A, B, C’s of Revocable and Irrevocable Trusts

Joseph M. Donohue | Donohue, Beasley & Ferber PLLC

Attorney Joseph Donohue, Managing Member of Donohue, O’Connell & Riley PLLC, has expertly advised thousands of clients on how to structure their personal affairs and businesses to minimize taxes, reduce their exposure to unforeseen liabilities and ensure a smooth transition of assets between generations. Joe has a unique ability to efficiently process all the complexities of a situation, explain the best strategy in simple terms and craft a plan that protects families and preserves his clients’ legacies. Affluent families and business owners trust Joe to maximize the tax efficiency of their real estate, investment and insurance assets and work with their team of trusted advisors to manage their plans.

Joe graduated summa cum laude from Boston University with a bachelor’s degree in English Literature and Art History and a minor in French. He was elected as a member of Phi Beta Kappa and graduated with distinction. He then went on to study for three years at Oxford University, where he graduated with a Master of Philosophy in English Literature. He went on to pursue his legal studies at Boston College Law School, where he earned his Juris Doctor with honors and served as executive editor of the BC Law Review.

Georgia Bender | Donohue, Beasley & Ferber PLLC

Attorney Georgia Bender joined the Warwick office of Stage and Donohue PLLC in August 2024 as an Associate Attorney. Georgia brings several years of experience from working as an associate at two prestigious law firms in New Jersey and New York. She enjoys interacting with clients, is comfortable dealing with complexity and has strong research acumen. We appreciate having her on our team to continue our high quality of service to the Orange County community.

Session I – Considerations: Revocable vs. Irrevocable | 2:00pm – 3:00pm

• Revocable vs. irrevocable
  • Flexibility
  • Tax treatment
  • Asset protection
  • Life circumstances
• Revocable trusts
  • Joint vs. his & hers
  • Income taxes
  • Estate taxes
  • Ideal candidates

Break | 3:00pm – 3:10pm

Session II – Irrevocable Trusts and Trust Administration | 3:10pm – 4:10pm

• Common types of irrevocable trusts
  • Medicaid asset protection
  • Spousal lifetime access
  • Irrevocable life insurance
  • Special needs
  • Drafting tips
• Trust administration
  • Separate EIN needs
  • 4 key phases of trust administration
  • Avoiding trust contests
  • Protecting your fiduciary