64th Annual Estate Planning Short Course (2021)
Expires: 5/1/2023
DAY ONE
Moderated By: Pamela Lucina, Northern Trust, Chicago
Recent Developments in Federal Estate, Gift and Generation-Skipping Taxes
Karen Van Meter, McDermott Will & Emery LLP, Chicago
Federal Income Taxation for Estate Planning & Administration
Robert A. Romanoff, Levenfeld Pearlstein LLC, Chicago 
Adam Garber, Levenfeld Pearlstein LLC, Chicago
Illinois Law: Case Decisions & Trends
Ryan A. Walsh, Hamilton Thies & Lorch LLP, Chicago
FEATURED PRESENTATION: Estate Planning and Trust Administration Under the Illinois Trust Code: Top 10 Changes to How We Administer Trusts and/or Practice Law
Now that we have been living with the Illinois Trust Code for over a year, hear from a practitioner and a trustee about lessons learned, pitfalls to avoid and suggestions to smooth the road ahead.
Natalie M. Perry, Harrison & Held, LLP, Chicago
Stacy E. Singer, Northern Trust, Chicago
Managing Your Estate Planning Practice in a Virtual World
(1.0 Professional Responsibility credit)
Connecting with clients and other professionals by phone or video conference has become the norm for most practitioners. A virtual estate planning practice presents new ethical concerns, security risks, and an increased likelihood of electronic wills. Learn how to effectively manage these new challenges.
Lorraine Cavataio, Sandberg Phoenix, O’Fallon
Steven L. Kriz, Levenfeld Pearlstein, LLC, Chicago
Ray Prather, Prather Ebner LLP, Chicago
What Does Red-Lining Have to Do with Trusts and Estates?
(1.0 Diversity & Inclusion Professional Responsibility credit)
Few diverse lawyers are members of the trusts and estates bar and the pipeline is not particularly encouraging. Learn more about the diversity challenges facing the trusts and estates bar and the unique impact of such challenges. Also, get tips for increasing diversity in your practice (regardless of size) as well as in the trusts and estates bar more generally. This engaging session will help you feel empowered to make a difference and leave a legacy.
Lindsey D. G. Dates, Barnes & Thornburg LLP, Chicago
Adjourn Day 1
DAY TWO
| TRACK A | TRACK B |
Moderator: David A. Berek, Baker & McKenzie LLP, Chicago | Moderator: Kim Kamin, Gresham Partners, LLC, Chicago |
Walking Through the Preparation of an Estate Tax Return and a Gift Tax Return Review the steps for properly preparing and filing estate and gift tax returns, including valuation methods, valuation discounts, Section 2032A elections, Section 6166 elections, QTIP elections (including Illinois) and GST elections. | Intersection of Alternative Investments & Estate Planning: Taxation, Planning and Fiduciary Risk Issues There are good reasons to hold alternative investments in trust and other estate planning vehicles, but these assets can be complicated and they present special risks for fiduciaries and beneficiaries alike. Understand the characteristics of alternatives, the risks associated with them, and how the risks can be addressed in the estate planning process and in trust and estate administration. |
Know Your Tool Kit: How Planners Can Address Select Guardianship and Public Benefits Concerns As life “happens” to our aging clients, their needs can change in unimaginable ways. Sometimes, they need protection from bad actors. Sometimes, they unwittingly become a bad actor. Sometimes, they have caregiving needs at great expense. This session will cover the legal rules that you will face and the solutions you can offer when protecting clients in some of these circumstances. | Beyond Taxes: Securities Law Considerations for the Estate Planner Explore various compliance requirements and planning alternatives from the perspectives of a corporate attorney, an estate planner, and a corporate fiduciary. Learn about practical application of securities law, emphasizing situations that repeatedly arise in the context of estate planning and trust administration, including: accredited investors and qualified purchasers; special provisions applicable to trusts and closely held entities; information disclosure requirements and anti-fraud provisions; and registration requirements and relevant exemptions. |
The SECURE (“Setting Every Community Up for Retirement Enhancement” or “Sending Everyone Cowering Under Reduced Expectations”) Act and other Recent Developments in Estate Planning for Retirement Assets The SECURE Act brought a sea change in estate planning for retirement benefits. Understand the latest developments with respect to retirement assets and other recent happenings in this area. | Promissory Notes – Everybody is Doing Them, But are They Doing Them Correctly? Opportunities to Maximize Related Planning Benefits and Minimize Corresponding Risks Learn about the opportunities loans may provide in the current environment and how to mitigate certain risks when making such loans. |
