Schedule

This session will discuss an overview of the estate planning process, from the initial client intake through the final execution of the plan, and beyond. We will discuss document and drafting considerations, the estate planning team approach, as well as the softer side of planning. Estate planning is a profound and daunting endeavor for clients.  What impact will you have in your clients’ lives?

Speaker: Hugh Drake, Brown Hay & Stephens, Springfield, IL, and Samantha M. Contreras, Harrison LLP, Chicago, IL

Join us during the program’s lunch break for a discussion with the Section of Real Property, Trust and Estate Law’s leaders on diversity in the legal profession. Leaders will share diversity initiatives in the Section and how to get involved.

A discussion about the various clauses common to marital and credit shelter trusts, taxation issues and how to approach drafting such trusts.

Speakers: Brent Berselli, Holland & Knight LLP, Portland, OR, and Trevor Mason, Miller Johnson, Grand Rapids, MI

A comprehensive estate plan takes into account nonprobate assets that will not pass through even the most well-drafted estate plan. These are assets that pass by operation of law, by contract, or by beneficiary designation. Certain assets come up in almost every estate including assets held in joint tenancy with rights of survivorship, beneficiary designations on retirement accounts, insurance policies, or accounts, and community property in applicable states. Less common are assets passing by contract including (i) retirement plans under ERISA or the plan documents, (ii) obligations under a pre- or post-nuptial agreement or divorce settlement agreement, and (iii) charitable pledges. This program will cover these non-probate transfers, including the complex rules concerning retirement accounts, and tax and practical considerations.

Speaker: Rachel Lee, Strategic Planning Law Group, P.C., Los Angeles, CA and Natasha McFarland, Harrison, LLP, Washington, D.C.

Although many estate planning arrangements are implemented without controversy, given family dynamics involved in such planning, drafting attorneys should be mindful of the possibility that family members will disagree. Those who are dissatisfied with an estate plan may resort to court proceedings. This segment of the Skills Training program will introduce attendees to the essential concepts of probate litigation, including will and trust disputes, contests, and fiduciary litigation. Those engaged in the estate planning process should be aware of the manner in which probate litigation arises so that they can plan to avoid such disputes (as much as possible). After reviewing those concepts, this segment will explore some of the planning approaches that can be pursued to avoid probate litigation.

Speaker: Emma Connor, Prather Ebner Wilson, Chicago, IL and Tyler Murray, Baker Botts, Dallas, TX - BLJ

This presentation is tailored for legal professionals and trust administrators, focusing on the intricacies of drafting trust documents with corporate fiduciaries in mind. This session aims to provide valuable tips, drafting guidelines, and an overview of what corporate fiduciaries seek in trust documents. Discover the common pitfalls that can lead to disastrous outcomes and learn best practices to ensure clarity, compliance, and flexibility in your trust drafting process.

Speaker: Keith Dossiere, J.P. Morgan Private Bank, Dallas, TX and TBD

Planning options for long-term care and individuals with special needs, including Medicaid benefits and the drafting of special needs trusts.

Speaker: David English, University of Missouri School of Law, Columbia, MO and Benji Rubin, Rubin Law, Chicago, IL

Unique challenges arise when adults enter the gray area of "marginal capacity"—adults who are living independently but who might mismanage their assets, neglect their own safety or health needs, or be vulnerable to fraud and abuse. This program will focus on the legal and practical remedies available to supportive family members and friends of adults who show signs of diminished and marginal capacity.

Speakers: Sandra D. Glazier, Sandra D. Glazier PC, Troy, MI, Carly Johnson, Stillwater, MN, and Anthony La Ratta, Archer & Greiner, P.C., Haddonfield, NJ

This presentation offers a comprehensive overview of advanced trust planning techniques designed to help clients efficiently transfer wealth and minimize transfer tax exposure. Participants will explore the structure, benefits, and practical considerations of Intentionally Defective Grantor Trusts (IDGTs), Spousal Lifetime Access Trusts (SLATs), Irrevocable Life Insurance Trusts (ILITs), Grantor Retained Annuity Trusts (GRATs), Qualified Personal Residence Trusts (QPRTs), and Charitable Lead and Remainder Trusts (CRTs/CLTs). The program will address both tax and non-tax considerations behind each strategy, providing attendees with a solid foundation for advising high-net-worth individuals and families.

Speaker: Christine Quigley, Schiff Hardin LLP, Chicago, IL, and Christina Romero, Katten Muchin Rosenman LLP, New York, NY

The presentation covers important ethical aspects of representing estate planning clients.  Two fundamental issues involve confidentiality and loyalty (conflicts of interest) that are especially relevant when representing couples.  The program will also discuss other conflict issues, including gifts to the lawyer or the lawyer’s family, naming the lawyer to serve as personal representative or trustee, and the subsequent representation of only one client when the lawyer formerly represented the couple.  In addition, the discussion will include confidential communications when representing a fiduciary as well as the requirements for disclosing the basis for fees.  Applicable rules include Model Rules 1.5 (fees), 1.6 (confidentiality), 1.7 (conflicts of interest), 1.8 (gifts to drafter), 1.9 (duties to former clients), and 1.18 (duties to prospective clients).

Speaker: Deadra Woods Stokes, IIT Chicago-Kent College of Law, Chicago, IL