13th Annual Sophisticated Trusts and Estates Law Institute
New York Marriott Marquis
New York, NY 10036
Monday, November 16, 2015 from 9:00 a.m. to 5:10 p.m.
Can’t attend in person? This program is also available via a simultaneous live webcast option. Newly admitted attorneys (less than twenty-four months) must attend the program in person to receive New York MCLE credit.
8.0 MCLE Credits: 7.0 Professional Practice; 1.0 Ethics
This advanced-level course has been approved for MCLE credit in New York for all attorneys, except those who are newly admitted (less than 24 months).
NYSBA members: $495.00
> Registration fees for live programs increase ten days prior to the program date.
> Note: NYSBA’s CLE seminar coupons and complimentary passes cannot be used for this program.
NYSBA Trusts and Estates Law Section
New York Bankers Association
Committee on Continuing Legal Education
Joshua S. Rubenstein
National Chair of Trusts and Estates
Katten Muchin Rosenman LLP
New York, New York
Keynote Luncheon Speaker:
Hon. Nora S. Anderson
New York County Surrogate
New York, NY
Now in its 13th year, the Sophisticated Trusts and Estates Law Institute returns in a new one-day format with a prestigious national faculty of authorities covering key issues and the latest developments in all aspects of trusts and estates law.
Co-sponsored by the New York Banking Association and the New York Society of CPA’s, there will be plenty of networking time, permitting you to pose questions to the faculty and compare notes with fellow practitioners in the legal, banking and accounting fields. A luncheon will be served, highlighted by keynote speaker Hon. Nora S. Anderson, New York County Surrogate. We expect the Institute to be sold out so register early to avoid disappointment.
Who Should Attend: Trusts and Estates Attorneys, In-House Counsel Representing Financial Institutions, Bankers and Accountants.
8:30 – 9:00 a.m. Registration/Continental Breakfast (outside meeting room)
9:00 – 9:10 a.m.
Introduction and Overview
Joshua S. Rubenstein, National Chair of Trusts and Estates, Katten Muchin Rosenman LLP, New York, New York
9:10 – 10:25 a.m.
Estate Planning Update: Review of 2015 Developments
Sanford J. Schlesinger, Founding Partner, Schlesinger Gannon & Lazetera LLP, New York, New York
> Final portability regulations
> Federal estate tax closing letters
> New basis consistency requirements – The Surface Transportation and Veterans Health
> Care Choice Improvement Act of 2015
> The Obama administration’s fiscal year 2016 transfer tax and related income tax proposals, and other tax proposals
> Tax-free savings accounts for individuals with disabilities – The ABLE Act
> Maryland v. Wynne – The United States Supreme Court, the “dormant Commerce Clause”, and multi-state taxation of income
> Estate tax considerations vs. income tax considerations in estate planning
10:25 – 11:15 a.m.
The State of the States: Update on Latest Planning Developments
Sharon Klein, Managing Director of Family Office Services & Wealth Strategies, Wilmington Trust, N.A., New York
> Latest estate and gift tax changes and trends, including prospects for reform
> Significant fiduciary income tax developments
> Groundbreaking developments and planning considerations regarding fiduciary access to digital assets
> Analysis of legislative action regarding rights of children conceived after a parent’s death with stored genetic material, as well as planning considerations in light of rapidly advancing technology
> Cautionary lessons regarding the effect of divorce in the estate planning context; and
> Enforceability of charitable pledges
11:15 – 11:30 a.m. Morning Refreshment Break
11:30 a.m. – 12:20 p.m.
Update: Planning with Life Insurance
Lawrence Brody, Partner, Bryan Cave LLP, St. Louis, Missouri
> The Transfer Tax Consequences of the Use of Irrevocable Life Insurance Trusts
> Gift Tax
> Estate Tax
> Generation-Skipping Transfer Tax
> Planning Suggestions for Using Irrevocable Life Insurance Trusts
12:20 p.m. – 1:10 p.m.
Update: Asset Protection
Duncan E. Osborne, Managing Partner, Osborne, Helman, Knebel & Scott, LLP, Austin, Texas
> Fraudulent Transfers
> Asset Protection Planning Without Self-Settled Trusts
> Self-Settled Trusts – Domestic Venues
> Self-Settled Trusts – Foreign Venues
> Recent Cases
1:10 – 2:25 p.m. Luncheon
Update: Practice in the Surrogate’s Courts
Keynote Speaker: Hon. Nora S. Anderson, New York County Surrogate, New York, New York
2:25 – 3:15 p.m.
Update: Charitable Planning
Lawrence Katzenstein, Partner, Thompson Coburn LLP, St. Louis, Missouri
> Issues on division of charitable remainder trusts
> New Tax Court case on valuation pf income-only charitable remainder trusts
> Round up of new charitable deduction cases
> Charitable remainder trust drafting pointers and traps
> Use of qualified contingencies in charitable remainder trusts
3:15 – 4:05 p.m.
Planning for Clients with Diminished Capacity
Gary B. Freidman, Partner, Greenfield Stein & Senior LLP, New York, New York
Eric W. Penzer, Partner, Farrell Fritz, P.C., Uniondale, New York
> Representing the Client with Diminishing Capacity
> Does Your Retainer Letter Adequately Protect You?
> Client Misdeeds: Duties and obligations to the Court and Third Parties
> Can I have that Painting? – Ethical implications of client gifts and legacies
> Representing 2 Masters – Conflicts of Interest
4:05 – 4:20 p.m. Afternoon Refreshment Break
4:20 – 5:10 p.m.
Update: Same Sex Marriage
Professor William P. LaPiana, Associate Dean, Rita and Joseph Solomon Professor of Wills, Trusts, and Estates; Director, Estate Planning, Graduate Tax Program, New York Law School, New York, NY
> What is the significance of each of the 2 holdings in Obergefell v. Hodges
> What important questions are answered by knowing when the marriage started
> The general retroactivity jurisprudence of the Supreme Court of the United States
> The historical example of Trimble v. Gordon and its holding that exclusion of non-martial children from inheriting from their biological fathers is a violation of Equal Protection
> How states might respond to the retroactivity problem
5:10 p.m. Adjournment
Hon. Nora S. Anderson,New York County Surrogate, New York, NY; Lawrence Brody,Partner, Bryan Cave LLP, St. Louis, MO; Gary B. Freidman,Partner, Greenfield Stein & Senior LLP, New York, NY; Lawrence Katzenstein,Partner, Thompson Coburn LLP, St. Louis, MO; Sharon Klein,Managing Director of Family Office Services & Wealth Strategies, Wilmington Trust, N.A., New York, NY; Professor William P. LaPiana,Associate Dean, Rita and Joseph Solomon, Professor of Wills, Trusts, and Estates, Director, Estate Planning, Graduate Tax Program, New York Law School, New York, NY; Duncan E. Osborne,Managing Partner, Osborne, Helman, Knebel & Scott, LLP, Austin, TX; Eric W. Penzer,Partner, Farrell Fritz, P.C., Uniondale, NY; Sanford J. Schlesinger, Founding Partner, Schlesinger Gannon & Lazetera LLP, New York, NY