Wills, Trusts & Estates Prof Blog

Income Tax Symposium

Call for papers for Modern Studies in the Law of Trusts, Wealth Management & Philanthropy 2023

The fifth conference in the “Modern Studies in the Law of Trusts, Wealth Management & Philanthropy” series will take place on 27-28 July 2023 at the Yong Pung How School of Law, Singapore Management University (Singapore). The 2023 conference will be co-organised by Singapore Management University, Centre for Commercial Law in Asia, the University of York, and The Dickson Poon School of Law, King’s College London.

The theme of the conference is “The Law of Trusts, Wealth Management & Philanthropy: Innovation and Reform in the Law of Trusts”. The conference will focus on current developments and challenges facing trust law, wealth management and philanthropy, with particular focus on the need for innovations responding to contemporary developments and emerging issues – for example, technological disruption, new forms of regulation, climate change and sustainability goals - that impact global families and how they manage their wealth. The conveners of the conference (Richard Nolan (York), Tang Hang Wu (SMU), Yip Man (SMU) and James Lee (KCL)) plan to publish a selection of the papers presented at the conference in a special edition of a journal (subject to review and availability of space). 

If you would like to offer a paper, please submit a working title and an abstract (of no more than 1500 words) by 15 March 2023 by email to James Lee (james.lee@kcl.ac.uk) and Yip Man (manyip@smu.edu.sg).  The conference conveners are particularly keen to hear from Global South, women and emerging scholars in the field. Acceptance will be on a rolling basis and the conference conveners will be grateful for early submissions. There are no speaker registration fees for those whose papers are accepted this conference. Speakers and attendees are expected to meet their own travel costs and accommodation for this conference. 

Call for Papers -- Annual Meeting on Law and Society

Trusts and Estates Collaborative Research Network (CRN56)

CALL FOR PAPERS 

Annual Meeting on Law and Society

San Juan, Puerto Rico

June 1-4, 2023 

IN PERSON ONLY 

Abstracts deadline: 8 November 2022

The Trusts and Estates Collaborative Research Network invites you to submit your paper and panel proposals for the upcoming annual meeting on Law and Society, to be held in San Juan, Puerto Rico. This conference will be in-person only. There will be no hybrid or virtual panels. 

We invite papers and proposals that touch in any way on succession (inheritance), equity, or wealth transfers more generally. Subjects of inquiry may involve any aspect of government or social policy with respect to trusts, estates, inheritance, wealth transfer, equity or courts with jurisdiction over these issues.

The conference theme of ‘Separate and Unequal’ offers an opportunity to explore the role of law in normalizing inequality and discrimination. However, papers are not limited to these topics.

We welcome any papers on the topic of trusts and estates. For more information about the conference theme, visit:

https://www.lawandsociety.org/sanjuan2023/

How to submit:

To be included in a CRN56 Trusts and Estates session please submit your proposal directly through the Law and Society Association’s website by November 8, making sure to select CRN56 from the dropdown menu. 

We welcome any of the following submissions: 

• Individual papers (we will organize submissions into panels).
• Paper sessions: panels formed around a single theme, with 4 or 5 paper presenters, and a chair/discussant.
• Roundtables: formed around a single topic with 4 to 8 participants, and a chair. 
• Author Meets Reader (AMR): for scholarly books published in 2022. 

Individual abstracts can be submitted in English or Spanish

Session abstracts must be in English, but can be presented in Spanish as long as all papers in the session are in Spanish. 

For more information on the different submission types, and how to submit, visit: https://www.lawandsociety.org/types-of-submissions/

Important information about the conference:

More information including details regarding visa requirements, and accessibility information can be found at the conference website: 

https://www.lawandsociety.org/sanjuan2023/

Creditor’s Rights and Estate Planning Presentation

The American Bar Association, Real Property, Trust, and Estate Law Section will be hosting the Creditor’s Rights and Estate Planning presentation on Tuesday, November 15, 2022.

