49 TH ANNUAL HECKERLING INSTITUTE ON ESTATE PLANNING JANUARY 12-16, 2015 ORLANDO WORLD CENTER MARRIOTT RESORT AND CONVENTION CENTER ORLANDO, FLORIDA

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1 49 TH ANNUAL HECKERLING INSTITUTE ON ESTATE PLANNING JANUARY 12-16, 2015 ORLANDO WORLD CENTER MARRIOTT RESORT AND CONVENTION CENTER ORLANDO, FLORIDA Unparalleled Coverage of Individual and Estate Planning

2 SCOPE The Heckerling Institute on Estate Planning is the national gathering place for estate planners, including attorneys, trust officers, accountants, insurance advisors, and wealth management professionals. In addition to the highest quality educational programming, attendees enjoy valuable networking and professional development opportunities and can review the latest in technology, products and services displayed by nearly 150 vendors in an exhibit hall dedicated entirely to the estate planning industry. This year s Institute offers practical guidance on both the tax and non-tax issues involved in individual and estate planning. In addition to traditional estate planning topics, the program will explore the increasingly important area of income tax planning for individuals, trusts, and estates, and will examine the intersection of income and wealth transfer tax planning. The program also includes extensive coverage of the non-tax topics of timely interest to estate planners, including asset protection, charitable giving, special needs planning, fiduciary administration, and planning with trusts. Attendees can choose to explore a broad range of topics in our general session lectures and afternoon panels, or can customize their educational experience by taking advantage of one of our specialized program tracks. Some of the highlights of this year s program include: Recent Developments: This panel, featuring three of the nation s leading estate planning experts, will analyze the most significant legislative, regulatory and case law developments of Focus Series: This unique series of programs will explore the intersection of income and wealth transfer tax planning including managing tax basis to reduce both income and transfer taxes, unwinding unwanted or outdated transactions, planning with SCINs and private annuities, tax procedure, and marital planning in light of portability. NEW! Charitable Giving: A series of programs will explore the attorney s role as charitable gift advisor, provide strategies for drafting effective charitable gift agreements, and suggest cutting edge ideas for planning with split-interest trusts. CHR Financial Assets: Our financial assets series will examine planning strategies that can lower potential transfer taxes and reduce the net tax effect of a sale of assets, explore the use of life insurance as an asset class, compare planning with SCINs and private annuities, and focus on planning for retirement benefits. Litigation and Tax Controversies: This series will review recent case law involving fiduciaries, examine will and trust provisions likely to lead to litigation, and consider the issues involved in contested guardianships. Fundamentals: This year s fundamentals programs will explore the rules of basis and their importance to estate planners, provide an overview of the income taxation of estates and trusts, and highlight some of the best and worst planning ideas for retirement benefits. The Lloyd Leva Plaine Distinguished Lecture will feature Pulitzer Prize winning journalist David Cay Johnston who will share his ideas for an effective rewrite of the estate and gift tax. Attending the Heckerling Institute is a valuable investment for every member of the estate planning team. Please join us in Orlando, January 12-16, 2015 to take advantage of this exciting event! CHR INSTITUTE FACULTY Steve R. Akers Bessemer Trust Dallas, Texas N. Todd Angkatavanich Withers Bergman LLP Greenwich, Connecticut Ronald D. Aucutt McGuireWoods LLP Tysons Corner, Virginia Edward J. Beckwith BakerHostetler Washington, DC Dennis I. Belcher McGuireWoods LLP Richmond, Virginia John F. Bergner Winstead P.C. Dallas, Texas Turney P. Berry Wyatt, Tarrant & Combs LLP Louisville, Kentucky Jonathan G. Blattmachr Pioneer Wealth Partners, LLC Gerard G. Brew McCarter & English Newark, New Jersey Lawrence Brody Bryan Cave LLP St. Louis, Missouri Scott Brown Stroz Friedberg Boston, Massachusetts Elaine M. Bucher Gunster West Palm Beach, Florida Sarah S. Butters Holland & Knight Tallahassee, Florida Carol A. Cantrell Cantrell & Cantrell, PLLC Houston, Texas Natalie B. Choate Nutter McClennen & Fish LLP Boston, Massachusetts Henry Christensen III McDermott Will & Emery Christopher P. Cline Wells Fargo Wealth Management Portland, Oregon Richard L. Dees McDermott Will & Emery Chicago, Illinois Samuel A. Donaldson Georgia State University Atlanta, Georgia Jeremiah W. Doyle, IV BNY Mellon Wealth Management Boston, Massachusetts S. Stacy Eastland Goldman Sachs & Co. Houston, Texas 1 Register online today at

