Last Updated: 10 September 2014

 Sponsored by:
Central IL Estate Planning Council;
Decatur Legacy;
Team SOY
The Salvation Army



Explore traditional and new planning techniques designed with flexibility in mind to address the new paradigm.

• Recent tax law developments and case law updates
• Plans for small, medium and large estates
• Business advice for succession planning
• Effective and efficient charitable strategies
• Ethical considerations in representing families and their entities

September 16, 2014

8:45 am – 10:45 am Ethics Session: Representing Families and Fiduciaries

The new planning paradigm requires advisors and fiduciaries to consider the estate and income tax consequences of a particular strategy to the family as a whole. Ann will discuss ethical issues arising from the representation of multiple members of a family, fiduciaries who owe duties to diverse beneficiaries and charitable organizations. The ethics session will include a review of current case law regarding:

  • Undue influence and lack of capacity
  • Conflicts of interest of attorneys and the clients they represent
  • Confidentiality and the client relationship
  • In terrorem clauses
  • Duties of loyalty and confidentiality

10:30 a.m. - Noon - Current Developments and Updates: Understanding What's New

Estate planning is constantly changing as income taxes increase, estate taxes are reduced, portability takes hold, and the economy recovers. Sam will help advisors understand what’s new and how it impacts their clients.

  • Estate, gift and income tax changes
  • Charitable income tax deduction cases and rulings
  • Trusts and the 3.8% surcharge
  • Recent valuation cases
  • Business planning update
  • Planning after the over-turn of DOMA

Noon - 1:00 p.m. - Lunch Provided

1:00 p.m. - 3:00 p.m. - Where Do We Go from Here: Planning Strategies for the Small, Medium and Large Estate

Choosing the technique or strategies for each individual client requires a careful analysis of the estate, gift and income tax consequences to the client and the family as a whole. Asset protection, simplification, and controlling costs are also important considerations. Ann and Sam will discuss how to approach this analysis and explore examples of useful strategies in various circumstances.

  • When is it wise to rely on portability?
  • Maximizing basis step-up under section 1014
  • Impact of 3.8% surcharge on trusts
  • State death tax considerations in decoupled states
  • Partnerships and the section 754 election
  • GST planning and the lack of portability
  • Planning for future flexibility

3:00 p.m. - 3:30 p.m. - Wrap-Up Discussion / Q&A
3:30 p.m. - Conference Concludes

Institute to be held at The Salvation Army - 229 West Main - Decatur
in the Community Hall (Entrance on the West end of the building)