Our unique Focus Series – Practical Tools Every Planner Should Know provides practical strategies, tools and techniques essential for planning for both your wealthiest clients, and the more modest ones. Topics include planning with GRATs, new issues in modern estate administration, new techniques for charitable giving and philanthropy, planning for retirement benefits, and life insurance policy valuation.
Monday, January 8, 2024 (10:00 a.m. – 12:00 p.m.)
Estate Planning for Modest Estates: Practical Tools Every Planner Should Know
Mickey R. Davis, Melissa J. Willms
Everyone is mortal but not everyone has an ultra-high net worth. Rummage through the estate planning toolbox and review core techniques to use regardless of your clients’ financial situation. Examine practical strategies, tools, and techniques essential for clients who don't need to worry about estate taxes (but that wealthy clients will appreciate too!).
Tuesday, January 9, 2024 (10:25 – 11:15 a.m.)
Modern Estate Administration – New (As Well as Old) Issues Arising After Death
Steve R. Akers
Modern estate administrations involve new issues arising in recent years—as well as a plethora of other practical problems, including possible clawback issues, basis consistency, deductibility of interest on loans, alternate valuation date and market volatility, funding issues, transferee liability, lien waivers, executor and revocable trust trustee personal liability, and … (the practical problems never seem to end). This session will cover these issues and more.
Tuesday, January 9, 2024 (11:35a.m. – 12:25 p.m.)
Grantor Retained Annuity Trusts - Friend or Foe?
Diana S.C. Zeydel
GRATs have been on the legislative chopping block for at least a decade. But like a cat with nine lives, GRATs continue to survive as a valuable planning strategy. This presentation will cover the important rules and innovative uses of GRATs in modern estate planning. What are the requirements? What are the possibilities? Does the math still work in a rising interest rate environment? What can be done if investments underperform? Can you make a graceful exit in the event Congress changes the rules?
Tuesday, January 9, 2024 (2:00 – 2:50 p.m.)
Just How Perpetual Must My Conservation Easement Be?
David J. Dietrich
Over the last 20 years, conservation easement Tax Court rulings, outside of the syndicated easement context, have developed many “perpetuity” requirements which donors must follow to enjoy significant charitable deductions. This program will reference those rulings, and provide practical drafting and negotiating strategies when dealing with “qualified organizations” in conservation easement projects.
Wednesday, January 10, 2024 Special Session I-A (2:00 – 3:30 p.m.)
Modern Estate Administration: A Deeper Dive
Michael H. Barker, Steve R. Akers, Lora G. Davis
This panel presentation will provide an in-depth analysis of important and novel estate administration and tax issues, providing strategies, tips, and best practices to navigate the modern estate.
Wednesday, January 10, 2024 Special Session I-C (2:00 – 3:30 p.m.)
Drafting and Administering Flexible GRATs
Diana S.C. Zeydel, Jonathan G. Blattmachr
When is a GRAT good and when is it bad? A successful GRAT depends on a variety of factors. Several administrative and drafting techniques can be used to ensure compliance with the rules while enhancing the likelihood of a successful GRAT. Attend this session to learn how to maximize the benefits and minimize the risks of planning with GRATs.
Wednesday, January 10, 2024 Special Session II-A (3:50 – 5:20 p.m.)
That Life Insurance Policy May Be Worth More (Or Less) Than You Think!
Donald O. Jansen, Lawrence Brody, Mary Ann Mancini
Policy values for income and gift tax purposes are not the same. This session begins with a basic primer on policies since the type of policy may affect valuation. Next, it will cover income tax values (charitable deduction, sections 402, 79 and 83) followed by a discussion of transfer tax values focused on gift tax regulations.
Thursday, January 11, 2024 (10:25 – 11:15 a.m.)
Floating Cars - Moving Staircases: Understanding the Mystical Rules of Chapter 14 in the Muggle World
N. Todd Angkatavanich
Chapter 14 functions like a mystical layer of potentially draconian rules that can cause unanticipated transfer tax consequences and can undermine family transactions, even where the practitioner might otherwise think that no transfer tax “triggers” exist. This program will provide a primer of critical issues and serve as a practitioner’s guide through the Chapter 14 labyrinth.