3 Dana G. Fitzsimons, Jr. Bessemer Trust Atlanta, Georgia Peter J. Forman Gutter Chaves Josepher Rubin Forman Fleisher Miller P.A. Boca Raton, Florida Charles D. Skip Fox, IV McGuireWoods LLP Charlottesville, Virginia Lawrence A. Frolik University of Pittsburgh School of Law Pittsburgh, Pennsylvania Thomas P. Gallanis University of Iowa College of Law Iowa City, Iowa Susan N. Gary University of Oregon School of Law Eugene, Oregon Robert W. Goldman Goldman Felcoski & Stone P.A. Naples, Florida Steven B. Gorin Thompson Coburn LLP St. Louis, Missouri David A. Handler Kirkland & Ellis LLP Chicago, Illinois Ellen K. Harrison Pillsbury Winthrop Shaw Pittman LLP Washington, DC Nancy G. Henderson Henderson, Caverly, Pum, & Charney Rancho Santa Fe, California William T. Hennessey Gunster West Palm Beach, Florida David J. Herzig Valparaiso University Law School Valparaiso, Indiana University of Louisville Brandeis School of Law Louisville, Kentucky Benetta Park Jenson J.P. Morgan Private Bank Chicago, Illinois David Cay Johnston Syracuse University College of Law Syracuse, New York Amy K. Kanyuk McDonald & Kanyuk, PLLC Concord, New Hampshire Robert S. Keebler Keebler & Associates, LLP Green Bay, Wisconsin Shane Kelley The Kelley Law Firm, P.L. Ft. Lauderdale, Florida Edward F. Koren Holland & Knight Tampa, Florida Bernard A. Krooks Littman Krooks LLP Lester B. Law Abbot Downing Naples, Florida Judge Margaret A. Mahoney U.S. Bankruptcy Court for the Southern District of Alabama Mobile, Alabama Mary Ann Mancini Loeb & Loeb LLP Washington, DC Carlyn S. McCaffrey McDermott Will & Emery Michele A.W. McKinnon McGuireWoods LLP Richmond, Virginia Louis A. Mezzullo Withers Bergman LLP Encinitas, California Steven K. Mignogna Archer & Greiner P.C. Haddonfield, New Jersey M. Read Moore McDermott Will & Emery Menlo Park, California Duncan E. Osborne Osborne, Helman, Knebel & Deleery Austin, Texas Crystal M. Patterson Fredrikson & Byron, P.A. Minneapolis, Minnesota John W. Porter Baker Botts LLP Houston, Texas David Pratt Proskauer Rose LLP Boca Raton, Florida Christine Quigley Holland & Knight Chicago, Illinois Mary F. Radford Georgia State University College of Law Atlanta, Georgia David E. Ratcliffe U.S. Trust, Bank of America Private Wealth Management Charles L. Ratner Ernst & Young Cleveland, Ohio Charles A. Clary Redd Stinson Leonard Street LLP St. Louis, Missouri Ziva Robertson McDermott Will & Emery London, England John T. Rogers, Jr. Seyfarth Shaw LLP Los Angeles, California Thomas C. Rogerson Wilmington Trust, N.A. Duxbury, Massachusetts Alan F. Rothschild, Jr. Hatcher, Stubbs, Land, Hollis & Rothschild Columbus, Georgia Gideon Rothschild Moses & Singer, LLP Joshua S. Rubenstein Katten Muchin Rosenman LLP Robert N. Sacks Sacks, Glazier, Franklin & Lodise LLP Los Angeles, California Kathleen R. Sherby Bryan Cave LLP St. Louis, Missouri Barbara A. Sloan McLaughlin & Stern, LLP Karen Sandler Steinert Fredrikson & Byron, P.A. Minneapolis, Minnesota Jean-Marc Tirard Tirard Naudin Law Firm Paris, France J. Robert Turnipseed Armbrecht Jackson LLP Mobile, Alabama Suzanne B. Walsh Cummings & Lockwood LLC West Hartford, Connecticut Robert A. Weiss J.P. Morgan Private Bank Florham Park, New Jersey Melissa J. Willms Davis & Willms, PLLC Houston, Texas Lauren J. Wolven Horwood Marcus & Berk Chartered Chicago, Illinois Howard M. Zaritsky Consulting Counsel Rapidan, Virginia Diana S.C. Zeydel Greenberg Traurig Miami, Florida Register online today at 2

