substantial complexity.  A third-party must create and seed the trust with a nominal amount of cash. The beneficiary takes a Crummey power in the trust, which he or she never exercises.  After the power lapses the beneficiary sells property to the trust for a promissory note.  If everything is drafted and executed flawlessly, BDITs can be perfect vehicle for client goals.  If any of the moving pieces goes awry, however, everything falls apart. This program will provide you with a real-world guide to planning and drafting BDITs.

Planning and drafting Beneficiary Defective Inheritor Trusts
Complex mechanics of BDITs – third party creation, seed money, lapsing Crummey powers, and asset sales
Asset protection, tax, and control benefits of BDITs
Drafting traps and execution risks of BDITs
Clients profiles best suited to BDITs
Comparison of BDITs to Intentionally Defective Grantor Trusts

Michael T. Clear is a partner in the Greenwich, Connecticut office of Wiggin and Dana, LLP, where his practice focuses on estate planning, estate and trust administration, probate litigation and business succession planning.  His estate planning practice includes assisting individuals and families with tax-efficient and practical estate and gift planning, including the preparation of wills, revocable living trusts, insurance trusts, and qualified personal residence trusts.  He was recently selected by the Connecticut Law Tribune as a New Leader in the Law. He is a co-chair of the Probate and Estates Section of the Fairfield County Bar Association and is a member of the Board of Directors of the Connecticut Chapter of the Exit Planning Exchange.  Mr. Clear received his B.A. from the University of Richmond, his M.Ed from the University of Maryland, and his J.D., magna cum laude, from Quinnipiac University School of Law.


*(Teleseminar courses qualify for self-study credit only)  

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