Thursday, January 11, 2024 Special Session IV-A (3:50 – 5:20 p.m.)
A Magical Mystery Tour Through the Chapter 14 Labyrinth - Practical Issues and Applications
N. Todd Angkatavanich, Amy E. Heller, Kevin Matz, Adam K. Sherman
This session will take a deep dive into selected Chapter 14 issues and applications in sophisticated family transactions, including family limited partnerships, carried interest planning, preferred partnerships, profits interests, GRATs, sales to grantor trusts, buy-sell agreements, multigenerational split dollar insurance, alternative compensation arrangements and more.
Thursday, January 11, 2024 Special Session IV-C (3:50 – 5:20 p.m.)
Ethical and Practical Challenges in Dealing with Diverse Clients
Steven K. Mignogna, Paula A. Kohut, Cynthia G. Lamar-Hart, Akane R. Suzuki, Michael P. Vito
This program will offer trust and estate professionals practical pointers on how to be more attuned to and effective with a range of equity and inclusivity issues for diverse clients, including for clients of: diverse sexual orientation, gender and gender identity; culture, religion and ethnicity; and abilities.
Friday, January 12, 2024 (9:30 – 11:00 a.m.)
SECURE Is Not a Toddler Anymore
Natalie B. Choate
Four years out, what have we learned about estate planning for retirement benefits in a post-SECURE world? Trust drafting do’s and don’ts. When/how/why to disqualify your own trust. Planning for young vs. old, for large, small, and medium IRAs. How trustees deal with the 10-year rule. Includes navigating the IRS’s proposed restated RMD regulations [or will they be final by January 2024?]
This year’s Institute includes a series of programs on Planning with Trusts. These programs look at innovative techniques for planning, drafting, and administering successful GRATs including how to maximize the benefits and minimize the risks. They also provide a review of recent fiduciary cases, examine the use of directed trusts, and offer a framework for comparing the use of directed trusts, family offices and private trust companies. Finally, the series will untangle the different forms of ESG investing, identify fiduciary hurdles, and provide ideas for beneficiary engagement.
Tuesday, January 9, 2024 (10:25 – 11:15 a.m.)
Modern Estate Administration – New (As Well as Old) Issues Arising After Death
Steve R. Akers
Modern estate administrations involve new issues arising in recent years—as well as a plethora of other practical problems, including possible clawback issues, basis consistency, deductibility of interest on loans, alternate valuation date and market volatility, funding issues, transferee liability, lien waivers, executor and revocable trust trustee personal liability, and … (the practical problems never seem to end). This session will cover these issues and more.
Tuesday, January 9, 2024 (11:35a.m. – 12:25 p.m.)
Grantor Retained Annuity Trusts - Friend or Foe?
Diana S.C. Zeydel
GRATs have been on the legislative chopping block for at least a decade. But like a cat with nine lives, GRATs continue to survive as a valuable planning strategy. This presentation will cover the important rules and innovative uses of GRATs in modern estate planning. What are the requirements? What are the possibilities? Does the math still work in a rising interest rate environment? What can be done if investments underperform? Can you make a graceful exit in the event Congress changes the rules?
Tuesday, January 9, 2024 (3:10 – 4:40 p.m.)
It’s Not Easy Being Green – Is ESG Investing Sustainable for Trustees?
Lauren J. Wolven, Jennifer B. Goode, Amy E. Szostak
Due to conflicting research, ambiguous fiduciary duties, and disparate beneficiary views, many trustees find ESG investing perplexing at best. This session will untangle the different forms of ESG investing, identify fiduciary hurdles, and present drafting ideas and other creative solutions for beneficiary engagement to make being green a little easier.
Wednesday, January 10, 2024 Special Session I-A (2:00 – 3:30 p.m.)