4 INSTITUTE SCHEDULE SUNDAY, JANUARY 11 2:00 6:00 Early Registration MONDAY, JANUARY 12 7:00 Institute Registration Continues 9:00 12:15 FUNDAMENTALS PROGRAM 10:30 10:45 Break 12:15 2:00 Lunch 2:00 2:10 Introductory Remarks Basis Banal? Basic? Benign? Bewildering? Howard M. Zaritsky u Lester B. Law Basis used to be a simple tax concept of only modest importance to estate planners, but recent tax law changes have made income tax planning more important than estate tax planning for some clients, and the use of such techniques as intentional grantor trusts, contingent powers of appointment, private annuities, Alaska community property trusts, joint exempt step-up trusts (JESTs), and trust commutation have made basis sometimes very difficult to determine and even harder to integrate into an estate plan. This session will explore the rules of basis and their increasing importance in estate planning. 2:10 5:15 Recent Developments :30 3:45 Break 6:00 7:00 Institute Opening Reception TUESDAY, JANUARY 13 Tina Portuondo, Director, Heckerling Institute Patricia D. White, Dean, University of Miami School of Law Dennis I. Belcher u Samuel A. Donaldson u Carlyn S. McCaffrey 9:00 9:50 Trust Design: The Most Important Part of the Estate Plan David A. Handler Trusts into which assets are transferred during life or at death will govern the administration, investment and disposition of the assets for one or possibly several generations. It is critical to build a smart, flexible trust agreement that can adjust over time, as the people, assets and society will all change in unforeseeable ways during the life of the trust. This session will discuss ways to make a trust flexible, and oft-overlooked provisions that should be in every trust agreement. 9:50 10:40 Portability or No: Death of the Credit Shelter Trust? Diana S.C. Zeydel 3 This program will review the opportunities and pitfalls of estate planning under the new portability regime. More complicated than advertised, relying exclusively on portability may rarely be the right answer. Planning to maintain flexibility is critical, but may be difficult to achieve. Understanding the rules and how the math works is key to giving clients the best advice. This program will apply simulation based analysis to quantify the financial consequences of a variety of estate planning strategies in light of portability. The results are eye opening and a must-know for every estate planner. Register online today at

5 10:40 10:55 Break 10:55 11:45 Planning for the 0.2% as if They Were Part of the 99.8%: Some of the Best Planning Strategies We See that Reduce Both Income Taxes and Estate Taxes S. Stacy Eastland The presentation will focus on planning strategies that lower the taxpayer s potential transfer taxes and reduce the net tax effect a sale of any assets subject to estate planning may have, including: various borrowing, location, disregarded entity, grantor trust, QSST, DSUE, mixing bowl and charitable planning strategies. The presentation will also explore various strategies that reduce a complex trust s income taxes, indirectly benefit grantor GST trusts with a Roth IRA conversion, and enhance the basis of a surviving spouse s assets. 11:45 12:35 The 30,000 Foot View from the Trenches: A Potpourri of Issues on the IRS s Radar Screen 12:35 2:00 Lunch John W. Porter This presentation will address a number of current audit and litigation issues from the perspective of a seasoned litigator who deals with the IRS on a daily basis. The discussion will include hard to value assets, formula clauses, 6166 issues, GRATs, tax return preparation issues, and avoidance of penalties. 2:00 2:50 SCINs and Private Annuities: Disappearing Value or Disappearing Strategies? Steve R. Akers For clients with shortened life expectancies, planners often consider sales for self-canceling installment notes (SCINs) or private annuities. Both of these strategies have come under IRS attack in recent cases. The underlying viability of these strategies, the tax effects (income, gift and estate tax) of these strategies, and practical planning considerations are addressed. 2:50 3:40 Oh, What a Relief It Is: Curing Estate Plans that No Longer Make Sense in Light of the American Taxpayer Relief Act of :40 3:55 Break John F. Bergner As a result of ATRA, the federal wealth transfer tax system is no longer relevant to most taxpayers and less relevant to the rest. For most taxpayers it will be more important to plan for reducing income tax than for reducing transfer tax. Typical estate planning transactions that may have once been appropriate for a client may be less so in the post- ATRA world. This presentation explores how clients can escape from the no-longer-useful (or perhaps harmful) estate planning transaction or more efficiently administer those they cannot escape from. 3:55 4:45 Cain v. Abel: How to Prevent Sibling and Cousin Rivalry When a Family Owns a Business Louis A. Mezzullo The discussion will describe strategies to deal with disputes among siblings and/or cousins over business and family issues that are detrimental to the success of the business and a congenial family, taking into account trust, corporate, tax, and estate planning issues. In addition, it will cover ways of dealing with such conflicts once they occur. Register online today at 4

