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Business Taxation
Accounting, ERISA, Ethics, Etc.
> Estate Planning


October 21-25, 2019
October 26-30, 2020

SCHEDULES : Estate Planning

Alan F. Rothschild, Jr.,

7:00-8:00 – Breakfast

8:00-9:00 – Estate Planning and Administration After TCJA – TCJA contains several provisions of significance to professionals in the fields of estate planning and administration.  Among the most notable are the “doubling” of the basic exclusion amount, the $10,000 cap on the deduction for state and local taxes, the elimination of miscellaneous itemized deductions, and the up-to-20% deduction for qualified business income.  This session examines the important details of these provisions and discusses various strategies to maximize available benefits and avoid or minimize detrimental results.
Charles A. “Clary” Redd, Partner, Stinson Leonard Street LLP, St. Louis, MO

9:00-10:00 – Dishing the Dirt on Planning for Real Estate Investors - This program focuses on income tax and wealth transfer tax opportunities (and pitfalls) associated with planning for real estate investors, including valuation discounts; valuation freezes; and leveraging strategies for specific types of assets and ownership structures common in real estate deals. This program also examines the implications of TCJA and discusses practical considerations (tax and non-tax) for representing real estate investors, including, among other topics, choosing the right trustees after the Aragona case; dealing with negative capital accounts; and managing capital gains and avoiding “dealer” status.
Farhad Aghdami, Partner, Williams Mullen, Richmond, VA

10:00-10:15 – Break

10:15-11:15 – Squaring the Circle – This expert panel provides a comprehensive examination of the history, recent statutory and case law developments, and contemporary challenges of applying the attorney-client privilege in the fiduciary realm.
Dana G. Fitzsimons Jr., Principal, Bessemer Trust, Atlanta, GA
Meghan G. Hubbard, McGuireWoods LLP, Richmond, VA
Submitted for 1.0 hour of ethics credit.

11:15-12:00 – Minimizing or Eliminating State Income Taxes on Nongrantor Trusts - This session explores the substantial state income tax savings that can be achieved through the careful selection of a trust’s fiduciary, place of administration, and other factors.
Richard W. "Dick" Nenno, Senior Trust Counsel and Managing Director, Wilmington Trust Company, Wilmington, DE

12:15-1:05 – Mid-day Program: Valuation Issues Arising From Tax Reform – This program will cover valuation issues that the firm has seen arise from Tax Reform and new planning techniques that the firm’s referral sources are using.  The presenter will address different assets that are being valued in conjunction with new planning techniques, as well as other issues that have surfaced in the valuation community over the past year.
Sponsored by MPI and presented by Todd Povlich

Frank S. Macgill,

1:15-2:15 – Decanting: A Balancing Act - “Decanting” in the trust-law context refers to a trustee’s “pouring over” of trust assets from an existing trust to another trust, the terms of which may vary slightly or significantly as allowed by governing law. Having originated as a common-law concept in the early 1940s, decanting has now been codified in approximately half the states in the Union. While decanting provides practical flexibility to deal with difficult, inappropriate or ambiguous trust terms, its availability can also increase exposure to the fiduciary, which must consider carefully whether and how its fiduciary duty of impartiality among beneficiaries impacts its judgment as to the potential benefits of “improved” provisions. The various state statues adopted to date vary significantly in the discretion afforded the fiduciary and, thus far, very few judicial decisions are available to guide the trustee or advisor.
Cynthia G. Lamar-Hart, Shareholder, Maynard Cooper & Gale, Birmingham, AL

2:15-3:15 – Using Self-Settled Asset Protection Trusts for Tax Planning Purposes - This program provides an overview of domestic self-settled asset protection trusts.  The program also addresses why clients are interested in creating domestic self-settled asset protection trusts and how such trusts can be used to accomplish certain tax planning objectives.  In particular, the program explains the proper use of completed gift asset protection trusts and DING (Delaware incomplete gift non-grantor) trusts.
Michael Gordon, Director, Gordon, Fournaris & Mammarella, P.A., Wilmington, DE

3:15-3:30 – Break

3:30-4:30 – “Tax-Exempt” Does Not Mean “Nontaxable,” Especially After TCJA – The changes wrought by TCJA did not spare exempt organizations. In fact, there are new excise taxes, new exceptions, new charitable contribution rules, and important changes to the determination of unrelated business income. In addition, administrative developments, both friendly and unfriendly, over the past year also significantly affect exempt organizations. This presentation explains these changes and developments and offers practical planning tips.
James K. Hasson, Jr., Principal, Hasson Law Group, LLP, Atlanta, GA

4:30-5:30 – Family LPs and LLCs: The Unwind - This session will examine the income tax issues that may be overlooked in unwinding a family LP or LLC, particularly if the advisor’s expertise is more concentrated on estate planning than income taxation.
Robert R. Pluth, Jr., Partner, Schiff Hardin LLP, Chicago, IL

5:30-7:00 – Cocktail Party


Martha Louise R. Lewis,

7:00-8:00 – Breakfast

8:00-9:15 – Innovative Pass-Through Structures and Techniques in the Wake of TCJA - Tax reform (whether you call it the “Tax Cuts and Jobs Act” or the “Tax COVFEFE and Jibberish Act”) is here to stay…sort of.  This presentation discusses the important opportunities and pitfalls that have been created for families (and family-owned businesses) with pass-through entities (partnerships, LLCs, and disregarded entities) from both an estate planning and income tax planning standpoint, with a focus on what will expire and what is “permanent.”
Paul S. Lee, Senior Vice President, The Northern Trust Company, New York, NY

9:15-10:30 – 70 ½: How to Compute, Take, Minimize and/or Avoid RMDs - The baby boomers are reaching age 70 ½ at the rate of 10,000 per day. They need your help in dealing with “required minimum distributions” from their IRAs and other retirement plans. This presentation addresses how to do RMDs “right” and manage the tax impact.
Natalie B. Choate, Of Counsel, Nutter McClennen & Fish LLP, Boston, MA

10:30-10:45 – Break

10:45-12:00 – Are Nongrantor Trusts the Cat’s Pajamas Again? – For years we have been using grantor trusts that are disregarded as separate entities for income tax purposes to enhance gift planning. But after TCJA, have we entered a new era where nongrantor trusts suddently are more attractive? For instance, do they offer advantages for state and local tax deductions or administrative expenses? Can we use them to maximize the new § 199A deduction by balancing distributions to the beneficiaries when the trust owns a pass-through business? Do ESBTs qualify for the new § 199A deduction and/or provide any new planning opportunities with the expanded charitable contribution deduction? Finally, when the love boat takes on water, who reports the income generated by the couple’s grantor trust? These and other timely questions about fiduciary income tax planning are answered by this session.
Carol A. Cantrell, Member, Cantrell & Cantrell, PLLC, Houston, TX

12:15-1:05 – Mid-day Program: NO PROGRAM SCHEDULED. Please make arrangements to have lunch on your own. We will reconvene at 1:15pm.


Tiffany A. Altizer,

1:15-2:30 – Recent Estate and Gift Planning Developments – In an always lively and informative fashion, this session details significant court decisions, rulings, and statutory and regulatory developments relating to trust and wealth transfer taxes over the past twelve months.
Samuel A. Donaldson, Professor of Law, Georgia State University College of Law, Atlanta, GA