Modern Estate Administration: A Deeper Dive
Michael H. Barker, Steve R. Akers, Lora G. Davis
This panel presentation will provide an in-depth analysis of important and novel estate administration and tax issues, providing strategies, tips, and best practices to navigate the modern estate.
Wednesday, January 10, 2024 Special Session I-C (2:00 – 3:30 p.m.)
Drafting and Administering Flexible GRATs
Diana S.C. Zeydel, Jonathan G. Blattmachr
When is a GRAT good and when is it bad? A successful GRAT depends on a variety of factors. Several administrative and drafting techniques can be used to ensure compliance with the rules while enhancing the likelihood of a successful GRAT. Attend this session to learn how to maximize the benefits and minimize the risks of planning with GRATs.
Thursday, January 11, 2024 (9:30 – 10:20 a.m.)
Slicing and Dicing Fiduciary Duties and Responsibilities Through Directed Trusts
Michael M. Gordon
Directed trusts have exploded in popularity over the past decade. This session will discuss the statutory framework for the use of directed trusts, practical tips on how best to draft directed trusts and how directed trusts can be used to achieve certain tax benefits in the current estate planning environment.
Thursday, January 11, 2024 (11:35 a.m. – 12:25 p.m.)
Foreign Trusts: What You Don’t Know Can Hurt You
Michelle B. Graham
Your clients may have foreign trusts and may not even know it. This session will review the rules on when a trust is classified as a foreign trust versus a domestic trust, along with a discussion of what the classification means in terms of income tax and informational tax reporting for U.S. persons who are grantors or beneficiaries of a foreign trust. The session will also address the penalties associated with the failure to properly report and options to get into compliance.
Thursday, January 11, 2024 Special Session III-A (2:00 – 3:30 p.m.)
Review of the Past Year’s Significant, Curious, or Downright Fascinating Fiduciary Cases
Dana G. Fitzsimons Jr.
This session will review selected reported fiduciary litigation decisions from 2023 that relate to multiple areas of estate planning, estate and trust administration, the fiduciary duties of agents, administrators, trustees, and other fiduciaries, related trial practice, and identifying and navigating contemporary fiduciary challenges.
Thursday, January 11, 2024 Special Session III-B (2:00 – 3:30 p.m.)
Simplifying the Complex: Demystifying Directed Trusts, Family Offices and Private Trust Companies
Michael M. Gordon, John P.C. Duncan, Kim Kamin
Most estate planners are familiar with the general purpose of directed trusts, family offices and private trust companies, but may find them daunting. This panel will simplify the complex by providing a framework for considering each option: what they are and how they can be used, independently or together, to achieve the clients’ goals.
Thursday, January 11, 2024 Special Session III-C (2:00 – 3:30 p.m.)
The Nitty-Gritty of Foreign Trust Taxation
Michelle B. Graham, Glenn G. Fox, Dina Kapur Sanna
In this session, the panelists will delve into the complex U.S. tax rules associated with foreign trusts, including the tax consequences when a trust is a foreign grantor trust and when it is a foreign non-grantor trust, along with the special rules that apply when you have a foreign trust involving a U.S. beneficiary, including the throwback tax, transfers of appreciated property, beneficiary use of trust property, qualified obligations and distributions through intermediaries. The panelists will also discuss tax treatment of controlled foreign corporations and passive foreign investment companies held through foreign trustswill analyze the factors to consider in choosing a jurisdiction for a long-term trust (including practical tips on drafting and administration), offer a review of recent fiduciary cases, provide an advanced level analysis of the developing law of trusts, examine the legal issues and practical considerations involved in removing a recalcitrant trustee, and provide an update on planning with special needs trusts.
This year’s Institute includes a series of programs on Business and Financial Assets. This series of programs explores the new reporting requirements under the Corporate Transparency Act with a focus on family offices and trustees, including compliance tips and ethical considerations. The series will also address the valuation of life insurance policies for income and transfer tax purposes. Finally, the series will provide both a review of the rules under Chapter 14 and an advanced level discussion of how they can cause unanticipated consequences in sophisticated family transactions.
