Let's Work Together

June 21 - To Whom and When Does an Estate Planner Owe Duties?

The technical intricacies of estate planning are tough enough, but the challenge becomes still more intimidating when the identity of the person(s) to whom the planner owes legal and ethics-based duties is unclear and when the period during which such duties are owed is amorphous. Even the most honorable estate planning professional, if not sensitive to these issues, can find him or herself confronting a very difficult dilemma. In this teleconference, we will tackle the following serious issues:

• When Does the Lawyer-Client Relationship Begin and When Does It End?
• Relationship Between the Trustee’s Lawyer and the Beneficiaries
• When a Lawyer Can Owe Duties to a Non-Client
• Lawyer’s Obligations to a Client After Active Representation Has Ended

 July 26 - Post-Motem Planning and Strategies

Planning and maneuvering to reduce or eliminate taxes aren’t just for the living. Numerous opportunities exist to minimize taxes relating to the transmission of an individual’s property even after he or she has died. A fiduciary (or the fiduciary’s advisors) must have comprehensive knowledge of the applicable tax laws and must be vigilant not to miss any deadlines for taking action. Among the many possible steps to consider, which will be examined in this teleconference, include the following:

• Timing and Structuring of Pecuniary Gift Funding and Distributions
• Qualified Disclaimers and QTIP Elections
• Election to Treat Post-Death Revocable Trust as Part of the Estate and Fiscal Year Election
• Sixty-Five Day Rule Election

August 23 - Compounding Complications in Charitable Giving

Outside the context of outright gifts of cash to a public charity, charitable giving can be complicated. Familiar examples of charitable giving techniques that can present challenges include charitable gift annuities, split-interest charitable trusts, farm or residence remainder interest gifts, gifts of equity in a closely-held entity and IRA charitable rollovers. This teleconference will go beyond those familiar examples and explore additional areas that can be traps for the unwary, including:

• Emerging Issues Surrounding Donor Advised Funds
• Conservation Easements
• Internal Revenue Code Section 642(c) Deduction
• Mismatch Between Gross Estate Inclusion and Charitable Deduction

September 20 - Mechanics and Strategies for Resolving Trust Disputes

A poorly conceived or sloppily designed estate plan can actually cause more problems than it solves. Fortunately, under the laws of most jurisdictions, various judicial and non-judicial options exist with which to remedy estate planning problems after-the-fact. A well-rounded estate planner not only needs to know how to create a high-quality estate plan that addresses a client’s needs but also should be facile with available methods to repair broken estate plans. This teleconference will focus on the following:

• Using Virtual Representation
• Beneficiary Waivers, Consents and Releases
• Trust Modifications, Premature Terminations and Decanting
• Identifying and Avoiding Adverse Tax Consequences in Settling Trust Disputes

October 25 - Legitimate and Effective Asset Protection Planning

Asset protection planning is important to an increasingly broad range of clients – both for themselves and for their children. Creditors seem to be more aggressive these days, and more clients are becoming conscious of their potential to wake up one day in a vulnerable financial situation. Estate planners should offer their clients the opportunity to discuss, early in the estate planning process, the advantages of and available techniques by which to secure at least some measure of asset protection. This teleconference will focus on the following:

• Avoiding Fraudulent or Voidable Transfers
• Using Tenancy by the Entireties Form of Ownership
• Protected Status of Qualified Retirement Plans, IRAs and Life Insurance
• Trusts – Including Self-Settled Trusts, Certain Joint Trusts and Third Party-Settled Trusts

November 15 - Qualified Retirement Plan and IRAs - What You Can and Can't Do

Many of our clients have sizable accumulations in qualified retirement plans and IRAs. This is yet another unique type of asset that presents potential opportunities and difficulties in the estate planning context. The ultimate beneficial objective is to maintain as much of the plan or IRA intact for as long as possible – in order to maximize income tax-deferred investment return – while preserving as much dispositive flexibility as possible. This quest is often elusive. We will address in this teleconference the following critical components of this estate planning
subspecialty:

• Using See-Through Trusts and Conduit Trusts Within SECURE Act Parameters
• Taking Maximum Advantage of Special Rules Available Only to a Spouse
• Avoiding Penalties Applicable to Qualified Plans and IRAs
• Overview of Prohibited Transactions