Wills, Trusts & Estates Prof Blog

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

Friday, December 7, 2018

CLE on Estate Planning 101: What You Need to Know About the Tax Cuts and Jobs Act

CLEThe American Bar Association is holding a webcast entitled, Estate Planning 101: What You Need to Know About the Tax Cuts and Jobs Act, on Wednesday, December 12, 2018, at 1:00 p.m. Eastern. Provided below is a description of the event.

This new legislation changes the landscape for trust and estate planning opportunities for many individuals. These major changes will greatly reduce or eliminate the tax liability for those transferring wealth.

Our panel will:

  • Planning for increased exemptions
  • Drafting new and reviewing old trusts
  • Income tax changes
  • Impact on IRA planning
  • Impact on planning for charitable gifts

December 7, 2018 in Conferences & CLE, Current Affairs, Estate Administration, Estate Planning - Generally, Estate Tax, Gift Tax, Income Tax, New Legislation, Trusts, Wills | Permalink | Comments (0)

Thursday, December 6, 2018

CLE on IRA Trusts: RMDs and Ensuring the Stretch

CLEThe National Business Institute is holding a teleconference entitled, IRA Trusts: RMDs and Ensuring the Stretch, on Thursday, December 20, 2018, at 11:00 a.m. to 12:30 p.m. Central. Provided below is description of the event:

Program Description
Ensure Clients Make the Most of Inherited IRAs
This focused course offers practical strategies for ensuring the inherited IRAs last as long as possible and comply with the RMD rules. Learn IRA trust drafting tactics and planning approaches to maximize the stretch, ensure asset protection, and minimize tax burdens. Register today!
Choose the most beneficial IRA trust structure and decide whether subtrusts are needed.
Get sample powers of appointment language that ensures the longevity of the trust.
Plan distributions to ensure RMD rules compliance.

Who Should Attend
This program is designed for attorneys. It will also benefit accountants, CPAs, and trust officers.

Course Content
How the Mechanics of the Retirement Account Shapes the IRA Strategy
Ensuring the Stretch: Beneficiary Designations, Individuals vs. Trusts, and More
Structuring the IRA Trusts and Subtrusts: Asset Protection and Tax Tactics
Drafting Powers of Appointment That Ensure the Longevity and Health of the Trust
Effective Approaches to Ongoing Compliance with the RMD Rules

December 6, 2018 in Conferences & CLE, Estate Administration, Estate Planning - Generally, Non-Probate Assets, Trusts | Permalink | Comments (0)

Friday, November 30, 2018

CLE on Technology and Estate Planning: the Rise of the Electronic Will

CLEThe American Law Institute is holding a webcast/telephone seminar entitled, Technology and Estate Planning: the Rise of the Electronic Will, on Tuesday, February 26, 2019 at 12:00 p.m. to 1:00 p.m. Eastern. Provided below is a description of the event.

Why You Should Attend
Did you know that:

A will handwritten and witnessed on a tablet was probated in Ohio
An unwitnessed will written on a smartphone was probated in Michigan
Three states now have statutes validating electronic wills, and one of those states allows the testator and the witnesses to be in different locations

Electronic wills are here, and they're headed your way! In recognition of the proliferation of technology in our lives, more and more states are now allowing for electronic wills. Further, a proposed uniform statute on electronic wills is nearing completion, and several start-up companies are clamoring to offer electronic wills on mobile phone applications.

If you want to stay ahead of the curve in your estate planning practice, join us for this 90 minute audio webcast to understand where we are now and where we are going with electronic wills!

What You Will Learn
Three fellows of the American College of Trust and Estate Counsel – including the chair of the Uniform Law Commission’s Drafting Committee on Electronic Wills – will discuss:

Which states now validate electronic wills, and which states have draft legislation under consideration?
What is the status of the Uniform Electronic Wills Act?
What will electronic wills do to your practice, and what can you do to get ready for them?
What are the concerns with authentication, security, and storage?
Will other end-of-life planning documents, such as advance medical directives or powers of attorney for health care or finance, follow suit?

Who Should Attend
Any estate planner will benefit from learning the latest developments with electronic wills and how they will impact your practice.

