Essential Estate Planning Through Effective Asset Titling
Lance excels at handling the “big picture” for affluent families by reviewing personalized estate planning and developing asset preservation strategies to help achieve their goals.
2 hour CLE
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Program Summary
This presentation will include a general discussion reflecting the importance and benefits of proper asset titling to achieve estate planning goals. Often, estate planning documents are properly drafted to achieve a client’s estate planning goals, but some or all of the assets comprising the client’s estate are not properly titled, resulting in unintended or disappointing outcomes. This presentation will also outline various forms of legal ownership of assets, and how each form of ownership works at the passing of the owner. Moreover, the presentation will emphasize the mechanics and necessary steps required to retitle/redesignate specific assets, including (i) brokerage accounts, (ii) real estate, and (iii) retirement accounts (beneficiary forms).
Key topics to be discussed:
- Why is proper asset titling so critical?
- Positive and Negative impacts of retitling certain assets
- What are the common mistakes or oversights involved with asset titling?
- Various forms of joint ownership of assets
- Steps necessary to retitle specific assets (brokerage accounts, real estate, etc.)
Closed-captioning available
Speakers
Lance Pruitt
Lance excels at handling the “big picture” for affluent families by reviewing personalized estate planning and developing asset preservation strategies to help achieve their goals. Lance also serves these families during the estate administration process to ensure these strategies come to fruition.
Lance practiced law for several years before joining the team in 2004. As an attorney, he primarily focused on estate and tax planning, estate administration, defending clients before the IRS and Tennessee Department of Revenue, and corporate planning.* He holds degrees from the University of Tennessee (B.S.), Southern Illinois University School of Law (J.D.), and the University of Missouri-Kansas City School of Law (LL.M. in Taxation)*. Lance is a member of the Knoxville Bar Association and is an adjunct professor at Tusculum College where he teaches Business Law.
Agenda
I. Why is proper asset titling so critical? | 11:00am – 11:20am
II. Positive and Negative impacts of retitling certain assets | 11:20am – 11:40am
III. What are the common mistakes or oversights involved with asset titling? | 11:40am – 12:00pm
Break | 12:00pm – 12:10pm
IV. Various forms of joint ownership of assets | 12:10pm – 12:40pm
V. Steps necessary to retitle specific assets (brokerage accounts, real estate, etc.) | 12:40pm – 1:10pm
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