Thirty-sixth Annual Notre Dame Tax & Estate Planning Institute

Transcription

1 Thirty-sixth Annual Notre Dame Tax & Estate Planning Institute CENTURY CENTER South Bend, Indiana October 28-29, 2010

2 Thirty-sixth Annual Notre Dame T Thursday: 7.58 hours/ ethics* 1 hour Thursday, October 28, :00 a.m. Welcoming Ceremonies... Hall A Jerome M. Hesch, Miami, Florida 8:10 a.m. Current Developments Involving FLPs and LLC: What is Hot (60 min)... Hall A John Porter, Houston, Texas Choose from the following sessions which are scheduled to run concurrently 9:10 a.m. Break 9:25 a.m. Session 2A IRAs: Newest Developments in Planning for Retirement Benefits, and What You Do Not Know About the Minimum Distribution Rules Natalie B. Choate, Boston, Massachusetts 11:25 a.m. Break 11:40 a.m. Session 3A Planning for Retirement Benefits: Maximizing Income Tax Deferral While Preserving Other Estate Planning Objectives Jim Blase, St. Louis, Missouri 9:10 a.m. Break 9:25 a.m. Session 2B Charitable Trust Planning in Depth Edward J. Beckwith, Washington, DC Jerry McCoy, Washington, DC 11:25 a.m. Break 11:40 a.m. Session 3B Charitable Trust Planning in Depth (cont.) Edward J. Beckwith, Washington, DC Jerry McCoy, Washington, DC 12:30 p.m. Luncheon - no speaker...great Hall 12:30 p.m. Luncheon - no speaker...great Hall Fidelity Charitable Services is pleased to sponsor the Luncheon Choose from the following sessions which are scheduled to run concurrently 1:30 p.m. Session 4A Drafting for Repeal, Restoration and Other Uncertainty and Instability Jerry Horn, Peoria, Illinois 2:45 p.m. Break 3:00 p.m. Session 5A Trusts: Income Shifting, Elimination, or at Least Minimizing, State Income Taxes on Trusts Marvin Hill, South Bend, Indiana 3:50 p.m. Session 6A Wealth Conservation and Planned Giving for Art Collectors Joshua Rubenstein, New York, New York 4:40 p.m. Session 7A Pulling The Rabbit Out Of The GRAT Hat: Some Of the Most Creative GRAT Planning Ideas We See Out There Stacy Eastland, Houston, Texas 1:30 p.m. Session 4B Income Tax Exit Strategies for Business Owners Steve Gorin, St. Louis, Missouri 2:45 p.m. Break 3:00 p.m. Session 5B Carryover Basis: Important Lessons In or Out of EGRTTA David Herzig, Valparaiso, Indiana 3:50 p.m. Session 6B Death of a FLP Partner: Income Tax Traps Todd Steinberg, McLean, Virginia 4:40 p.m. Session 7B* Risk Assessment and Checklist: The Big Picture is Often Overlooked but Critical Avi Kestenbaum, Mineola, New York 5:45 p.m. Reception Follows at Tippecanoe Place (until 7:45 p.m.) 620 West Washington hosted by Stout Risius Ross, Inc.

