Empowering Your Practice: Estate Planning Fundamentals

This presentation underscores the critical role of thoughtful, flexibly-drafted estate planning to ensure that a client’s wishes are effectively carried out over the course of many generations and withstand the test of time. A great estate plan is not just about drafting — it requires careful attention to detail, modern tools, and forward-thinking strategies to avoid common pitfalls. By following key Scrivener’s Commandments — handling plans with care, drafting with intention, leveraging technology, and anticipating real-world execution issues — estate planners can create documents that stand the test of time.

The discussion highlights major drafting mistakes, such as improperly funded trusts, conflicting asset designations, and inadequate tax planning, while offering practical solutions to avoid them. Ultimately, the success of an estate plan depends on its clarity, adaptability, and the planner’s ability to foresee and mitigate potential challenges before they arise.

Topics covered include:

Practice Skills

Agenda:

Introduction & Overview
- Brief introduction of Leah Del Percio and her background
- The importance of estate planning with administration in mind
- Even the best estate plans fail without proper execution
The Estate Planner’s Commandments
- Handle With Care
- Never Thoughtlessly Draft
- Use Modern Resources
- Handle More Estate Administrations
Estate Administration: The Good, The Bad & The Ugly
- The Good: Fulfilling, profitable, and helps people during difficult times
- The Bad: Clients often face distress, and attorneys bear the burden of bad news
- The Ugly: Errors, fines, lawsuits, and malpractice risks if not handled properly
Common Mistakes in Estate Planning & How To Avoid Them
- Unfunded Revocable Trusts — Ensure funding to avoid probate
- Incomplete Revocable Trusts — Ensure all required signatures
- Specific Bequests of Nonprobate Assets — Be careful with retirement accounts & TODs
- Fluctuating Asset Bequests — Avoid unintended disparities
- Improper Allocation of Assets in Estate Tax States — State-specific planning matters
- Mishandling Tax-Deferred Assets — Use see-through trusts, avoid naming estate as beneficiary
- Not Accounting for Death During Divorce — Add protective language
- No Self-Proving Affidavit & No Bond Waiver — Best practices to avoid probate delays
- Distribution Terms Errors — Stick to clear ascertainable standards like HEMS
- Not Filing Portability Return — Don’t miss estate tax exemptions (IRS Form 706)
- Failing to Communicate Probate Delays — Set proper client expectations
- Practicing in States Where You’re Not Licensed — UTC differences between states
- Missing an Asset — Leads to tax consequences & probate issues
Questions & Answers (as time permits)

Duration of this webinar: 60 minutes

Originally broadcast: March 05, 2025 10:00 AM PT

Webinar Highlights

This webinar is divided into section summaries, which you can scan for key points and then dive into the sections that interest you the most.

00:00 Introduction and Speaker Background

Lavinia introduces the webinar, highlighting the benefits of Justia Connect Pro membership, including CLE credits and enhanced directory profiles. She introduces Leah Del Percio, the speaker, who is the CEO and co-founder of Trustate, a leading estate administration platform. Leah shares her extensive experience as a trust and estates attorney, emphasizing her role in fixing problematic wills and trusts. She discusses the importance of understanding the complexities of estate planning and administration, drawing from her comprehensive experience in the field. Leah aims to provide insights into estate planning fundamentals, focusing on both planning and administration aspects.

05:11 Estate Planning Commandments

Leah introduces the concept of 'scrivener's commandments' for estate planning, emphasizing the importance of careful handling of clients' wealth. She stresses the need for modern resources to aid in drafting wills and trusts, while cautioning against over-reliance on them. Leah highlights the significance of handling estate administrations to gain practical insights and improve planning skills. She underscores the importance of counseling clients, ensuring they understand the complexities and implications of their estate plans. Leah warns against common pitfalls, such as unfunded trusts and improper asset allocation, which can lead to estate litigation.

33:33 Common Estate Planning Mistakes

Leah discusses common estate planning mistakes, such as unfunded revocable trusts and incomplete trust agreements. She warns against specific bequests of non-probate assets, which can lead to conflicts and unintended outcomes. Leah advises against specific bequests of fluctuating assets, as they can create disparities among beneficiaries. She emphasizes the importance of proper asset allocation between spouses in estate tax states to avoid unnecessary taxes. Leah highlights the need for careful handling of tax-deferred assets to prevent adverse tax consequences for beneficiaries.

48:18 Advanced Estate Planning Considerations

Leah discusses advanced estate planning considerations, including the handling of retirement assets in trusts. She emphasizes the importance of accounting for potential divorce scenarios in estate planning documents. Leah advises on the inclusion of self-proving affidavits and waivers of bond in wills to prevent future complications. She highlights the significance of clear distribution terms and the use of portability to maximize estate tax benefits. Leah stresses the importance of proper document storage and the risks of practicing in states where one is not licensed.

01:02:12 Q&A and Conclusion

Leah recaps the key commandments of estate planning, emphasizing the importance of client counseling and careful drafting. She answers questions on trust protectors, powers of appointment, and the frequency of estate plan reviews. Leah discusses common errors in estate administration and strategies for drafting flexible yet clear distribution terms. The session concludes with a reminder of the benefits of Justia Connect Pro membership and an invitation to explore further resources. Participants are encouraged to complete verification and reach out to Justia Support for assistance if needed.

Please note this AI-generated summary provides a general overview of the webinar but may not capture all details, nuances, or the exact words of the speaker. For complete accuracy, please refer to the original webinar recording.

Continuing Legal Education (CLE) Credits

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California CLE

Status: Approved

Credits: 1.00 General

Earn Credit Until: June 30, 2026

South Carolina CLE

Status: Approved

Credits: 1.00 General

Difficulty: All Levels

Earn Credit Until: December 31, 2025

North Carolina CLE

Status: Approved

Credits: 1.00 General

Earn Credit Until: February 28, 2026

Texas CLE

Status: Approved

Credits: 1.00 General

Earn Credit Until: February 28, 2026

This presentation is approved for one hour of General CLE credit in California, South Carolina (all levels), and North Carolina. This course has been approved for Minimum Continuing Legal Education credit by the State Bar of Texas Committee on MCLE in the amount of 1.00 credit hours.

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Speaker

Leah Del Percio CEO & Founder
Trustate

Leah Del Percio is the President, CEO, and co-founder of Trustate, one of the world’s fastest-growing estate administration platforms. Since Trustate’s founding in 2020, Ms. Del Percio has been involved in all aspects of the firm's development and growth. Trustate provides B2B tools to various stakeholders throughout the estate administration process including law firms, wealth managers, banks, and accountants, amongst others. Today, the firm is an industry leader in the LegalTech space and is regularly featured as one of the top startups to watch. Read More ›