Detailed Agenda

40th Annual Duke Estate Planning Conference – October 11-12, 2018

 

Thursday, October 11, 2018

Registration & Continental Breakfast

7:00 am – 8:15 am

Welcome & Opening Remarks

8:15 am – 8:30 am

Estate Planning Recent Developments: The Good, the Bad, and the Ugly

8:30 am – 9:30 am

Stephen R. Akers, Bessemer Trust and Beth Shapiro Kaufman, Caplin & Drysdale

The presentation will address interesting estate planning recent developments that likely will include developments related to the 2017 Tax Act, including regulations and other positions adopted by the IRS.   Various issues of current interest to estate planning professionals will also be addressed, including interesting case law developments and developments with Uniform Acts for state legislative considerations.

Break

9:30 am – 9:40 am

Estate Planning Recent Developments: Planning Ideas to Die For (Preferably Before 2026)

9:40 am – 10:40 am

Stephen R. Akers, Bessemer Trust and Beth Shapiro Kaufman, Caplin & Drysdale

The recent developments presentation will continue with a focus on the 2017 Tax Act.  Planning ideas that take advantage of the increase in exemption under the new Act will be discussed, and crystal balls will be consulted regarding what the future holds

Break

10:40 am – 10:50 am

Planning for Beneficiaries with Special Needs

10:50 am – 11:50 am

Kristen M. Lewis, Smith, Gambrell & Russell, LLP

Securing the future of a person with a disability is fraught with peril. Many of the programs and services that families want to access for their loved ones with disabilities are simply not available on a private pay basis. Proper Special Needs Estate Planning involves a “network” of Special Needs Trust and a team of “allied professionals”. Learn how to avoid the most common pitfalls in this complex area.

Lunch

11:50 am – 1:00 pm

Do Trusts Really Create Trust Fund Babies?

1:00 pm – 2:00 pm

Thomas W. Abendroth, Schiff Hardin LLP

The label “trust fund baby” is almost always used as a pejorative. It also implies that trusts are the underlying cause of spoiled trust beneficiaries. In fact the scholarly literature points to other causes, chief among them the failure in families to communicate and educate. Yet, trust professionals must acknowledge that trusts can contribute to the problem. This presentation will explore these issues, provide suggestions on structuring trusts that will be positive rather than negative influences, and comment on the emerging concept of “silent trusts” and their impact.

Break

2:00 pm – 2:10 pm

I Want a “Do-Over”: 9100 Relief for Missed Tax Elections

2:10 pm – 3:10 pm

Douglas L. Siegler, Venable LLP

The Internal Revenue Code and the voluminous Treasury Regulations contain hundreds of elections and other provisions falling within the broad ambit of “applications for relief in respect of tax.” Given the complexity of some of these elections, the frequent absence of relevant authority for their application, and the confusion often found in the applicable forms on which the elections and applications for relief must be made, it is little wonder that the failure to make required elections in a timely and accurate manner is becoming more and more common. Under certain circumstances, so-called “9100 Relief” allows extensions of time within which to make such elections and applications for relief in respect of tax.

Break

3:10 pm – 3:20 p

Drafting Powers of Attorney under the New Uniform Act

3:20 pm – 4:20 pm

Elizabeth K. Arias, Womble Bond Dickson and James P. Cox, III, MichieHamlett, PLLC

 The presentation will concentrate on the recently enacted North Carolina Uniform Power of Attorney Act with an emphasis on the changes the law makes on existing agency law.   The presentation will also provide the perspective of how this Uniform Law has affected the practice in Virginia since it adoption of the Uniform Law in 2010.

Estate Planning Survival

4:20 pm – 5:20 pm

Anne M. McKinney, McKinney & Tillman, P.C. and Jeffrey A. Zaluda, Horwood Marcus & Berk

 How can you grow your estate-planning practice in a time of sky-high death tax exemptions and do-it-yourself internet documents?  Attorneys Jeff Zaluda and Anne McKinney — one from a large, multi-specialty Chicago firm, the other from a boutique firm in a scrappy Southern town —share their top tips, techniques and strategies for marketing estate planning services in this rapidly changing environment.

Friday, October 12, 2018

Continental Breakfast

8:00 am – 8:30 am

Review of the Past Year’s Significant, Curious, or Downright Fascinating Fiduciary Cases

8:30 am – 9:30 am

Dana G. Fitzsimons, Jr., Bessemer Trust

This session will review recent cases from across the country to assist fiduciaries and their advisors in identifying and managing contemporary challenges.

Break

9:30 am – 9:40 am

Basis for Comparison: How Income Tax Management Is Changing the Face of Estate Planning

9:40 am – 10:40 am

Thomas J. Pauloski, Bernstein Private Wealth Management

Just over three years ago, Congress surprised the estate planning world by passing the American Taxpayer Relief Act of 2012 (ATRA), which profoundly affected the way that tax professionals advise their clients. In this presentation, Tom Pauloski, National Managing Director of Bernstein’s Wealth Planning and Analysis Group and a former estate planning attorney, will describe how ATRA has changed the face of estate planning, focusing his remarks on how income tax basis may be created, destroyed, and shifted among family members and entities. Particular emphasis will be placed on how the income tax rules governing partnerships (Subchapter K) may be harnessed to achieve specific tax planning objectives.

Break                                                                                                                                                                 

10:40 am – 10:50 am

Charitable Potpourri

10:50 am – 11:50 am

Douglas W. Benson, Foundation For The Carolinas, Phillip H. Buchanan, Duke University and Donald M. Etheridge, Jr., National Christian Foundation

An overview of charitable gift techniques, impact of the Tax Cuts and Jobs Act of 2017 on charitable gifts and examples.

Lunch

11:50 am – 1:00 pm

Post-Mortem Administration Issues and How to Prevent Them

1:00 pm – 2:00 pm

Amy G. Doehring and Nicole K. Mann, McDermott Will & Emery

This program will include a “post-mortem” review of both real and hypothetical cases in which significant problems surfaced during estate administration.  We will examine those post-death administrative nightmares to advise what, if any, preventative measures could have been taken at the estate planning stage to avoid the later problems.

Break

2:00 pm – 2:10 pm

Know Thy IRA Custodian—So You Can Better Serve Your Clients

2:10 pm – 3:10 pm

Svetlana V. Bekman, Northern Trust Company

Drawing on her experience supporting IRA administration at a major financial institution, Svetlana Bekman will address several common areas of miscommunication and misunderstanding between IRA owners and IRA custodians.  She will explain why the IRA custodians sometimes say “no” and how you and your clients can turn a “no” into a “yes.”

Ethical Considerations in Working with Closely Held Businesses

3:10 pm – 4:10 pm

Charles D. Fox IV, McGuireWoods LLP and Mary F. Radford, Georgia State University College of Law

This session will examine the ethical considerations that arise in the creation, operation, governance and sale of family and other closely held businesses.  Among the areas to be covered are competence, confidentiality among owners and family members, conflicts of interests and who is the client, end of the representation, acting as a director or officer, dealing with unrepresented parties, and cross-border issues.