3 ax and Estate Planning Institute Friday, October 29, 2010 The Northern Trust Company is pleased to be a sponsor of today's program 8:00 a.m. Recent Wealth Transfer Developments... Hall A Professor Jeffrey N. Pennell, Atlanta, Georgia Choose from the following sessions which are scheduled to run concurrently Friday: 7.33 hours/ ethics* 1 hour 9:00 a.m. Break 9:15 a.m. Session 9A* Current Legal and Ethical Developments in Asset Protection Planning Strategies Barry Nelson, Miami, Florida Gideon Rothschild, New York, New York Judge Laurel Isicoff, Miami, Florida 11:15 a.m. Break 11:30 a.m. Session 10A Effective Use of Formula Clauses to Handle Drafting in 2010 and Beyond Diana S.C. Zeydel, Miami, Florida 12:30 p.m. Luncheon...Great Hall rsvp required (see registration form) The State of The Profession!! (Session 11A) Jonathan G. Blattmachr, New York, New York 9:00 a.m. Break 9:15 a.m. Session 9B Choice of Grantor Trust Powers and Financial Impact of Grantor Trusts Professor Lad Boyle, Columbia, South Carolina David Handler, Chicago, Illinois Richard Oshins, Las Vegas, Nevada 11:15 a.m. Break 11:30 a.m. Session 10B The BDIT and Panel Discussion Professor Lad Boyle, Columbia, South Carolina David Handler, Chicago, Illinois Richard Oshins, Las Vegas, Nevada 12:30 p.m. Luncheon - no speaker... White Water Room 1:30 p.m. Construing Wills and Trust In 2010 When The Documents Use Tax Terms...Session 12A/B That Do Not Have Any Meaning Professor Lad Boyle, Columbia, South Carolina Choose from the following sessions which are scheduled to run concurrently 2:30 p.m. Session 13A Planning That Can Be Done In The Remainder of 2010 Depending Upon The Status of The Law In October Charles D. "Skip" Fox, IV, Charlottesville, VA 3:20 p.m. Break 3:35 p.m. Session 14A Installment sales to grantor trusts: Seller s death is a sad event. Is it also a taxable event? Michael Mulligan, St. Louis, Missouri 4:25 p.m. Session 15A Split Dollar in Estate Planning: Finally! An Understandable, Memorable, and Immediately Useful Treatment Brad Bauer, Milwaukee, Wisconsin 2:30 p.m. Session 13B Fifteen Years of Sales to Grantor Trusts: Where are we now? Michael Mulligan, St. Louis, Missouri 3:20 p.m. Break 3:35 p.m. Session 14B Income Tax Results On The Sale Of Life Insurance Policy and Cancellation Of The Policy Mitchell Gans, Mineola, New York 4:25 p.m. Session 15B Stopping Will Contests Before They Start and Settling Fiduciary Disputes With Required Meduation and Arbitration. Jonathan G. Blattmachr, New York, New York 5:30 p.m. Adjournment

4 FACU Bradford P. Bauer maintains an insurance-related consulting practice in Milwaukee, Wisconsin. He was the Director of the Advanced Planning Division of Northwestern Mutual Life Insurance Company and drafted proposed insurance-related legislation for Wisconsin s legislature. He has lectured on insurance topics and prides himself on communicating complex topics simply. Prior to his estate planning career, he served in the US Air Force Strategic Air Command as a Minuteman Missile Combat commander. Edward J. Beckwith is with Baker Hostetler in Washington, D.C. He is a member of the American Law Institute and is a Fellow of the American Bar Foundation and ACTEC, where he was a Regent and State Chair for the District of Columbia. He is Chair of the ACTEC Philanthropy Study and Financial Management Committees and is President of the ACTEC Foundation. He founded the Georgetown University Law Center Advanced Estate Planning Institute, co-chairs the ALI-ABA annual program on Sophisticated Estate Planning Techniques and is an adjunct professor at the Georgetown University Law Center. James G. Blase is with Blase & Associates, St. Louis, Missouri and is an Adjunct Professor of estate planning at the St. Louis University School of Law. He is a frequent author and lecturer on a wide variety of tax and estate planning topics. Jonathan G. Blattmachr is a member (retired) of the New York, California and Alaska bars and is an ACTEC Fellow. He is co-developer of Wealth Transfer Planning, a computer system for lawyers that provides specific client advice and prepares documents through a document assembly system. He is currently with Eagle Rivers Advisors in New York, an insurance brokerage firm. In addition, he is director of estate planning for the Alaska Trust Company. He is author or co-author of five books and nearly 400 articles and is a frequent speaker at continuing education programs throughout the country. He is currently a licensed hunting and fishing guide in the Town of Southampton on Long Island. Professor F. Ladson Boyle is Charles Simon Professor of Federal Law Emeritus at the University of South Carolina, a Professor in the University of Alabama s LL.M. Program in Taxation and a former Adjunct Professor in the University of Miami's LL.M. Program in Estate Planning. His books include BLATTMACHR ON INCOME TAXATION OF ESTATES AND TRUSTS, 15TH EDITION (with Jonathan Blattmachr) and FEDERAL TAXATION OF ESTATES, TRUSTS AND GIFTS (with Ira Bloom, John Gaubatz and Lewis