Tuesday, January 9, 2024 (9:30 – 10:20a.m.)
Practical Partnership Panaceas to Common Client Circumstances
Paul S. Lee
An entity taxed as a partnership is the most flexible income tax planning tool for practitioners. Even ignoring the transfer tax benefits, partnerships provide the best planning platform for life insurance, artwork, marketable securities, real property, private equity, venture capital, carried interest, etc. This presentation will discuss the benefits of using partnerships in (and to solve) common estate planning situations and, importantly, how to avoid certain pitfalls.
Wednesday, January 10, 2024 Special Session II-A (3:50 – 5:20p.m.)
That Life Insurance Policy May Be Worth More (Or Less) Than You Think!
Donald O. Jansen, Lawrence Brody, Mary Ann Mancini
Policy values for income and gift tax purposes are not the same. This session begins with a basic primer on policies since the type of policy may affect valuation. Next, it will cover income tax values (charitable deduction, sections 402, 79 and 83) followed by a discussion of transfer tax values focused on gift tax regulations.
Wednesday, January 10, 2024 Special Session II-B (3:50 – 5:20p.m.)
It’s Time to Get Our [CT]Act Together: Trustees, Family Offices, Private Trust Companies and the Corporate Transparency Act
Nancy G. Henderson, Jocelyn Margolin Borowsky, Benetta Y. Park
The beneficial ownership reporting requirements of the Corporate Transparency Act (CTA) become effective on January 1, 2024. The CTA requires the disclosure to FinCEN of the names, physical addresses and other personal information for individuals who control or own more than 25% of many legal entities. This panel presentation will provide an overview of the CTA and, in particular, how the CTA will apply to family offices and trustees, including institutional trustees and private trust companies, with important tips on how to ease the burden of CTA compliance including ethical considerations.
Thursday, January 11, 2024 (10:25 – 11:15a.m.)
Floating Cars - Moving Staircases: Understanding the Mystical Rules of Chapter 14 in the Muggle World
N. Todd Angkatavanich
Chapter 14 functions like a mystical layer of potentially draconian rules that can cause unanticipated transfer tax consequences and can undermine family transactions, even where the practitioner might otherwise think that no transfer tax “triggers” exist. This program will provide a primer of critical issues and serve as a practitioner’s guide through the Chapter 14 labyrinth.
Thursday, January 11, 2024 (11:35a.m. – 12:25p.m.)
Foreign Trusts: What You Don’t Know Can Hurt You
Michelle B. Graham
Your clients may have foreign trusts and may not even know it. This session will review the rules on when a trust is classified as a foreign trust versus a domestic trust, along with a discussion of what the classification means in terms of income tax and informational tax reporting for U.S. persons who are grantors or beneficiaries of a foreign trust. The session will also address the penalties associated with the failure to properly report and options to get into compliance.
Thursday, January 11, 2024 Special Session III-C (2:00 – 3:30p.m.)
The Nitty-Gritty of Foreign Trust Taxation
Michelle B. Graham, Glenn G. Fox, Dina Kapur Sanna
In this session, the panelists will delve into the complex U.S. tax rules associated with foreign trusts, including the tax consequences when a trust is a foreign grantor trust and when it is a foreign non-grantor trust, along with the special rules that apply when you have a foreign trust involving a U.S. beneficiary, including the throwback tax, transfers of appreciated property, beneficiary use of trust property, qualified obligations and distributions through intermediaries. The panelists will also discuss tax treatment of controlled foreign corporations and passive foreign investment companies held through foreign trusts.
Thursday, January 11, 2024 Special Session IV-A (3:50 – 5:20p.m.)
A Magical Mystery Tour Through the Chapter 14 Labyrinth - Practical Issues and Applications
N. Todd Angkatavanich, Amy E. Heller, Kevin Matz, Adam K. Sherman
This session will take a deep dive into selected Chapter 14 issues and applications in sophisticated family transactions, including family limited partnerships, carried interest planning, preferred partnerships, profits interests, GRATs, sales to grantor trusts, buy-sell agreements, multigenerational split dollar insurance, alternative compensation arrangements and more.