6 4:45 5:35 Coping with Death and Incapacity: How the Uniform Fiduciary Access to Digital Assets Act will Help Suzanne B. Walsh Our clients lead increasingly virtual lives. Unfortunately, both technology provider policies and federal and state laws lag far behind technology s advances. The Uniform Fiduciary Access to Digital Assets Act ( UFADAA ), will give estate planners and fiduciaries the ability to plan for and manage digital assets, both before and after death. WEDNESDAY, JANUARY 14 9:00 9:50 The Devil Is in the Details: Important Tax Administration and Procedural Rules for Estate Planners M. Read Moore Who would want to lose a tax matter for a client based on a technicality? This presentation will address important technical rules, from the obvious to the obscure, that frequently come up with estate planning clients with respect to tax returns and tax controversies. Among the topics addressed will be what is a tax return, where, when, and how to file tax returns, amended returns, the gift tax adequate disclosure rules, refund claims, statutes of limitation, and when reliance on the advice of an attorney or accountant is reasonable cause to avoid penalties. 9:50 10:40 Lloyd Leva Plaine Distinguished Lecture Series Crafting a 21 st Century Estate and Gift Tax David Cay Johnston u Ronald D. Aucutt 10:40 10:55 Break The estate and gift tax are porous, ineffective and lack intellectual coherence. A rewrite of the code would give the system integrity, encourage strivers, discourage dynasties and strengthen the 2,500-year-old principle of progressive taxation that is fundamental to democracy. The presentation is part of a broader project to devise a tax code for the 21 st century economy drawing on ancient principles of tax that the author teaches at Syracuse University College of Law. 10:55 12:35 Question and Answer Panel 12:35 2:00 Lunch Dennis I. Belcher u Samuel A. Donaldson u Carlyn S. McCaffrey 2:00 5:20 FUNDAMENTALS PROGRAM (Runs concurrently with Special Sessions I & II) You ve Ignored Me Long Enough The Fundamentals of the Income Taxation of Estates and Trusts Robert S. Keebler u Jeremiah W. Doyle, IV This easy to understand session will discuss the core concepts of the income taxation of estates and trusts including planning ideas and the dirty dozen things estate planners need to know. A lifetime of knowledge taught in 3 hours! 5 Register online today at

7 2:00 3:30 SPECIAL SESSIONS I I-A Projecting the Financial Consequences of Planning or Not Planning with Portability Diana S.C. Zeydel u Robert A. Weiss Assisting clients with appropriate estate planning in light of portability is a daunting task. Using simulation based modeling, this program will examine the financial consequences of implementing different lifetime and post-mortem planning strategies for modest, mid-range and ultra-wealthy married couples under a variety of scenarios taking income and transfer taxes into account. Can we really do nothing and rely on portability? This program will reveal what the numbers show. I-B Planning with SCINs and Private Annuities Seizing Opportunities While Navigating Complications Steve R. Akers u N. Todd Angkatavanich u Melissa J. Willms SCINs and private annuities offer tremendous potential opportunities, in light of taxpayers ability to self-select when to use these strategies and various planning flexibilities. But these strategies also involve a host of complicated tax rules and requirements through which the planner must navigate. The panel will focus on practical planning issues and strategies. I-C Review of the Past Year s Significant, Curious, or Downright Fascinating Fiduciary Cases Dana G. Fitzsimons, Jr. u Gerard G. Brew Recent cases will be reviewed to assist fiduciaries and their advisors in identifying and managing contemporary fiduciary challenges, including: investments, business interests in trusts, disclosure and privileges, surcharge and defenses, trust modification, and more. I-D Asset Protection Trusts Under Attack - Views from the Bench and Bar Gideon Rothschild u Judge Margaret A. Mahoney Duncan E. Osborne Seventeen years after enactment of the first DAPT laws the courts have yet to rule in favor of them. This panel, including a Chief Judge of the U.S. Bankruptcy Court and two experienced practitioners, will examine and explore the efficacy of these structures. I-E What You Never Knew You Never Knew: More Tax Administration and Procedural Rules for Estate Planners M. Read Moore u Nancy G. Henderson This workshop will consider in depth a number of additional rules that apply to tax returns and tax audits, including transferee liability, fiduciary personal liability, estate and gift tax liens, tax payments and deposits, extraterritorial application of U.S. tax laws, equitable recoupment and setoff, and similar topics. The last time this topic was addressed in depth at the Institute was in 1999, so don t miss out on this once in a blue moon but nevertheless important topic. Register online today at 6