In this presentation, panelists will address the intersection between the transfer of wealth and creditors’ rights. Given the relatively large federal estate tax exemption amount, many wealth transfers are motivated primarily by creditor avoidance. This esteemed panel, which includes a bankruptcy judge, will address a number of issues that planners should consider as it pertains to the ability of creditors to impact wealth transfer.

Topics will include:

• Bankruptcy law overview;

• Bankruptcy judge perspective;

• The intersection between wealth transfer and fraudulent transfer;

• Estate planner exposure for assisting with aggressive planning;

• Creditor discovery techniques; and

• Creditor tools to unwind the transfer of wealth.

The ABA will seek 1.5 hours of CLE credit in 60-minute states, and 1.8 hours of CLE credit for this program in 50-minute states. Credit hours are estimated and are subject to each state’s approval and credit rounding rules. Please visit www.americanbar.org/mcle for general information on CLE at the ABA.

Speakers:

• Gabriel Aizenberg, Greenberg Traurig, LLP, Chicago, IL

• Judge Catherine Peek McEwen, U.S. Bankruptcy Court, Middle District of Florida, Tampa, FL

• David J. Slenn, Akerman LLP, Naples, FL

 

Advanced Estate Planning Summit Fall 2022

The following announcement was made about the WealthCounsel's Advanced Estate Planning Summit:

Gain new insight and legal strategies for your law practice from some of the most prestigious estate planning experts presenting on cryptocurrency topics at WealthCounsel’s Advanced Estate Planning Summit on October 17 & 18, 2022. Click here for more information.

Trying Times: Conservation Easements and Federal Tax Law 2022

Virtual Program – Thursday, August 11, 2022 11:00am-3:00pm ET/10:00am-2:00pm CT/9:00am-1:00pm MT/8am-Noon PT This four-hour program will address the latest case law and IRS guidance impacting conservation easements. Experts will offer practical advice to land trust staff and board members, government employees, attorneys, appraisers, and landowners. Attendees will have the opportunity to hear the IRS’s perspective and ask questions of a diverse group of panelists who collectively have almost 200 years of experience with conservation easements and tax incentives. Each of three panel presentations will be followed by time devoted solely to Q&A. This program will be streamed live (available as audio and video, or just audio). If August 11th does not work for your schedule, a recording of the program will be made available for a period of time after the event to those who register by August 10th. Panelists ·     Karin Gross, Special Counsel, IRS Office of Chief Counsel, Washington D.C. ·     Stephen J. Small, Esq., Law Office of Stephen J. Small, Esq., P.C., Massachusetts ·     Mark Weston, Consulting appraiser, former AQB Certified USPAP Instructor, and former Director, Colorado Division of Conservation ·     Wendy Fisher, Executive Director, Utah Open Lands ·     Jeanie McIntyre, President, Upper Valley Land Trust ·     Nancy A. McLaughlin, Robert W. Swenson Professor of Law, University of Utah S.J. Quinney College of Law Register online by Noon MT Aug. 10, 2022 >> General Public: $30 Early Bird (ends Aug. 1) $45 after Aug. 1 Students complimentary 4.0 hours Utah CLE (pending). Utah online attendees will need to apply for self-study CLE credits. For CLE in other states, attendees should apply directly to the relevant state bar and we cannot guarantee that other state bar requirements will be satisfied. Sponsored by the Cultural Vision Fund and Utah Open Lands in cooperation with the Wallace Stegner Center.

Urban-Brookings Tax Policy Center Webcast: Wealth taxation in defense of equal citizenship

The following is from an announcement by the Urban-Brookings Tax Policy Center:

Wealth inequality is often discussed in terms of its economic effects rather than its political implications. But money is a form of power, and the wealthy exert an outsized influence on politics. Wealth taxation has the potential, therefore, not only to reduce the concentration of economic power in America, but to strengthen democracy itself. 

