Wills, Trusts & Estates Prof Blog

Editor: Gerry W. Beyer
Texas Tech Univ. School of Law

A Member of the Law Professor Blogs Network

Saturday, November 22, 2014

CLE on Tax Developments for Estate Planners

CLE Photo

The American Law Institute Continuing Legal Education (ALI CLE) is holding a CLE entitled, Recent Tax Developments for Estate Planners, on December 10, 2014 from 12:30 – 2:00 p.m. Eastern, available via telephone seminar or audio webcast.  Here is why you should attend:

Since the passage of the American Taxpayer Relief Act of 2012, plans to minimize estate taxes have been much less important for the majority of Americans. However, higher marginal income tax rates and the “Medicare” tax on net investment income can still negatively affect estates and beneficiaries.

As 2014 draws to a close, what recent tax developments should be considered by estate planners so that they can most effectively assist their clients with wealth management and estate planning? Join veteran estate planners with expertise in taxation issues for an enlightening discussion of caselaw and administrative and legislative changes that affect testators, grantors, and beneficiaries.

November 22, 2014 in Conferences & CLE, Estate Planning - Generally, Estate Tax, Income Tax | Permalink | Comments (0) | TrackBack (0)

Wednesday, November 19, 2014

CLE on Asset Protection and Bankruptcy

CLE Photo

The American Law Institute Continuing Legal Education (ALI CLE) is holding a CLE entitled, Asset Protection and Bankruptcy: What Estate Planners Need to Know, on December 4, 2014 from 12:30 p.m. – 2:00 p.m Eastern, available via telephone seminar or audio webcast.  Here is why you should attend:

If you are even a bit uncomfortable with the provisions of the U.S. Bankruptcy Code, then be sure to register for ALI CLE’s program with leading bankruptcy and estate planning lawyers for a fast-paced review of bankruptcy provisions to know when engaging in estate and asset protection planning.

Planners who utilize trusts as part of their estate planning should understand the effectiveness of certain provisions in a bankruptcy setting (e.g., when an interest in a trust is included in the bankruptcy estate, the impact on holdback/spendthrift clauses under various scenarios, etc.).  Furthermore, do you know when the state exemptions apply and when federal law is trumped by the state exemptions?

The recent U. S. Supreme Court decision in Clark v. Rameker came as a surprise to many estate planners. The case highlights the fact that many estate and asset protection plans are created without consideration to the effect of bankruptcy.

November 19, 2014 in Conferences & CLE, Estate Administration, Estate Planning - Generally, Trusts | Permalink | Comments (0) | TrackBack (0)

Monday, November 17, 2014

CLE on Domestic Asset Protection Trust Planning in Florida, Texas, and Tennessee

CLEThe ABA Section of Real Property, Trust and Estate Law is presenting the second of five eCLE webinars that are part the Domestic Asset Protection Trust Planning: Jurisdiction Selection Series. The upcoming webinar will focus on asset protection laws in Florida, Texas, and Tennessee on Tuesday, December 9, 2014, 12:00 – 1:30 p.m. CT.  1.50 General CLE Credit Hours. Here is why you should attend:

There's No Place Like Home - Domestic Self-Settled Asset Protection Trusts and Inter Vivos QTIP Trusts: Why Do Them and Where To Go When You Do

Effective July 1, 2014, Mississippi became the 15th state to permit the creation of full blown self-settled asset protection trusts. Besides the 15, at least 10 other states allow some form of an asset protection trust, including inter vivos QTIP trusts. The proliferation of domestic asset protection trusts leaves attorneys inquiring about the laws in each asset protection state and the benefits of creating such a trust in one state versus another. Other frequently asked questions include:

    • What is an inter vivos QTIP trust and how can it help my clients?
    • Will domestic self-settled asset protection trusts benefit my clients?
    • Do the costs of creating a trust in one state for creditor protection or taxation benefits really outweigh the creation of such a trust in another?
    • Is the trust really protected from creditors?
    • Can the trust be used to avoid the income tax in the grantor's state of residence?
    • Can a same sex couple benefit from the use of these trusts?
    • Is using an offshore trust better?

November 17, 2014 in Conferences & CLE, Estate Planning - Generally, Non-Probate Assets, Trusts | Permalink | Comments (0) | TrackBack (0)

Wednesday, November 12, 2014

CLE on Special Needs Trusts

CLE Photo

The University of Texas Law School Continuing Legal Education presents the 11th Annual Changes and Trends Affecting Special Needs Trusts on February 5-6, 2014 at the Radisson Hotel and Suites Downtown Austin, Texas.  Here is why you should attend:

The 11th Annual Changes and Trends Affecting Special Needs Trusts brings together leading professionals in the SNT field, features the latest updates and hot topics, and offers a great set of materials including sample forms, drafting tips, sample language and resources. 

