How the Corporate Transparency Act Affects Your Trusts and Estates Practice

Date:

11/7/2024 at 11:30 AM to 1:00 PM

Event Description

The Corporate Transparency Act (CTA) is intended to catch money laundering, terrorism financing and other unlawful activities by requiring disclosures about beneficial owners. It has a significant impact of estate planning and succession planning. Although a trust is not a “reporting company” under the CTA, a trust may directly or indirectly own or control an interest in a reporting company. Who is considered the beneficial owner of a trust? A trustee, a trust protector, a beneficiary, or the settlor may be considered a beneficial owner. Trust structures need to be reevaluated with special attention to trustee selection, beneficiary determinations, and methods for managing and distributing trust assets.

CREDIT(S):

1.0 SUBSTANTIVE CREDIT

SPEAKER:

Patti S. Spencer

Patti S. Spencer, Esquire
Spencer Law Firm

Patti S. Spencer has been practicing law for over 40 years and continues to focus her practice on estate planning, probate, trusts, taxation, and closely-held business issues. Ms. Spencer often works as a consultant to other attorneys and financial professionals in estate planning, trust and taxation matters as well as serving as an expert witness in fiduciary litigation.

She graduated summa cum laude from Dickinson College and received her J.D. and LL.M. in Taxation from Boston University School of Law. She is a member of both the Pennsylvania and Massachusetts Bars. She taught Estate and Gift Tax Law in the Boston University School of Law Graduate Tax Program for 8 years.

Her column, Taxing Matters, appeared weekly in the “Business Monday” section of the Lancaster Intelligencer Journal for 14 years. She is a frequent lecturer and is the author of numerous articles on estate planning topics. In 2003, Ms. Spencer was elected as a fellow in The American College of Trust and Estate Counsel.

A new edition of Your Estate Matters, a book which is a compilation of Ms. Spencer’s columns was published in January 2015. Your Estate Matters is currently available online at www.amazon.com.

Ms. Spencer is also the author of a reference book for lawyers: “Pennsylvania Estate Planning, Wills and Trusts Library Forms and Practice Manual”, originally published 2007, 3 volumes, updated annually. It is available from Data Trace Publishing Company www.datatrace.com and on Amazon.

LOCATION||TIME:

Lancaster Bar Association

28 East Orange Street

Lancaster, PA 17602

Lunch: 11:30 AM - 12:00 PM
CLE: 12:00 PM - 1:00 PM

PRICING:

LBA Attorney (with credit) - $40.00

LBA Attorney (without credit) - $28.00

LBA Attorney + Paralegal - $65.00

LBA Member Paralegal/Legal Assistant - $30.00

Non-Member (with credit) - $60.50

Non-Member (Attorney, Paralegal, or Legal Assistant without credit) - $48.00