General Will And Revocable Trust Drafting — 1.5 North Carolina General Credits

If you plan and/or draft Wills and/Revocable Trusts, you will want to listen to this very useful January 3, 2020, 1.6-hour (100 minute) program. Ira Mark Bloom, Esquire, a nationally-recognized speaker and author on these topics, provides a comprehensive explanation of the provisions which should be included in Wills and Revocable Trusts. Many helpful sample clauses are included.

Mr. Bloom is the Justice David Josiah Brewer Distinguished Professor of Law at Albany Law School where he teaches, inter alia, Individual Income Taxation, Estate Planning, Property, and Trusts and Estates. Professor Bloom is also the co-author of eleven law school casebooks on tax and trusts and estates.

Major topics include:
Effect of mandatory, and default, state laws 
General Will Drafting
- pre-residuary: heading; exordium clause; family identifications; definitions and constructions; fiduciaries; payment of debts, expenses and taxes; abatement; tangible personal property
- residuary clauses: predeceased beneficiaries; provisions for minors; outright to two or more persons; powers; allowing an executor access to fiduciary assets; power to exercise a power of appointment
- more
Will execution
Drafting revocable trusts
- heading; introductory paragraph; trust name and family identifications; the trust estate; during the settlor's lifetime: reserved rights; payments; more
- after the settlor dies: payment of debts, expenses and taxes; dispositive provisions; the residuary trust estate: if spouse survives (Clayton and QTIP); if spouse does not survive; survivor provisions; spendthrift provisions; trustee provisions: powers including to amend or modify, to give general power of appointment to beneficiaries to achieve basis stepup, to allocate income and principle
- perpetuities savings provision
- distributions and accumulations
- definitions
- more
Execution of the revocable trust

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