The 2012 Planning for the Generations Symposium is THE place to be July 18-20, in Denver, CO. The Symposium provides quality education designed for estate planning, business planning, and elder law professionals. We are pleased to announce three plenary sessions presented by seasoned faculty and designed to discuss relevant concerns in your practice.
An Experienced Practitioner’s Guide to Asset Protection Planning
Christopher M. Riser, M.A., J.D., L.L.M.
Join asset protection attorney Chris Riser as he discusses the strategies being implemented in his firm. Serving as both a collection and planning attorney, Chris brings a unique, practical perspective to asset protection planning. Topics include: Beneficiary Defective Trusts to protect future assets and growth of current assets; LLC Reorganizations to segregate business risks and assets.
The Art and Science of Drafting LLC Operating Agreements: Best Practices, Leveraging LLC Flexibility, & Avoiding Pitfalls
John M.Cunningham, Esq.
This three-hour seminar will explain what we mean by “best practices” in drafting operating agreements; it will provide an overview of the drafting process; and it will address in detail several of the most important best practices. The instructor is John M. Cunningham, a highly experienced LLC practitioner and the author of Drafting Delaware LLC Agreements, the leading U.S. LLC formbook and practice manual, published by Wolters Kluwer. The seminar will be useful for lawyers in drafting operating agreements not only for family LLCs but for all other LLC types.
Estate and Gift Tax Basics – Chapters 11 and 12 of the Internal Revenue Code
Lewis W. Dymond, Jr., Esq.
This session is designed to provide a foundational understanding of the federal estate and gift tax system by exploring Chapters 11 and 12 of the Internal Revenue Code. While we can’t guarantee you will become a “code head” you should walk away with a better understanding of how actual sections of the Internal Revenue Code relate to your estate planning practice. Beginning with an overview of the structure of Subtitle B – Estate and Gift Taxes, we will progress to an examination of the various code sections in a logical order. The discussion of the estate tax will include calculation of the gross estate, the various deductions that result in the taxable estate, the computation of the estate tax and the credits against the tax. Our discussion of the gift tax will include what constitutes a transfer for purposes of the gift tax including the exercise, release and lapse of powers of appointment, gift splitting, marital and charitable deductions as well as annual, medical and educational exclusions. We will conclude with the calculation of the gift tax and application of the unified credit against the gift tax.
Generation-Skipping Transfer Tax Basics – Chapter 13 of the Internal Revenue Code
Lewis W. Dymond, Jr., Esq.
This session is designed to provide a foundational understanding of the tax on generation-skipping transfers by exploring Chapter 13 of the Internal Revenue Code. We will examine the code sections of Chapter 13 in a logical, comprehensible manner. The presentation will include the three types of generation-skipping transfers; allocation of the GST exemption, including a discussion of the estate tax inclusion period (ETIP); calculation of the inclusion ratio; and calculation of the tax imposed. We will also discuss generation assignment, the so-called “move down rule,” as well as answering the question of whether there is an annual GSTT exemption for gifts and if so, how does one structure a gift to qualify.
Family Investment Partnerships: Beyond the Valuation Discount
Paul S. Lee, J.D., LL.M.
FLPs holding liquid investments are used for more than the valuation discount (which may become a thing of the past). This presentation discusses:
- Alternative ways to structure the FLP from single class share to more exotic designs (series, qualified & non-qualified preferreds, guaranteed payments, etc.)
- The transfer tax (specifically, Section 2701), partnership and income issues that arise with each type of design
- The unresolved partnership accounting and income tax issues
- How different structures might be applied in different estate planning techniques
- The securities law issues that may arise, especially in light of the Dodd-Frank Wall Street Reform Act
Innovative Charitable Lead Trust Structures: Bringing Economic Efficiencies to a Wealth Transfer Workhorse
Paul S. Lee, J.D., LL.M.
An IRS ruling, combined with a low 7520 rate has injected new life into a rarely used estate planning vehicle: the CLAT; particularly if the CLAT is structured in a manner similar to what has been nicknamed the “Shark-Fin” CLAT. This presentation discusses:
- How a properly structured CLAT can transfer more wealth than a GRAT and a sale to an IDG
- Non-grantor and “intentionally defective” grantor CLATs
- How to structure transactions that avoid violation of the private foundation rules
- The investment implications of back-loaded annuity CLATs
- Specific applications pertaining to contributions of FLP interests, private equity investments, preferred investment FLP interests, highly appreciated single stock positions and life insurance
Post-Death Planning & the Power of Collaboration
Raymond P. Sheffield, Esq., LL.M. and Mark L. Prendergast, CPA, CFP®
This session will focus on issues regarding Collaboration between attorneys, CPAs, and financial professionals on the death of the first spouse. We will examine the following issues:
- Benefits of collaboration among professionals: legal, accounting, and financial
- Identify the advisor with the closest relationship with the client
- Behavior issues and the surviving spouse
- Enlist financial professionals early, they are often the gatekeeper
- Prevent tracing and accounting nightmares.
- Prevent rapid change of registration in retirement accounts.
- Practical actions where each team member adds value
- The importance of Liquidity in Subtrust Funding
- Examples of Subtrust Funding collaboration: Examining asset characteristics; tax and nontax issues. Pulling away from the myopic tax-controlled allocations
Family Values: Putting It On Paper
Donna G. Barwick J.D., CFP®
As planners begin to understand what statistics show, that failure to pass wealth down generations is usually not from lack of tax planning but rather from lack of family communication and family dynamics, more attention is being focused on those issues. But once focused and working on those issues, how can planners incorporate the family’s values, goals, and governance objectives into the estate planning documents? This program will discuss a variety of tools for planners to use in drafting, including: side letters, ethical wills, incentive trusts and protectors and advisers to name a few.
Transferring Business Interests to Family Members
Francis P. Brown, J.D., MIM, LL.M. (Tax)
The Place for Irrevocable Trusts in a Non-Tax Environment
D. Scott Schrader, Esq.
Asset Protection for Seniors: How to Supercharge Any Plan with Proper Insurance Products
Louis W. Pierro, Esq.
Mining the Gold in Your Personal Information Form
Eden Rose Brown, Esq.
Ethical Challenges in Elder Law
Connie Bauswell, Esq.
Dealing With Problems that Arise After a VA Pension Application is Filed
Dawn M. Weekly, Esq. and Valerie L. Peterson, Esq.
Integrating Elder Law Into Your Estate Planning Practice
Julieanne Steinbacher, Esq.
Understanding Medicare Set-Aside Trusts
Christine A. Alsop, Esq.
Frequently Asked Questions About Irrevocable Trusts in Medicaid and VA Planning
New Developments in Elder Law, Special Needs Planning and Veterans Benefits Planning
Louis W. Pierro, Esq. and Howard S. Krooks, Esq.
Register Today: Online | Email | Or Call Direct: 888.659.4069 x842
