Wills, Trusts & Estates Prof Blog

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

Tuesday, February 11, 2020

CLE on Advanced Estate Planning Practice Update: Winter 2020

CLEThe American Law Institute is holding a webcast entitled, Advanced Estate Planning Practice Update: Winter 2020, on Wednesday, February 26, 2020 at 12:00 PM to 2:00 PM Eastern. Provided below is a description of the event.

Why You Should Attend

Join us in February to see why attorneys across the country tune in for this must-attend program three times a year!

Now it its 25th year, this popular, advanced program covers significant recent developments and how they affect estate planning practice. Featuring a nationally renowned faculty of estate planning lawyers, as well as Professor Jeffrey N. Pennell, this webcast is designed for sophisticated practitioners who need to stay up-to-date on changes in the field!

What You Will Learn

This unique program captures late-breaking important opinions and legislative and regulatory developments, as determined by the faculty at the time of the presentation. Topics to be addressed include:

    • Over 30 recent state and appellate court decisions addressing a wide range of topics, including: charitable gifts, asset transfers, gift tax liens, discretionary vs. support trusts, undue influence, trust amendments, conservation easements, and much more
    • PLRs 201941008-23, 201943020, 201947001, and 201947007
    • The SECURE Act
    • §2010(c) Final Regulations
    • Prop. §170(c) SALT credits

In addition to superb teaching, a favorite feature of past registrants is the comprehensive outline that all registrants get ahead of the program. It provides summaries written by the faculty on every topic discussed during the program, in the order in which it is addressed!

Who Should Attend

Experienced estate planning attorneys, trust administrators, and financial and tax professionals who provide guidance and strategies for transferring wealth and reducing estate taxes should attend this valuable webcast.

February 11, 2020 in Conferences & CLE, Current Events, Estate Administration, Estate Planning - Generally, Gift Tax, Income Tax, New Cases, New Legislation, Trusts | Permalink | Comments (0)

Thursday, February 6, 2020

CLE on Estate Planning: New Laws That Make Old Tools Obsolete

CLEThe National Business Institute is holding a webcast entitled, Estate Planning: New Laws That Make Old Tools Obsolete, on Thursday, March 12, 2020 at 10:00 AM to 5:00 PM Central. Provided below is a description of the event.

Program Description

Stay on the Cutting Edge of Your Practice

This timely update will review the latest changes in the rules and will offer new tools to adapt to the new regulatory environment. Make certain your clients get the most up-to-date representation - register today!

    • Get an incisive summary and analysis of the tax changes and their implications for existing planning tools.
    • Learn which deductions remain and how to obtain them.
    • Identify planning approaches that no longer help your clients.
    • Gain practical pointers for fixing old trusts.

Who Should Attend

This legal update is designed for attorneys. It will also benefit accountants and CPAs, trust and tax professionals, and paralegals.

Course Content

    • The Impact of the Tax Cuts and Jobs Act on Estate Planning - Revisited
    • Old Small-to-Medium Sized Estate Tools and How to Update Them
    • Large Estate Techniques That No Longer Work and What to Replace Them With Reassessing Gifting Strategies
    • The End of the IRA Stretch? Planning for IRAs in Light of Recent and Proposed Legislation
    • Building in the Potential Need for Nursing Home Care and Medicaid Planning
    • Charitable Giving and Donor-Advised Funds: Traditional Concepts, New Rules, and Trends
    • Using the I.R.C. 199A (QBI) Deduction
    • Reviewing Estate Planning Documents and Fixing Old Trusts
    • Legal Ethics in Estate Planning

February 6, 2020 in Conferences & CLE, Current Events, Estate Planning - Generally, New Legislation | Permalink | Comments (0)

Thursday, January 23, 2020

CLE on Anticipating Will Contests and How to Avoid Them

CLEThe American Law Institute is holding a webcast entitled, Anticipating Will Contests and How to Avoid Them, on Tuesday, March 3, 2020 at 1:00 – 2:00 pm Eastern. Provided below is a description of the event.

Why You Should Attend

Estate planners must always be on guard when drafting documents which may supply incentive for someone to contest a will. Anytime an individual would take more through intestacy or under a prior will, the potential for a will contest exists, especially if the estate is large.

What You Will Learn

Estate planners need to be able to recognize situations which are likely to inspire a will contest and take steps during the drafting stage to reduce the probability of a will contest action and the chances of its success. Join us for this 60-minute webcast that will examine:

    • Reasons to anticipate a will contest
    • Techniques to avoid contests
    • What provisions and language work best
    • Purposes and preparation of a will execution ceremony
    • Ante-mortem probate: Advantages and disadvantages

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

Who Should Attend

This accredited continuing legal education program will benefit all estate planning attorneys and professionals.