On Monday, May 2, the Urban-Brookings Tax Policy Center will host an event considering wealth taxation as a tool of democratic reform. Jeremy Bearer-Friend, associate professor of law at George Washington University Law School, and Vanessa Williamson, senior fellow in Governance Studies at the Brookings Institution, will present their new paper, exploring and updating an underappreciated wealth tax proposal made by the American revolutionary, Thomas Paine, in his 1792 book, “Rights of Man.” Phyllis Taite, professor of law at Oklahoma City University School of Law, will address the potential effects of wealth taxation on the racial wealth gap, and Rakeen Mabud, chief economist at the Groundwork Collaborative, will discuss how taxation fits into a broader reconsideration of economic policy’s political and social purposes. 

Follow this link to register for the program.

Tax & Estate Planning with IRAs after the Secure Act

On Tuesdays, April 26 and May 3, 2022, Seymour Goldberg will present a webinar for the New York County Lawyers Association entitled Estate Planning with IRAs after the Secure Act: Making SOME Sense of the Proposed Regulations. Below is a description of this program:

Many taxpayers have accumulated a considerable amount of assets in their retirement accounts. The Secure Act has created many new technical deadlines that must be followed to avoid IRS penalties. In addition, the IRS on February 23, 2022 released over 270 pages of proposed regulations which practitioners have been struggling to understand.

Tax planning and estate planning for your clients that have substantial retirement assets have become more important than ever. You need to be aware of common errors that frequently take place, and the steps you must take.

The course material will include an updated manual written by Seymour Goldberg entitled, "An Attorney’s Introductory Guide to the IRA Distribution Rules Under the Secure Act."

ACTEC Shares Useful Resources

ACTEC Trust and Estate Talk  (podcast series for professionals)

Understanding Serious Mistakes and Planning Implications in the Smaldino Tax Court Case  Trust and estate lawyers discuss the Smaldino Tax Court ruling, T.C. Memo 2021-127, and the mistakes made in the transactions, as well as the estate planning implications.

Planning for a Diverse and Equitable Future

The Fight for Justice, Reparations and Bruce's Beach  Hear first-hand about the future of Bruce's Beach from the pro bono attorney who took the fight to court and the land-rights activist who took on the city and state to bring public awareness of the racially motivated eminent domain property issue. 

CLE: Estate Planning With Specialty Assets: Carried Interest, SPACS, and QOZ Funds

On Thursday, January 20, 2022 at from 12:00–1:30 PM Eastern, The American Law Institute (ALI) and The American College of Trust and Estate Counsel (ACTEC) are cosponsoring a CLE entitled, Estate Planning With Specialty Assets: Carried Interest, SPACS, and QOZ Funds. 

Below is more information on the CLE: 

Why You Should Attend

Wealth transfer structures can be complicated and have many moving parts. In recent years, new investment opportunities have emerged with the promise and potential for explosive growth and significant tax benefits. Such specialty assets, including interests in special purpose acquisition companies (SPACs), qualified opportunity zone (QOZ) funds, and private investment funds, are increasingly on clients’ radars as good vehicles for wealth transfer. While these assets can provide unique opportunities for leverage, they also come with nuanced pitfalls and risks within the realms of estate, gift, and income taxation. Join us for this 90 minute webcast to learn how seemingly small variations in different structures can result in quite different solutions. Gain a better understanding of the facts and circumstances of the various options and learn ways to create customized plan structures for each of your clients. 

What You Will Learn

The faculty, all Fellows of The American College of Trust and Estate Counsel and highly-experienced estate and tax planning practitioners, will take a deep dive into the lightly chartered waters of estate planning with specialty assets. They will particularly focus on: 

Carried interests in private investment funds

Various categories of interests in SPACs

Interests in QOZ funds

Preferred partnership structures

 Questions submitted during the program will be answered live by the faculty. All registrants will receive a set of downloadable course materials to accompany the program. 

Who Should Attend

Estate planners and other related professionals, particularly those with wealthy clients, will benefit from this CLE on estate planning with specialty assets offered by ALI CLE and ACTEC. 

Register two or more and SAVE! Register as a group for this program and save up to 35% (click here for more details). Click "Register as a Group" to register at these savings. (Offer valid on new registrations in the same delivery format only; discounts may not be combined.)