Trusts and Estates Law Section 2018 Fall Meeting
Real Estate for Estate Attorneys: Handling Real Property Transfers in Estate Matters & Recognizing Estate Planning Issues in Real Property Transfers
Co-Sponsored by the Real Property Law Section
October 18-19, 2018
The Sagamore Resort
Bolton Landing, New York
Trusts and Estates Law Section Chair
Natalia Murphy, Esq. , Citi Private Bank, New York City
Program Co-Chairs
Carl T. Baker Esq., Fitzgerald Morris Baker Firth, PC, Glens Falls
Sarah Catherine (Katie) Lynagh. Esq., Milbank Tweed Hadley & McCloy, LLP, New York City
Co-Sponsored by the Real Property Law Section
MCLE: up to 6.0 credits consisting of 5.0 Credits in Professional Practice and 1.0 Credit in Ethics.
This program is not transitional and does not qualify for newly admitted attorneys.
Register online
Download Meeting Brochure
Download Meeting Registration Form
Hotel Information:
The Sagamore Resort
110 Sagamore Road
Bolton Landing, NY 12814
Our Room Block is sold out. However, there may still be rooms available. You can reserve your overnight accommodations by calling the hotel at 866.384.1944 (identify yourself as of New York State Bar Association member or register online.
View/download the program Brochure
Schedule of events:
Most clients own, and their estates will contain, real estate – whether a modest house, an heirloom lake front cottage, or a condo or cooperative apartment in New York City – that needs to be planned for properly. As Estate attorneys, at some point in time we will be advising our clients regarding the transfer of title, keeping real property in the family for future generations, strategies for administering an entity holding real estate over time, or protecting it from loss to creditors or care expenses. This meeting will help you advise your clients in all of those areas. We will also take a close look at how the Power of Attorney and Gift Rider can be utilized in estate planning and cover the ethical issues that can arise from time to time.
Thursday, October 18
10:30 a.m. – 5:00 p.m.
Registration - Conference Center Foyer
10:30 a.m. – 5:00 p.m.
Exhibitors - Wapanak Room
12:00 p.m. – 2:00 p.m.
Executive Committee Luncheon Meeting – Triuna Room
2:00 p.m. – 5:00 p.m.
General Session – Nirvana Room
2:00 p.m. – 2:05 p.m.
Welcome and Introductory Remarks - Natalia Murphy, Esq., Section Chair
2:05 p.m. - 2:10 p.m.
NYSBA Welcome - Michael Miller, Esq., New York State Bar Association President
2:10 p.m. – 2:15 p.m.
Program Introduction - Program Co-Chairs, Carl T. Baker, Esq. and Katie Lynagh, Esq.
2:15 p.m. – 3:10 p.m.
Deeds and Misdeeds: Avoiding Real Property Transfer and Planning Pitfalls
Real estate lawyers often fail to recognize estate planning issues inherent in transfers of homes, condominiums, or cooperative apartments Similarly, trusts and estate lawyers often fail to anticipate title, lender, or other real property issues that can be avoided with diligence and knowledge. This session provides strategies on how to deal with common traps when structuring and documenting real property transfers both during life and after death.
Speakers:
Joseph T. La Ferlita, Esq., Farrell Fritz, P.C., Uniondale, NY
Albert B. Kukol, Esq., Levene Gouldin & Thompson, LLP , Vestal, NY
3:10 p.m. – 4:00 p.m.
Keeping the “Heirloom” Property in the Family
The family lakeside cabin, ski chalet, or beach retreat may generate a lifetime of fond memories, and when the client wants to keep it in the family for future generations the planning attorney is presented with a complex set of drafting challenges. When Is a Trust preferred to an entity such as a Limited Liability Company? What are the most significant drafting concerns for an entity agreement or testamentary instrument? What are the practical considerations and options for funding and administering the entity?
Speakers:
Timothy B. Borchers, Esq., Borchers Trust Law, Medway, MA
Christopher A. Cahill, Twelve Points Wealth Management, Concord, MA
4:00 p.m. – 4:15 p.m.
Break
4:15 p.m. – 5:00 p.m.
Administering Closely Held Entities and Protecting Fiduciaries
Executors and trustees often step into the shoes of a decedent who was a partner or member of an entity owning real estate. Such fiduciaries may also own an interest in the entity in their individual capacity. What provisions should be included in the governing instrument to protect such fiduciaries? Where they control the entity in their fiduciary or individual capacity, what guidelines should be employed to navigate the many decisions that arise in connection with ongoing operations? What advice should be given to a fiduciary who faces potential conflicts with respect to business decisions at the entity level and fiduciary decisions at the estate or trust level? Finally, under what circumstances does a fiduciary have a duty to account to the trust or estate beneficiaries for his entity-level activities?
Speakers:
Quincy Cotton, Esq., Roberts & Holland LLP, New York City
Anne C. Bederka, Esq., Greenfield Stein & Senior, LLP, New York City
6:00 p.m. – 10:00 p.m.
Cocktail Reception and Dinner – DOLLAR ISLAND TERRACE AND SHELVING ROCK TERRACE
Enjoy panoramic views of Lake George and sweeping fall foliage starting with cocktails on the Dollar Island Terrace followed by dinner on the climate-controlled and tented Shelving Rock Terrace.
Friday, October 19
8:00 a.m. – 12:30 p.m.
Registration – Conference Center Foyer - Breakfast and Exhibitors
8:00 a.m. – 9:00 a.m.
Committee Breakfast Meetings- Wapanak Room
The section committees will be meeting informally over breakfast. We welcome you to take this opportunity to connect with colleagues and learn more about how to get involved in the wide variety of committees.
9:00 a.m. – 9:10 a.m.
General Session - Nirvana Room
Program Introduction - Program Co-Chairs Carl T. Baker, Esq. and Katie Lynagh, Esq.
9:10 a.m. – 10:00 a.m.
Protecting the Property
Often a home, however modest, may be a client’s most valuable asset and an asset the client would like to protect and preserve for the client’s heirs. What are the options for titling and transferring real estate to protect it from the risks of future creditors or uninsured long term care expenses? What structures work and what are their tax consequences? What controls and protections can the client maintain?
Speaker:
Frances M. Pantaleo, Esq., Bleakley Platt & Schmidt, LLP, White Plains, NY
10:00 a.m. – 10:50 a.m.
Agency - The Power of Attorney and Its Role in Real Property Planning
The Power of Attorney is a basic tool for the estate planner and a needed document for most clients. This session will address issues that practitioners are having when needing to use the document and cover best practices for execution and gaining acceptance of the Power of Attorney by title companies, financial institutions and others.
Speaker:
Ellen Makofsky, Esq. CELA, Makofsky & Associates, PC, Garden City, NY
10:50 a.m. – 11:05 a.m.
Coffee Break with Exhibitors
11:05 a.m. – Noon
Real Estate in Estates: An Ethical Trap for the Unwary?
Many estates involve the transfer of real property and very often a decedent’s home is one of the main assets in the estate. The transfer and administration of real property can be a trap for the unwary and often creates significant tension among estate beneficiaries, intestate distributees and fiduciaries. Hear about some of the most common issues seen in Surrogate’s Court related to real property and the ethical challenges to counsel.
Speaker:
Hon. Stacy L. Petit, Albany County Surrogate’s Court Judge, Albany, NY
12:00 p.m.
Adjourn – Closing Remarks - Natalia Murphy, Esq., Section Chair
Questions? Contact Lisa Bataille at 518.487-5680 or lbataille@nysba.org