January 23, 2020 in Conferences & CLE, Current Affairs, Estate Administration, Estate Planning - Generally, Wills | Permalink | Comments (0)

Thursday, January 16, 2020

Taxation and Gender Equality Conference: Research Roundtable and Policy Program

CLETaxation and Gender Equality Conference: Research Roundtable and Policy Program, September 14-15, 2020.

Deadline for Expressions of Interest: March 15, 2020

As the Organizers and members of the Academic Advisory Committee we are pleased to issue this Announcement and Call for Contributions to an event that will be held on September 14 and 15, 2020, in Washington, DC, to explore the interaction between tax law and gender equality. The goal of the Conference, which is sponsored by the Tax Policy Center, the American Tax Policy Institute, the American Bar Foundation, and, subject to the final approval of their boards, the Tax Section of the American Bar Association and the American College of Tax Counsel, is to shine a spotlight on gender issues in taxation and to bring consideration of gender impacts into mainstream discussions surrounding the enactment and administration of tax laws. The intended scope of the Conference is broad, focusing not only on gender issues in U.S. tax law but also on gender issues in the tax laws of other countries; it will consider all taxes, whether income, consumption, transfer, wealth, or other national-level taxes, as well as subnational taxes.

The Conference will begin on Monday, September 14, 2020 at the Washington, DC, offices of Pillsbury Winthrop Shaw Pittman with a research roundtable featuring principally academic papers. The research roundtable will follow the format typical of academic conferences, providing ample time for conversation among participants.

The second day of the Conference, Tuesday, September 15, 2020, will be held at the Urban-Brookings Tax Policy Center, also in Washington, DC. It will consist of a policy-oriented program of panel discussions bringing together academics, practicing attorneys, economists, policy makers, legislators and others to consider issues related to gender and taxation and to consider strategies for incorporation of gender-related concerns into everyday tax policy discourse. At least one panel will feature the recent work undertaken by the National Women’s Law Center exploring the relationship between taxation and gender (see https://nwlc-ciw49tixgw5lbab.stackpathdns.com/wp-content/uploads/2019/11/NWLC-Tax-Executive-Summary-Accessible.pdf).

We are now seeking participants interested in contributing either to the research roundtable or to the policy program (or to both). Participants can be legal academics, economists, legal practitioners, government officials, policy researchers, or others with an interest and expertise in tax law and its administration. Contributors from the United States as well as other countries are welcome.

Scholars, analysts and policymakers of all levels of seniority and from all disciplines are invited to submit proposals for consideration for inclusion in panel discussions. We expect that for each day of the program, there will be approximately 5-10 speaking slots available. Contributions to be presented at the research roundtable should be works in progress, not published (or committed to publication) prior to the conference. Contributions to be presented as part of the policy program may be works in progress or may be work published (or committed to publication) prior to the conference. A brief description of possible panel topics to be addressed in the policy program is provided below; please understand that this listing is intended to provide directional guidance on possible panel and research paper topics and should not be viewed as limiting the potential issues to be addressed.

Those interested in presenting at either the research roundtable or the policy program portion of the Conference should send an abstract of no more than 500 words describing their proposed presentation, an indication of whether the proposal is for the research roundtable or the policy program, and a copy of their CV to Alice Abreu at taxandgender@temple.edu. If the proposed panel presentation is based on a published or soon-to-be-published work, please also attach a copy or draft of the work. Expressions of interest are due by March 15, 2020. The Academic Advisory Committee expects to notify accepted participants by May 1, 2020. Accepted participants should submit circulation drafts of the work to be presented no later than August 14, 2020. Selected participants may be invited to publish their completed papers in The Tax Lawyer or may choose to publish elsewhere. (The Tax Lawyer is the flagship scholarly journal published by the Tax Section of the American Bar Association and is published in cooperation with the Graduate Tax Program of the Northwestern University Pritzker School of Law; it has a robust circulation both in print and through electronic access).

Limited funding may be available for reasonable travel expenses of those selected to present their work; in your expression of interest please indicate whether you will need financial assistance to participate in this event. There is no fee for attending the conference. The conference will be webcast and is open to members of the public.

We look forward to hearing from many interested potential contributors.