2015 program highlights include:

    • Get your Special Needs Trusts Basics on Thursday morning—the perfect foundation (and refresher!) for both new and experienced practitioners
    • Gain unique insight into drafting and administering SNTs from a panel of experienced attorney-trustees
    • Understand the options and opportunities in funding SNTs with IRAs
    • Explore the role of Medicare in special needs trust planning and what it means to practitioners in Texas
    • Learn the rules for calculating deemed income for SSI recipients
    • Review the steps necessary to close administration of an SNT, including probate proceedings and Medicaid reimbursement requirements
    • Hear updates and current issues from key agencies, including the Texas Health and Human Services Commission (HHSC) and the Centers for Medicare & Medicaid Services (CMMS)
    • Learn more about available resources for your clients, including the Arc’s new online resource as well as options for affordable housing in Texas for adults with cognitive disabilities
    • Earn up to 2.25 hours of ethics

November 12, 2014 in Conferences & CLE, Estate Administration, Estate Planning - Generally, Trusts | Permalink | Comments (0) | TrackBack (0)

CLE on SCINS and Private Annuities

CLENext week, the ABA Section of Real Property, Trust and Estate Law is presenting an eCLE entitled, SCINS and Private Annuities: Using Bet-to-Die Estate Planning Techniques, Thursday, November 20, 2014, 1:00 – 2:30 p.m. ET.  Here is why you should attend:

Advanced estate planning often includes leveraged sales in order to maximize the transfer of wealth to the next generation. Rather than always using a traditional promissory note, it is often beneficial to structure the payments using a SCIN or a Private Annuity. Both of these options are considered bet-to-die techniques because the payments generally stop upon the transferor's death.

In this program, the presenters will illustrate the advantages of using these payment options and why they can substantially increase the wealth transfer in comparison to using a traditional promissory note. Attendees should leave this presentation with a greater understanding of the various payment options, including an understanding of why each option might be selected for a given fact pattern.

November 12, 2014 in Conferences & CLE, Estate Planning - Generally, Non-Probate Assets | Permalink | Comments (0) | TrackBack (0)

Monday, November 10, 2014

CLE on Estate Planning Strategies

CLE Photo

The Texas Bar Continuing Legal Education (CLE) is holding the 21st Annual Advanced Estate Planning Strategies Course on April 9-10, 2015 in Santa Fe, NM.  Here is why you should attend:

A highly interactive conference among panelists and attendees, Advanced Estate Planning Strategies will address four high level estate planning topics you grapple with in your daily practice. Panel discussions include:

    • Estate and Tax Planning with Natural Resources
    • Post Death Modifications, Reformations and Restructuring Addressing Tax and Litigation Components
    • Planning for and Dealing with Incapacity Issues
    • Selected Tax Issues Affecting Your Estate, Trust and Gift Planning Clients

Your registration fee includes breakfast both days, lunch on Thursday, complimentary wireless signal and convenient access to powerstrips in the meeting room, and networking socials on Wednesday and Thursday.

November 10, 2014 in Conferences & CLE, Estate Planning - Generally, Trusts | Permalink | Comments (0) | TrackBack (0)

Wednesday, November 5, 2014

CLE on Asset Protection and Bankruptcy

CLEThe American Law Institute Continuing Legal Education (ALI CLE) is presenting a CLE entitled, Asset Protection and Bankruptcy: What Estate Planners Need to Know, Thursday December 4, 2014, 12:30 – 2:00pm Eastern, online and by phone.  Here is why you should attend:

If you are even a bit uncomfortable with the provisions of the U.S. Bankruptcy Code, then be sure to register for ALI CLE’s program with leading bankruptcy and estate planning lawyers for a fast-paced review of bankruptcy provisions to know when engaging in estate and asset protection planning.

Planners who utilize trusts as part of their estate planning should understand the effectiveness of certain provisions in a bankruptcy setting (e.g., when an interest in a trust is included in the bankruptcy estate, the impact on holdback/spendthrift clauses under various scenarios, etc.).  Furthermore, do you know when the state exemptions apply and when federal law is trumped by the state exemptions?

The recent U. S. Supreme Court decision in Clark v. Rameker came as a surprise to many estate planners. The case highlights the fact that many estate and asset protection plans are created without consideration to the effect of bankruptcy.

