This set includes 11 programs on 22 CD. All material in this set were recorded at the 2015 Annual Meeting held March 3-8, 2015 in Marco Island, FL
Symposium II was not recorded.
Seminar A: Avoiding the IRS on your Valuation Journey: The Art of Crafting Defensible Appraisals
This session will provide guidance to estate planning attorneys in reading and commenting on valuation reports, with a focus on assisting readers in refining appraisals to ensure that gift, estate, and generation-skipping transfer tax returns are prepared in a manner that is most defensible in audit and in court, if need be.
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Seminar B: Tax Considerations in Fiduciary Litigation
There seems to be surprising little dialog between litigators and estate planners when it comes to fiduciary litigation. Language included (or not included) in pleadings, judgments and settlement agreements can have a huge impact on the tax treatment to your client when litigation is settled or judgments are entered. Learn the rules about the tax issues that are presented when fiduciary litigation is resolved (whether through settlement or at trial), including litigation involving claims, reformation, and construction. Litigators will learn to understand key issues that can mean the difference between a tax-free inheritance and a taxable event. Estate planners will learn how to add value to litigation matters by looking out for landmines, and actively planning during the course of the litigation to obtain the most favorable tax results. We’ll highlight the value of input on the tax side that may dramatically change the net results for your client.
Seminar C: Cleaning Up the Mess: Determining and Implementing Testator/Grantor Intent
Evolving legal and equitable remedies under state law, including contracts to make a will, oral trusts, constructive trusts, intentional interference with contract, and disclaimers, may allow material modifications of estate plans in wills, revocable trusts, and beneficiary designations to reflect the actual intent of the testator or the grantor. The tax and other legal effects of such remedies as well as the impact of a no-contest clause will also be addressed.
Seminar D: Civility for Common Lawyers: Is It Possible and If So, How?
A panel of Fellows with extensive international experience will examine the interface of civil and common law concepts relevant in estate planning and administration. How do civil law systems deal with trusts, and are there functionally equivalent mechanisms for assets sitused in civil law jurisdictions? What are the prevalent forced heirship rules in civil law systems, and can forced heirship rights be enforced with respect to assets sitused in common law jurisdictions? What are the key differences and similarities in civil and common law systems for the transmission of wealth?
Seminar E: Running the Basis
The income tax savings from the “step-up” in basis is now critical to estate planning. This presentation will discuss tax basis management techniques that seek to maximize the “step-up” in basis, using leverage to multiply the amount of “step-up” for a certain amount of estate tax inclusion, shifting basis from one asset to another, partnership provisions and elections to consider (or avoid) to maximize a basis adjustment, and using charity to create income tax basis. This session will be coordinated with Seminar F “Giving the Business...To Charity”.
Seminar F: Giving the Business...to Charity
Coordinating with Seminar E, “Running the Basis”, we will begin by discussing the best ways to integrate charitable planning into the already complex world of business succession. When basis shifting has left you with low basis business assets, how can charity help? Further discussion will include how to put the family business and family foundation in one family plan and when and how to make charity your profitable partner. The presentation will range rather widely over all kinds of business and near-business interests that the speakers have enjoyed watching become charitable gifts. We will also discuss particular problems and planning opportunities involving gifts of business interests to public charities, supporting organizations, private foundations, and charitable remainder and lead trusts.
Seminar G: Entering and Exiting Estate Planning Strategies in the Current Tax Law Environment
Following the introduction of the American Taxpayer Relief Act of 2012, many commentators have referred to current estate, gift and income tax rates as presenting a new paradigm for estate planning. This seminar will consider whether a host of familiar estate planning entities — nonmarital trusts, irrevocable life insurance trusts and other entities — should be maintained, tweaked or terminated. Practical advice and examples will also be offered for clients who contemplate establishing or continuing tax planning techniques designed to be successful in today’s tax law environment.
Seminar H: Controlling from the Grave: Is Flexibility a Good Thing?
Has a client ever asked you to build a restriction into a trust document that you are not sure will be upheld by the court? Have you wondered how techniques such as merger, decanting, judicial modifications and non-judicial settlement agreements, along with virtual representation, could impact the ability of your clients to impose restrictions they feel are important? What issues are posed when drafting documents at a client’s request that are too restrictive? This session will begin with a brief overview of the parameters for restricted gifts, drafting for flexibility and the uses of modification techniques and virtual representation. We will then proceed to have a lively debate on the pros and cons of flexibility in trusts, with a specific discussion around drafting techniques and the impact such provisions of the law have on conditions placed in trust instruments.
Symposium I: The Often Ignored If Not Forgotten Nest Egg; Practical Strategies for Estate Planning for Retirement Plans and IRAs
Attend this session for planning and drafting rules and tips on how to leave benefits to your spouse, non-spouse individuals, trusts, and/or charity, including how to deal with plan administrators. ACTEC’s own experts will provide specific strategies for specific client fact patterns, and alert you to recent cases, statutes, regulatory developments, and prospective statutory changes that may impact these strategies. Remember, these tips and strategies will be useful for your clients AND your own retirement benefits!
Hot Topics
The panel will analyze and discuss important developments in case law, IRS regulations, and other guidance, and how those developments impact your practice.
Topics for discussion will include regulations and rulings issued in the last year, as well as recent decisions on estate and gift tax issues, valuation, and planning techniques.
Trachtman Lecture
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