Organizers: Julie Divola (Pillsbury Winthrop Shaw Pittman and American Tax Policy Institute), Elaine Maag (Tax Policy Center), and Alice Abreu (Temple Center for Tax Law and Public Policy and American Tax Policy Institute)

Academic Advisory Committee: Alice Abreu (Temple), Bridget Crawford, (Pace) Anthony Infanti (Pittsburgh), Ariel Jurow Kleiman (San Diego), and Stephen Shay (Harvard)

POSSIBLE DISCUSSION TOPICS

The following is a representative list of panel topics for the policy program. Final panel topics will be determined based upon the abstracts received in response to this Call for Contributions.

    • In general: A review of the positive and negative (intentional and unintentional) impacts of tax laws on gender equality, including a broad discussion of the form such tax laws can take (e.g., the marriage penalty, deductions or exemptions for entrepreneurial efforts, consumption vs. income taxes, wage withholding taxes, pink taxes, corporate tax expenditures).
    • Impacts of U.S. tax laws on gender equality. Possible topics for separate panels include:
      • Specific issues under the TCJA.
      • A comparisons of gender equality issues as reflected in the tax reform proposals advanced by the current presidential candidates.
    • One or more topics covered in three interrelated reports prepared by the National Women’s Law Center (NWLC) that examine the federal tax code with a focus on gender and racial equity and explore policies to make the tax code work for everyone. (See (i) The Faulty Foundations of the Tax Code: Gender and Racial Bias in Our Tax Laws, (ii) Reckoning with the Hidden Rules of Gender in the Tax Code: How Low Taxes on Corporations and the Wealthy Impact Women’s Economic Opportunity and Security and (iii) The Faulty Foundations of the Tax Code: Gender and Racial Bias in Our Tax Laws at https://nwlc.org/resources/gender-and-the-tax-code/.) The papers were prepared by NWLC in collaboration with Groundwork Collaborative, the Roosevelt Institute, and the Georgetown Center on Poverty and Inequality.
    • Impact of U.S. tax administration (including collection and other enforcement efforts) on gender equality (e.g., innocent spouse relief).
    • Discussion of the economic impact of tax laws that influence gender equality (e.g., distributional effect on how income is distributed between the sexes and allocative effect on how paid and unpaid labor is allocated between the sexes). General discussion of the connection between gender equality and economic growth.
    • Examination of tax systems in countries that have historically been more thoughtful than the United States on the question of taxation and gender equality, including measures such countries have taken to advance the issue. For example, the German Technical Cooperative has a program to support OECD partner countries in their efforts to reform tax policy and tax administration to avoid or eliminate gender bias.
    • Examination of the impact of tax laws on gender equality in developing countries. For example, the International Centre for Tax and Development with support from the Bill and Melinda Gates Foundation has done research in this area.
    • Use of gender-neutral language in the tax law and government publications and encouraging equivalent use of names that suggest male, female, and indeterminate genders and the accompanying pronouns.

January 16, 2020 in Conferences & CLE, Current Affairs, Estate Planning - Generally, Income Tax | Permalink | Comments (0)

Wednesday, January 15, 2020

CLE on The SECURE Act: Who Are You and What Have You Done With My Minimum Distribution Rules?

CLEThe American Law Institute is holding a webcast entitled, The SECURE Act: Who Are You and What Have You Done With My Minimum Distribution Rules?, on Thursday, February 13, 2020 from 12:00 pm to 1:30 pm Easter. Provided below is a description of the event.

Why You Should Attend

The minimum distribution rules that apply to many IRAs and retirement plans have been around over 30 years. They have been challenging to interpret and apply, but the tax and estate planning community has gradually learned to work with them. During this period total U.S. IRA and retirement plan assets grew to nearly $25 trillion, accounting for 36% of household financial assets. Most of these funds are income tax deferred, representing significant potential tax revenue.

The SECURE Act that was signed into law on December 20, 2019 is the most significant retirement plan legislation in many years. The SECURE Act made many changes to retirement plan rules that have been touted as providing benefits to individuals and small businesses. How did Congress decide to pay for these changes? By curtailing the post-death deferral period under the minimum distribution rules, thus tapping into that $25 trillion nest egg more quickly.

If you’re a tax or estate planning practitioner, you need to get up to speed on these new rules right away. Register today for this 90 minute webcast and learn when to apply the new rules and when the old rules still apply.

