Recorded Event: 58th Annual Program: Short Course on Estate Planning

Overview

Conference Co-Chairs

Michael V. Bourland
Bourland, Wall & Wenzel, P.C.

Darin N. Digby
Schoenbaum, Curphy & Scanlan, P.C.

Faculty

Stephen R. Akers
Bessemer Trust Company

Dr. Gerry W. Beyer
Texas Tech University School of Law

Kristin L. Brown
Davis Stephenson PLLC

Mickey R. Davis
Davis & Willms, PLLC

Assistant Professor Eric Reis
UNT Dallas College of Law

John K. Round
Steptoe & Johnson PLLC

Megan C. Sanders
Bourland, Wall & Wenzel, P.C.

Melissa J. Willms
Davis & Willms, PLLC

Tuition

Recorded Program Fee – Includes online access to the program materials and videos.

Multiple Registrants from the same organization: Please contact Krishonne for special pricing for tuition levels $650 and higher - kjohnson@cailaw.org or 972.244.3403.

• $1100- Regular Registration Fee
• $850 – Full-time U.S. Government Employee
• $850 – Full-time U.S. Non-Profit Employee
• $850 – Full-time U.S. Academic Employee
• $600 - Attorneys, CFPs, CPAs, Paralegals, Trust Officers, and Others Licensed/Employed 3 Years or Less in This Practice Area

Schedule and Faculty

BASIC PRINCIPLES AND STRATEGIES IN ESTATE PLANNING

Basic testamentary tax planning, including bypass trust planning for married couples and generation-skipping planning. Balancing between securing estate tax benefits and obtaining a step-up in basis for appreciated assets. Use of ascertainable standards and powers of appointment to implement client wishes in a tax-efficient way.

• Professor Eric Reis, UNT Dallas College of Law, Dallas, Texas

MARITAL DEDUCTION PLANNING & PORTABILITY

Basic Strategies and current problem areas in estate planning for spouses, QTIP trusts and the QTIP election, drafting problems and their solutions. Analysis of types of marital deduction formula clauses (true worth, minimum worth, fairly representative) and advantages and disadvantages of each, discussion of fractional share clauses and comparison with pecuniary formulas. How portability has impacted marital deduction planning and its problems and benefits.

• Kristin L. Brown, Davis Stephenson PLLC, Dallas, Texas

IRREVOCABLE TRUSTS WITH EMPHASIS ON LIFE INSURANCE PLANNING

Review of income, gift, and estate taxation of life insurance, use of irrevocable life insurance trusts to provide estate liquidity and to solve other common (and not so common) problems, “Crummey” clauses and the advantages and disadvantages of each, problems with poorly administered “Crummey” trusts and solutions to those trusts.

• John K. Round, Steptoe & Johnson PLLC, Plano, Texas

TRANSFER PLANNING

Lifetime estate planning transfers, especially transfers of property over which the donor wishes to maintain some control, including points to consider in designing donor-trusteed irrevocable trusts; practical planning ideas for removing appreciation from the estate by using GRATs and Intentionally Defective Grantor Trusts.

• Darin N. Digby, Schoenbaum, Curphy & Scanlan, P.C., San Antonio, Texas

ANTICIPATING WILL CONTESTS AND HOW TO AVOID THEM

This presentation focuses on when will contests are likely to occur and 18 steps an estate planner may wish to consider to reduce the likelihood of a contest or enhance the chance of winning one should it occur.

• Dr. Gerry W. Beyer, Governor Preston E. Smith Regents Professor of Law, Texas Tech University School of Law, Lubbock, Texas

ESTATE PLANNING ETHICS

Ethical issues and conflict of interest concerns in estate planning for multiple members of the same family, as well as for the family’s business interests; conflict of interest and confidentiality problems in planning for spouses, siblings, and other family members; client conflict letters and other documentation; malpractice concerns; quality control procedures; privity issues.

