Advanced Estate Planning Techniques - CLE, Continuing Legal Education - ALI
Advanced Estate Planning Techniques
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Why You Should Attend

With the passage of the American Taxpayer Relief Act, the uncertainty on what was going to happen to the estate tax has only been somewhat resolved. The questions now lie in what will happen when Congress addresses sequestration and the debt ceiling. If you want the best early education on the state-of-affairs in 2013, you need to attend this program!

This annual, accredited course from ALI CLE, taught by experienced trust and estate practitioners and educators from around the country, features carefully selected, sophisticated topics that focus on the latest developments in the federal estate tax while providing the information and tools you need to better serve your clients. With a smaller classroom environment, those who attend Advanced Estate Planning Techniques in person will have many opportunities to get their pressing questions answered by the faculty and to network with like-minded colleagues.

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What You Will Learn

Many changes are affecting the practice of estate planners. Attend this advanced course to learn:

How LLCs are sometimes overused and misused as an asset protection device

The income tax consequences upon termination of grantor trust status

Legal limitations on permissible conditions

Sophisticated uses for the previously taxed property credit

When and how to use trust protectors

How to adapt your practice to the needs of a changing client base

The importance of inter vivos credit shelter planning if portability disappears

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Who Should Attend

Experienced estate planning attorneys, trust administrators, and financial and tax professionals who provide guidance and strategies for transferring wealth and reducing estate taxes should attend this accredited continuing legal education program from ALI CLE.

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Planning Chairs

Lawrence P. Katzenstein, Thompson Coburn LLP, St. Louis, Missouri

Jeffrey N. Pennell, Richard H. Clark Professor of Law, Emory University School of Law, Atlanta, Georgia

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Thomas W. Abendroth, Schiff Hardin LLP, Chicago

Laurelle M. Gutierrez, Carr, McClellan, Ingersoll, Thompson & Horn PLC, Burlingame, CA

Amy E. Heller, McDermott Will & Emery, New York

Kathleen R. Sherby, Bryan Cave LLP, St. Louis

Lauren J. Wolven, Horwood Marcus & Berk Chartered, Chicago


ALI CLE Program Attorney: Amy S. Weinberg

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Program Schedule

(All times are Pacific Standard Time)


Thursday, February 14, 2013


7:30 a.m. Registration and Continental Breakfast
8:25 a.m. Administrative Remarks – ALI CLE Staff




8:30 a.m. State Income Taxation of Trusts, Estates, Grantors, and BeneficiariesMs. Gutierrez
With the ever increasing mobility of today’s society, the likelihood that a trust, its trustees or beneficiaries will move to another state or states becomes almost a certainty. The state income tax impact of those movements on the trust can be quite substantial, and knowing and understanding the consequences of those movements is difficult given the lack of uniformity of the tax laws of the states across the country. In order to minimize the income tax effects of such movements, it is essential that the trustees are aware of and understand the tax laws of the other states with which the trust, its trustees and beneficiaries have connections. For purposes of illustration, this session will explore the fiduciary income tax of key states (including California, Oregon, Arizona, Delaware, Illinois, Massachusetts, New Jersey, and New York), with emphasis on how to minimize or avoid the tax effects of our mobile society.



10:00 a.m. Networking and Refreshment Break



10:15 a.m. The Illusory Asset Protection of LLCs and the Eroding Asset Protection of Trusts Mr. Abendroth
- Learn how LLCs are sometimes overused and misused as an asset protection device.
- Review the trend in many states toward directly or indirectly reaching trust assets in a divorce and learn how to plan to avoid that possibility.


11:45 a.m. Lunch Break




1:00 p.m. Grantor Trusts in Uncertain TimesMs. Heller
Grantor trusts are a long-time staple of estate planning for taxable estates. This session will address the appropriateness of grantor trusts as donees for gifts, how to draft grantor trust instruments flexibly in view of uncertainty in the transfer tax laws, and how to manage the grantor trust status of existing trusts. The presentation also will include a discussion of traps for the unwary, including the income tax consequences on a termination of grantor trust status.