What You Will Learn

A faculty of highly experienced estate planning practitioners and ACTEC Fellows will address:

    • Why age 72 is the "new" 70-½
    • The new post-death rules for "designated beneficiaries"
    • Special rules that apply to certain "eligible designated beneficiaries"
    • New trust rules grafted on top of existing see-through trust rules
    • Planning for the spouse as beneficiary
    • Planning for children as beneficiaries
    • Planning for chronically ill and disabled beneficiaries, including special needs trusts
    • Building flexibility into trusts to make use of the post-mortem planning window
    • Effective date rules
    • What practitioners should consider in reviewing and updating existing plans

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

Who Should Attend

Estate planners, tax advisors, and other related professionals will benefit from this webcast jointly offered by ALI CLE and ACTEC.

January 15, 2020 in Conferences & CLE, Current Affairs, Estate Administration, Estate Planning - Generally, New Legislation | Permalink | Comments (0)

Friday, January 10, 2020

CLE on 2020 Tax Updates for Trusts and Estates

CLEThe National Business Institute is holding a video webcast entitled, 2020 Tax Updates for Trusts and Estates, on Thursday, January 30, 2020 from 9:00 AM - 4:00 PM central. Provided below is a description of the event.

Get the Latest Information and Tools to Save Clients on Taxes

This incisive course will get you up to speed on the year's developments in estate planning and asset protection tax laws so you can make tactical decisions and provide cutting -edge representation. Let our esteemed faculty guide you through ongoing legislative developments, key laws and rulings so you can enhance your tax planning strategy and ensure compliant returns - register today!

    • Clarify recent changes in tax law and regulation and prepare for their potential effects.
    • Analyze the most important case law of the year to glean future threats and opportunities for your clients.
    • Hear about new tax tools to add to your arsenal.
    • Get an advance look at future developments coming down the pike.

Who Should Attend

This essential tax update is for attorneys. Accountants, tax professionals, wealth managers, trust administrators/officers and paralegals will also benefit.

Course Content

    • Current Relevant Federal Tax Laws, Rates, Exemptions
    • Trust Tax Deductions under TCJA: Core Changes and Clear Guidance
    • IRS Tax Forms and Procedures Updates
    • Unpacking the Section 199A Changes and Opportunities
    • SECURE Act and Its Effect on IRA Planning
    • Current IRS Guidance and Enforcement Initiatives
    • Cross-Border Tax Issues Every Estate Planner Needs to Know
    • Reassessing and Repairing/Replacing Old Tax Planning Techniques
    • Legal Ethics and Tax Planning
    • Looking Ahead

January 10, 2020 in Conferences & CLE, Current Events, Estate Administration, Estate Planning - Generally, Estate Tax, Income Tax, New Legislation, Trusts, Wills | Permalink | Comments (0)

Friday, December 27, 2019

Effective Use of IRA Assets in Tax and Estate Planning After the Secure Act (Includes IRS Compliance)

Seymour Goldberg, CPA, MBA, JD, a senior partner in the law firm of Goldberg & Goldberg, P.C., Long Island, New York, will be presenting a program with the following description:

Many taxpayers have accumulated a considerable amount of assets in their retirement accounts. These assets may be in their 401(k), another type of qualified plan, a 403(b) arrangement, a 457 governmental plan, a traditional IRA and a Roth IRA. Estate and income tax planning are more important than ever, especially under the Secure Act, when advising a client that has substantial retirement type assets. This program covers many of the rules that you need to know when implementing an estate plan for the client that has substantial retirement assets. IRS Compliance is now a major issue in retirement distribution planning for IRA owners and IRA beneficiaries.

For more information about the program and how to register, follow this link: Download Effective Use of IRA Assets in Tax and Estate Planning - January brochure.

 

December 27, 2019 in Conferences & CLE, Non-Probate Assets | Permalink | Comments (0)

Thursday, December 26, 2019

CLE on Effective Use of IRA Assets in Tax and Estate Planning After the Secure Act (Includes IRS Compliance Issues)

CLESeymour Goldberg is presenting a seminar entitled, Effective Use of IRA Assets in Tax and Estate Planning After the Secure Act (Includes IRS Compliance Issues), on Wednesday, January 29, 2020 at Melville Corporate Center III, Master Conference Room, at 324 South Service Road, Melville, NY. Provided below is a description of the event.

Many taxpayers have accumulated a considerable amount of assets in their retirement accounts. These assets may be in their 401(k), another type of qualified plan, a 403(b) arrangement, a 457 governmental plan, a traditional IRA and a Roth IRA.

