Agenda
Part I
Lorraine Cavataio, Sandberg Phoenix & von Gontard P.C., O’Fallon
Recent Developments in Federal Estate, Gift and Generation-Skipping Taxes
Learn about new law affecting this area in the last year.
Karen Van Meter, McDermott Will & Emery LLP, Chicago
Federal Income Taxation for Estate Planning & Administration
Understand 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
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
FEATURED PRESENTATION: Just Passing Through: The 20 Percent Deduction for Qualified Business Income
With federal estate tax estimated to affect only 1-in-1,500 families under current law, income tax planning has taken on greater importance. Section 199A is a relatively new provision of the Internal Revenue Code that allows owners of pass-through entities to deduct up to 20 percent of their qualified business income (QBI) … but the statute and proposed regulations are fraught with peril. Are the potential benefits worth it? If so, will your client qualify? Can you benefit from this provision in your law practice? These and many other questions will be addressed … some definitively!
Thomas J. Pauloski, Bernstein Private Wealth Management, Chicago
Doing Diversity Right in the 21st Century
(1.0 Diversity & Inclusion Professional Responsibility Credit)
Organizations promoting diversity and inclusion need support if they are going to make progress. Such support includes critically examining 21st century diversity practices which end up perpetuating unfairness and maintaining the status quo—even when intended to do just the opposite. What are those actions and practices? How is it possible that, for instance, a woman or a person of color can be hurt by a company when a manager assigns them to a diversity committee? Learn about such unsuccessful practices, as well as how firms can rectify such practices in the name of fairness and social justice.
Dr. Joseph D. Minarik, PhD, MSW, MPP, University of Illinois, Urbana
Compassion Fatigue: Sustaining the Professional Self
(1.0 Mental Health & Substance Abuse Professional Responsibility Credit)
Lawyers, like others in the helping professions, are at risk for experiencing compassion fatigue. Lawyers who are regularly exposed to human-induced trauma, are called on to empathetically listen to clients’ stories, have high caseloads, and have a high capacity for empathy may be especially susceptible to experiencing compassion fatigue. Understand what compassion fatigue is, why lawyers are vulnerable to it, professional hazards that contribute to it, and how to become a more resilient attorney. Learn methods to enhance or deplete professionals from a systemic viewpoint as well as coping strategies to minimize compassion fatigue and increase your health and well being.
Chicago: Dr. Diana Uchiyama, JD, Psy.D., Illinois Lawyers’ Assistance Program, Chicago
Champaign: Tate Chambers, U.S. Department of Justice, Columbia, South Carolina
Part II
Moderator: James M. Lestikow, Hinshaw & Culbertson LLP, Springfield | Moderator: Champaign: Jane Denes, Posegate & Denes,P.C., Springfield | |
The New Illinois Uniform Power of Appointment Act | The Perils and Pitfalls of Promissory Notes | |
The Exemption from the Generation-Skipping Transfer Tax (“GST Exemption”): The Basics and Beyond | Family Business Succession Planning | |
Drafting, Understanding and Enforcing Trustee Compensation | Effectively Employing the Tools Provided by a Decedent: Ever-Expanding No Contest Clauses and the Growing Use of Arbitration Clauses | |
Estate Planning with the Increased Federal Exemption (Formulas; Basis; and Use of Federal, State and GST Exemptions) and Building in Flexibility to Maximize Basis Step Up | That’s Not What Mom or Dad Wanted: The Changing Role of Settlor Intent in Estate Planning | |
New and Used Family Limited Partnerships--Where Are We At and What Should We Be Doing? | How Do I Give Thee? Let Me Count the Ways: Public Charities, Donor Advised Funds, Community Foundations, Private Foundations, 501(c)(4) Organizations, L3Cs, Benefit Corporations, B-Corps and Charitable LLCs | |
The Good, the Bad, and the Ugly, but Mostly the Bad and Ugly: Difficult Trust & Estates Clients and How to Deal With Them | Alexa: Prepare My Will! Understanding a Potpourri of Technological Frontiers Affecting the Estate Planning Practice: Unusual Assets (Cryptocurrency & Bitcoin), Electronic Wills and Other Advancements Learn about the latest developments involving unusual assets such as cryptocurrency: how clients can own, titling issues, transfer issues for gifting and at death, and cybersecurity concerns. Understand electronic wills, including the work of the Uniform Law Commission Drafting Committee on Electronic Wills, as well as issues related to remote witnessing, remote notarization, and custody of electronic documents. | |
Agenda
Part I
Lorraine Cavataio, Sandberg Phoenix & von Gontard P.C., O’Fallon
Recent Developments in Federal Estate, Gift and Generation-Skipping Taxes
Learn about new law affecting this area in the last year.
