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61st Annual Estate Planning Short Course

This annual gathering of Illinois estate planners combines two full days of advanced estate and trust planning education from the top legal minds in the state with an unprecedented opportunity for professional networking.
  • Credits: 10 General, 0 Diversity/Inclusion PR, 0 MH/SA PR, 2 Other PR
  • Product ID: P9004-18U
  • Formats:
    • DVD
    • Live Event
    • Webcast

Description

Champaign – May 14 & 15, 2018
Chicago | Springfield Simulcast | Live Webcast – May 23 & 24, 2018

Day One | Day Two

iHotel and Conference Center, 1900 South First Street, Champaign, IL

Holiday Inn Mart Plaza, 350 W. Mart Center Drive, Chicago, IL: Discounted overnight room rates of $189.00 are available. Attendees may book a reservation by calling (855) 268-0372 and requesting a room under the block "Estate Planning Short Course."

  

DAY ONE

Moderated By:
Champaign - Thomas G. Hamill,
Harrison & Held, LLP, Springfield
Chicago - Elizabeth A. Garlovsky, Lesser Lutrey Pasquesi & Howe, LLP, Lake Forest

8:15
Registration

8:50
Opening Announcements

9:00 – 10:00
Recent Developments in Federal Estate, Gift and Generation-Skipping Taxes

This session will provide an overview of the new law affecting this area in the last year.
Karen Van Meter, McDermott Will & Emery LLP, Chicago

10:00 – 10:20
BREAK – Please take time to visit with the Program Sponsors

10:20 – 11:20
Federal Income Taxation for Estate Planning & Administration

We will provide an overview of recent developments in income tax matters and the impact on estate planning and administration.
Robert A. Romanoff, Levenfeld Pearlstein LLC, Chicago
Adam Garber, Levenfeld Pearlstein LLC, Chicago

11:20 – 12:20
Illinois Law: Case Decisions & Trends

Get up-to-date on new cases and Illinois legislation specifically applicable to estate planning, estate taxation, trusts, and more.
Ryan A. Walsh, Hamilton Thies & Lorch LLP, Chicago

12:20 – 12:30              
Presentation of Addis E. Hull Award (Champaign Only)

12:30 – 1:30
NETWORKING LUNCH PROVIDED

1:30 – 2:45
FEATURED PRESENTATION:
Standards? We Don’t Need No Stinkin’ Standards!
This session will provide insight about the do’s and don’ts of distribution standards, as well as how they are applied and interpreted in real life.
Jonathan W. Michael, Dykema Gossett PLLC, Chicago, Panel Moderator
Timothy M. Fitzgibbon, U.S. Trust, Private Wealth Management at Bank of America, Chicago
Pamela Lucina, BNY Mellon, Chicago
Stacy E. Singer, Northern Trust, Chicago

2:45 – 3:05
BREAK – Please take time to visit with the Program Sponsors

3:05 – 4:05
Estate Planning for the 99%: "Ordinary" Planning for Married Couples
We will take a fresh look at non-traditional perspectives and opportunities in designing and implementing “ordinary” marital estate planning, being responsive to newer laws and transitionary or uncertain circumstances, and trickle down effects to the spouses’ intended beneficiaries. What might be unique perspectives in marital planning when not planning specifically for taxes, creditors, and Medicaid?
Timothy S. Midura, Huck Bouma P.C., Wheaton

4:05 – 5:05
Momma Always Liked You Best: Mediation as an Alternative for Estate and Trust Disputes
(1.0 Professional Responsibility Credit)
While mediation has been a staple of general civil litigation practice for years, its place in fiduciary litigation is especially appropriate. The presenter will make the case for mediation in all trust and estate litigation, including the provision of a less intimidating forum for amateur litigation parties; the offering of a private setting for the airing of family laundry, dirty or otherwise; and the setting where some parties will gain the simple opportunity to tell their side of the story. He will make the case for selecting a mediator with a background in estates and trusts, and especially in the tax consequences thereof. He will also discuss drafting in contemplation of mediation in post-death disputes, as well as state legislation and judicial programs supporting mediation in this context.
Robert K. Kirkland, Kirkland Woods & Martinsen PC, Liberty, MO