Solomon). He is currently a co-editor of the PROBATE PRACTICE REPORTER (with Alan Medlin and Howard Zaritsky) and has published numerous articles in law reviews and professional journals. Natalie Choate is with Nutter, McClennen & Fish, Boston, Massachusetts and is a fellow and former Regent of ACTEC (and former chair of its Employee Benefits Committee). Her practice is limited to consultations on estate planning for retirement benefits. Her two books, Life and Death Planning for Retirement Benefits and The QPRT Manual, are leading resources for estate planning professionals. In addition, she is a contributing author and co-editor of Drafting Wills and Trusts in Massachusetts and an editorial advisor for Trusts and Estates. Her articles have appeared in ACTEC Notes, Estate Planning, Trusts and Estates, Tax Practitioners Journal and Tax Management. She has lectured at the Notre Dame, University of Miami Heckerling and Southern Federal tax institutes, among others. Stacy Eastland joined Goldman, Sachs & Co. in 2000, working with private clients and their advisors, combining income tax and estate planning with financial planning. He was with Baker Botts, L.L.P. in Houston, Texas until He is a member of the International Academy of Estate and Trust Law; an ACTEC fellow (Regent for term); the ABA (Supervisory Council Member of the Real Property, Probate and Trust Law Section from ) and is a Texas Bar Foundation Fellow. He is a recipient of the AEP (Distinguished Accredited Estate Planner) award of the National Association of Estate Planners and Councils. Charles D. Skip Fox is with McGuire Woods LLP in Charlottesville, Virginia. He is currently an Adjunct Professor at the University of Virginia Law School and was an Adjunct Professor at Northwestern University School of Law from 1983 to He is an ACTEC fellow, Regent and Chair of its Communications Committee. He is Chair the Trusts & Investments Journal editorial board. He has presented papers at Notre Dame and the University of Miami Heckerling Institute on Estate Planning among others. In addition to publishing numerous articles, he has authored or co-authored five books on estate planning. Professor Mitchell M. Gans is a professor at the Hofstra University School of Law, Mineloa, New York, and is an adjunct professor at the NYU School of Law, teaching estate and gift tax. He is an ACTEC fellow and is the Academic Editor of the ACTEC Journal. He is the reporter for the advisory committee to the New York State legislature on the adoption of the Uniform Trust Code. He recently taught an eight-week course in estate and gift tax for the IRS Chief Counsel Office on behalf of NYU. Along with Jonathan Blattmachr, he is the author of The Circular 230 Deskbook and has published extensively. Steven B. Gorin is with Thompson Coburn LLP in St. Louis, Missouri. Prior to practicing law, he was a CPA for eight years. He is an ACTEC fellow, serving on its Business Planning Committee. He was past chair of the Business Planning Group of the ABA RPPT&E Section. He is a member of the Advisory Board of the Tax Management Estates, Gifts & Trusts Journal. He has published extensively and has appeared on numerous programs, speaking not only on estate planning, but income tax planning topics. David Handler is with Kirkland & Ellis, Chicago, Illinois and is a member of ACTEC. He writes a monthly column for Trusts & Estates magazine and is co-author of Drafting the Estate Plan: Law and Forms (CCH). He has published numerous articles and has presented papers at national programs, including Notre Dame, NYU and the University of Miami Heckerling Institute on Estate Planning. Professor David Herzig is a professor at Valparaiso School of Law, Valparaiso, Indiana. Prior to entering the teaching profession, he practiced estate planning and taxation with Greenberg Traurig in Miami, Florida and with a large law firm in Louisville, Kentucky. He has published law review articles and chapters in estate planning books and teaches courses in Federal Income Taxation, Corporate and Partnership Taxation, Estate and Gift Taxation, Trusts and Estates, and Tax Policy. Jerome M. Hesch is with Carlton Fields LP in Miami, Florida. He is a co-author of a law school casebook on Federal Income Taxation, now in its fourth edition and is an adjunct professor at the Florida International University, St. Thomas University and the University of Miami law schools. He was with the IRS Office of Chief Counsel from 1970 to 1975, and was a full-time law professor from 1975 to 1994, teaching at the University of Miami and the Albany Law School, Union University. Marvin D. Hills is with Crowe Horwath, CPAs in South Bend Indiana and is the Partner-in-Charge of the Private Client Services Division. He is a frequent speaker on estate planning and fiduciary income taxation topics for programs such as the AICPA, the Notre Dame Tax and Estate Planning Institute and the American Bankers Association. He has written articles for The Tax Adviser, Hoosier Banker, TAXES-The Tax Magazine and other journals.

