Wills, Trusts & Estates Prof Blog

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

A Member of the Law Professor Blogs Network

Sunday, March 29, 2015

CLE on Domestic Asset Protection Trust Planning in Arizona, Maryland, Nevada, New Hampshire

CLEThe ABA Section of Real Property, Trust and Estate Law is presenting the fourth 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 Arizona, Maryland, Nevada, New Hampshire on Tuesday, April 14, 2015, 12:00 – 1:30 p.m. CT. 1.5 General CLE Credit Hours. Here is why you should attend:

15 states, such as Nevada and New Hampshire, permit the creation of full blown self-settled asset protection trusts. Besides the 15, at least 10 other states, including Arizona and Maryland, 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. Over the course of this e-CLE, the presenters will address domestic self-settled asset protection trust statutes and inter vivos QTIP trust statutes, and discuss:

  • 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?

March 29, 2015 in Conferences & CLE, Estate Planning - Generally, Non-Probate Assets, Trusts | Permalink | Comments (0) | TrackBack (0)

Friday, March 27, 2015

CLE on Domestic Asset Protection and Inter Vivos QTIP Trusts

CLE Photo

The American Bar Association Section of Real Property, Trust and Estate Law is holding an eCLE entitled, 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.  Upcoming webinars will be held on April 14th and June 9th.   Here is why you should attend:

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?

These are just some of the questions that will be answered over the course of five eCLE webinars addressing some of the full blown domestic self-settled asset protection trust statutes and inter vivos QTIP trust statutes.

March 27, 2015 in Conferences & CLE, Estate Administration, Estate Planning - Generally, Trusts | Permalink | Comments (0) | TrackBack (0)

Thursday, March 26, 2015

Book on Asset Protection Planning

Asset Protection PlanningJames M. Lestikow and Robert Alan Romanoff's book plus DVD package entitled Asset Protection Planning also counts for 4.00 General and 1.00 Professional Responsibility CLE credit hours. Provided below is a description of the package from the ABA Store:

Protect your clients’ personal and business holdings against future risk with this book and video combination pack!

 Asset protection planning takes many forms. It includes basic advice, inherent in common estate planning strategies, covering such things as gifting, testamentary trusts, revocable trusts, and postmortem planning. It is one of the major motivations in creating limited liability entities for new businesses and to hold family assets. It impacts family lawyers who prepare premarital agreements, as well as real estate lawyers contemplating taking title to acquired property, as well as lawyers counseling clients filing for bankruptcy protection. At the other end of the spectrum are transactions related to removing assets from the easy reach of unknown and potential creditors, which include domestic and foreign asset protection trusts.

This Asset Protection Planning package covers these strategies and more, including sections on:

  • Practical and Ethical Considerations
  • Fraudulent Transfers
  • Bankruptcy Issues Under the Bankruptcy Abuse Prevention and Consumer
  • Protection Act
  • Protecting Family Assets
  • Drafting Considerations for Trusts
  • Planning for Exempt Assets
  • Protecting Business Assets
  • Asset Protection During Estate and Trust Administration
  • Onshore Trusts            

Benefit from highly experienced estate and financial planners as they guide you through how to protect your client’s family and business assets. Asset Protection Planning provides a thorough and highly informative resource for both seasoned planners and those who are still learning the foundations of a solid practice. Includes downloadable forms.

Video available for CLE credit: 4.00 General, 1.00 Professional Responsibility.

March 26, 2015 in Books, Conferences & CLE, Estate Planning - Generally, Professional Responsibility, Trusts | Permalink | Comments (0) | TrackBack (0)

Wednesday, March 25, 2015

CLE on Using Lifetime QTIPs

CLE Photo

The American Bar Association Section of Real Property, Trust and Estate Law is holding a CLE entitled, Creative Estate Planning Strategies for Using Lifetime QTIPs, on April 7th from 12:00 – 1:30 PM CT via webinar.  Here is why you should attend:

Lifetime QTIPs, once used infrequently, are now increasing in popularity as planners see their tremendous benefits. In fact, lifetime QTIPs are perhaps one of the best and most under-utilized estate planning techniques.

Recent changes to the income and transfer tax laws contribute to the utility of lifetime QTIPs, catapulting it into the main stream of every-day planners. The Tax Relief, Unemployment Insurance Reauthorization, and Job Creation Act of 2010 and the American Taxpayer Relief Act introduced portability and generally increased the income tax rates relative to the estate tax rates. As a result of these changes, lifetime QTIPs can be used to ensure higher exclusions of both spouses are used notwithstanding the order of deaths and to achieve better income tax results, but that is just the tip of the iceberg!  

