Planners
• Edward W. Griggs, Womble Carlyle Sandridge & Rice PLLC, Winston-Salem
• Daniel K. Hicks, Of Counsel, Nexsen Pruet Adams Kleemeier PLLC, Greensboro
Speakers
• Michael G. Adams, Parker Poe Adams & Bernstein LLP, Charlotte
• Craig G. Dalton Jr., Poyner & Spruill LLP, Raleigh
• Stuart B. Dorsett, Ward & Smith PA, Raleigh
• Graham D. Holding Jr., Robinson Bradshaw & Hinson PA, Charlotte
• M. Read Moore, McDermott Will & Emery LLP, Chicago, IL
• James W. Narron, Narron O’Hale & Whittington PA, Smithfield
• Gregory T. Peacock, Ward & Smith PA, New Bern
• Elizabeth L. Quick, Womble Carlyle Sandridge & Rice PLLC, Winston-Salem
• Christy Eve Reid, Robinson Bradshaw & Hinson PA, Charlotte
• John R. Sloan, Ward & Smith PA, Wilmington
• Lance K. Stell Ph.D., FACFE, Charles A. Dana Professor of Philosophy, Director of Medical Humanities Program, Davidson College; Vice Chair of Ethics Committee, Carolina Medical Center, Charlotte
• Andrew A. Strauss, Strauss & Associates PA, Asheville
• Kimberly H. Stogner, Vaughn Perkinson Ehlinger Moxley & Stogner LLP, Winston-Salem
• Victoria S. Windell, Moore & Van Allen PLLC, Charlotte
Agenda
Grove Park Inn • ____________________ (insert room)
Thursday, July 20 Moderated by Daniel K. Hicks
7:15–8:00 a.m. Registration & Continental Breakfast
Sponsored by U.S. Trust
8:00–8:15 Introduction/Announcements
8:15–9:45 Recent Developments • Dorsett, Peacock and Sloan
A survey of recent North Carolina and federal tax rulings and cases affecting estate planning, trust and estate administration and charitable giving. Emphasis is placed on putting the developments in context and highlighting their practical significance for drafting and planning purposes.
9:45–10:00 Section Annual Meeting • Debra L. Foster presiding, 2005–2006 Section Chair
10:00–10:15 Junk Food Break
Sponsored by Banister Financial Inc.
10:15–12:00 p.m. Drafting in Light of Recent Developments • Holding and Reid
A discussion of various drafting techniques in light of recent North Carolina and federal changes in the law, including the North Carolina Uniform Trust Code. Emphasis will be placed on practical tips for drafting.
12:30–1:00 Registration for Optional Video Replay
1:00–4:15 Optional Video Replay
Thurgood Marshall’s Coming!
2:00–4:00 +Tennis
*7:00–8:30 Reception sponsored by N.C. Banks
Friday, July 21
7:45–8:15 a.m. Continental Breakfast
Sponsored by U.S. Trust
Concurrent Breakout Sessions
Track 1 moderated by Daniel K. Hicks
Track 2 moderated by Edward W. Griggs
8:15–9:25
Track 1 Asset Protection Planning • Adams
This presentation will discuss the effectiveness of asset protection planning strategies beyond just the use of exempt property under North Carolina law (tenancy by the entireties property, life insurance products and pension savings) such as the use of limited liability companies and asset protection trusts.
Track 2 Update of GST & Gift Tax Returns Changes • Stogner
This presentation will address recent changes to the federal 709 Gift (and Generation Skipping Transfer) Tax Return for reporting GST and gift tax transfers, including election out of automatic allocation of GST exemption and the impact of the deemed GST allocation rules on GST trusts. An update will be provided on any regulations or rulings arising out these recent changes.
9:25–9:40 Junk Food Break
Sponsored by Banister Financial Inc.
9:40–10:50
Track 1 The Charitable Arena: Paradise or Paradise Lost? • Quick
This presentation will highlight advanced planning techniques and developments affecting exempt organizations and charitable giving, with a focus on recent IRS scrutiny and the status of pending legislation.
Track 2 Family Discount Entities: Is There A Bright Line Test to Pass IRS Muster? • Strauss
An in-depth discussion of the status of FLP and FLLC planning in light of recent IRS successes in “bad fact” scenarios such as Korby, Bigelow, Hillgren, Strangi, Thompson, Harper, Senda and Bongard as well as recent IRS successes in “good fact” scenarios under 2036(a). A discussion of courts’ struggle to find “bone fide” or “genuine” transactions for non-tax purposes in the family context, and the possible preclusion of discount entities except where favorable facts exist such as in the Stone and Schutt cases. This presentation will provide practical advice on what to do with existing discount entities and whether this estate-planning tool is still viable for newly created entities.
10:50–11:00 Break
11:00–12:00 p.m.
