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Topics and Dates: 2007 Series Schedule
COST : PROFESSIONAL EDUCATION : TO REGISTER
JAN
23
2007
12161
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Beneficiaries' Rights Under Wills and Trust Instruments - Like Them Or Not
The ability of a creator of any irrevocable trust during life or at death faces innumerable challenges to keeping his or her estate plan intact, especially from challenges by beneficiaries. The Uniform Trust Code's concept of "equitable deviation" among other state laws opens the door for beneficiaries to seek major changes in the documents which govern their rights. Carefully constructed provisions in trust documents and proper situs selection can minimize the damage. In this program, Roy Adams and Clary Redd will cover:
What does "beneficiary" mean under local law?
Methods to minimize interference by beneficiaries.
Steps to secure trustee compensation from alteration by beneficiaries.
Legitimate beneficiary concerns.
Minimum disclosure and other compliance issues.
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FEB
27
2007
12162
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Recent Developments For Estate Planning Professionals: Another Reason To Buy Maalox
The steady flow of changes in the law from all major sources, including Federal and state legislatures, the Internal Revenue Service, Commissioners of Uniform Laws, and so forth, keep the popcorn popping. Ethical Rules for all estate planners continues to demand familiarity with law changes and modifications. Too many negligence cases are based upon the lack of familiarity with current developments or an alleged ethical violation. In this program, Roy Adams and Clary Redd will cover:
The unending and frustrating battle for transfer tax reform.
Increased compliance and ethical issues and complexity.
The developing body of Federal common law.
Limitations and ethical issues regarding post-death ability to reform documents.
New thinking in insurance planning.
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MAR
20
2007
12163
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Planning With Marital Gifts – The Most Common Things That Go Wrong
It is somewhat alarming to encounter the continuing existence of multiple errors made in marital planning. These errors can cost the Federal, and often the state, deductions available to an estate. Ironically, the express language intended to guarantee the marital deduction can achieve just the opposite. Given the significance of postponing estate taxes upon the first to die, it is critical to know the common errors that deny that relief. In this program, Roy Adams and Clary Redd will address:
Language directed at securing income for the surviving spouse that often backfires.
The marital deduction regulations which provide unique flexibility for spousal rights.
Infrequently used provisions which secure the marital deduction.
How surviving spouses are living longer and the impact that has on the partial or total use of the marital deduction.
Coping with a client's desire to limit marital rights.
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APR
24
2007
12164
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Important Lessons For Trustees - How And Why To Say Yes Or No To A Beneficiary
As every trust administrator knows, there are times when beneficiary requests can be granted, times when they must be denied, and times when they must be modified. The basis for such actions are mostly a function of the language in the trust document or in the local law. What a beneficiary is told is also heavily influenced by standards in the trust document. In this program, Roy Adams and Clary Redd will discuss:
The meaning of the words health, support, education and maintenance.
The effect of granting absolute discretion.
The non-legal side of making distributions.
Minimizing beneficiaries' negligence claims.
Certain trustee and beneficiary rights are fixed.
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MAY
22
2007
12165 |
Estate Planning For Business Owners - A Guide For The Basics and The Advanced
Valuation and the payment of taxes on business interests are matters of major concern to our clients who are business owners. Countless rules have developed over the years which can increase business taxation which has numerous strategies to minimize taxation. Whether the business is large or small, simple or complex, and in whatever form, addressing business planning issues with foresight, rather than hindsight, is critical to obtain the tax relief our clients want and expect. In this program, Roy Adams and Clary Redd will cover:
How special loans from businesses to pay estate taxes may be deducted front-end.
Advanced techniques that ingeniously use minority discounts and discounts for lack of control.
Why Family Limited Partnerships have been damaged but not destroyed.
Why state death taxes on business interests must be addressed in the planning strategy.
How appraisal requirements contain disincentives for significant discount percentages.
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JUN
12
2007
12166 |
Retirement Benefit Planning – The Quagmire Remains But There Is Hope
No estate planner can avoid encountering retirement benefit planning. Because retirement plans assets are a large part of many estates, retirement benefit planning is a major part of any any recommendation that planners give to a client. From limited options, great oak trees grow. There is every reason to believe this omnipresent asset can be handled in the client's best interests as a result of insightful advice. In this program, Roy Adams and Clary Redd will address:
Distribution options using the marital deduction trust.
Distribution options using the credit shelter trust.
The usual tradeoffs in spousal planning but with new variations.
Funding issues in retirement benefit planning.
Beneficiary designation issues with plan administrators.
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JULY
17
2007
12167 |
Compliance Issues For Trustees – What Is Required By The Documents And The Law
The new kid on the block is the stern issue of trustee compliance appearing in multiple forms. Not only is a trustee subject to the familiar but demanding requirements of fiduciary law, but now new state conformity demands more. Compliance now has a different face because of the changes in the law which empower beneficiaries to interface with trustees in a more adversarial manner. In this program, Roy Adams, and estate planning attorney Clary Redd, will look at:
What Circular 230 means to trustees who are either lawyers or accountants, or who have lawyers or accountants working for them?
The Uniform Trust Code and how it opens many more doors which are compliance oriented.
The increasing negligence actions based on noncompliance.
Why following the provisions of the trust document is an imperative first step, but more is required.
Why the new face of compliance will add significant costs to trust administration and necessitate careful trustee selection.