5:05
Adjourn to Networking Reception


DAY TWO

8:15
Registration & Check In

8:40
Opening Announcements

TRACK A

Moderator:
Champaign: Hugh F. Drake, Brown Hay
& Stephens, LLP, Springfield
Chicago: Gregg M. Simon, Much Shelist, PC, Chicago

TRACK B 

Moderator:
Champaign: Jane Denes, Posegate & Denes, P.C., Springfied
Chicago: Lauren J. Wolven, Levenfeld
Pearlstein, LLC, Chicago

8:45

9:45

Charitable Deductions: Basic and Complex Issues
This session will begin with some basic concepts of charitable giving and then proceed to discuss the structure and income, estate and gift tax consequences of charitable gifts of securities, closely held business interests (C corporations, S corporations, partnerships), retirement plans, artwork, bitcoin, stock options, deferred compensation, life insurance, real estate, intellectual property, and cars, boats and planes. In addition, compliance issues and substantiation rules will be reviewed as well as the unique rules that apply to the income tax charitable deduction available to estates and trusts under Section 642(c) of the Internal Revenue Code.
Jeremiah W. Doyle IV, BNY Mellon Wealth Management, Boston

Preventing Post-Death Administrative and Probate Nightmares
There is much that an attorney can accomplish for clients during the estate planning phase and thereafter to allow for the smooth administration of trusts and estates after death. This presentation will highlight red flags and actions that can be taken in response.
Ray J. Koenig III, Clark Hill PLC, Chicago

9:45

9:55

Transition

Transition

9:55

10:55

Can You Keep a Secret? Should You? – Drafting and Administering Silent Trusts
This session will discuss the common law duty to inform beneficiaries about their trust interests and how to draft and administer trusts when the settlor wants to keep the beneficiaries’ interests secret.
Debra M. Doyle, Baker & McKenzie LLP,Chicago
Champaign: Jane Zhao, McDermott Will & Emery LLP, Chicago
Chicago: Jared R. Cloud, McDermott Will & Emery LLP, Chicago

CHAMPAIGN ONLY: Court Adjudication of a Disabled Adult in a Contested Matter – A Practical Approach
This session will entail a case study in a contested matter focusing on the court process and issues for the adjudication of an alleged disabled adult. It will address jury or waiver of jury, testimony of the alleged disabled adult if not able to attend court and much more.
Lorraine Cavataio, Sandberg Phoenix & von Gontard P.C., O’Fallon, Panel Moderator
Hon. Thomas B. Cannady, St. Clair County Circuit Court, Belleville
Brian T. McCarthy, Attorney at Law, Belleville


CHICAGO ONLY: Guardianship Estate Planning: Wills, Trusts, Beneficiary Designations and Tax Planning for Adjudicated Disabled Persons and Minors Learn what planning options are available for Minors and Disabled Persons, pursuant to the Probate Act and the discretion provided the Courts.
David A. Baker, McDermott Will & Emery LLP, Chicago, Panel Moderator
Jean A. Adams, Frequent Guardian Ad Litem, Law Office of Jean Adams, Dolton
Hon. James Riley (Ret.), Cook County Circuit Court, Probate Division, Chicago

10:55

11:15

BREAK - Please take time to visit with the Program Sponsors

BREAK - Please take time to visit with the Program Sponsors

11:15

12:15

The Intersection between Fiduciary Accounting and Tax Accounting
The process of characterizing a receipt of property as income or principal in many trusts can determine which beneficiary will receive the property and how much can be distributed to beneficiaries. This characterization also impacts the allocation of income taxable to the beneficiaries instead of the trust. In this presentation, we will review fundamentals of Fiduciary Accounting and Tax Accounting using real world examples as well as tax traps and the income tax consequences of funding bequests.
David A. Berek, Baker & McKenzie LLP,Chicago
Chicago: Bobbi J. Bierhals, McDermott Will & Emery LLP, Chicago