• Michael V. Bourland, Bourland, Wall & Wenzel, P.C., Fort Worth, Texas
• Darin N. Digby, Schoenbaum, Curphy & Scanlan, P.C., San Antonio, Texas

INCOME TAXATION OF TRUSTS AND ESTATES

Explore how income tax rules for individuals differ from those applicable to trusts and estates and how those rules can affect an estate plan, including strategies to implement. Learn the obligations of fiduciaries that arise as a result of someone’s death and how death creates unique income tax issues such as basis adjustment. Explore complex issues that estate planners need to know to help fiduciaries avoid income tax traps they may encounter when administering trusts and estates. Discover how language in governing documents and steps taken during administration can minimize unexpected income tax liabilities and secure special income tax planning benefits for decedents, trusts, and estates.

• Mickey R. Davis, Davis & Willms, PLLC, Houston, Texas
• Melissa J. Willms, Davis & Willms, PLLC, Houston, Texas

PRIMER ON CHARITABLE PLANNING

America is the most charitable nation in the world. To aid the American philanthropic spirit, the Federal government provides certain tax incentives for donors. This presentation provides basic income, estate, gift and generation skipping transfer tax knowledge to equip practitioners to guide their clients in advantageously integrating charitable gift planning with estate planning.

• Megan C. Sanders, Bourland, Wall & Wenzel, P.C., Fort Worth, Texas

PLANNING FOR THE FAMILY BUSINESS, INCLUDING FAMILY LIMITED PARTNERSHIPS (FLPS); WORKING WITH A CLIENT CLOSING A BUSINESS ENTITY

Estate and succession planning for a family business and its owners; ascertaining family attitudes toward wealth and the family business; development of planning objectives; determining whether a business should be sold or kept in the family; tax and non-tax advantages of family limited partnerships; checklist of planning alternatives; preparing the family business for sale.

• Mr. Bourland

INTESTATE SUCCESSION: WHAT EVERY TEXAS ESTATE PLANNER NEEDS TO KNOW

The ability to specify the new owners of property upon death is an important and powerful privilege that each state grants to its citizens. However, only about 25% of individuals take advantage of this privilege and thus you will often be dealing with the estates of intestate decedents. This presentation discusses why this is the case, what happens to property under Texas intestacy statutes, the determination of potential heirs, and an assortment of other issues that arise in intestate situations.

• Dr. Beyer

HOT TOPICS IN ESTATE PLANNING

A discussion of estate planning current developments that are of practical importance to estate planning practices.

• Stephen R. Akers, Bessemer Trust Company, Dallas, Texas

GIFTING TECHNIQUES, THE GENERATION-SKIPPING TRANSFER TAX & POST-MORTEM PLANNING

What you need to know about the GST tax; how to make efficient use of GST exemption allocations; application and implementation of the various GST severance rules and late allocation rules; and an overview of some gifting techniques that incorporate basic GST tax planning considerations and strategies. We’ll conclude with an overview of tax planning issues to consider in administering estates, including disclaimers and selected income tax and estate tax issues.

• Mr. Digby

FIDUCIARY SELECTION

Your clients must exercise great care in selecting executors, trustees, agents, and other fiduciaries. These decisions may affect the client and the client’s family members for many years to come. As one commentator insightfully declared, “No decision is more critical than the selection of executors and trustees.” Decisions regarding the appropriate persons to select are, naturally, for your clients to make. However, you have a duty to explain to your clients the factors they should consider before making designations in their wills, trusts, powers of attorney, and other documents. This presentation discusses the characteristics a fiduciary should have as well as other issues such as whether co-fiduciaries are desirable and whether an individual or corporate fiduciary is preferred.

• Dr. Beyer

ESTATE PLANNING FOR CYBER PROPERTY: ELECTRONIC COMMUNICATIONS, NON-FUNGIBLE TOKENS, CRYPTOCURRENCY, AND THE METAVERSE

An overview of the characteristics of these “modern” assets and how to account for them when planning a client’s estate.

• Dr. Beyer

Texas CLE Credit

Testimonials

2023 Conference Attendees (In-Person Event)—a few general comments including what they liked best:

Other Information

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