Southern Federal Tax Institute Southern Federal Tax Institute 2107 North Decatur Road, PMB 521, Decatur, Georgia 30033
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Estate Planning
Day 1 – ESTATE AND GIFT TAXATION
THURSDAY MORNING, OCTOBER 26, 2017
Kimberly H. Stogner,
Presiding

8:00-
9:45
Recent Estate and Gift Planning Developments – This session details significant court decisions, rulings, and statutory and regulatory developments relating to trust and wealth transfer taxes over the past twelve months.
Samuel A. Donaldson, Professor of Law, Georgia State University College of Law, Atlanta, GA
9:45-
10:00
Break
10:00-
11:00
Anticipating Audit Arguments: A Litigator’s List of Tactical Tips – This session provides practical tips regarding recent developments in audits and case law concerning the creation and maintenance of family limited partnerships – all with an eye toward minimizing issues on audit. Topics include advising clients on proper entity formation and operation, optimizing partnership maintenance to minimize IRS attacks, and protecting and asserting privileges throughout the process.
Stephanie Loomis-Price, Winstead PC, Houston, TX
11:00-
12:00
Overview of Estate Planning for the International Client – This presentation provides an overview of U.S. estate planning for the international client. Topics covered include citizenship, residency, and domicile; general principles of international U.S. wealth transfer taxation; definitions of U.S. and non-U.S. property; foreign tax credits; treaty provisions; and special rules. Examples and practice pointers also are provided.
R. Mark Williamson, Alston & Bird LLP, Atlanta, GA
12:15-
1:05
Mid-day Program: Hot Topics in Estate Planning from a Business Valuation Expert’s Perspective – This program will cover the most pressing valuation topics in estate and gift tax planning, including the impact of any recent changes to the IRC.
Sponsored by MPI and presented by Todd Povlich

THURSDAY AFTERNOON, OCTOBER 26, 2017
Alan F. Rothschild, Jr.,
Presiding

1:15-
2:15
OOPS! The 50+ Most Common Life Insurance Planning Mistakes– This panel presentation identifies common life insurance planning mistakes in trust, estate, and employee benefits contexts, including suggestions on how to avoid (or possibly correct) mistakes.
Donald O. Jansen, University of Texas System, Austin, TX
Lawrence “Larry” Brody, Bryan Cave, LLP, St. Louis, MO
Lawton M. “Mac” Nease, III, Nease, Lagana, Eden & Culley, Inc., Atlanta, GA
2:15-
3:15
Challenges in Recognizing and Representing Clients with Diminishing Capacity – Individuals age 65 or older represent about 15% of the U.S. population. This figure continues to rise, with 10,000 Baby Boomers turning age 65 every day. Unfortunately, longer lives often are accompanied by diminished mental capacity and increased vulnerability. Such clients present complex ethical challenges for professional advisors. Does an advisor have an obligation to determine capacity? If so, how? Should an advisor pursue protective proceedings on behalf of a client notwithstanding the advisor’s competing duties of confidentiality and loyalty? Using examples from cases that have achieved notoriety in recent years, this presentation explores the challenges of working with clients who have diminished capacity, or who are otherwise vulnerable.
Mary F. Radford, Marjorie Fine Knowles Professor of Law, Georgia State University College of Law, Atlanta, GA
(Submitted for 1.0 hour of ethics credit)
3:15-
3:30
Break
3:30-
4:30
Valuation and Other Current Issues in Estate and Gift Controversies – This presentation explores current audit and litigation issues from the perspective of a litigator who deals with the IRS on a daily basis. Among other topics, the discussion includes issues relating to the transfer of hard to value assets (including the Section 2704 Proposed Regulations), formula clauses, GRATs, BDITs, tax return preparation issues, privilege issues, and the avoidance of penalties.
John Porter, Baker Botts, Houston, TX
4:30-
5:30
Understanding and Serving the Single-Family Office as a Client – Increasingly, business-owning families and families of financial wealth are assessing the benefits of establishing a single-family office (SFO) to centralize the family’s various service needs. This panel examines the factors contributing to the rise in SFO formation and restructuring, as well as the threshold issues that tax advisers should consider in evaluating and serving the SFO as a client. The panel also explains the different types of SFOs and highlights trends that SFO operators and their advisors will face in the future.
Craig DeLucia, Broward Grove LLC, Charlotte, NC
Vinu Satchit, Ernst & Young, LLP, New York, NY
5:30-
7:00
Cocktail Party