November 30, 2018 in Conferences & CLE, Current Affairs, Elder Law, Estate Administration, Estate Planning - Generally, Technology, Wills | Permalink | Comments (0)

Call for papers for Modern Studies in the Law of Trusts and Wealth Management 2019

Call for papersThe third conference in the “Modern Studies in the Law of Trusts and Wealth Management” series will take place on 1 & 2nd August 2019 at the Supreme Court, Singapore.  The 2019 conference will be co-organised by the Singapore Academy of Law, the Centre for Cross-Border Commercial Law in Asia Singapore Management University, and the University of York with the support of Trust Law International.

The theme of the conference is “Asian Wealth and the Global Context”. Like its predecessors, the conference will focus on current developments and challenges facing trust law and wealth management in the contemporary political climate, with particular emphasis on the issues raised by the growth of Asian wealth, and the global context in which that is happening.  The conveners of the conference (Richard Nolan (York), Tang Hang Wu (SMU) and Yip Man (SMU)) plan to produce a published volume from papers presented at this conference, and, possibly, a journal special issue. The confirmed speakers include Chan Ee Lin (Deloitte), Thomas Gallanis (Iowa), Jamie Glister (Cambridge), Lusina Ho (HKU), Adam Hofri-Winogradow (Hebrew), Arif Jamal (NUS), James Lee (KCL), Lou Jianbo (Peking), John Mee (Cork), Kelvin Low (CityU/SMU), Tamaruya Masayuki (Rikkyo), Jessica Palmer (Otago), David Pollard (Wilberforce Chambers, London), Tang Hang Wu (SMU), Graham Virgo QC (Cambridge), Yip Man (SMU) and Simone Wong (Kent).

There are some further slots for presenters and the conference organisers are pleased to consider offers for papers. The conference organisers are negotiating with a leading publishing house to produce a book comprising some of the papers presented at the conference. Trust Law International has also agreed to come on board as an official publication for some of the conference papers. Papers presented at the conference will be considered for the book (subject to adherence to the theme and space considerations) and the special issue of the journal (subject to the usual refereeing process and the editors’ discretion).

Presenters from the general call for papers will be expected to meet their own travel costs and to pay the conference registration fee of S$500 (excluding Goods and Services Tax of 7%). Unfortunately, the conference organisers do not have any funding to help meet cost of travel or the registration fee.  The organisers are particularly keen to hear from Asian, women and young scholars in the field. If you would like to offer a paper, please submit a working title and an abstract (of no more than 1500 words) by 28 February 2019 by email to all three of us: Richard Nolan (richard.nolan@york.ac.uk), Tang Hang Wu (hwtang@smu.edu.sg) and Yip Man (manyip@smu.edu.sg ).  Acceptance will be on a rolling basis and the organisers will be grateful for early submissions.

If you would like to attend the conference as a delegate, the conference registration fee is S$700 (excluding Goods and Services Tax of 7%). Please connect with Teh Y-Lyn (teh_y-lyn@sal.org.sg) from the Singapore Academy of Law to indicate your interest and she will gladly give you further information and assist you with registration and other details.

November 30, 2018 in Conferences & CLE, Scholarship, Trusts | Permalink | Comments (0)

Sunday, November 25, 2018

Call for Papers: Empirical Analysis of Wealth Transfer Law

ACTEC

The University of California, Davis School of Law (King Hall) and The American College of Trust and Estate Counsel’s Legal Education Committee are happy to announce that the 8th ACTEC academic symposium will be held on Friday, October 11, 2019. The theme is Empirical Analysis of Wealth Transfer Law. The event’s goals are to bring together established and emerging scholars and to foster discussion about empirical scholarship about wills, nonprobate transfers, intestacy, inheritance taxation, and related issues.

Articles presented at the symposium will consist of those selected from this Call for Papers and those from invited speakers. All papers will be published by the UC Davis Law Review.

If you would like to be considered to present a paper, please email an abstract of no more than two pages to Professor David Horton (dohorton@ucdavis.edu) by March 1, 2019. The Law Review will notify those selected by March 15, 2019. Please be aware that speakers must submit drafts that are ready for the editing stage of the production process by mid-November 2019.

Speakers will be reimbursed for their reasonable travel expenses (economy airfare, ground transportation, and up to two nights in a local hotel). Speakers will also be invited to dinner on Friday, October 11. Breakfast and lunch will be provided to speakers and attendees on October 11 courtesy of the ACTEC Foundation. Questions about the symposium or this Call for Papers should be directed to David at the email address above or Professor Adam Hirsch (ahirsch@sandiego.edu).