5 LTY Jerold I. Horn practices in Peoria, Illinois. He is a past President and current Fellow of ACTEC, a Fellow of the American College of Tax Counsel, an Academician International Academy of Estate and Trust Law, a member of the American Law Institute and formerly taught as a visiting adjunct professor in the University of Miami Graduate Program in Estate Planning. He has published numerous articles and books. His most recent book is Flexible Trusts for Uncertain Times, 4th Edition (2010). He has appeared on the Notre Dame, University of Miami Heckerling Institute and similar programs. Judge Laurel Myerson Isicoff, a bankruptcy judge for the Southern District of Florida, took office in In private practice, she specialized in commercial bankruptcy, foreclosures and workouts, both as a transactional lawyer and as a litigator and was a registered bankruptcy mediator. Prior to her judicial appointment, she served as President of the Southern District of Florida Bankruptcy Bar Association, was the chair of its Pro Bono Task Force and taught in the Bankruptcy Assistance Clinic at the St. Thomas University Law School. She is currently a director of the American College of Bankruptcy Foundation and continues to speak on bankruptcy and pro bono service topics around the country. Avi Z. Kestenbaum is with Meltzer, Lippe, Goldstein & Breitstone, LLP in Mineola, NY, focusing on domestic and international estate planning, asset preservation and tax-exempt organizations. He is an adjunct Professor at Hofstra University School of Law and the Baruch College MBA Program. He has authored numerous articles in national estate planning and tax journals and lectures frequently on a diverse variety of topics, most recently for an ABA national webinar. Jerry J. McCoy, an independent attorney in Washington, D.C., specializes in charitable planning, tax-exempt organizations and estate planning. He is a member of the American Law Institute, ACTEC and the American College of Tax Counsel. He is a frequent presenter at planned giving, tax and estate planning programs and is an adjunct professor for the Georgetown University Law Center and the University of Miami Graduate Program in Estate Planning. He is the Co-Editor of Charitable Gift Planning News, and Family Foundation Advisor. And, he is co-author of The Family Foundation Handbook (CCH 2010). Michael D. Mulligan is with Lewis, Rice & Fingersh, L.C., St. Louis, Missouri, where he is co-chair of the Estate Planning Department, and is an ACTEC fellow. He was a law clerk to the Hon. William H. Webster, subsequently Director of the FBI and the CIA. He has published articles in tax and other professional journals and has appeared on numerous programs, including the University of Miami Heckerling Institute on Estate Planning. He is a member of the Editorial Board of Estate Planning and the Advisory Board of the Tax Management Estates, Gifts and Trusts Journal. Barry A. Nelson is with Nelson & Nelson, P.A. in North Miami Beach, Florida. Mr. Nelson is an ACTEC fellow and is the founder and Chair of its Asset Protection Committee. He has presented at the University of Miami Heckerling Institute on Estate Planning, the Notre Dame Tax and Estate Planning Institute, the Southern Federal Tax Institute and many other programs. He was an adjunct professor for the University of Miami School of Law from He has published extensively, especially in the area of asset protection. As the father of a child with autism, Mr. Nelson combines his legal skills with compassion and understanding in the preparation of Special Needs Trusts for children with disabilities. Richard Oshins is with Oshins & Associates in Las Vegas, Nevada. Prior to moving to Las Vegas in the mid 1970s, he held a judicial clerkship for the U.S. Court of Claims and was in the Office of Tax Legislative Counsel of the U.S. Treasury. He is currently on the Advisory Board of the NYU Institute on Federal Taxation and is the chair of its Estate Planning program. He is on the editorial board for Estate Planning and is a member of the CCH Advisory Board. In addition to publishing numerous articles and presenting at programs around the country, he publishes the Practitioner s Strategies column for the CCH Estate Planning Expert Library. Professor Jeffrey Pennell holds an endowed chair at