2:30 p.m. Networking and Refreshment Break


2:45 p.m. Incentives, Conditions, and Statements of IntentMs. Wolven
- Legal limitations on permissible conditions
- Planning for failed conditions
- Pros and cons of incentive planning
- Drafting considerations for long-term trusts


4:15 p.m. Networking and Refreshment Break


4:30 p.m. Ethical Issues in Estate PlanningProfessor Pennell
The vast majority of estate planners are of a personality type that makes them more sensitive than many attorneys to concerns about ethics, conflicts, and propriety. However, the rules governing the legal profession are not about morality as much as they are guidelines and prohibitions that regulate the practice of law. Thus, a good moral compass is not enough to steer clear of ethics issues. In this interactive session, Professor Pennell will discuss actual ethics issues regularly faced by estate planners, based on questions and topics submitted and posed by registrants. (Suggestions/questions may be submitted in advance to


5:30 p.m. Adjournment for the Day; Networking Reception for Registrants and Faculty


Friday, February 15, 2013


8:30 a.m. Continental Breakfast and Networking Session


9:00 a.m. Mathematics of Estate PlanningMr. Katzenstein
- Estate and gift tax calculation issues
- Sophisticated uses of the previously taxed property credit
- Time value of money issues in estate planning
- The effect of interest rates on estate and charitable planning
- What is behind the IRS actuarial tables?


10:30 a.m. Networking and Refreshment Break


10:45 a.m. Trust Protectors and Other Third Party Decision Makers: Distinguishing Roles and When, How, and Why to Use ThemMs. Sherby
This presentation will cover the historic legal background to the use of trust protectors and other third party decision makers in the US, and will discuss the functional differences among third party decision makers. It will also provide guidance as to when and how to use trust protectors and other third party decision makers in trusts.


12:15 p.m. Lunch Break




1:30 p.m. Marital Deduction Planning in 2013Professor Pennell
Marital deduction planning will be affected in 2013 regardless of what Congress does in 2012. Whether the law snaps back to the $1 million exclusion amount and the rates return to 55% (with the 5% bubble on estates in excess of $10 million), or if portability is made permanent and the exclusion and rates are frozen at prior levels, this session will explore the state of the law and planning made relevant under it as events unfold. Particular topics include:
- Planning in anticipation of tax reform
- Size of the marital bequest – including notions such as the time value of money and using disclaimers or partial QTIP elections for postmortem engineering of the bequest
- Gifting by the surviving spouse, including by nonqualified disclaimers from QTIP trusts
- Inter vivos credit shelter planning – especially important if portability disappears


3:00 p.m. Networking and Refreshment Break


3:15 p.m. The Future of a Private Wealth Services PracticeTBA

The uncertainties surrounding the U.S. transfer tax system and the worldwide economy have caused many clients and financial advisors to wonder what the future will be for a private wealth services practice. In 2001, there were 108,000 estate tax returns filed, while in 2010 there were less than 15,000 filed. In addition, the demographic makeup of our clients is changing – they are living longer, marrying later, and having fewer children. These and other changes will continue to impact the practice. This presentation will address what private wealth service advisors need to anticipate and how to properly adapt to them to be in a position to succeed financially and appropriately advise clients.


4:45 p.m. Adjournment


Total 60-minute hours of instruction: 13, including 1 hour of ethics

Suggested Prerequisite: Substantial experience in legal practice in subject matter

Educational Objective: Development of proficiency in performance of intricate and complex legal tasks within a narrow area

Level of Instruction: Advanced

Click Here for MCLE Credit Information

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Here's what registrants have said about this course:


"This was an excellent program with exceptional speakers. Great job." –  previous registrant


"I found the materials excellent compared to other organizations." – previous registrant


"This course was excellent in its content, presentation, faculty, and administration. It more than met my expectations and objectives for taking the course. The essence of estate planning was covered extremely well." – previous registrant


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