Lifetime QTIPs must provide a qualifying interest for life to the beneficiary spouse, notwithstanding the possibility of divorce.  The panel will sort through the post-divorce income tax and marital law implications that must be considered when establishing a lifetime QTIP.

March 25, 2015 in Conferences & CLE, Estate Administration, Estate Planning - Generally, Trusts | Permalink | Comments (0) | TrackBack (0)

Saturday, March 21, 2015

CLE on Planning Techniques for Large Estates

CLEThe American Law Institute Continuing Legal Education (ALI CLE) is presenting a CLE entitled, Planning Techniques for Large Estates, on April 8 – 10, 2015 in Scottsdale, AZ and via webcast.  Here is why you should attend:

 Planning for large estates continues to be a technically demanding and dynamic area of practice. Don’t miss the best opportunity in 2015 to fine tune your knowledge and stay up-to-date! 

Attend this highly-rated course and get the latest information and planning techniques specifically for large estates. Learn, network, and strategize with your peers and a highly experienced faculty of trust and estate practitioners from across the country.

Featuring in-depth discussions of estate and gift tax issues and planning techniques, this year’s topics include:

  • business succession planning
  • charitable planning issues
  • legislative developments and outlook
  • remainder interest purchase planning techniques
  • postmortem estate planning
  • valuation issues
  • ethics and privileges
What You Will Learn

Get the tools you need to advise your clients on the latest wealth planning and tax strategies. Led by a nationally recognized faculty of trust and estate experts, this advanced course addresses the most sophisticated problems and considerations unique to planning large estates.

Whether you are a new or returning attendee, this program will keep you on the leading edge of wealth planning and estate practice. New topics this year include:

  • Business Succession Planning: Keeping It in the Family
  • Striking the Balance: Fiduciary Income, Net Investment Income, Capital Gains, and Other     Non-Transfer Tax Consequences of Transfer Tax Planning
  • Generation Skipping Transfer Tax Planning
  • Legislative, Valuation, and Other Developments 2015
  • Creative Uses of Remainder Interest Purchase Planning Techniques
  • A Potpourri of Charitable Planning Issues (and Traps) You Might Have Never Thought About Before

Discussions are based on changing fact patterns and solutions, rather than simply principles of law or statutory provisions. Each topic is explored in depth, presenting key issues, alternative approaches, and practical planning strategies.

March 21, 2015 in Conferences & CLE, Estate Planning - Generally | Permalink | Comments (0) | TrackBack (0)

Friday, March 20, 2015

CLE on Estate Planning for the Family Business Owner

CLE Photo

The American Law Institute Continuing Legal Education (ALI CLE) is holding a CLE entitled, Estate Planning for the Family Business Owner, July 8-10, 2015 at the Marriott Fisherman’s Wharf in San Francisco, CA.  Here is why you should attend:

Whether you advise or own a family business, or are an estate planner requiring a deeper understanding of the closely-held business, this one-of-a-kind course is for you. Instruction runs the gamut, including choice of entity, charitable planning, estate planning, and tax matters— even ways to guide owners on the need for appropriate business planning. Explore the latest strategies for family business succession planning, learn how to customize your plan for particular situations, and find new ways to
implement your plans with workable best practices, including buy-sell agreements.

March 20, 2015 in Conferences & CLE, Estate Administration, Estate Planning - Generally, Non-Probate Assets | Permalink | Comments (0) | TrackBack (0)

Monday, March 9, 2015

CLE: Kansas City Estate Planning Symposium

CLEThe Estate Planning Society of Kansas City, the Financial Planning Association of Greater Kansas City, and University of Missouri Kansas City School of Law are presenting the Kansas City Estate Planning Symposium, April 23-24, 2015, at the Overland Park Convention Center in Overland Park, Kansas.  Here is why you should attend:

The Kansas City Estate Planning Symposium is the Midwest’s answer to the leading national conferences, featuring nationally recognized speakers at a fraction of the cost. You will advance your career, gaining knowledge and relationships that will help you better serve your clients.  Plus, earn up to a year’s worth of Continuing Education Credits.

The Symposium will include critical information for:

  • Estate Planning Attorneys
  • Business and Tax Attorneys
  • CPAs
  • Trust Officers
  • Planned Giving Professionals
  • CFPs®/Financial Planners
  • Life Underwriters

March 9, 2015 in Conferences & CLE, Estate Planning - Generally | Permalink | Comments (0) | TrackBack (0)

Saturday, March 7, 2015

CLE on Revocable Trusts and Incapacity Planning

CLEThe University of Illinois College of Law is presenting a lecture entitled, Revocable Trusts and Incapacity Planning: More than Just a Will Substitute, Monday, March 09, 2015, 12:00–1:00 PM, at the Max L. Rowe Auditorium, Law Building.  Here is why you should attend:

Robert H. Sitkoff will deliver "Revocable Trusts and Incapacity Planning: More than Just a Will Substitute" - the spring 2015 Ann F. Baum Memorial Elder Law Lecture.

