Friday, October 26
Session 1: WASHINGTON INSIDERS: HOW THE SAUSAGE IS MADE
Current and former staff members from the Senate Finance Committee, the Internal Revenue Service, and the Treasury Department will discuss the ins and outs of tax legislation and the regulatory process. Who is who? Where do proposals come from? What are the current priorities? How can we, as ACTEC Fellows, contribute to the process? Get the answers to these questions, and any others you may have, from this Washington insider panel.
Beth Shapiro Kaufman, Washington, DC
Christopher Arneson, U.S. Senate Committee on Finance, Washington, DC
Austin W. Bramwell, New York, NY
Karlene Lesho, IRS National Office, Washington, DC
Session 2: PRACTICE MADE PERFECT: LESSONS FROM THE TAX COURT BENCH
Join us to hear wisdom from the Bench from two United States Tax Court judges — the Hon. Albert G. Lauber and the Hon. Cary Douglas Pugh. We will explore the intricacies of Tax Court procedure, including how it is possible for a trial judge not to write the majority opinion, as well as the distinctions among a “reviewed” opinion, a Tax Court (T.C.) opinion, and a memorandum (T.C.M.) opinion. We will also discuss various ethical scenarios that are common in representing taxpayers before the Tax Court. Finally, we will hear from the judges on suggestions for planners that impact pre-trial, trial, and post-trial consideration of cases. This is a can’t miss discussion!
Stephanie Loomis-Price, Houston, TX
The Honorable Albert G. Lauber, United States Tax Court, Washington, DC
The Honorable Cary Douglas Pugh, United States Tax Court, Washington, DC
Session 3: WILLS AND WISHES OF THE FIRST COUPLES
“I do solemnly swear that I will faithfully execute the office of president of the United States, and will to the best of my ability, preserve, protect and defend the Constitution of the United States.” So begins the term of each President of the United States. How have now deceased Presidents and First Ladies declared their intentions as to the final disposition of their estates? From Barbara Bush to Martha Washington…Ronald Reagan to George Washington…Widows and widowers; step parents and step children. Some of the best-laid plans have gone awry, and some created enduring family legacies. A survey and case studies of lessons learned from our First Couples.
Laird A. Lile, Naples, FL
Suzanne L. Shier, Chicago, IL
Saturday, October 27
Session 4: TAX REFORM COULD MAKE DIVORCE A WHOLE LOT MORE TAXING
Recent legislation makes divorce a more expensive proposition. For post-2018 divorce or separation instruments, the deduction for alimony has been eliminated. While the alimony deduction continues for existing “divorce and separation instruments,” the IRS definition of this term does not include prenups – i.e., the tax consequences of existing prenups could be substantially different from what the spouses initially agreed or intended post-2018. Similarly, elimination of the Section 682 relief from grantor trust treatment for income payable to a former spouse could produce tax consequences significantly different than intended. The panelists will discuss the impact of the new rules on divorce settlements and any remedies available to restore originally intended economic consequences.
Panelists will review recent ACTEC comments on the grantor trust rules after a divorce and IRS Notice 2018-37 on the IRS’s intent to issue Regs under Section 682 concerning trust income payable to a former spouse under pre-2019 instruments.
Carlyn S. McCaffrey, New York, NY
Justin T. Miller, San Francisco, CA
Michael F. Teitler, New York, NY
Session 5: IRC SECTION 199A: DOWN THE RABBIT HOLE
Section 199A presents a meaningful opportunity for pass through businesses to reduce their income tax burden if they qualify under the statute, which is often trickier than it appears at first blush. This panel presentation will discuss the structure of Section 199A, its pitfalls and potential strategies, as well as the proposed regulations and any other published guidance then available.
Joshua E. Husbands, Portland, OR
Richard H. Greenberg, Woodbridge, NJ
Gene Wolf, El Paso, TX
Session 6: RESTORING CIVILITY AND PROFESSIONALISM IN ATTORNEY COMMUNICATIONS IN THE DIGITAL AGE (LEGAL ETHICS)
With the prevalence of email, social media, texting, and other online communications, the classic skill of communicating is becoming a lost art. Many estate planning attorneys have personal relationships with their clients, which blurs the lines on what is a professional vs. a personal communication, especially when communicating digitally. This program will discuss attorney decorum using social media, email, texting, and other digital methods to communicate with clients, other attorneys, colleagues, and the public. Has the use of modern technology in attorney communications gone too far astray from the spirit of the model rules? Can an attorney’s or employee’s personal social media presence be wholly ignored, including if activist or controversial postings could reflect negatively on the employer? Learn practical recommendations for retaining privilege and professionalism with digital communications as well as reasonable guidelines on the use of social media.
Katarinna McBride, Chicago, IL
Louis S. Harrison, Chicago, IL
Karin C. Prangley, Chicago, IL
Recorded at the
2018 ACTEC Fall Meeting
October 26-27, 2018