8 CHR I-F The Philanthropic Imperative Edward J. Beckwith u David E. Ratcliffe u David Pratt 7 3:30 3:50 Break Thoughtful planning often projects well beyond our clients and their families. Increasingly, clients care about and seek to address the needs of others and issues both local and global. This session will explore why our clients want us to engage and help guide their charitable ambitions as part of their planning. Our panel will examine why this is a core competency and what each planner needs to know to be relevant and impactful for clients. Basic tools and techniques will be discussed in the broader context of various life cycle events. SPECIAL SESSIONS II 3:50 5:20 II-A Planning Strategies That Reduce Both Income Taxes and Estate Taxes S. Stacy Eastland u Steven B. Gorin u Ellen K. Harrison If a basis enhancing strategy is not used, the panel will explore the break-even growth rate that is required before it is more advantageous to give away a low basis asset. The panel will also focus on the advantages and considerations of different basis enhancing strategies that could be used with estate planning including: various borrowing, disregarded entity, grantor trust, QSST, DSUE, mixing bowl and charitable planning strategies. The panel will also explore strategies that reduce a complex trust s income taxes and enhance the basis of a surviving spouse s assets. II-B A Panel Discussion: The Most Important Elements, Clauses and Ideas for Trust Design David A. Handler u David J. Herzig u Benetta Park Jenson A panel discussion by experts from the banking, legal and academic worlds regarding design and structure of trusts, key provisions for every trust agreement, and building flexibility into trusts to adjust and evolve over time. II-C Keeping It in the Family Louis A. Mezzullo u Christine Quigley The session will explore business succession planning for the closely-held and family owned business, including various exit strategies and techniques to deal with liquidity issues. A hypothetical fact pattern will be used. II-D Life Insurance as an Asset Class Lawrence Brody u Mary Ann Mancini u Charles L. Ratner This panel will discuss planning with life insurance in a post-atra world, including life insurance as an investment, reassessing the need for estate liquidity, techniques for paying large premiums on trust-owned policies, managing existing policies and programs, and addressing issues with existing policies in Is. II-E Covering Your Assets (Digitally and Ethically Speaking) and Managing Cyber Risks: Are You, Your Firm, and Your Clients Cyber-Secure? John T. Rogers, Jr. u Scott Brown u Suzanne B. Walsh Cyber-attacks used to be science fiction; now they are very real. They range from annoyances such as spam to sophisticated schemes to destroy or steal data, steal money, disrupt business, and damage reputations. As professionals, we face not only risks of our own losses, but also risks of liability if we do not take reasonable steps to protect client information and confidentiality (including posthumously). This panel will discuss the latest threats, what the future holds, and what you and your clients should (and should not) be doing to address cyber risk and post-mortem issues from the legal, ethical, and practical standpoints. Register online today at

9 CHR II-F Restricted Charitable Gifts: Drafting Agreements that Stand the Test of Time Alan F. Rothschild, Jr. u Susan N. Gary u Michele A.W. McKinnon THURSDAY, JANUARY 15 Donors want to help charities and charities need and want that help, but over time problems can develop over the interpretation of restricted gifts. To minimize later conflict, a gift agreement should describe the charitable use as clearly as possible and should plan for future changes in circumstances, while keeping in mind a complex set of laws. This program will suggest ways to draft an effective charitable gift agreement which achieves the donor s goals, and provides lasting benefits to the charity. 9:00 9:50 Powers of Appointment in the Current Planning Environment Turney P. Berry Powers of appointment are seemingly ubiquitous and have a myriad of family, administrative and tax uses. We will examine the state law of powers of appointment focusing on the new Uniform Powers of Appointment Act adopted by the Uniform Law Commission as well as the federal income, gift and estate tax consequences of holding and exercising powers. 9:50 10:40 CHR Something Alien? Split-Interest Trusts Created by Entities: Sometimes a Good Notion 10:40 10:55 Break Jonathan G. Blattmachr It may seem impossible, ridiculous or downright silly, but there are times when having a partnership, corporation or trust create a charitable remainder trust or a charitable lead trust will produce a superior result than having an individual do so. This presentation will provide a map, a GPS and coordinates to traverse this previously uncharted territory. 10:55 11:45 In Protectors We Trust: The Nature and Effective Use of Trust Protectors Kathleen R. Sherby This presentation will explore the state of the law in the U.S. governing trust protectors, what is meant when referring to a trust protector, the differing roles a trust protector can fulfill to maximize flexibility of a trust and carry out the settlor s intent, the extent of the trust protector s duties, if any, and to whom these duties might be owed, the terms essential to include in a trust when providing for a trust protector, and what a person should confirm prior to agreeing to serve as a trust protector. 11:45 12:35 Ethical Considerations in Acting as an Executor or Trustee: Do You Really Want to Do This? Charles D. Skip Fox, IV This session will review the ethical considerations that lawyers and other professionals must take into account when deciding whether to be named as an executor or trustee and when acting as an executor or trustee. Among the subjects to be covered are avoiding conflicts of interest, communications with beneficiaries and third parties, hiring the lawyer s firm to represent the trust or estate, how to and not to charge fees, and confidentiality of information including possible responsibilities to the IRS. Register online today at 8