An expert in wills, trusts, estates, and fiduciary administration, Robert H. Sitkoff is the John L. Gray Professor of Law at Harvard University. 

Lunch will be provided for lecture attendees. The lecture is free and open to the public.

This lecture has been approved for one hour of Illinois CLE credit.

Special thanks to Richard Kaplan (Peer and Sarah Pedersen Professor of Law, University of Illinois College of Law) for bringing this to my attention.

March 7, 2015 in Conferences & CLE, Estate Planning - Generally, Trusts | Permalink | Comments (0) | TrackBack (0)

Thursday, March 5, 2015

Webinar on Same Sex Marriage

CLEThe ABA Section of Real Property, Trust and Estate Law is presenting a non-CLE free webinar entitled, Same Sex Marriage On the Cusp: Remaining Issues of Non-recognition and Guesses about the Future, Wednesday, March 11, 2015, 12:30- 1:30 PM ET.  Here is why you should attend:

Speakers:

  • Professor Amy Morriss Hess, University of Tennessee
  • William P. LaPiana, Rita and Joesph Solomon Professor of Willis, Trusts, and Estates and Director of Estate Planning Studies Graduate Tax Program, New York Law Law School
  • Lee-Ford Tritt, Professor of Law; Director, Center for Estate Planning, Director, Estates &   Trusts Practice Certificate Program; and Associate Director, Center on Children and Families, Levin College of Law, University of Florida

This program will deal with a number of important recent developments for those who advise and plan for same-sex couples.  The speakers will then discuss several questions that remain and attempt to predict their most likely answers.

The speakers’ first topic will be geography: where same-sex marriage is and is not legally possible and the meaning of the cases to be argued before the United States Supreme Court this spring. Next, Professors LaPiana and Tritt will address the state of federal recognition of the marriages of same-sex couples—which agencies use a place of celebration standard and which use a place of residence standard, with special emphasis on the latest regulations dealing with the Federal Medical Leave Act (“FMLA”) and the Social Security Administration’s recognition of marriage equivalents that give inheritance rights.  Finally, the speakers will outline the transition issues will have to be faced in those states where same-sex marriage is still illegal, assuming that the result of this spring’s litigation before the Supreme Court is nationwide recognition.

March 5, 2015 in Conferences & CLE, Current Affairs, Current Events, Estate Planning - Generally | Permalink | Comments (0) | TrackBack (0)

Wednesday, March 4, 2015

CLE on Planning Techniques for Large Estates

CLEThe American Law Institute Continuing Legal Education (ALI CLE) is presenting a CLE entitled, Planning Techniques for Large Estates, on April 8 – 10, 2015 in Scottsdale, AZ and via webcast.  Here is why you should attend:

 Planning for large estates continues to be a technically demanding and dynamic area of practice. Don’t miss the best opportunity in 2015 to fine tune your knowledge and stay up-to-date! 

Attend this highly-rated course and get the latest information and planning techniques specifically for large estates. Learn, network, and strategize with your peers and a highly experienced faculty of trust and estate practitioners from across the country.

Featuring in-depth discussions of estate and gift tax issues and planning techniques, this year’s topics include:

  • business succession planning
  • charitable planning issues
  • legislative developments and outlook
  • remainder interest purchase planning techniques
  • postmortem estate planning
  • valuation issues
  • ethics and privileges
What You Will Learn

Get the tools you need to advise your clients on the latest wealth planning and tax strategies. Led by a nationally recognized faculty of trust and estate experts, this advanced course addresses the most sophisticated problems and considerations unique to planning large estates.

Whether you are a new or returning attendee, this program will keep you on the leading edge of wealth planning and estate practice. New topics this year include:

  • Business Succession Planning: Keeping It in the Family
  • Striking the Balance: Fiduciary Income, Net Investment Income, Capital Gains, and Other     Non-Transfer Tax Consequences of Transfer Tax Planning
  • Generation Skipping Transfer Tax Planning
  • Legislative, Valuation, and Other Developments 2015
  • Creative Uses of Remainder Interest Purchase Planning Techniques
  • A Potpourri of Charitable Planning Issues (and Traps) You Might Have Never Thought About Before

Discussions are based on changing fact patterns and solutions, rather than simply principles of law or statutory provisions. Each topic is explored in depth, presenting key issues, alternative approaches, and practical planning strategies.

March 4, 2015 in Conferences & CLE, Estate Planning - Generally, Estate Tax, Gift Tax | Permalink | Comments (0) | TrackBack (0)