Estate Planning Aspects of Divorce and Second Marriages
This session will focus on the estate planning and tax issues frequently encountered in second marriages. Topics will include prenuptial and postnuptial agreements, income tax consequences of divorce, addressing obligations from prior marriages,
QTIP and gift trusts, portability elections and gift planning.
Beth K. Flowers, Mathis, Marifian & Richter, LTD.,Belleville
Patrick B. Mathis, Mathis, Marifian & Richter, LTD.,Belleville

12:15

1:30

NETWORKING LUNCH PROVIDED

NETWORKING LUNCH PROVIDED

1:30

2:30

Power of Appointment – Property Law Issues
Come along for a grand tour of the core property law concepts governing powers of appointment, including exercising and disclaiming powers, creditor access, conflict of law issues, as well as the rule against perpetuities. This session will also offer drafting tips and sample will and trust language for use with powers of appointment.
Champaign: Sarah J. Robinson, McDermott Will & Emery LLP, Chicago
Chicago: Adam K. Sherman, McDermott Will & Emery LLP, Chicago

Please, Don’t Put It There: Navigating the Prohibited Transaction and Minimum Distribution Rules in IRAs
IRAs are a major part of many individuals’ investment portfolios. They are subject to important limitations not applicable to taxable accounts that restrict the assets they can hold, the transactions they can engage in, and the options for how they are paid out. This session will focus on the most critical of these rules, and planning to avoid bad investment and distributions decisions.
Champaign: Christine R.W. Quigley, Schiff Hardin LLP, Chicago
Chicago: Thomas W. Abendroth, Schiff Hardin LLP, Chicago

2:30

2:40

Transition

Transition

2:40

3:40

Fleeing Illinois: State Income and Estate Tax Overview for Individuals and Fiduciaries
This session will provide an update on how individuals should document and preserve records in connection with a change of domicile for Illinois income tax and estate tax purposes. This session also will cover factors that trustees should consider in determining whether the situs of a trust can be moved out of Illinois for income tax purposes.
Benetta Park Jenson, J.P. Morgan, Chicago
Mary Kay McCalla Martire, McDermott Will & Emery LLP, Chicago
Chicago: L. Timothy Halleron, McDermott Will & Emery LLP, Chicago

No Estate Tax? No Problem. Advising your clients on updating their LLC Operating Agreements in light of significant changes to the Act
The purposes of this presentation are to highlight the various changes that have recently been made to the Illinois LLC Act, consider the ramifications of such changes, and evaluate what changes should be made to current and future LLC operating agreements. For example, can or should you have an oral operating agreement? What changes should be made regarding fiduciary duties? 
Stephen A. Frost, Huck Bouma P.C., Wheaton
Natalie M. Perry, Barnes & Thornburg LLP, Chicago

3:40

3:50

Transition

Transition

3:50

4:50

Estate Planning As a Team Sport: Attorneys, Accountants and Other Advisors Working Together - Are Your Communications Privileged?
(1.0 Professional Responsibility Credit)
Estate Planning Attorneys often assume all communications with clients are privileged, and clients often make the same assumption that communications about their estate plans will remain confidential regardless of who is involved. But privilege does not apply to all communications, and it is easily waived, putting both client and attorney at risk. This session will examine privilege in the estate planning context, distinguish the work product doctrine, and particularly focus on communications involving accountants, wealth management advisors, and other members of the estate planning team.
Kim Kamin, Gresham Partners, LLC, Chicago, Panel Moderator
David C. Blickenstaff, Schiff Hardin LLP, Chicago
Daniel A. Cook, Deloitte Tax LLP, Chicago

The New ACTEC Engagement Letters: What You Need to Know Now
(1.0 Professional Responsibility Credit)
The Third Edition updates the engagement letters to include letters when you are representing an executor or trustee, letters when you are
representing businesses, and other typical situations for estate planning attorneys. Sections addressing electronic communications, file retention policies, and other issues are now also included. Come discuss how using these letters can enhance your practice and your bottom line while keeping you on the right side of the ethics issues.
Janet Rae Montgomery, Daluga Boland & Montgomery, LLC, Chicago

5:00

Adjourn Program

Adjourn Program

Dates & Locations

  • 5/23 - 24/2018 - Webcast Track A
  • 5/23 - 24/2018 - Webcast Track B

Materials

This product does not contain any materials.

Live In Person
$649.00
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