Topics to be discussed include:

  • brief overview of bankruptcy, including involuntary bankruptcy;
  • scope of the bankruptcy estate, including reporting requirements for a debtor who is or becomes a beneficiary;
  • scope of a bankruptcy trustee's avoidance and recovery powers, especially pertaining to fraudulent transfers;
  • fraudulent transfers and clawback theories such as constructive trusts and unjust enrichment;
  • strategies for dealing with recalcitrant debtors and debtors who have beneficial interests in asset protection trusts;
  • use of exemptions - including identifying when state exemptions trump federal exemptions; and
  • effect of a denial of discharge

November 5, 2014 in Conferences & CLE, Estate Planning - Generally | Permalink | Comments (0) | TrackBack (0)

Friday, October 31, 2014

CLE on SCINS and Private Annuities

CLEThe ABA Section of Real Property, Trust and Estate Law is presenting an eCLE entitled, SCINS and Private Annuities: Using Bet-to-Die Estate Planning Techniques, Thursday, November 20, 2014, 1:00 – 2:30 p.m. ET.  Here is why you should attend:

Advanced estate planning often includes leveraged sales in order to maximize the transfer of wealth to the next generation. Rather than always using a traditional promissory note, it is often beneficial to structure the payments using a SCIN or a Private Annuity. Both of these options are considered bet-to-die techniques because the payments generally stop upon the transferor's death.

In this program, the presenters will illustrate the advantages of using these payment options and why they can substantially increase the wealth transfer in comparison to using a traditional promissory note. Attendees should leave this presentation with a greater understanding of the various payment options, including an understanding of why each option might be selected for a given fact pattern.

October 31, 2014 in Conferences & CLE, Estate Planning - Generally, Non-Probate Assets | Permalink | Comments (0) | TrackBack (0)

Friday, October 24, 2014

CLE on Recent Tax Developments for Estate Planners

CLEThe American Law Institute Continuing Legal Education (ALI CLE) is presenting a CLE entitled, Recent Tax Developments for Estate Planners, Wednesday December 10, 2014, 12:30 – 2:00pm Eastern, online and by phone. Here is why you should attend:

Since the passage of the American Taxpayer Relief Act of 2012, plans to minimize estate taxes have been much less important for the majority of Americans. However, higher marginal income tax rates and the “Medicare” tax on net investment income can still negatively affect estates and beneficiaries.

As 2014 draws to a close, what recent tax developments should be considered by estate planners so that they can most effectively assist their clients with wealth management and estate planning? Join veteran estate planners with expertise in taxation issues for an enlightening discussion of caselaw and administrative and legislative changes that affect testators, grantors, and beneficiaries.

What You Will Learn

Fellows of The American College of Trust and Estate Counsel will discuss the most recent cases, rulings, and other federal tax developments that are likely to be of interest to estate planners across the country.

Particularly emphasized will be how practitioners will want to incorporate these developments into the practice to avoid problems and take advantage of opportunities. Any year-end sensitive topics will also command center stage.

Questions submitted during the program will be answered live by the faculty. In addition, all registrants will receive a set of downloadable course materials and free access to the archived online program.

October 24, 2014 in Conferences & CLE, Estate Planning - Generally, Estate Tax | Permalink | Comments (0) | TrackBack (0)

Thursday, October 23, 2014

CLE on Using Technology to Meet the Challenges of Today's Trust & Estate Practice

CLEThe American Law Institute Continuing Legal Education (ALI CLE) is presenting a CLE entitled, Using Technology to Meet the Challenges of Today's Trust & Estate Practice, Wednesday November 12, 2014, 12:30 – 2:00pm Eastern, online and by phone. Here is why you should attend:

The complexity of an estate planning practice places great demands on your time and your intellect. What are some of the best technological tools that estate planners can use today?

Technology offers time saving benefits of not repeating mindlessly similar computations, and prevents math errors. Join Fellows of the American College of Trust and Estate Counsel for a scintillating discussion of the latest developments in technology for estate planning.

Faculty will discuss:

  • the great and not so great of Document Assembly Engine (DAE) solutions
  • suggested sites for commercial spreadsheets and information on preparing your own
  • tips for producing client diagrams and flowcharts
  • iPad and iPhone apps for trust and estate practitioners
  • free web site resources from The American College of Trust and Estate Counsel (ACTEC) and the ABA Real Property, Probate and Trust Law (RPTE) Section
  • research and other resources on the Internet for trust and estate practitioners

October 23, 2014 in Conferences & CLE, Estate Planning - Generally, Technology, Trusts, Web/Tech | Permalink | Comments (0) | TrackBack (0)