Friday, January 12, 2024 (9:30 – 11:00a.m.)
SECURE Is Not a Toddler Anymore
Natalie B. Choate
Four years out, what have we learned about estate planning for retirement benefits in a post-SECURE world? Trust drafting do’s and don’ts. When/how/why to disqualify your own trust. Planning for young vs. old, for large, small, and medium IRAs. How trustees deal with the 10-year rule. Includes navigating the IRS’s proposed restated RMD regulations [or will they be final by January 2024?]
This year’s Institute includes a series of programs on Litigation. These programs cover current issues in estate and gift tax audits and litigation, explore the penalties that can be asserted by the IRS in tax cases, and offer tips on planning to avoid them.
Wednesday, January 10, 2024 (10:25 – 11:15 a.m.)
A View from the Front Lines – Current Issues in Estate and Gift Tax Audits and Litigation
John W. Porter
IRS audits of estate and gift tax returns are on the rise. This discussion will address current issues and trends in the transfer tax controversy arena at the audit level, appeals, and in litigation, including the valuation and transfer of interests in closely-held entities, the use of formula clauses, adequate disclosure of lifetime transfers, and split dollar life insurance. The discussion will include recent caselaw, positions taken by the IRS, and ways to address both at the planning level.
Thursday, January 11, 2024 Special Session III-A (2:00 – 3:30 p.m.)
Review of the Past Year’s Significant, Curious, or Downright Fascinating Fiduciary Cases
Dana G. Fitzsimons Jr.
This session will review selected reported fiduciary litigation decisions from 2023 that relate to multiple areas of estate planning, estate and trust administration, the fiduciary duties of agents, administrators, trustees, and other fiduciaries, related trial practice, and identifying and navigating contemporary fiduciary challenges.
Thursday, January 11, 2024 Special Session IV-B (3:50 – 5:20 p.m.)
Let’s Not Go There—Avoiding Penalties in Tax Court
Kathleen R. Sherby, Mary Elizabeth Anderson, Briana Loughlin
Penalties are asserted by the IRS in almost every case before the Tax Court. This program will analyze the various penalty provisions under the Tax Code and other provisions of the U.S. Code that the IRS has available to impose in tax cases and will discuss planning considerations to avoid those penalties.
This year’s Institute includes a series of programs on International Planning. These programs review the rules on when a trust is classified as a foreign trust versus a domestic trust including the income tax and informational tax reporting requirements for U.S. grantors or beneficiaries of a foreign trust, penalties associated with the failure to properly report, and how to get back into compliance. A separate panel presentation will further examine the complex U.S. tax rules associated with foreign grantor and non-grantor trusts, including the special rules that apply when you have a foreign trust involving a U.S. beneficiary.
Wednesday, January 10, 2024 Special Session II-B (3:50 – 5:20p.m.)
It’s Time to Get Our [CT]Act Together: Trustees, Family Offices, Private Trust Companies and the Corporate Transparency Act
Nancy G. Henderson, Jocelyn Margolin Borowsky, Benetta Y. Park
The beneficial ownership reporting requirements of the Corporate Transparency Act (CTA) become effective on January 1, 2024. The CTA requires the disclosure to FinCEN of the names, physical addresses and other personal information for individuals who control or own more than 25% of many legal entities. This panel presentation will provide an overview of the CTA and, in particular, how the CTA will apply to family offices and trustees, including institutional trustees and private trust companies, with important tips on how to ease the burden of CTA compliance including ethical considerations.
Thursday, January 11, 2024 (11:35a.m. – 12:25p.m.)
Foreign Trusts: What You Don’t Know Can Hurt You
Michelle B. Graham
Your clients may have foreign trusts and may not even know it. This session will review the rules on when a trust is classified as a foreign trust versus a domestic trust, along with a discussion of what the classification means in terms of income tax and informational tax reporting for U.S. persons who are grantors or beneficiaries of a foreign trust. The session will also address the penalties associated with the failure to properly report and options to get into compliance.