Proper Care and Feeding of an Estate Plan: How to Prepare Better For Post-Death Administration of Estates and Trusts Long Before The Client Actually Dies Once estate planning documents have been signed and assets have been retitled, clients may feel like they are “finished” with their planning. Typically, they put their documents in a drawer and assume that their executor or trustee will deal with everything post death. Understand the importance of organizing and updating asset and liability information, share ideas for dealing with tricky assets and minimizing the risk of family conflict, and review the importance of documenting certain wishes that may not be expressly written into the will or trust. Learn about effective communication techniques with and among the plan’s key stakeholders. | What Did We Do Last Year? Post-Inauguration Planning Strategies (SLATs, GRATs, IDGTs, QPRTs and more!) Many clients used specific estate planning techniques prior to year end based on projections about who would be President, the makeup of Congress, anticipated estate tax laws, and predictions about the economy and interest rates. Now that some of these issues are settled, we will review available estate planning techniques and discuss how to fix what we did and resolve client remorse. |
Water the Family Tree: Adding Value for Clients Learn how you can add value for your estate planning clients, by facilitating family meetings, governance and communication structures; family offices; and multi-generational plans across the wealth spectrum. | Yin and Yang of Charitable Giving: Tax and Practical Aspects of Gifts To and Grants From Charities Understand the tax and legal aspects of contributions to charitable organizations – and the use and distribution of those funds by the charities. Includes practical aspects of drafting related documents, such as gift acceptance policies, gift agreements investment policies and grant agreements. |
Can Trusts be Creditor-Proof? Learn what you need to know about creditor rights and spendthrift trusts under Article Five of the Illinois Trust Code, and drafting and administering trusts for creditor protection. | Never Out of Style: Charitable Solutions for Today (aka Strategic Generosity 2021) Now is one of the best times to take advantage of charitable solutions to help clients make an impact in their communities, transfer value and values to their families and manage their taxes. From affluent to ultra-high net worth, whether an artist, executive, professional or inheritor, there is a charitable strategy to consider. With interest rates that recently trended to new lows and tax law changes such as the SECURE Act, advisors have a robust tool kit filled with both familiar and novel charitable planning solutions. Learn what motivates donors and why many advisors are recommending charitable trusts, gift annuities, and donor advised funds for gifts of cash, retirement assets, securities and unique assets now more than ever. Also, not to be overlooked, is the cornerstone of our advice -- strategic generosity matters. |
Adjourn
= IICLE® Publications Author
BONUS E-LEARN SESSION (access it through your online IICLE® account at your convenience after the program)
Forrest Gump and the Practice of Law: Did you Know That Stress Reducing Techniques for Lawyers are Also Life Enhancing Strategies?
(1.0 Mental Health & Substance Abuse Professional Responsibility)
Life is stressful enough and law practice even more so. Given all that has recently, it is more important than ever for lawyers to address their physical, mental and even spiritual health. Lawyers who are healthy and happy are just better at what they do professionally. This presentation will explore those issues and provide tips and thoughts on how to achieve work-life balance and improve health and satisfaction with life.
Jason S. Ornduff, Harrison & Held, LLP, Chicago
Expires: 5/1/2023
DAY ONE
Moderated By: Pamela Lucina, Northern Trust, Chicago
Recent Developments in Federal Estate, Gift and Generation-Skipping Taxes
Karen Van Meter, McDermott Will & Emery LLP, Chicago
Federal Income Taxation for Estate Planning & Administration
Robert A. Romanoff, Levenfeld Pearlstein LLC, Chicago
Adam Garber, Levenfeld Pearlstein LLC, Chicago
Illinois Law: Case Decisions & Trends
Ryan A. Walsh, Hamilton Thies & Lorch LLP, Chicago
FEATURED PRESENTATION: Estate Planning and Trust Administration Under the Illinois Trust Code: Top 10 Changes to How We Administer Trusts and/or Practice Law
Now that we have been living with the Illinois Trust Code for over a year, hear from a practitioner and a trustee about lessons learned, pitfalls to avoid and suggestions to smooth the road ahead.
Natalie M. Perry, Harrison & Held, LLP, Chicago
Stacy E. Singer, Northern Trust, Chicago
Managing Your Estate Planning Practice in a Virtual World
(1.0 Professional Responsibility credit)
Connecting with clients and other professionals by phone or video conference has become the norm for most practitioners. A virtual estate planning practice presents new ethical concerns, security risks, and an increased likelihood of electronic wills. Learn how to effectively manage these new challenges.
Lorraine Cavataio, Sandberg Phoenix, O’Fallon
Steven L. Kriz, Levenfeld Pearlstein, LLC, Chicago
Ray Prather, Prather Ebner LLP, Chicago
What Does Red-Lining Have to Do with Trusts and Estates?
(1.0 Diversity & Inclusion Professional Responsibility credit)
Few diverse lawyers are members of the trusts and estates bar and the pipeline is not particularly encouraging. Learn more about the diversity challenges facing the trusts and estates bar and the unique impact of such challenges. Also, get tips for increasing diversity in your practice (regardless of size) as well as in the trusts and estates bar more generally. This engaging session will help you feel empowered to make a difference and leave a legacy.