10 12:35 2:00 Lunch 2:00 5:20 FUNDAMENTALS PROGRAM (Runs concurrently with Special Sessions III & IV) The 201 Best & Worst Planning Ideas for Your Client s Retirement Benefits Natalie B. Choate Our clients are bombarded with schemes to reduce the taxes on their retirement plans. Some are tried and true techniques that should not be overlooked. Others are off the wall and should be avoided. Some definitely don t work, some definitely do work, and some are yet to be tested...and they re all here! SPECIAL SESSIONS III 2:00 3:30 III-A Curing Obsolete Estate Plans in Light of ATRA 2012 John F. Bergner u Carol A. Cantrell u Barbara A. Sloan This session will explore how clients can escape from prior planning techniques that are either no longer useful or perhaps harmful in light of ATRA III-B A Closer Look at Powers of Appointment in the Current Planning Environment Turney P. Berry u Sarah S. Butters u Thomas P. Gallanis The panel will look at key issues in drafting and exercising powers of appointment such as choice of law, design of powers, and comparing powers of appointment to fiduciary distribution and administrative powers. The Uniform Powers of Appointment Act will be reviewed as well as general common law principles. Common and clever uses of powers will also be featured. III-C Trust Protectors for Trusts for Individuals with Special Needs: Not an Option Anymore - But Not Just Boilerplate Lawrence A. Frolik u Bernard A. Krooks u Kathleen R. Sherby Planners setting up trusts for beneficiaries with special needs know that because such beneficiaries are unlikely to be able to protect their interests, a trust protector is needed. But the planner should carefully consider just what is being protected and what trust provisions are needed to ensure that the protector, in name, is a protector, in fact. And should the protector be a fiduciary? All this and more will be discussed as we move the use of trust protector from the world of theory to the land of the practical. III-D International Developments Everyone Should Know About Henry Christensen III u Ziva Robertson u Jean-Marc Tirard This session will examine 2014 developments worldwide in the taxation of foreign accounts and trusts and in reporting requirements that apply to just about everyone, as well as important offshore trust judicial decisions everyone should know about. III-E Will to Litigate Steven K. Mignogna u Robert W. Goldman u Charles A. Clary Redd 9 Clients often request, if not require, provisions in wills and trusts aimed at preventing disputes. Estate planners likewise recommend techniques for the same goal. Ironically, those same measures often increase the likelihood of lawsuits. This program will survey the common steps and provisions that lead to contention and how to deal with them in the drafting and litigation stages. The presentation is vital for those who counsel clients on estate planning, administration, or litigation and don t want to be the target of lawsuits themselves. Register online today at

11 3:30 3:50 Break III-F Family Governance: Mumbo Jumbo or Credo? Joshua S. Rubenstein u Thomas C. Rogerson The topic of family governance has become such an overly promoted flavor du jour that some practitioners tend to dismiss family governance issues as being pablum (as opposed to being a topic for sober consideration), while others assume it is only relevant to the ultra-wealthy. Our speakers will consider the nuts and bolts of family governance issues for ALL clients, not just the ultra-wealthy, including preparing one s family for wealth and considerations behind selecting a trustee to implement the family plan. SPECIAL SESSIONS IV 3:50 5:20 CHR IV-A Split-Interest Trusts Created by Entities: When and Why It Will Make Sense... and More! Jonathan G. Blattmachr This presentation will provide additional detail on when it will be preferable to have a trust, corporation or partnership create a charitable remainder trust or charitable lead trust. In addition, it will explore the impossible dream: how to create a charitable lead trust that is a grantor trust (so the grantor gets an immediate income tax deduction) without having to report any appreciable taxable income during the lead trust term. IV-B Case Studies in the Ethical Considerations in Acting as an Executor or Trustee Charles D. Skip Fox, IV u Amy K. Kanyuk u Mary F. Radford Using case studies, the panel will examine different ethical issues that arise when a lawyer or other professional acts as an executor or trustee. IV-C Advising the Fiduciaries of Trusts and Estates Holding Business Interests-- Balancing Tax Objectives with State Law Duties Edward F. Koren u Richard L. Dees Karen Sandler Steinert u Robert J. Turnipseed A fiduciary owning a closely-held business faces unique legal, tax, ethical and practical issues. This panel will explore those issues, including the proper tax elections for trusts holding S stock; the application of the evolving material participation requirements on a fiduciary; fiduciary liability for tax issues involving the business prior to its acquisition; the impact of the Prudent Investor Rule; the emergence of divided decision-making among fiduciaries, including directed trusts; and the conflicts that can arise between the duties of the trustee as a director or shareholder and the fiduciary duties to the beneficiaries. IV-D What s Hot in Florida? Recent Developments in Florida Law Elaine M. Bucher u William T. Hennessey u Shane Kelley This presentation will review recent developments and hot topics in Florida law that all professionals practicing in the trusts and estates arena should be aware of. IV-E Grandma, Here s Your Deposition Subpoena: Contested Guardianship Issues Robert N. Sacks u Peter J. Forman u Crystal M. Patterson This program will cover a host of issues in contested guardianships/conservatorships, ranging from normal battles to multi-jurisdictional disputes, as well as contested substituted judgment proceedings. Register online today at 10