Emory University School of Law in Atlanta, Georgia, is a member of the American Law Institute, is an Adviser for the Restatements of Wills and Other Donative Transfers, is an Academic Fellow and Former Regent of ACTEC and is an Academician of The International Academy of Estate and Trust Law. His numerous publications include law school casebooks, practitioner texts, Tax Management portfolios, articles, institute chapters, and he is the successor author of Casner & Pennell on ESTATE PLANNING (6th ed.). John W. Porter is with Baker Botts, LLP in Houston, Texas. He is a Regent and Fellow of ACTEC and former Chair of the ABA/RPPTL Tax Litigation and Controversy Committee. He primarily handles tax litigation and controversy work with the IRS, especially involving hard-to-value assets. He has appeared as a speaker at programs throughout the country. Gideon Rothschild is with Moses & Singer LLP, and co-chairs its Trusts & Estates and Wealth Preservation Group. He co-authored the BNA Tax Management portfolio on Asset Protection Planning and authored numerous articles on asset protection and estate planning subjects. He is an ACTEC Fellow and an Academician of The International Academy of Trust and Estate Lawyers. He is on the editorial Advisory Boards of Tax Management Estate, Gifts & Trust Journal and Trusts and Estates. He is an Adjunct Professor at the University of Miami Graduate Program in Estate Planning and lectures frequently to groups such as the University of Miami Heckerling Institute and the NYU Federal Tax Institute Joshua S. Rubenstein is with Katten Muchin Rosenman LLP in New York, NY. He is a Fellow and Regent of ACTEC and is Treasurer of the International Academy of Estates and Trusts Law. He was the Past Chair of the International Committee of the ABA and of its Trust and Estates Law Section. He is on the Editorial Board for Warren's Heaton, is on the NY Surrogate's Court Advisory Committee and is author of LexisNexis Answer Guide, New York Surrogate s Court. Todd Steinberg is with Greenberg Traurig, LLP in McLean, Virginia, focusing on integrating sophisticated estate and income tax planning, and has a particular expertise in planning with life insurance products and the income tax and financial impact of premium financing. In this role, he is retained as special counsel to life insurance professionals. He has spoken at the 42nd Annual Heckerling Institute, lecturing on Section 453, OID, Earnouts and Other Contingent Payments - What s This Got to do With Estate Planning? He has published articles in the Tax Management Estates, Gifts & Trusts Journal and other journals. He is admitted in Virginia, Maryland and D.C. Aen Webster is with Buchanan, Ingersoll & Rooney in Washington, D.C. She is the editor-in chief of the Tax Management Estates, Gifts & Trust Journal and the Tax Management Portfolio series for Federal transfer taxes. She is the CLE chair for RPP&TL section of the ABA and is an adjunct professor at the Kogod School of Business, American University. Diana S.C. Zeydel is with Greenberg Traurig, P.A., in Miami, Florida. She is a Fellow and Regent of ACTEC and Chairs its Estate & Gift Tax Committee. Diana is a frequent lecturer on estate planning topics and has published numerous articles on a wide variety of topics. She is the co-author of the Tax Management Portfolio on Chapter 14 and has presented papers at Notre Dame, Southern Federal and the University of Miami Heckerling Institute on Estate Planning.

6 PROGRAM LOCATION The Institute will be held at South Bend s Century Center on the banks of St. Joseph River in downtown South Bend, Indiana, at 120 South St. Joseph Street. South Bend uses Eastern Daylight Time (same as New York City) Continuing Education Certification For those attendees desiring certification of the attendance at the program, the Institute will provide attendance cards and will issue certificates of attendance. The program will afford actual hours of continuing education, including 2.00 hours of ethics. Each continuing education accrediting agency determines the number of hours it will accept for accreditation. Registration The fee for the Institute is $ if paid in advance (refundable if written notice of cancellation is received not later than October 15, 2010 by the Notre Dame Conference Center, 115 McKenna