November 25, 2018 in Conferences & CLE, Scholarship | Permalink | Comments (0)

CLE on Planning Techniques for Large Estates: Your Secrets Are Safe with Me (I Think) - Protecting Privilege When Planning for Estates

CLEThe American Law Institute is holding a webcast entitled, Planning Techniques for Large Estates: Your Secrets Are Safe with Me (I Think) - Protecting Privilege When Planning for Estates, Thursday, December 20, 2018 at 12:00 p.m. - 1:00 p.m. Eastern. Provided below is a description of the event.

Why You Should Attend

Like communications between any client and attorney, communications between a client and an estate planning practitioner may be covered by the attorney-client privilege. The estate planning process entails the sharing confidential information, but clients often take the privilege for granted, without realizing that not all communications are privileged and that in certain situations, the privilege can be waived.  

What You Will Learn

Join us to learn the nuances of attorney-client privilege in estate planning practice, steps to protect your client’s confidential information, and best practices for keeping your professional reputation intact. Using fact illustrations, this webcast will explore:  

Attorney-Client Privilege: What Is It and How Does It Apply to Estate Planners? (Rule 1.6, Rule 1.1)

Work Product Doctrine: Where Does It Come Into Play?

Working With Third Parties: How Does It Impact the Privilege?

  This practical ethics session was originally presented on April 27, 2018, at the ALI CLE course, Planning Techniques for Large Estates. The discussion is relevant to practitioners handling estates of all sizes. Register now and get a front row seat at the rebroadcast!   Questions submitted during the program will be answered by email within two business days after the program. In addition, all registrants will receive a set of downloadable course materials to accompany the program.   Need this information now? Purchase the on-demand course here.  

Who Should Attend

Estate planners handling estates of all sizes will benefit from this ethics program from ALI CLE.  
Register two or more and SAVE! Register as a group for this program and save up to 50%. Click on "Group Rates" for more information. (Offer valid on new registrations in the same delivery format; discounts may not be combined.)

November 25, 2018 in Articles, Conferences & CLE, Estate Administration, Estate Planning - Generally, Estate Tax, Professional Responsibility | Permalink | Comments (0)

Tuesday, November 20, 2018

CLE on Ownership of Cooperative Apartments and Condominiums by Trusts: An Overview of Popular Trusts and Obtaining Transfer Approval from Cooperative Boards

CLEThe New York City Bar is holding a webcast entitled, Ownership of Cooperative Apartments and Condominiums by Trusts: An Overview of Popular Trusts and Obtaining Transfer Approval from Cooperative Boards, on Tuesday, November 27, 2018 at 6:00 p.m. to 8:00 p.m. Provided below is a description of the event:

This course presents an overview of estate planning under the 2017 Tax Reform Act and its temporary doubling of the Federal estate, gift and generation-skipping tax exemptions. It covers the more common types of trusts and trends in transfer requests for permission to transfer apartments to such trusts, including Grantor Trusts, Qualified Personal Residence Trusts, Spousal Lifetime Access Trusts and Dynasty Trusts. It describes the tax attributes of these trusts and why some trusts are more effective, as a result of recent tax changes and the current interest rate environment. It forecasts which trusts will likely be more popular under the 2017 Tax Reform Act.

The program will discuss the role of counsel to coop boards in reviewing these requests and how practitioners can structure their trusts to increase the likelihood of approval. It will also address cooperative and condominium requirements when owning an apartment in a trust. Specifically, the speakers will discuss what documents will be reviewed, whether attorneys’ opinion letters will be necessary and whether buildings require ancillary documents such as guaranty, occupancy agreement or escrow.

November 20, 2018 in Conferences & CLE, Current Events, Estate Planning - Generally, Trusts | Permalink | Comments (0)

Monday, November 19, 2018

CLE on Meeting the New Challenges of Cyber Insurance Coverage: Think You're Covered? Think Again

CLEThe American Law Institute is holding a webcast entitled, Meeting the New Challenges of Cyber Insurance Coverage: Think You're Covered? Think Again, on Thursday, December 13, 2018 from 1:00 p.m. - 2:30 p.m. Eastern. Provided below is a description of the event.