DAY II – ESTATE AND GIFT TAXATION
FRIDAY MORNING, OCTOBER 27, 2017
David C. Sojourner, Jr.,
Presiding

8:00-
9:00
Advanced issues in Private Foundation Investing – This presentation focuses on issues that arise when a private foundation expands its portfolio beyond traditional stocks and bonds. Specific topics include excess business holding issues, including excess business holdings in LLCs; self-dealing issues when investing in partnerships with family members; fiduciary duty and excise tax issues arising out of impact investing and investing in social enterprises; and specific concerns for private foundations investing in international assets.
Elaine Waterhouse Wilson, Professor of Law, West Virginia University College of Law, Morgantown, WV
9:00-
10:00
Blinking Trusts - The Income Tax Consequences When a Grantor Trust becomes a Complex Trust or a Complex Trust becomes a Grantor Trust – Grantor Trusts are one of the most common tools of estate planning; yet, there are many unresolved issues when a trust morphs from being a grantor trust into a complex trust or vice versa. This program discusses what we know and what we don’t know, with suggestions for practical advice and possible solutions.
Craig Janes, Deloitte LLP, Washington, DC
10:00-
10:15
Break
10:15-
11:00
Tax Consequences of Trust and Estate Settlements – A majority of disputes involving trusts and estates settle prior to trial. This presentation addresses issues that should be considered in settling trust and estate disputes, including the estate, gift, generation skipping transfer tax, and income tax consequences of such settlements. In addition, settlement of these types of disputes frequently involve reformation, termination, modification, and even decanting of trusts. This presentation also includes an analysis of the transfer tax and income tax consequences of such trust changes.
Lauren Detzel, Dean Mead, Orlando, FL
11:00-
12:00
Advanced Topics in Generation-Skipping Transfer Tax – The generation-skipping transfer tax has been law for over 30 years. This program addresses issues practitioners face with respect to mature GST trusts, including modifications to grandfathered effective date trusts, taking advantage of the taxpayer friendly rules enacted in 2001, choosing between an estate tax and a GST, reporting requirements for taxable terminations and taxable distributions, and other timely issues.
Beth Shapiro Kaufman, Caplin & Drysdale, Chartered, Washington, DC
12:15-
1:05
Mid-day Program: What Every Estate Planner Should Know About Buy-Sell Agreements – Unless your client has had their buy-sell agreement reviewed from a valuation perspective, they don’t know what it says. This comes as a surprise to many – an often unpleasant surprise as too many find themselves caught up in unexpected and costly legal wrangles or personal turmoil. This session provides you with information from a valuation perspective that will help ensure that your clients’ buy-sell, shareholder, or joint venture agreement results in a reasonable resolution and is not a ticking time bomb set to explode upon a triggering event. In other words, you will leave this session understanding how your clients’ buy-sell agreement will work - before a trigger event occurs.
Sponsored by Mercer Capital and presented by Z. Christopher Mercer

FRIDAY AFTERNOON, OCTOBER 27, 2017
Martha Louise R. Lewis,
Presiding

1:15-
2:15
Fundamentals of Estate Planning in Light of a Trump Presidency, Political Uncertainty, and Rising Interest Rates – This presentation deals with certain basic aspects of estate planning regardless of changes to the wealth transfer tax systems (gift, estate and GST taxes), including basis planning and other tax aspects of gifted or inherited property. Certain fundamental truths about financial planning, of which estate and income tax planning are a critical part, are exposed. Changes, if any, to the US transfer tax and related tax systems also are discussed.
Jonathan G. Blattmachr, Pioneer Wealth Partners, New York, NY
 
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