59th Short Course on Estate Planning

BASIC PRINCIPLES AND STRATEGIES IN ESTATE PLANNING, INCLUDING MARITAL DEDUCTION & PORTABILITY PLANNING

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

• Eric Reis, Assistant Professor of Law, UNT Dallas College of Law, Dallas, TX

MARITAL PROPERTY ISSUES IN ESTATE PLANNING

This session will include a review of the community property laws of the State of Texas with special emphasis on their impact on estate planning and estate administration. Traps for the unwary and planning opportunities for both married clients and their beneficiaries will be discussed.

• Tom Featherston, Professor of Law, Baylor University Law School, Waco, TX

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, TX

ANTICIPATING WILL CONTESTS AND HOW TO AVOID THEM

An estate planner must always be on guard when preparing instruments which may supply incentive for someone to contest a will. Prof. Beyer will point out the common situations that increase the likelihood of a will contest and review over a dozen techniques which may avoid the contest in the first place or enhance the likelihood of the contest failing.

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

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.

• Terri Lynn Helge, Associate Dean of Academic Affairs & Professor of Law, Texas A&M University School of Law, Fort Worth, TX

ETHICS IN ESTATE PLANNING

Ethical issues and conflict of interest concerns in estate planning for multiple members of the same family, as well for the family’s business interests; conflict of interest and confidentiality 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, TX
• Darin N. Digby, Schoenbaum, Curphy & Scanlan, P.C., San Antonio, TX

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, TX

CHECK YOUR TAX BLIND SPOTS: WHAT TRUSTS & ESTATES ATTORNEYS SHOULD KNOW ABOUT INCOME TAX

Learn the basic rules related to the income taxation of trusts and estates in order to best serve clients during an administration. Review ethical considerations when representing clients in a context where income tax issues may arise. Learn strategies for deciphering income tax documents and spotting income tax issues in the course of a representation.

• Elizabeth T. Powdrill, Hopper Mikeska, PLLC, Austin, TX

PLANNING FOR THE FAMILY BUSINESS, INCLUDING FLPS & LLCS; WORKING WITH A CLIENT CLOSING A BUSINESS

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; Preparing the family business for sale; Tax and non-tax advantages of Family Limited Partnerships; Checklist of planning alternatives.

• Michael V. Bourland, Bourland, Wall & Wenzel, P.C., Fort Worth, TX

THE GENERATION-SKIPPING TRANSFER TAX

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.

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

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. 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, and powers of attorney. This presentation will provide you with guidance in this important phase of planning your client’s estate.

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

ESTATE PLANNING CURRENT DEVELOPMENTS AND HOT TOPICS

A summary of estate planning current developments, including a discussion of legislative, regulatory, and case law developments. The focus will be on issues of practical importance in advising clients, including the status of congressional developments and transfer tax audit key issues.

• Steve Akers, Senior Fiduciary Counsel, Bessemer Trust, Dallas, TX

ARTIFICIAL INTELLIGENCE AND ITS IMPACT ON TODAY'S ESTATE PLANNER

Artificial intelligence (AI) is rapidly being incorporated into estate planning practices. AI products can increase the speed by which you prepare, review, and summarize estate planning related documents, tax returns, and client communications. Likewise, the speed by which you can conduct legal and financial research is faster than ever. This presentation is designed to explain how AI operates, the potential use of AI in your practice, warnings about the use of AI, and how to address the ethical issues that arise when using AI.

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

Nondiscriminatory Policy

The Center for American and International Law does not discriminate on the basis of race, color, sex, religion, national origin, age, disability, veteran status, sexual orientation, gender identity, or any other protected status in educational activities, scholarship programs or admissions.