This is a webcast of the live New York session.
Why you should attend
The American taxpayer Relief Act of 2012 (the “2012 Tax Act”), which was enacted on January 2, 2013, made “permanent” many of the changes of the Federal transfer tax system that were part of the Tax Relief, Unemployment Insurance Reauthorization, and Job Creation Act of 2010 and that were scheduled to expire at the end of 2012. In addition, the 2012 Tax Act made significant Federal income tax changes. Further, President Obama’s budget for the government’s fiscal year ending September 30, 2013 contains additional major proposals for transfer tax and income tax changes.
The program will review the transfer tax and income tax aspects of the 2012 Tax Act, the additional income tax and transfer tax changes that may occur, how you can use this information to your clients’ maximum advantage, and valuable estate planning techniques that are not foreclosed by the 2012 Tax Act. Moreover, the program will review other recent developments regarding charitable and non-charitable estate, trust and transfer tax planning.
What you will learn
- A review of the transfer tax changes in the 2012 Tax Act
- A review of the Administration's current transfer tax and income tax proposals
- Drafting estate planning documents to comply with and take advantage of the 2012 Tax Act
- Marital deduction planning – Portability is “Permanent”
- Generation-skipping transfer tax planning under the 2012 Tax Act
- Post-death elections and planning under the 2012 Tax Act
- State transfer tax consequences of the 2012 Tax Act
- FLPs and LLCs - Valuations and Discounts
- An update on recent developments in all other areas of estate, trust and transfer tax planning
- Charitable planning in a low interest rate environment
- Ethical concerns in estate planning
Who should attend
Attorneys and other professionals who specialize in estate planning and life insurance and transfer tax planning, including accountants, financial planners, trust officers, non-profit development professionals and anyone else whose practice requires a solid understanding of estate planning.
PLI Group Discounts
Groups of 4-14 from the same organization, all registering at the same time, for a PLI program scheduled for presentation at the same site, are entitled to receive a group discount. For further discount information, please contact firstname.lastname@example.org or call (800) 260-4PLI.
PLI Can Arrange Group Viewing to Your Firm
Contact the Groupcasts Department via email at email@example.com for more details.
All cancellations received 3 business days prior to the program will be refunded 100%. If you do not cancel within the allotted time period, payment is due in full. You may substitute another individual to attend the program at any time.
All times are E.D.T.
Day One: 9:00 a.m. - 5:00 p.m. (E.D.T.)
Morning Session: 9:00 a.m. - 12:30 p.m. (E.D.T.)
9:00 Recent Developments in Estate Planning and Federal Taxation
- Estate planning under the 2012 federal Tax Act
- Prospects for further Federal transfer tax legislation
- State transfer taxation issues
- New proposed alternate valuation date rules
- IRS guidance regarding protective estate tax refund claims under Code Section 2053
- IRS reviews transfer tax aspects of “decanting” of trusts
- Presidential budget proposals for 2010-2014
Sanford J. Schlesinger
10:15 Sophisticated Planning Techniques
- Post-ATRA planning with the $5 million applicable exclusion amount
- How the Obama administration’s Fiscal Year 2014 proposals would affect transfer taxes and key planning techniques such as GRATs (grantor retained annuity trusts) and Sales to Defective Grantor Trusts
- Working with GRATs and Sales to Defective Grantor Trusts – pros and cons
- CLATs (charitable lead annuity trusts) – do they make sense?
- Planning with residences – QPRTs (qualified personal residence trusts) and the practical: harmonizing family ownership of the vacation home?
- Intra-family loans
Blanche Lark Christerson
11:15 Networking Break
11:30 Update on Elder Law, Especially Medicare and Medicaid
- Elder law planning for single individuals and married couples
- Long-term care insurance, including tax considerations
- Protecting the family home
- Use of trusts in elder law and special needs planning
- Retirement accounts and long-term care planning
- Medicare: What's covered? What's not?
Bernard A. Krooks
Afternoon Session: 1:45 p.m. - 5:00 p.m. (E.D.T.)
1:45 Estate Planning with Real Estate
- Drafting and structuring entity agreements
- Special valuation considerations for investment real estate
- Planning to maximize income tax basis step up and coping with negative capital
- Liquidity concerns and payment of estate taxes
- Special consideration for the foreign investor
- Pros and Cons of alternative planning techniques
Stephen M. Breitstone
2:45 Planning with Retirement Benefits
- Income taxation of retirement benefits
- Net unrealized appreciation
- Required minimum distribution update
- QTIPs for death benefits
- Charitable contributions
- Roth IRAs
Stephen J. Krass
3:45 Networking Break
4:00 Ethical Considerations
- Conflicts – who is your client?
- Retainer agreements
- Representing fiduciaries
- Hon. John M. Czygier, Jr. (confirmed)
Day Two: 9:00 a.m. - 4:45 p.m. (E.D.T.)
Morning Session: 9:00 a.m. - 12:15 p.m. (E.D.T.)
9:00 Online Life After Death
- What are digital assets, where are they and who can access them?
- Protecting and disclosing Username and Passwords.
- Preventing disclosure of your digital secrets, writings, photos, social network data.
- What do websites do with a user’s account after death?
- Executor’s responsibilities for decedent’s digital assets.