Karen Van Meter, McDermott Will & Emery LLP, Chicago
Federal Income Taxation for Estate Planning & Administration
Understand 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
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
FEATURED PRESENTATION: Just Passing Through: The 20 Percent Deduction for Qualified Business Income
With federal estate tax estimated to affect only 1-in-1,500 families under current law, income tax planning has taken on greater importance. Section 199A is a relatively new provision of the Internal Revenue Code that allows owners of pass-through entities to deduct up to 20 percent of their qualified business income (QBI) … but the statute and proposed regulations are fraught with peril. Are the potential benefits worth it? If so, will your client qualify? Can you benefit from this provision in your law practice? These and many other questions will be addressed … some definitively!
Thomas J. Pauloski, Bernstein Private Wealth Management, Chicago
Doing Diversity Right in the 21st Century
(1.0 Diversity & Inclusion Professional Responsibility Credit)
Organizations promoting diversity and inclusion need support if they are going to make progress. Such support includes critically examining 21st century diversity practices which end up perpetuating unfairness and maintaining the status quo—even when intended to do just the opposite. What are those actions and practices? How is it possible that, for instance, a woman or a person of color can be hurt by a company when a manager assigns them to a diversity committee? Learn about such unsuccessful practices, as well as how firms can rectify such practices in the name of fairness and social justice.
Dr. Joseph D. Minarik, PhD, MSW, MPP, University of Illinois, Urbana
Compassion Fatigue: Sustaining the Professional Self
(1.0 Mental Health & Substance Abuse Professional Responsibility Credit)
Lawyers, like others in the helping professions, are at risk for experiencing compassion fatigue. Lawyers who are regularly exposed to human-induced trauma, are called on to empathetically listen to clients’ stories, have high caseloads, and have a high capacity for empathy may be especially susceptible to experiencing compassion fatigue. Understand what compassion fatigue is, why lawyers are vulnerable to it, professional hazards that contribute to it, and how to become a more resilient attorney. Learn methods to enhance or deplete professionals from a systemic viewpoint as well as coping strategies to minimize compassion fatigue and increase your health and well being.
Chicago: Dr. Diana Uchiyama, JD, Psy.D., Illinois Lawyers’ Assistance Program, Chicago
Champaign: Tate Chambers, U.S. Department of Justice, Columbia, South Carolina
Part II
Moderator: James M. Lestikow, Hinshaw & Culbertson LLP, Springfield | Moderator: Champaign: Jane Denes, Posegate & Denes,P.C., Springfield | |
The New Illinois Uniform Power of Appointment Act | The Perils and Pitfalls of Promissory Notes | |
The Exemption from the Generation-Skipping Transfer Tax (“GST Exemption”): The Basics and Beyond | Family Business Succession Planning | |
Drafting, Understanding and Enforcing Trustee Compensation | Effectively Employing the Tools Provided by a Decedent: Ever-Expanding No Contest Clauses and the Growing Use of Arbitration Clauses | |
Estate Planning with the Increased Federal Exemption (Formulas; Basis; and Use of Federal, State and GST Exemptions) and Building in Flexibility to Maximize Basis Step Up | That’s Not What Mom or Dad Wanted: The Changing Role of Settlor Intent in Estate Planning | |
New and Used Family Limited Partnerships--Where Are We At and What Should We Be Doing? | How Do I Give Thee? Let Me Count the Ways: Public Charities, Donor Advised Funds, Community Foundations, Private Foundations, 501(c)(4) Organizations, L3Cs, Benefit Corporations, B-Corps and Charitable LLCs | |
The Good, the Bad, and the Ugly, but Mostly the Bad and Ugly: Difficult Trust & Estates Clients and How to Deal With Them | Alexa: Prepare My Will! Understanding a Potpourri of Technological Frontiers Affecting the Estate Planning Practice: Unusual Assets (Cryptocurrency & Bitcoin), Electronic Wills and Other Advancements Learn about the latest developments involving unusual assets such as cryptocurrency: how clients can own, titling issues, transfer issues for gifting and at death, and cybersecurity concerns. Understand electronic wills, including the work of the Uniform Law Commission Drafting Committee on Electronic Wills, as well as issues related to remote witnessing, remote notarization, and custody of electronic documents. | |