12 FRIDAY, JANUARY 16 9:00 9:50 The New Normal: Planning for the Modern Family Lauren J. Wolven As popular media reflects, families today come in all shapes and sizes. Contemplating the modern family to reduce conflicts through thoughtful drafting has become a significant aspect of estate planning. This session will focus on crafting estate plans to deal with second (or subsequent) marriages, long-term nonmarriage relationships, same-sex couples and twilight relationships. Consideration also will be given to defining terms such as spouse and descendant. 9:50 10:40 Planning for Life After Death: Laws of Succession vs. The New Biology Joshua S. Rubenstein Most of us are accustomed to having a relatively broad ability to control the disposition of our property following our deaths. It comes as a surprise to know how little ability we have to control the disposition of ourselves, and the uses to which we can be put, following our deaths. This talk will examine the ability to control burial and the disposition of body parts, the posthumous use of our genetic material, inheritance by posthumously procreated individuals, and exhumation for the purpose of genetic testing. It will also offer practical suggestions concerning what can be done to address the fact that medical science now permits the class of one s children not to be closed by one s death. 10:40 10:50 Break 10:50 12:00 Our Return to What Really Matters in Estate Planning... and the end of our exploring will be to arrive where we started and know the place for the first time. - T.S. Eliot, Four Quartets Christopher P. Cline Our journey through the legislative underbrush of the last ten years has taught us lessons about what really matters most to clients. The wide variety of topics covered at this Institute are joined through the perennial questions they raise: how can I keep (or maybe give) control of my wealth; how do I use my wealth for my and my heirs happiness (or at least productivity); how best can I leave a financial legacy; and how can I (as an advisor) provide the insights my clients demand in the face of all this complexity? This wrap-up program examines those perennial questions and tries to link the outstanding presentations made this week through the answers they provide. 11 Register online today at

13 DIAMOND SPONSORS PLATINUM SPONSORS Tina Portuondo, Chair University of Miami School of Law Coral Gables, Florida Steve R. Akers Bessemer Trust Dallas, Texas Ronald D. Aucutt McGuireWoods, LLP Tysons Corner, Virginia Dennis I. Belcher McGuireWoods, LLP Richmond, Virginia Norman J. Benford Greenberg Traurig, PA Miami, Florida Turney P. Berry Wyatt, Tarrant & Combs LLP Louisville, Kentucky Lawrence Brody Bryan Cave, LLP St. Louis, Missouri J. Donald Cairns Spieth, Bell, McCurdy & Newell Co., LPA Cleveland, Ohio Samuel A. Donaldson Georgia State University Atlanta, Georgia S. Stacy Eastland Goldman Sachs & Co. Houston, Texas Carol A. Harrington McDermott Will & Emery Chicago, Illinois ADVISORY COMMITTEE Donald O. Jansen University of Texas System Austin, Texas Carlyn S. McCaffrey McDermott Will & Emery Jerry J. McCoy Law Office of Jerry J. McCoy Washington, D.C. Louis A. Mezzullo Withers Bergman LLP Encinitas, California Malcolm A. Moore Davis Wright Tremaine, LLP Seattle, Washington M. Read Moore McDermott Will & Emery LLP Menlo Park, California Jeffrey N. Pennell Emory University School of Law Atlanta, Georgia John W. Porter Baker Botts, LLP Houston, Texas Susan Porter Fiduciary Consultant Bruce S. Ross Holland & Knight Los Angeles, California Gideon Rothschild Moses & Singer, LLP Bruce M. Stone Goldman Felcoski & Stone P.A. Coral Gables, Florida Patricia D. White University of Miami School of Law Coral Gables, Florida Howard M. Zaritsky Consulting Counsel Rapidan, Virginia EMERITUS MEMBERS Byrle M. Abbin WTAS Washington, D.C. Mark L. Ascher University of Texas School of Law Austin, Texas Alan D. Bonapart Bancroft & McAlister LLP Larkspur, California Dave L. Cornfeld St. Louis, Missouri Max Gutierrez, Jr. San Francisco, California Marcia Chadwick Holt Davis Graham & Stubbs LLP Denver, Colorado Judith W. McCue Chicago, Illinois John R. Price Seattle, Washington Ellen K. Harrison Pillsbury Winthrop Shaw Pittman LLP Washington, D.C. Pam H. Schneider Gadsden Schneider & Woodward, LLP Radnor, Pennsylvania Register online today at 12