Track 1 Estate Planning For The Multi-Jurisdiction Client • Dalton
A review of planning issues in an increasingly migratory society. This presentation will discuss common scenarios involving changes in domicile by clients; clients with property acquired in other states; community property issues; state estate and income tax ramifications of clients who own assets in multiple jurisdictions; trusts with multi-jurisdictional trustees, beneficiaries or trust property; and the ethical issues facing the North Carolina estate planner as he or she represents clients with such multi-jurisdiction contacts
Track 2 Practice Before the Clerk • Windell
This presentation will focus on changes in the new North Carolina Uniform Trust Code that affect proceedings before the Clerk of Superior Court. Topics will include the Clerk’s jurisdiction, the application of the Rules of Civil Procedure and consolidation of trust proceedings in superior court.
1:00 +Golf
Sponsored by Altavista
2:00–4:00 +Tennis
Saturday, July 22
Moderated by ___________________, 2006-2007 Section Chair
7:45–8:15 a.m. Continental Breakfast
Sponsored by U.S. Trust
8:15–9:15 Use of Disclaimers • Narron
Practical tips in the use of disclaimers as an estate planning and drafting tool. Update on recent rulings and cases involving disclaimers.
9:15–10:15 *Ethical Issues in Effective End of Life Counseling: Case Scenarios • Stell
A review of the attorney’s role in end of life planning, especially in light of the relationships between family members dealing with the attorney. This presentation will also discuss which advance directive physicians find most or least useful and potential tensions between the medical and legal fields in this arena; practical discussion on how advance directives can make end of life decisions more complicated; and a discussion of what is coming next after the Schiavo case, MOST (medical orders for scope of treatment) v. “allow natural death.”
10:15–10:30 Junk Food Break
Sponsored by Banister Financial Inc.
10:30–11:45 Estate Planning Until Congress Makes Up Its Mind • Moore
An in-depth review of practical estate and tax planning techniques in light of the uncertain future of the federal wealth transfer taxes and state death taxes. This presentation will discuss the impact of the increases in the gift tax applicable exclusion amount and the GST exemption, how to transfer wealth without paying gift taxes (including the use of grantor trusts, zeroed-out CLATs and GRATs, and intra-family loans and sales), and how to factor state death taxes into lifetime and testamentary planning.
CLE Credit: 9.75 Hours, includes
1.0 Ethics/Professionalism
*Indicates portion providing Ethics/Professionalism credit.
+Please watch for additional CLE information under separate cover for social information.
Program Sponsors
Platinum Sponsor
U.S. Trust
Gold Sponsor
Brown Brothers Harriman Trust Company LLC
Silver Sponsors
Asset Management Advisors
Banister Financial Inc.
ComStock Valuation Advisors
Dixon Hughes PLLC
Fidelity Charitable Services
Harris Crouch Long Scott & Miller
Exhibitors
Fast-Tax
Foundation for the Carolinas
RSM McGladrey, Inc.
Rinehart & Associates
Overview/Why Attend?
The 26th Annual Estate Planning & Fiduciary Law Section Meeting provides an exciting array of presentations from some of North Carolina’s leading estate planning practitioners. Special emphasis this year will be placed on practical planning and drafting tips for common scenarios faced by attorneys involved in an intermediate to advanced estate planning practice. The program will provide a review of some of the recent changes in North Carolina and federal law, including issues arising out of the North Carolina Uniform Trust Code. The program will also provide a timely discussion of the practical ethical issues faced by attorneys in end of life planning in a post-Terri Schiavo world.
Key Benefits
• Network with attorneys from around the state at one of North Carolina’s premier estate planning programs at the beautiful Grove Park Inn
• Get the timely information you need to stay current
• Practical planning and drafting tips in light of the new NC Uniform Trust Code
• Planning for multi-jurisdictional clients, including those with community property issues
• In-depth analysis of planning with FLP’s and FLLC’s in light of recent IRS successes
• Discussion of advanced asset protection techniques
Program Highlights
• Practical discussion of the ethical issues involved in end of life planning after Schiavo
• Features nationally known speaker, Read Moore, on estate planning and drafting until Congress makes up its mind
• Practical planning and drafting tips in light of recent changes to North Carolina and federal law, including the North Carolina Uniform Trust Code
• Discussion of advanced asset protection planning techniques for the estate planner
Hotel Name
Grove Park Inn
290 Macon Avenue • Asheville
800-438-5800
onlineRFP: groveparkinn.com
$199 single or double occupancy
Hotel cutoff date: June 5, 2006
Social Activities/Information
- Golf sponsored by Altavista
- Tennis both Thursday and Friday afternoons
- Includes the Annual Reception on Thursday night – plan to join your friends again this year!
Hotel Information
- Features the world-renowned Grove Park Inn Spa
- Features a Donald Ross designed golf course
- Play golf on the same course as legends like Bobby Jones, Sam Snead, Jack Nicklaus and Fuzzy Zoeller!
- Includes a 50,000 square foot sports complex!
- Close drive to downtown Asheville, The Blue Ridge Parkway, Chimney Rock and other exciting local attractions!