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AUG
14
2007
12168 |
Ordinary And Extraordinary Estate Planning – Effective Strategies For Small, Medium And Large Estates
Many of the things which we do in estate planning to achieve a client's objectives and minimize taxes and other costs, we have done for years. These techniques include using marital deduction planning and credit shelter planning. The longtime use of these techniques does not mean our approaches to these old friends have changed over time. Also, using these techniques does not mean that sophisticated (and complicated) techniques should only be used in the largest of estates. Both common and uncommon techniques can often be used in planning of small, medium and large estates. In this program, Roy Adams and his guest, estate planning attorney and CPA, Ann Burns will discus these topics and others:
The differences in planning for small, medium and large estates.
How it is what we do not know as planners can hurt us as well as our clients.
Why courts are very strict when planning options which should have been discussed with clients are omitted.
Gathering data for estate planning is an art and not a science.
Liability for faulty estate planning occurs in estates of any size with virtually equal frequency.
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SEPT
5
2007
12169
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More Recent Developments & Ethics Rules: Multiple New Demands For Professionals
One branch of government seems to outdo the other in the creation of rules and regulations which create and eliminate estate planning options for our clients. Nothing is more important than staying abreast of the changes that are made. They can affect what we routinely do for clients, but they can also create new options for dealing with old problems or new options for dealing with new problems. Lurking underneath all of this change is the price estate planners pay for not being thorough or accurate in their recommendations. In this program, Roy Adams and his guest, USC Law School Dean and estate planning attorney Edward McCaffery, will cover:
Planning opportunities which have arisen from ingenious approaches.
What are the recent changes and from whence they come.
Danger signs from what may happen given what the courts, Congress and the IRS have done.
The application of ethical rules to these new changes.
How state laws with serious consequences of their own are changing as rapidly as Federal laws.
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OCT
23
2007
12170 |
Charitable Giving Update -The Changing Landscape For Charities and Charitable Giving
The limitations upon charities, and upon charitable giving, are more pronounced than ever. This does not mean that the great people of this country will give less or that the great charities of this country will do less, but it does mean the costs of giving and the costs of doing are much higher. Congressional disenchantment with certain improper conduct on behalf of donors and charities has resulted in new rules for compliance and new penalties against multiple parties for noncompliance. In this program, Roy Adams and his guest, charitable giving expert and attorney Conrad Teitell, will address:
How doing the "right thing" may lead to the wrong result under changing rules.
Why the possibilities for disallowance of a charitable gift deduction and loss of a charity's exempt status have increased.
Planning strategies for charitable giving that continue to reflect innovation.
Why private benefit from charitable contributions is a giant no-no.
How those who advise charities and their donors should themselves be following the new rules for compliance.
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NOV
13
2007
12171 |
Credit Shelter Trusts: The Dramatic Impact Of New Laws
For dozens of years estate planners have created credit shelter trusts in documents which mandated their terms, conditions and funding. Now, so much of the credit shelter planning is still present in the documents but the funding of the credit shelter trust is by disclaimer or QTIP elections. In other words, pre-death credit shelter planning is still present, but post-death funding and other changes have a new place in the estate planners lineup of options. The reasons for creating credit shelter trusts are very different than in past years. In this program, Roy Adams and his guest, national estate planning expert and attorney Jonathan Blattmachr, will cover:
The impact upon credit shelter trusts in creditor protection planning.
The interface of the marital deduction trust with the credit shelter trust.
The credit shelter trust as a vehicle under state and Federal law.
Changes in the credit shelter trust provisions mandated by changing exemption amounts.
The selection of trustees for credit shelter trusts.
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DEC
4
2007
12172
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Common Challenges For Those Who Work With Trusts - Guidance For The Exercise Of Discretion
Discretionary trusts lead the parade for trustee safety and the control of beneficiaries. However, the waters surrounding this time-honored approach are muddied. The assaults upon absolute discretionary language and the attacks by beneficiaries have taken their toll. Creditors are also demonstrating that they believe discretionary trusts do not provide the same level of protection as they did in the past. Fear not because discretionary trusts, even in the altered landscape, are alive and well, particularly in well-drafted documents. In this program, Roy Adams and his guest Clary Redd will look at:
Why Drafting discretionary trusts is an expert's task.
Why the administration of a discretionary trust is also an expert's task.
Procedures for the exercise of discretion by a trustee.
How following standards are as important as the distribution itself.
Guidance for making careful and defensible discretionary distributions.
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Cost
The price per call site location is only $295 no matter how many people listen at the call site location.
If you buy the entire Series (all 12 calls), you will save $360 off of the full Series price, and you
will receive an audio CD or an online audio recording for all previous calls in the 2007 Series that you
missed. Also, you can pick any 6 calls in the Series and register at one time and save $90. A call site
registration includes ONE telephone connection at one call site location, ONE master set of handouts
(with permission to make additional copies for the participants at your call site location), and an
unlimited number of participants from your organization in ONE listening room at the call site. ANY
TRANSMISSION OR RE-TRANSMISSION OF THIS EVENT TO ADDITIONAL SITES/ROOMS BY ANY MEANS INCLUDING BUT NOT
LIMITED TO THE USE OF A TELEPHONE CONFERENCE CALL OR CONFERENCE BRIDGE, WHETHER OR NOT OWNED BY THE
REGISTRANT, IS STRICTLY PROHIBITED, ILLEGAL AND IN VIOLATION OF THE COPYRIGHT LAWS. If you want to learn
about discount pricing for multiple call site locations for the same month, please call Milton Eisenberg
at Cannon (706) 353-3346.
Professional Education
The programs have been approved for professional education credits for CPAs, CFPs, Enrolled Agents, CTFAs and attorneys in a number of states. Please call Melanie Bryant, Cannons Assistant Director of Professional Education, at (706) 353-3346 to confirm the approval of the credits you are seeking.
To Register
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