Lindsey D. G. Dates, Barnes & Thornburg LLP, Chicago
Adjourn Day 1
DAY TWO
| TRACK A | TRACK B |
Moderator: David A. Berek, Baker & McKenzie LLP, Chicago | Moderator: Kim Kamin, Gresham Partners, LLC, Chicago |
Walking Through the Preparation of an Estate Tax Return and a Gift Tax Return Review the steps for properly preparing and filing estate and gift tax returns, including valuation methods, valuation discounts, Section 2032A elections, Section 6166 elections, QTIP elections (including Illinois) and GST elections. | Intersection of Alternative Investments & Estate Planning: Taxation, Planning and Fiduciary Risk Issues There are good reasons to hold alternative investments in trust and other estate planning vehicles, but these assets can be complicated and they present special risks for fiduciaries and beneficiaries alike. Understand the characteristics of alternatives, the risks associated with them, and how the risks can be addressed in the estate planning process and in trust and estate administration. |
Know Your Tool Kit: How Planners Can Address Select Guardianship and Public Benefits Concerns As life “happens” to our aging clients, their needs can change in unimaginable ways. Sometimes, they need protection from bad actors. Sometimes, they unwittingly become a bad actor. Sometimes, they have caregiving needs at great expense. This session will cover the legal rules that you will face and the solutions you can offer when protecting clients in some of these circumstances. | Beyond Taxes: Securities Law Considerations for the Estate Planner Explore various compliance requirements and planning alternatives from the perspectives of a corporate attorney, an estate planner, and a corporate fiduciary. Learn about practical application of securities law, emphasizing situations that repeatedly arise in the context of estate planning and trust administration, including: accredited investors and qualified purchasers; special provisions applicable to trusts and closely held entities; information disclosure requirements and anti-fraud provisions; and registration requirements and relevant exemptions. |
The SECURE (“Setting Every Community Up for Retirement Enhancement” or “Sending Everyone Cowering Under Reduced Expectations”) Act and other Recent Developments in Estate Planning for Retirement Assets The SECURE Act brought a sea change in estate planning for retirement benefits. Understand the latest developments with respect to retirement assets and other recent happenings in this area. | Promissory Notes – Everybody is Doing Them, But are They Doing Them Correctly? Opportunities to Maximize Related Planning Benefits and Minimize Corresponding Risks Learn about the opportunities loans may provide in the current environment and how to mitigate certain risks when making such loans. |
Proper Care and Feeding of an Estate Plan: How to Prepare Better For Post-Death Administration of Estates and Trusts Long Before The Client Actually Dies Once estate planning documents have been signed and assets have been retitled, clients may feel like they are “finished” with their planning. Typically, they put their documents in a drawer and assume that their executor or trustee will deal with everything post death. Understand the importance of organizing and updating asset and liability information, share ideas for dealing with tricky assets and minimizing the risk of family conflict, and review the importance of documenting certain wishes that may not be expressly written into the will or trust. Learn about effective communication techniques with and among the plan’s key stakeholders. | What Did We Do Last Year? Post-Inauguration Planning Strategies (SLATs, GRATs, IDGTs, QPRTs and more!) Many clients used specific estate planning techniques prior to year end based on projections about who would be President, the makeup of Congress, anticipated estate tax laws, and predictions about the economy and interest rates. Now that some of these issues are settled, we will review available estate planning techniques and discuss how to fix what we did and resolve client remorse. |
Water the Family Tree: Adding Value for Clients Learn how you can add value for your estate planning clients, by facilitating family meetings, governance and communication structures; family offices; and multi-generational plans across the wealth spectrum. | Yin and Yang of Charitable Giving: Tax and Practical Aspects of Gifts To and Grants From Charities Understand the tax and legal aspects of contributions to charitable organizations – and the use and distribution of those funds by the charities. Includes practical aspects of drafting related documents, such as gift acceptance policies, gift agreements investment policies and grant agreements. |
Can Trusts be Creditor-Proof? Learn what you need to know about creditor rights and spendthrift trusts under Article Five of the Illinois Trust Code, and drafting and administering trusts for creditor protection. | Never Out of Style: Charitable Solutions for Today (aka Strategic Generosity 2021) Now is one of the best times to take advantage of charitable solutions to help clients make an impact in their communities, transfer value and values to their families and manage their taxes. From affluent to ultra-high net worth, whether an artist, executive, professional or inheritor, there is a charitable strategy to consider. With interest rates that recently trended to new lows and tax law changes such as the SECURE Act, advisors have a robust tool kit filled with both familiar and novel charitable planning solutions. Learn what motivates donors and why many advisors are recommending charitable trusts, gift annuities, and donor advised funds for gifts of cash, retirement assets, securities and unique assets now more than ever. Also, not to be overlooked, is the cornerstone of our advice -- strategic generosity matters. |
Adjourn
= IICLE® Publications Author
BONUS E-LEARN SESSION (access it through your online IICLE® account at your convenience after the program)
Forrest Gump and the Practice of Law: Did you Know That Stress Reducing Techniques for Lawyers are Also Life Enhancing Strategies?
(1.0 Mental Health & Substance Abuse Professional Responsibility)
Life is stressful enough and law practice even more so. Given all that has recently, it is more important than ever for lawyers to address their physical, mental and even spiritual health. Lawyers who are healthy and happy are just better at what they do professionally. This presentation will explore those issues and provide tips and thoughts on how to achieve work-life balance and improve health and satisfaction with life.
Jason S. Ornduff, Harrison & Held, LLP, Chicago
| Program Date | 5/24 & 5/25/2021 |
| Program Date | 5/24 & 5/25/2021 |