Thursday, January 11, 2024 Special Session III-C (2:00 – 3:30p.m.)
The Nitty-Gritty of Foreign Trust Taxation
Michelle B. Graham, Glenn G. Fox, Dina Kapur Sanna
In this session, the panelists will delve into the complex U.S. tax rules associated with foreign trusts, including the tax consequences when a trust is a foreign grantor trust and when it is a foreign non-grantor trust, along with the special rules that apply when you have a foreign trust involving a U.S. beneficiary, including the throwback tax, transfers of appreciated property, beneficiary use of trust property, qualified obligations and distributions through intermediaries. The panelists will also discuss tax treatment of controlled foreign corporations and passive foreign investment companies held through foreign trusts.
This year’s Institute features a series of programs on Charitable Giving and Philanthropy. This series of programs examines planning with conservation easements, including the many “perpetuity” requirements developed in Tax Court rulings outside of the syndicated easement context. The programs also explore issues involved in ESG and social welfare activity, including potential hurdles for fiduciaries, planning and drafting ideas, and alternative ways for philanthropists to have an impact that goes beyond traditional grantmaking.
Tuesday, January 9, 2024 (2:00 – 2:50 p.m.)
Just How Perpetual Must My Conservation Easement Be?
David J. Dietrich
Over the last 20 years, conservation easement Tax Court rulings, outside of the syndicated easement context, have developed many “perpetuity” requirements which donors must follow to enjoy significant charitable deductions. This program will reference those rulings, and provide practical drafting and negotiating strategies when dealing with “qualified organizations” in conservation easement projects.
Tuesday, January 9, 2024 (3:10 – 4:40 p.m.)
It’s Not Easy Being Green – Is ESG Investing Sustainable for Trustees?
Lauren J. Wolven, Jennifer B. Goode, Amy E. Szostak
Due to conflicting research, ambiguous fiduciary duties, and disparate beneficiary views, many trustees find ESG investing perplexing at best. This session will untangle the different forms of ESG investing, identify fiduciary hurdles, and present drafting ideas and other creative solutions for beneficiary engagement to make being green a little easier.
Wednesday, January 10, 2024 (9:30 – 10:20 a.m.)
“Goodbye Chapter 42” - The New World of Social Welfare Philanthropy
Brad Bedingfield
The enactment of section 2501(a)(6) of the Code, excluding gifts to 501(c)(4), (c)(5) and (c)(6) organizations from the gift tax, has opened up new horizons for those wanting to have an impact while avoiding application of the private foundation rules. In this session, we will walk through the options for setting up and managing these vehicles, and how each might be used to further a donor’s impact objectives, while navigating the tax rules related to the unrelated business income tax, the section 527(f) tax on political expenditures, taxes on excess compensation, and potential inclusion of assets in a donor’s estate under section 2036.
Wednesday, January 10, 2024 Special Session II-C (3:50 – 5:20 p.m.)
“50 Ways to Leave Your Legacy” – Social Welfare Activity, Program-Related Investments, and Other Alternatives to Grantmaking
Brad Bedingfield, Meghan R. Biss, Michele A.W. McKinnon
Increasingly, high net worth philanthropists are seeking ways to have impact that goes beyond traditional grantmaking. Foundations and donor-advised funds can make program-related or mission-related investments instead of grants. Use of certain non-501(c)(3) vehicles might allow for a broader set of tools for effecting change, including lobbying, political activities, and even support for workers or businesses. The panel will discuss examples of how donors have deployed these strategies, and the potential trade-offs and unexpected complications that may arise when expanding beyond charitable grantmaking.