14 GUEST PROGRAMS The Heckerling Institute offers the following programs for our registrants guests. To register, complete the appropriate section on the Institute registration form. Tours are subject to availability and are non-refundable. Tuesday, January 13 th - Taste Orlando (11:00 a.m. 4:30 p.m.) $100 This tour will tickle your taste buds as you visit four of Orlando s delicious eateries. The afternoon will also include a scenic boat tour of Winter Park. Come hungry and leave with happy palates! Wednesday, January 14 th - Chihuly Collection and Glass Blowing Demonstration (8:30 a.m. 5:00 p.m.) $60 Visit St. Petersburg to see Dale Chihuly s unique and stunning artwork. A docent-led tour will be provided. Stop for lunch (on your own) then visit the Glass Studio to watch a glass blowing demonstration. Thursday, January 15 th - Florida Eco Adventures (8:30 a.m. 4:30 p.m.) $70 / $105* Tour a wildlife conservation area by either Open-Air Safari Coach ($70) or Zipline* ($105) and observe an endless array of local plants and animals. Lunch can be purchased on-site after the tour. *Minimum: 8 years old. Weight lbs. GENERAL INFORMATION REGISTRATION Advanced online registration is highly recommended. The $1,040 registration fee includes admission to the educational sessions, continental breakfasts, and the Monday evening Institute reception. To register online please visit our website You may also mail your completed registration form, and payment by check (payable to the University of Miami School of Law), or credit card. Faxed registrations will be accepted only for those paying by credit card. Register by Friday November 7, 2014 to be included in the Conference Guide & Registration List. For additional information please call Sharing registrations is not permitted. MATERIALS Registrants will receive one set of materials available in: Print, CD-ROM, or USB. The registration fee also includes complimentary on-site access to the conference materials on your ipad or Android tablets Monday through Friday of Institute week. Access instructions for the Heckerling App will be distributed at the Institute registration desk. Additional materials may be purchased for $250. Conference materials are copyrighted and cannot be duplicated, reused, or shared without written consent from the Heckerling Institute. CANCELLATIONS, COMPLAINTS, AND REFUNDS Registration fees are refundable (less a $100 administrative fee) if written notice is received no later than 12 Noon EST, Friday, December 19, For more information regarding administrative policies such as complaints or refunds, please call Refunds are not available for guest programs. PROCEEDINGS LexisNexis Matthew Bender, will publish the proceedings of the Institute. Registrants may purchase the volume at the LexisNexis exhibit booth. The proceedings of the 48 th Annual Heckerling Institute (January 2014) are now available from LexisNexis. For further information, please direct your inquiries to LexisNexis Matthew Bender at or visit HECKERLING GRADUATE PROGRAM IN ESTATE PLANNING The University of Miami School of Law offers a unique Graduate Program in Estate Planning taught by many of the nation s leading experts. The program provides comprehensive coverage of the tax and non-tax aspects of individual and estate planning, and is ideally suited for both entry level attorneys and more experienced attorneys interested in expanding their estate planning practice. The two semester program is offered on either a full or parttime basis. Our New Joint J.D./LL.M. Program allows Miami Law students to earn both degrees over either six or seven semesters. The Joint Degree Program is also available to visiting students from other law schools. For additional information on our Graduate Program visit 13 Register online today at

15 ACCREDITATION Continuing legal education credit has been applied for in every state that has mandatory continuing legal education requirements and has been routinely granted for past Institutes. In the past, continuing education credit has also been available for other estate planning professionals, including accountants, IRS enrolled agents, financial planners, banking and insurance professionals. We urge you to contact our office in advance with questions regarding the availability of credit for a specific jurisdiction or profession, as we cannot guarantee that credit will be available in all cases. The University of Miami School of Law is registered with the National Association of State Boards of Accountancy (NASBA) as a sponsor of continuing professional education on the National Registry of CPE Sponsors. State boards of accountancy have final authority on the acceptance of individual courses for CPE credit. Complaints regarding registered sponsors may be submitted to the National Registry of CPE Sponsors through its website: Program Level: Advanced; Program Prerequisites: General familiarity with estate planning principles; Delivery Method: Group-Live; Amount of Recommended CPE credit: 33.5 hours; Recommended Field of Study: Taxes; Advance Preparation: None; Learning Objectives: Upon completion of the program, participants will be able to identify, analyze and resolve practical estate planning, administration and tax reporting issues. HEADQUARTERS HOTEL Orlando World Center Marriott Resort & Convention Center Conference Rate: $260 (single/double) Cut-Off Date: December 15, 2014 or until the room block is sold out Reservations: or visit ALTERNATE HOTEL ACCOMMODATIONS Courtyard Marriott Village at Lake Buena Vista (Complimentary shuttle available to/from conference) Conference Rate: $197 (single/double) Cut-Off Date: December 12, 2014 or until the room block is sold out Reservations: or visit Marriott s Sabal Palms / Marriott s Royal Palms (located on the World Center Golf Course) Reservations: or (rates vary) All hotel rates are subject to availability DISCOUNTED TRANSPORTATION Avis is the official car rental company for the Institute or visit (Discount Code: J787579) Mears Transportation provides airport shuttle service for the Institute or visit for a printable discount voucher COMPLIMENTARY EVENING TRANSPORTATION TRAVEL ARRANGEMENTS Complimentary evening shuttle service will be provided to selected dining and entertainment areas from 6:00 p.m. to midnight. Downtown Disney: Monday & Wednesday Universal City Walk: Tuesday & Thursday Save the Date! Join us as we celebrate our 50 th anniversary! January 11-15, 2016 at the Orlando World Center Marriott *The Heckerling Institute on Estate Planning reserves the right to change, with or without notice, any statement in the brochure concerning, but not limited to, rules, policies, tuition, fees, curriculum, courses, faculty and programs. Register online today at 14

16 P.O. Box Coral Gables, Florida Telephone: An Equal Opportunity/Affirmative Action University