Hall, Notre Dame, Indiana 46556), and $ if paid at the time of the Institute. Single day registration is $ (or $ at the door.) The fee includes the continental breakfasts, refreshments, luncheons, the reception following the program on Thursday, and the lecture outlines. Questions? Telephone (574) ; FAX (574) ; , [email protected]. Audio CDs and Lecture Outlines Audio CDs and lecture outlines may be ordered for $ by writing the Notre Dame Conference Center, 115 McKenna Hall, Notre Dame, Indiana Lecture outlines alone may be ordered for $ (and will be filled at the conclusion of the program based on availability). Confirmations Confirmations will be ed. Football Game We regret that the Institute cannot supply tickets to the Notre Dame - Tulsa game which follows the Institute on Saturday, October 30, Lodging Limited lodging is available at group rates. Contact the hotels directly and ask for the Institute's group block rate. For lodging assistance and alternatives, call (the Convention Bureau). Note: Conference registration is required for hotel group rates. Downtown Marriott Hotel ($99) Ramada Plaza ($90) Residence Inn ($109) Suburban (North) Fairfield Inn ($109/$129) & Suites Inn at St. Mary's ($99) Jameson Inn ($69.99) ($ plus tax for Fri., Sat.) Quality Inn ($64.99) University Area University Mall (Mishawaka) Varsity Club ($89) Residence Inn ($119) Online Registration Available

7 REGISTRATION FORM Thirty-sixth Annual Notre Dame Tax & Estate Planning Institute Online Registration Make checks payable to: University of Notre Dame Refundable in full if written notice is received on or before October 15, Mail to: Notre Dame Conference Center, 115 McKenna Hall, Notre Dame, Indiana I plan to attend and enclose the $ fee ($ at the door). Fee includes continental breakfasts, luncheons, reception, and lecture outlines. Single Day Registration - $ ($ at the door) Indicate Date: Thur. Fri. Concurrent Sessions -- Pre-registration required: Thursday, October 28th, (indicate choice): 9:25-11:25 am IRA's (2A) 9:25-11:25 am Charitable Trust Planning In Depth (2B) Concurrent Sessions -- Pre-registration required: Friday, October 29th, (indicate choice): 9:15-11:15 am Asset Protection Planning (9A) 9:15-11:15 am Choice of Grantor Trusts (9B) 11:40-12:30 pm IRA's (3A) 11:40-12:30 pm Charitable Trust Planning In Depth (3B) 12:30-1:45 pm Thursday Luncheon - no speaker Yes No 1:30-2:45 pm Drafting for Repeal, Restoration (4A) 1:30-2:45 pm Income Tax Exit Strategies (4B) 3:00-3:50 pm Trusts: Income Shifting (5A) 3:00-3:50 pm Carryover Basis (5B) 3:50-4:40 pm Planned Giving for Art Collectors (6A) 3:50-4:40 pm Death of a FLP Partner (6B) 4:40-5:30 pm GRAT Ideas (7A) 4:40-5:30 pm Risk Assessment (7B) IMPORTANT: Our mailing lists are being revised. I cannot attend this year, but please keep me on your mailing list. Please send this form to the Notre Dame Conference Center at the above address. Please notify us of subsequent address changes. 11:30-12:30 pm Effective Use of Formula Clauses (10A) 11:30-12:30 pm The BDIT (10B) 12:30-1:30 pm Luncheon The State of The Profession!! (11A) Luncheon (no speaker) 1:30-2:30 pm Installment Sales to Grantor Trusts (12 A/B) 2:30-3:20 pm Planning That Can Be Done in 2010 (13A) 2:30-3:20 pm Fifteen Years of Sales to Grantor Trusts (13B) 3:35-4:25 pm Construing Wills and Trusts (14A) 3:35-4:25 pm Income Tax Results (14B) 4:25-5:30 pm Split Dollar Basics 15(A) 4:25-5:30 pm Stopping Will Contests Before They Start (15B) Program will be modified to fully reflect any legislative developments affecting the estate tax. Make check payable to: University of Notre Dame Name Firm Address City/State/Zip Phone( ) FAX( ) Atty CPA Bank Life Ins. Other optional: Soc. Sec.# Lic.# Thanks to our sponsors Premium Northern Trust Company Stout Risius Ross, Inc. Platinum Wells Fargo The Private Bank Christie s Fidelity Charitable Services Gold South Dakota Trust Company Trusts and Estates

8 Thirty-sixth Annual Notre Dame Tax & Estate Planning Institute INSTITUTE CHAIRPERSON Jerome M. Hesch ADVISORS TO THE INSTITUTE Jonathan G. Blattmachr Professor Jeffrey N. Pennell Aen Webster CONSULTANTS Mary Ann Boulac, Esq. Charles T. Morse, CLU Richard B. Urda, Jr., Esq. CENTURY CENTER South Bend, Indiana October 28-29, 2010 University of Notre Dame Notre Dame, Indiana 46556