Estate Planning Tools and the New Laws: What Still Works (and What Doesn't)

Agenda / Content Covered

1. Federal Tax Update 2021-2022: Current Rates, Exemptions, Brackets, etc.
   10:00 — 10:30, Roger McClure
2. The SECURE Act: IRAs and Other Planning Implications
   10:30 — 11:00, Justin Gilbert
   1. The Death of the Stretch
   2. Beneficiary Designations
   3. Required Minimum Distributions
   4. Tax Effects on Grantors and Beneficiaries
   5. Special Needs: New Planning Options
   6. What Small Businesses Need to Know
3. The Effects of the Pandemic and Recession on Clients' Estate Plans
   11:00 — 11:30, Louis Silverman
4. The Lasting Effects of TCJA
   11:45 — 12:15, Paul Jones
   1. Leveraging and Reporting the Step Up in Basis
   2. Trust Tax Deductions Changes
   3. Farm and Ranch Planning Under the TCJA
   4. How the Potential Clawback Affects Client Advice
   5. Alimony Trusts After Elimination of the Alimony Deduction
5. Old Small-to-Medium-Sized Estate Tools and How to Update Them
   12:15 — 1:00, Roger McClure
   1. Life Insurance
   2. Decanting Irrevocable Trusts
   3. Durable Powers of Attorney Caps of Gifting
   4. Old QPRTs: What to Do With the Family Home
   5. Reassessing FLPs and LLCs
   6. Joint Tenancies, Income Tax Basis, and Estate Tax Treatment
   7. Second Marriage Planning
   8. Reassessing Gifting Strategies
6. Large Estate Techniques That No Longer Work and What to Replace Them With
   1:30 — 2:15, Paul Jones
   1. Estate Tax Basis Consistency Rules Update
   2. Portability Election Requirements and Late Election Relief, Filing Form 706
   3. Rule Changes and Complex Planning Approaches You Need to Know
   4. Charitable Giving and Donor-Advised Funds: New Rules and Trends
7. Renewed Emphasis on Planning for Nursing Home Care and Medicaid Planning
   2:15 — 2:45, Justin Gilbert
8. Using the I.R.C. 199A (QBI) Deduction
   2:45 — 3:15, Roger McClure
9. Reviewing Estate Planning Documents and Fixing Old Trusts
   3:30 — 4:00, Louis Silverman
   1. Stock Language to Look out for
   2. Old Tax Formulas and Planning Methods to Reassess
   3. Document Execution, Funding Mistakes
   4. Avenues for Making the Changes
10. Legal Ethics in Estate Planning
    4:00 — 5:00, Louis Silverman
    1. Who Is Your Client?
    2. Joint Representation and Conflicts of Interest
    3. Attorney Fees and Client Trust Accounts
    4. Attorney Technology Competence
    5. Guarding Confidentiality

Accreditation Details:

Justin M Gilbert has successfully represented hundreds of clients in all matters relating to living trusts, estate planning, probate, business formation and planning, real estate, and elder law. Mr. Gilbert is a member of the State Bar of California; the Tennessee Bar Association; the Nashville Bar Association; the Williamson County Bar Association; the ARAG, Attorney Advisory Committee; and a member of WealthCounsel, LLC, a cooperative alliance of nationally recognized estate-planning attorneys dedicated to bringing their clients the finest estate planning advice and documentation possible. He received his B.S. degree from George Mason University and his J.D. degree from Santa Clara University School of Law.

Paul W Jones is a partner is in the law firm of Hale & Wood, PLLC, where he practices in the areas of tax, business, estate planning, wills, trust, probate, and real estate. He is admitted to practice before the Utah Supreme Court, Federal District Court of Utah, and the U.S. Tax Court. Mr. Jones is a member of the Utah State Bar. He is also a licensed certified public accountant. Mr. Jones earned his B.A. degree and his J.D. degree, with honors, from the University of Utah and his Masters degree from Weber State University.

Roger J McClure is a practicing attorney with Washington Wealth Counsellors®, and has more than 35 years of experience. He maintains a business, estate and charitable planning law practice based in Virginia. He has conducted civil and criminal trials in local courts; represented creditors in bankruptcy proceedings; and litigated antitrust and trade regulation cases involving the largest corporations in America in federal regulatory proceedings. Mr. McClure served 10 years in the Virginia Legislature (House of Delegates) and is past president of the Northern Virginia Estate Planning Council and the Northern Virginia Apartment Association. He has published books and articles in ABA publications. Through Wealth Counsel and his professional associations, he works with professionals in every state to assist their clients in solving problems and enhancing planning. Mr. McClure holds an undergraduate degree in international studies; his masters degree in political science from Northwestern University; and his J.D. degree, with honors, from The Ohio State University Law School.

Louis A Silverman is an attorney at Silverman Law Offices, where he practices in the areas of estate planning, estate administration, probate law, and related tax matters. Mr. Silverman became board certified in estate and trust law by the State Bar of Arizona. His practice emphasizes estate planning, which includes wills and trusts and other estate planning devices; and trust administration and probate, which includes death probate, guardianship, and conservatorship. Mr. Silverman has served as judge pro tem on the Maricopa County Superior Court. He is a member of WealthCounsel and is a past member of the Elder Law, Mental Health and Special Needs Planning Section of the State Bar of Arizona. Mr. Silverman is on the Board of Trustees of Southwest College of Naturopathic Medicine and past president of the Board of Directors of Tempe Leadership. Mr. Silverman earned his B.S. degree in business from Arizona State University and his J.D. degree from South Texas College of Law in Houston. He is admitted to practice in the state courts of Arizona and Texas, the U.S. District Court for Arizona, and the Western District of Texas.