Thursday, November 9
8:00 AM - 8:10 AM    Opening Remarks
8:10 AM - 9:10 AM    D.C. Update: Outlook for Changes in the Tax Law Ten Months into the Trump Administration

This presentation will discuss the current status of tax reform, including an update on whether the federal estate tax will be repealed, is really permanent, or something else.  It will also discuss other pending legislative and administrative changes, including regulations affecting consistent basis and valuation discounts.

9:10 AM - 10:10 AM    The Top Ten Ethical Challenges Confronting Estate Planning Professionals

This session will review the top ten ethical challenges facing estate planning professionals. Among the areas to be covered are competence, timeliness of work, communications, conflict issues, cross-border practice, fees, and clients with diminished capacity.

10:10 AM - 10:35 AM    Break
10:35 AM - 12:05 PM    Planning for Privacy in a Public World

As public access to information increases, clients are seeking solutions to secure their privacy and personal security. This panel will discuss how the professional advisor can structure estate plans, charitable gifts, and financial transactions in a confidential manner and protect clients against physical and cyber-attacks.

12:05 PM - 1:00 PM    Lunch
1:00 PM - 3:00 PM    Federal Tax Update

The perfect post-lunch nap, this session will cover important federal income, estate, and gift tax cases, rulings, regulations, and (hopefully) legislation from the past 12 months of interest to estate planners.

3:00 PM - 3:25 PM    Break
3:25 PM - 4:25 PM    Asset Protection Strategies and Recent Developments

This presentation will focus on the practical considerations for asset protection planning and provide an update on recent case law and statutory developments in the practice area.

Topics will include marital property planning, exempt asset planning, entity formation and structuring, third-party settled and self-settled trusts, forum shopping, and drafting tips. Participants can expect an overview of both domestic and offshore jurisdictions with a practitioner's insight offered throughout.

4:25 PM - 5:25 PM    Charitable Bequests of Retirement Assets: Strategies, Traps, and Solutions

This session will examine various techniques for including charity in the disposition of qualified retirement plan assets. Topics will include restrictions on lifetime charitable gifts from IRAs; challenges when there are both charitable and non-charitable beneficiaries of retirement accounts; when an estate or trust can claim a charitable income tax deduction if charitable bequests are paid with taxable IRD; problems and solutions for pecuniary charitable bequests; how a tax-exempt two-generation CRT can solve estate planning challenges in second marriages (and also if Congress requires inherited IRAs to be liquidated in just five years); and how retirement plans may play a role in a charity’s planned giving marketing.

 Friday, November 10
8:00 AM - 8:05 AM    Housekeeping Remarks / Introductions
8:05 AM - 9:05 AM    Washington Probate and Trust Law Update

This presentation will review recent Washington probate and trust legislation, as well as survey recent Washington case law decisions of interest to practitioners in the trusts and estates field, with an emphasis on practical lessons to be learned from these cases.

9:05 AM - 10:05 AM    Uses for Life Insurance: Beyond Taxes

Whether we have federal estate tax repeal or not, the truth is that, with exemption amounts as high as they are, most practitioners don’t need to use life insurance to cover estate tax liabilities.  This presentation will look at the different types of life insurance products: their definitions and uses and the most effective ways to analyze them.  It will discuss some more sophisticated uses for life insurance.  Most of all, this presentation will focus on the most important use for life insurance: providing liquidity when it’s most needed.

10:05 AM - 10:30 AM    Break
10:30 AM - 11:30 AM    Avoiding the Knot: Estate and Tax Planning for Unmarried Couples

Couples who choose not to marry forego property rights, health insurance, tax benefits and inheritance rights. This presentation will explore the income and gift tax implications raised in a non-marital relationship, and will suggest some estate planning techniques that can uniquely benefit the unmarried couple.

11:30 AM - 12:30 PM    Making Estate Planning Great Again: Trumping Uncertainty with Ideas that Make Sense in Any Environment

Tom Pauloski, National Managing Director of Bernstein’s Wealth Planning and Analysis Group, will lead a discussion that addresses the valuation discount controversy, key elements of President-Elect Trump’s tax proposals (including repeal of the estate and gift taxes), the obstacles that he may face getting those proposals enacted, and most importantly, the “all-weather” planning strategies that make the most sense during this period of legislative uncertainty. Tom will use the case study format and sophisticated wealth forecasting software to highlight key findings.

12:30 PM - 1:30 PM    Lunch
1:30 PM - 2:30 PM    What Do Life Insurance Policy Valuations and Funny Mirrors at the Fair Have in Common?

