ESTATE PLANNING COUNCIL OF GREATER MIAMI

SYMPOSIUM AGENDA

8:00 – 8:30am - Breakfast, Registration and Networking with Sponsors

8:30 – 8:45am - Welcome and Introductions

8:45 – 9:35am - Trust Drafting – What Trustees Love (And Hate) - Tami F. Conetta, JD, Trust and Advisory Practice Executive, East Region, The Northern Trust Company, Sarasota, FL

This presentation will provide a fiduciary’s perspective on how specific trust provisions function in the real world of trust administration. We will consider both typical and not-so-typical language seen in trust instruments, including discretionary distribution provisions, investment powers, trust protectors and directed trustee provisions, and administrative powers. The discussion will focus on how the draftsperson can draft language that will address common administrative issues and avoid language that could cause a trustee consternation.

9:35 – 9:45am - Break and Sponsor Introductions

9:45 – 10:45am - Life Insurance in the Age of Fiduciary Duties: What Every Estate Planner Needs to Know - Richard M. Weber, MBA, CLU, AEP (Distinguished), The Ethical Edge, Inc.,  Pleasant Hill, CA

This presentation provides a unique perspective in assessing life insurance options and recommendations through the language and standard tools of financial planning. Non-insurance trained advisors as well as professional career agents will learn new approaches for how risk transfer assets such as life insurance can complete a financial and/or estate plan. The session will address such important issues as: s Using customized Investment Policy Statements to meet long-term insurance objectives; s How risk tolerance informs optimal selection of policy styles and funding of policies; and s It’s not “what will it cost,” but rather “how long will you need/use life insurance” that helps construct a portfolio of policies to more efficiently serve the client in a way that increases investment portfolio return while reducing risk in a long-term portfolio.

10:45 – 11:00am - Break and Networking with Sponsors

11:00am – 12:00pm - IRS and Practitioner Perspectives Associated with Estate and Gift Tax Return Examination - Robert S. Blumenfeld, Esq. , Estate Tax & Estate Tax Audit Attorney, Marini & Associates, P.A.,  Miami, FL; Anita Friedlander, Esq., IRS Audit & Appeals Tax Attorney, Marini & Associates, P.A.,  Miami, FL; Ronald A. Marini, Esq., IRS & International Tax Attorney, Marini & Associates, P.A.,  Miami, FL; Mark Scott, JD, LL.M., Principal, Estate & Trust Services, Kaufman Rossin,  Miami, FL

This moderated panel discussion will focus on the considerations that are relevant to preparing estate and gift tax returns. The panel includes former IRS agents that have extensive experience with tax compliance examinations. The discussion will include advice at each important level of the process, including preparation, preliminary information document request, examining agent, and appeals.

12:00 – 1:15pm - Luncheon and Networking with Sponsors

1:15 – 2:05pm - Putting It All Together: Some of the Best Estate Planning Strategies We See That Reduce Both Income And Estate Taxes in the Uncertain Age of Tax Reform© - PART I - S. Stacy Eastland, JD, Managing Director, Investment Management Division, Goldman Sachs & Co. LLC, Houston, TX

This presentation will focus on planning strategies that both lower a wealthy taxpayer’s potential transfer taxes and income taxes.  The presentation will explore the advantages and considerations of various strategies.  Among the strategies that will be explored include the following:  a strategy that combines the best advantages of a sale to a GST grantor trust and a GRAT without the considerations; strategies in which the assets of a grantor trust can receive a step-up in basis on the grantor’s death; a strategy that simulates selling a low basis asset without capital gains taxes and eliminates estate taxes for the taxpayer that would like 20% of his estate to go to charity; lifetime charitable gifting strategies that maximize tax subsidization; family partnership strategies that substantially lower capital gains taxes; post mortem strategies that simulate a $45 million credit shelter trust; and a strategy where for every $1 that is included in a decedent’s estate there is a $4 step-up in basis.

2:05 – 2:15pm - Break and Sponsor Introductions

2:15 – 3:05pm - Putting It All Together: Some of the Best Estate Planning Strategies We See That Reduce Both Income And Estate Taxes in the Uncertain Age of Tax Reform© - PART II - S. Stacy Eastland, JD, Managing Director, Investment Management Division, Goldman Sachs & Co. LLC, Houston, TX

3:05 – 3:20pm - Break and Networking with Sponsors

3:20 – 4:20pm - Asset Protection for Business Owners and Entities - Alan S. Gassman, Esq., Gassman, Crotty & Denicolo, P.A., Clearwater, FL 

This presentation will provide unique and effective strategies for the protection of business and professional entities and their owners, and also discuss traps for the unwary, tax advantages and disadvantages and how succession planning may impact decisions and design associated therewith.  The session will discuss: How to use debt, leverage, and leasing arrangements to protect business and professional assets;  How to use and implement separate entity structures in a tax advantageous manner; Understanding what arms-length family and multiple owner arrangements can be used to provide lasting protection in a tax advantaged or tax neutral manner; How to integrate the above planning with the personal planning of owners and key employees; and  How to explain these concepts to clients and other advisors. 

4:20 – 4:25pm - Break

4:25 – 5:15pm - Basis and Migrating Clients from Community Property States and The Power of Appointment Support Trust - Lester B. Law, Esq., Franklin Karibjanian & Law PLLC, Naples, FL

Couples migrate to the great state of Florida every day, coming from various jurisdictions, including community property states.  For those migrating couples from community property states, they potentially give up the so-called “double basis adjustments” upon the death of the first spouse.  Many believe that in Florida the Uniform Disposition of Community Property at Death Act (“UPCPDA”) may preserve the double basis adjustment – we believe it is not crystal clear.  We will discuss the issues surrounding the UDCPDA and some planning suggestions that may work, and also discuss Florida’s proposal for a new Community Trust Act.  Additionally, we will discuss the tax and estate planning benefits of using a Power of Appointment Support Trust (“POAST”) for those wealthier children who have parents who may otherwise be wasting their lifetime exclusion and GST exemption amounts.

5:15pm - Conclusion and Raffles

To View Speakers Bios click here

CONTINUING EDUCATION

7.5 hrs FL CLE (Tax Law – 7.5 hrs; Wills, Trusts and Estates – 7.5 hrs); 7 hrs CFP CE; 7 hrs FL insurance CE; 7.75 CTFA credits; qualifies for 7 hrs of self-reported CPE for FL CPAs