This year’s Institute includes a series of programs on Ethics, Technology, Diversity and Elimination of Bias. This series analyzes reporting requirements and ethical considerations under the new Corporate Transparency Act, including their application to family offices and trustees. It also examines emerging issues, best practices, and ethical duties for the technological solutions available for cybersecurity, data protection, and artificial intelligence. Finally, the series offers practical pointers on how to be more attuned to and effective with a range of equity and inclusivity issues for diverse clients.
Wednesday, January 10, 2024 Special Session I-B (2:00 – 3:30p.m.)
The Estate Planner’s Guide to the Galaxy: Navigating the Brave New World of Cybersecurity, Privacy, and Ethics
Jeff Chadwick, R. Kris Coleman, Elizabeth Vandesteeg
Clients expect their estate planning advisors to be responsive and their communications to be private. While technology can certainly help with responsiveness, it can also increase the risk of a data breach. This panel will explore emerging issues, best practices, and ethical duties for cybersecurity, data protection, and artificial intelligence.
Wednesday, January 10, 2024 Special Session II-B (3:50 – 5:20p.m.)
It’s Time to Get Our [CT]Act Together: Trustees, Family Offices, Private Trust Companies and the Corporate Transparency Act
Nancy G. Henderson, Jocelyn Margolin Borowsky, Benetta Y. Park
The beneficial ownership reporting requirements of the Corporate Transparency Act (CTA) become effective on January 1, 2024. The CTA requires the disclosure to FinCEN of the names, physical addresses and other personal information for individuals who control or own more than 25% of many legal entities. This panel presentation will provide an overview of the CTA and, in particular, how the CTA will apply to family offices and trustees, including institutional trustees and private trust companies, with important tips on how to ease the burden of CTA compliance including ethical considerations.
Thursday, January 11, 2024 Special Session IV-C (3:50 – 5:20p.m.)
Ethical and Practical Challenges in Dealing with Diverse Clients
Steven K. Mignogna, Paula A. Kohut, Cynthia G. Lamar-Hart, Akane R. Suzuki, Michael P. Vito
This program will offer trust and estate professionals practical pointers on how to be more attuned to and effective with a range of equity and inclusivity issues for diverse clients, including for clients of: diverse sexual orientation, gender and gender identity; culture, religion and ethnicity; and abilities.
This year’s Institute includes a series of programs on Fundamentals. These programs offer practical strategies, tools and techniques that all planners should know to effectively serve both their high net worth and their more modest clients. They also provide a primer on life insurance policies and explain policy valuation. Finally, they provide both an introduction and an advanced look at the rules of Chapter 14, and the unanticipated consequences that can arise under those rules to undermine family transactions.
Monday, January 8, 2024 (10:00 a.m. – 12:00 p.m.)
Estate Planning for Modest Estates: Practical Tools Every Planner Should Know
Mickey R. Davis, Melissa J. Willms
Everyone is mortal but not everyone has an ultra-high net worth. Rummage through the estate planning toolbox and review core techniques to use regardless of your clients’ financial situation. Examine practical strategies, tools, and techniques essential for clients who don't need to worry about estate taxes (but that wealthy clients will appreciate too!).
Wednesday, January 10, 2024 (Special Session II-A (3:50 – 5:20 p.m.)
That Life Insurance Policy May Be Worth More (Or Less) Than You Think!
Donald O. Jansen, Lawrence Brody, Mary Ann Mancini
Policy values for income and gift tax purposes are not the same. This session begins with a basic primer on policies since the type of policy may affect valuation. Next, it will cover income tax values (charitable deduction, sections 402, 79 and 83) followed by a discussion of transfer tax values focused on gift tax regulations.
Thursday, January 11, 2024 (10:25 – 11:15 a.m.)
Floating Cars - Moving Staircases: Understanding the Mystical Rules of Chapter 14 in the Muggle World
N. Todd Angkatavanich
Chapter 14 functions like a mystical layer of potentially draconian rules that can cause unanticipated transfer tax consequences and can undermine family transactions, even where the practitioner might otherwise think that no transfer tax “triggers” exist. This program will provide a primer of critical issues and serve as a practitioner’s guide through the Chapter 14 labyrinth.