Why You Should Attend

The increasing severity of cyber threats to clients and firms alike has necessitated the evolution of cyber insurance policies to meet the variety of challenges to coverage posed by breaches and data loss. However, the lack of uniformity and inadequacy of terms in these policies has presented an added level of confusion and, more often than not, escalated the intensity of the litigation over coverage disputes. Given the required complexity of coverage, it is no longer good enough to have an insurance policy in place that was signed years ago. Today’s cyber risk environment demands that cyber policies be regularly reviewed and revised to avoid claims being denied due to coverage gaps, vague wording, and outdated provisions.  

What You Will Learn

Our panel of experts will address emerging cyber threats and highlight new areas of cyber insurance coverage that meet the latest challenges and give direction to help ensure that claims will be covered by the policy. Join us for this 90-minute video webcast to understand current risks associated with cybersecurity, including cyberterrorism, and how to craft cyber insurance policies to best mitigate the impact of data, reputational, and financial loss. Topics include:

How to identify gaps present in traditional insurance programs

How to update current policies to meet the new challenges of cyber risk

Negotiating terms and conditions for your cyber insurance programs

Types of cyber policies: Where coverage begins and ends

Do policies cover incidents of cyber terrorism?

Recent litigation and legislation involving security and breaches

Determining the potential claims sources that are giving rise to cyber-related losses

  All registrants will receive a set of downloadable course materials to accompany the program.  

Who Should Attend

Attorneys counseling policyholders across a variety of industries or insurance carriers, in-house counsel, and risk managers as they face increasingly complex data security concerns.

 

November 19, 2018 in Conferences & CLE, Current Affairs, Estate Planning - Generally | Permalink | Comments (0)

Tuesday, November 13, 2018

CLE on Irrevocable But not Irredeemable: How to Fix or Modify a Trust

CLEThe American Law Institute is holding a webcast entitled, Irrevocable But not Irredeemable: How to Fix or Modify a Trust, on Wednesday, December 5, 2018 at 12:00 p.m. to 1:00 p.m. Eastern. Provided below is a description of the event:

Why You Should Attend

Your client undoubtedly had excellent reasons for creating an irrevocable trust in the first place. He may have created an irrevocable trust to protect his own assets from the hands of creditors. He may have created an irrevocable trust to provide funding for his children without giving them direct access to those funds. He may have created an irrevocable trust for transfer tax planning purposes. But as time passes, the terms of that trust may no longer suit the needs of your client or the trust beneficiaries. Fortunately, their irrevocable trust can likely be modified and brought up-to-date to suit their current needs.   This practical one-hour audio program will give you the tools to determine when an irrevocable trust can and should be modified, and teach you about various methods to modify the trust.  

What You Will Learn

Topics to be covered include:

Determining when a trustee should modify an irrevocable trust;

Understanding the techniques to modify the trust; and

Drafting irrevocable trusts in light of a possible modification in the future

  This program was originally presented on July 25, 2018. Faculty questions will be answered by email within two business days.   Need this information now? Purchase the on-demand course here. Questions submitted on-demand will be answered within two business days.  

Who Should Attend

Estate planning attorneys who are drafting and advising on irrevocable trusts.

November 13, 2018 in Conferences & CLE, Estate Administration, Estate Planning - Generally, Trusts | Permalink | Comments (0)

Friday, November 9, 2018

CLE on Top Ten Estate Planning Techniques After the 2017 Tax Act

CLEThe New York City Bar is holding a conference and webcast entitled, Top Ten Estate Planning Techniques After the 2017 Tax Act, on Wednesday, November 14, 2018 at 6:00 p.m. - 9:00 p.m. at the New York City bar in New York City, New York. Provided below is a description of the event:

When attorneys meet with clients to discuss estate planning, there is an assortment of ideas that are considered, discussed, and presented to clients. This program covers the ten estate planning techniques that the speakers most frequently consider. The goal of the program is to discuss how each technique works, including some of the more pressing (or troublesome) technical considerations, who it works for, as well as the salient planning considerations. Some of the techniques covered include lifetime planning, GRATs, QPRTs, sales to IDITs, Family Limited Partnerships, CRUTS, CLATs, insurance trusts, and a few other common planning techniques.

Special thanks to Joel C. Dobris (Professor of Law, UC Davis School of Law) for bringing this article to my attention.

November 9, 2018 in Conferences & CLE, Estate Administration, Estate Planning - Generally, Income Tax, New Legislation, Trusts | Permalink | Comments (0)