Estate and income tax planning are more important than ever, especially under the Secure Act, when advising a client that has substantial retirement type assets. This program covers many of the rules that you need to know when implementing an estate plan for the client that has substantial retirement assets. IRS Compliance is now a major issue in retirement distribution planning for IRA owners and IRA beneficiaries.

Some topics included in this program:

    • Brand new world of retirement distribution planning
    • Effective date of changes in the rules
    • Transition rules and partial retroactive rule provisions
    • Retroactive effect on IRA trusts throughout the United States that have not been amended or redone
    • No grandfather rule for IRA trusts for IRA owners who pass away on or after January 1, 2020
    • Effective use of Roth IRA trusts going forward to save the day
    • New required beginning date o Special rules for special categories of beneficiaries
    • Use of 10 year trusts for designated beneficiaries
    • Use of a life expectancy trust plus 10 year bonus payout period for eligible designated beneficiaries
    • The 10 year rule versus the life expectancy rule plus the 10 year bonus rule (without trusts)
    • Repeal of maximum age rule for making traditional IRA contributions
    • The federal age of majority rule for children
    • Potential massive IRS penalties for not tracking the new rules
    • Need for new practitioner specialty (IRA Compliance Specialist)
    • Default beneficiary issues

For more information on how to attend the event, see here.

December 26, 2019 in Conferences & CLE, Current Events, Disability Planning - Property Management, Estate Administration, Estate Planning - Generally, New Legislation | Permalink | Comments (0)

Wednesday, December 11, 2019

CLE on New LLC Rules You Need to Know

CLEThe National Business Institute is presenting a video webcast entitled, New LLC Rules You Need to Know, on Friday, December 27, 2019 from 9:00 a.m. to 4:00 p.m. Central. Provided below is a description of the event.

Program Description

Get Up to Date on LLC Changes and Avoid Costly Missteps

Are your clients ready? Are you ready? Existing operating agreements will need to be updated and new operating agreements will need to comply. The new rules and regs affect numerous major provisions in the LLC operating agreement such as fiduciary duties, new default provisions, distributions and indemnification. Join us as our expert faculty brings you up to speed on the latest developments and teaches best practices for drafting and reviewing operating agreements. Register today!

    • Review substantial changes to LLC definitions and requirements.
    • Study the timeline of changes, limitations and entities affected.
    • Explore managers' and members' rights and authority.
    • Determine which fiduciary duties should be modified to fit the needs of clients.
    • Understand the new rights of judgment creditors and how they can foreclose on an interest.

Who Should Attend

This informative course is designed for attorneys. Accountants may also benefit.

Course Content

    • H.R. 1, the Tax Cuts and Jobs Act and Other Recent Case Law on LLCs
    • Timeline of Changes, Limitations and Entities Affected
    • What Entity Should You Choose to Receive These New Tax Breaks?
    • Qualifying for the New Deduction; New Ways to Calculate Deductions - Case Example
    • Pass-Through Entity Provisions vs. Lower C Corporation Rates
    • The New Partnership Audit Rules and New Tax Law as it Relates to Partnerships
    • Managers and Members and Fiduciaries: Changes to Rights, Roles and Authority
    • Substantial Changes to Definitions and Requirements
    • Operating Agreements: How the Scope, Function and Limitations Have Changed
    • LLC Formation and Operating Procedures/Requirements: Changes Attorneys Need to Know
    • Ethical Considerations

December 11, 2019 in Conferences & CLE, Current Events, Estate Administration, Estate Planning - Generally | Permalink | Comments (0)

Monday, December 9, 2019

Webcast: State Income Taxation of Nongrantor Trusts: Taking Your Trust on the Road

ALI-CLEOn January 9, 2020, the American Law Institute and the American College of Trust and Estate Counsel are co-sponsoring a webcast/telephone seminar entitled State Income Taxation of Nongrantor Trusts: Taking Your Trust on the Road.

Here is a description of the program:

Planning for state income taxation on trusts is a critical aspect of the estate planning process. If done well, it can produce substantial benefits; if done poorly, it can produce substantial cost. Register today for this 90 minute webcast to better understand how states tax trust income and how you can establish the situs of a trust in order to minimize those taxes. Learn ways to reduce or eliminate the state tax on any new trusts you draft as well as any existing trusts you’ve worked on – your clients will thank you!

The stellar faculty includes Richard H. Greenberg, Richard W. Nenno, and Margaret E.W. Sager.

Follow this link for more information and to register.

December 9, 2019 in Conferences & CLE | Permalink | Comments (0)