Most practitioners recognize the importance of establishing an asset’s value when evaluating the tax implications of an ownership change, either by gift or a compensatory situation, or calculating the value in one’s gross estate. So what about life insurance policies? Unfortunately, the ability to value a life insurance policy is far from simple since most professionals look for guidance from a set of rules last updated over 40 years ago under the gift and estate regulations (at a time when only yearly renewable term and whole life insurance products existed). Of course, the world and products have changed and the rules set forth under the regulations can yield very surprising results – must like looking into a funny mirror at the county fair. This session will review the various regulations on valuing a life insurance policy, why they cannot be applied to most life insurance policies in force today, how the courts have looked at this issue and how you, as a practitioner, should approach this complex and confusing problem when it arises.

1:30 PM - 2:30 PM    A Potpourri of Post-Mortem Planning

The presentation will cover a collection of diverse topics for consideration in post-mortem trust and estate administrations, with a focus on those that provide value to the beneficiaries through income tax opportunities, state and federal estate tax reduction, and creative options for distribution planning.  

1:30 PM - 2:30 PM    Navigating the Curves and Potholes on the Highway to Basis Consistency

Congress has recently imposed new reporting requirements on certain executors and estate beneficiaries in an effort to ensure basis consistency for inherited property. This presentation will provide an overview of the basis consistency rules, tips for completing Form 8971 and reporting values on related Schedule A, and suggestions on steps to take during estate administration to reduce this new reporting burden.

2:40 PM - 3:40 PM    Oregon Update: Cases and Legislation

Oregon courts continue to keep things interesting for estate planners. The cases provide practice tips and remind us why people should always hire a lawyer to do their estate planning. The legislature enacted another probate bill, revising some of the administrative provisions. We will talk about this bill and the one coming next spring.

2:40 PM - 3:40 PM    The Fiduciary Income Tax

As the federal estate tax exemption has risen, and income tax rates have increased, income tax issues have become more important for estates and trusts.  This presentation will provide an overview of the federal fiduciary income tax, with extensive written materials.  Topics to be covered include managing estate and trust assets to minimize income taxes, using administration expenses to best advantage, and the timing of distributions to reduce income tax consequences.  

2:40 PM - 3:40 PM    A Complete Guide to Directed Trusts: What? Why? Where? How?

This presentation will describe directed trusts and common uses for them.  The presentation will then discuss different statutory approaches to directed trusts and how to draft and administer them to effectively bifurcate trustee functions.

3:40 PM - 4:00 PM    Break
4:00 PM - 5:00 PM    Alcohol, Guns and Cannabis: Planning with Regulated Assets

Clients need to understand that there are complicated fiduciary responsibilities inherent in administering highly regulated assets such as alcohol beverages, cannabis and guns.  Is it legal for the fiduciary to even take possession?  Is a beneficiary eligible to take possession?  If not, can it be sold after the death of the testator? Fiduciaries have a responsibility to reasonably diversify trust assets.  An estate plan may need to specifically authorize the fiduciary to retain regulated assets, and provide very clear instructions as to how they should be handled.  A will or trust may indemnify the trustee with respect to regulated assets, but will that be respected by state and local law enforcement agencies.  The fiduciary may have little or no experience with handling a regulated asset, they may have moral issues with doing so, and they may not even recognize the inherent value.  Fiduciaries, their attorneys and their other advisors can easily make expensive, potentially illegal mistakes concerning the administration and transfer of regulated assets. This presentation will examine these issues and more. 


4:00 PM - 5:00 PM    The Psychology of Giving: Why People Give, Why They Don't, and How to Encourage More and Larger Gifts

This commentary will help you understand why people don’t give to charity – and why they do (and how to get them to give much more). It will cover the role of income and wealth, gender, race, and occupation on giving. 23 factors that thwart or diminish giving and almost 40 motivators to giving will be explained.  You’ll be provided with powerful questions you can use that will help you help others take their first big steps toward planned giving – or continue their strong uphill climb on the Philanthropic Journey.

4:00 PM - 5:00 PM    No Good Deed Goes Unpunished: Ethical and Liability Concerns for Lawyers’ Service on Charitable Boards and Other Conflicts with a Lawyer's Personal Charitable Interests

Lawyers frequently serve on boards of nonprofit organizations that they care about, because board service is a way to use the lawyer’s particular skills in furthering the lawyer’s favored causes.  Lawyers are often involved with nonprofit organizations in other capacities as well, such as serving as volunteers or being active members of a religious congregation.  While such activities should be encouraged, the rules of professional conduct as well as potential liability can present pitfalls for lawyer volunteers that lay volunteers do not face.  This presentation will use several fact patterns to illustrate the areas where the lawyer needs to exercise caution, such as when a client wants to make large gifts to the lawyer’s favorite charity, or whether your personal  involvement with a charity would preclude your firm from representing a person contesting a  will that benefits your charity.  

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