- Estate planning for disposing of digital assets.
- Digital property belonging to employer.
- Afterlife companies – are they worth it?
Donald A. Hamburg
10:00 Charitable Planning Tax Strategies
- Savvy planning under the 2012 American Taxpayer Relief Act
- Avoiding bad heir days and near-death tax experiences
- Gathering windfalls and avoiding pitfalls
11:00 Networking Break
11:15 Planning for Post-Death Decisions
- State of domicile can have a wide range of consequences to the estate
- Put options and other rights (options) under buy sell and other agreements
- Extension of time to pay estate tax under 6161 for reasonable cause
- Estate tax deferral 6166
- Graegin loans – The new paradigm with portability
- Planning gain or loss on distributions
- Disclaimers – a key tax and dispositive factor
- Marital deduction can be the subject of a host of elections or elective actions by the executor or trustees
- Claims and liabilities can be impacted by the executor’s actions
Martin M. Shenkman
Afternoon Session: 1:30 p.m. - 4:45 p.m. (E.D.T.)
1:30 Estate Planning for Domestic Partners, Same-Sex Spouses and Non-Traditional Families
- Focus on prenuptial and postnuptial agreements
- Recent developments affecting domestic partners, same sex spouses and alternative families
- Estate planning for non-traditional families
- Domestic partnership agreements and special issues regarding prenuptial agreements for same-sex spouses
- Issues arising from joint ownership arrangements
- Useful estate planning instruments for domestic partners
Erica Bell, Lindsay H. Brown, Lisa Ayn Padilla
2:30 Marital Deduction Planning with an Emphasis on the Pros and Cons of Portability
- Comparison of Portability with Credit Shelter Trust
- Making the Portability Election
- Planning with Portability
- Effect of Portability
- Subsequent Remarriage or Divorce of Surviving Spouse
- GST Issues
- Impact on State Wealth Transfer Taxes
- Use by Surviving Spouse of Deceased Spousal Unused Exclusion Amount (“DSUEA”)
- Statute of Limitations Concerns
Sanford J. Schlesinger, Yoshimi O. Smith
3:30 Networking Break
3:45 Estate Planning for Collectibles
- Donating Works of Art
- Valuation of Works of Art - New Appraisal Rules
- Transfer of Works of Art to Family Members
- New Planning Techniques for Collectibles
Ralph E. Lerner
PLI makes every effort to accredit its Live Webcasts. Please check the CLE Calculator above for CLE information specific to your state.
PLI's Live Webcasts
are approved for MCLE credit (unless otherwise noted in the product description
) in the following states/territories: Alabama, Alaska, Arkansas, California, Colorado, Delaware, Florida, Georgia, Hawaii, Idaho*, Illinois, Indiana1
, Iowa*, Kansas*, Kentucky*, Louisiana, Maine*, Minnesota, Mississippi, Missouri, Montana, Nebraska, North Carolina, North Dakota, New Hampshire*, New Jersey, New Mexico, Nevada, New York2
, Oklahoma, Oregon*, Pennsylvania4
, Rhode Island, South Carolina, Tennessee, Texas, Utah, Vermont, Virginia5
, Virgin Islands, Washington, West Virginia, Wisconsin, and Wyoming*.*PLI will apply for credit upon request.
Arizona: The State Bar of Arizona does not approve or accredit CLE activities for the Mandatory Continuing Legal Education requirement.
Arkansas and Oklahoma: Audio-only live webcasts are not approved for credit.
1Indiana: Considered a distance education course. There is a 6 credit limit per year.Running time and CLE credit hours are not necessarily the same. Please be aware that many states do not permit credit for luncheon and keynote speakers.
2New York: Newly admitted attorneys may not take non-transitional course formats such as on-demand audio or video programs or live webcasts for CLE credit. Newly admitted attorneys not practicing law in the United States, however, may earn 12 transitional credits in non-traditional formats.
3Ohio: To confirm that the live webcast has been approved, please refer to the list of Ohio’s Approved Self Study Activities at http://www.sconet.state.oh.us. Online programs are considered self-study. Ohio attorneys have a 6 credit self-study limit per biennial compliance period. The Ohio CLE Board states that attorneys must have a 100% success rate in clicking on timestamps to receive ANY CLE credit for an online program.
4 Pennsylvania: A live webcast may be viewed individually or in a group setting. Credit may be granted to an attorney who views a live webcast individually. There is a 4.0 credit limit per year for this type of viewing. A live webcast viewed in a group setting receives live participatory credit if the program is open to the public and advertised at least 30 days prior to the program. Live webcasts viewed in a group setting that do not advertise at least 30 days prior the program will be considered "in-house", and therefore denied credit.
5Virginia: All distance learning courses are to be done in an educational setting, free from distractions.
Note that some states limit the number of credit hours attorneys may claim for online CLE activities, and state rules vary with regard to whether online CLE activities qualify for participatory or self-study credits. For more information, refer to your state CLE website or call Customer Service at (800) 260-4PLI (4754) or email: firstname.lastname@example.org.
If you have already received credit for attending some or the entire program, please be aware that state administrators do not permit you to accrue additional credit for repeat viewing even if an additional credit certificate is subsequently issued.