Estate Administrative Issues: Are You Prepared to Handle Some of the Difficult Issues Facing Your Client?

June 9, 2017
9:00 a.m. – 4:45 p.m.
6.25 MCLE hours
Presented by Trusts and Estates

Chicago
ISBA Regional Office
20 S. Clark Street, Suite 900
(map and directions)
Or Online Course

 

Click here to register for the CHICAGO program.

Click here to register for the LIVE WEBCAST.

 

Don’t miss this full-day seminar that offers valuable information on how to handle an assortment of complex issues facing certain families during the administration of an estate, including drafting appropriate estate planning documents, enforcing settlement agreements, repairing documents that do not work, understanding administrative provisions of trust instruments, administering qualified retirement assets, and preparing fiduciary tax returns. Attendees with intermediate or advanced experience in estate planning, probate, tax planning, trust construction, tax preparation, trust and estate administration, chancery, or charitable planning representing fiduciaries who attend this seminar will better understand:

  • The role of the trust protector;
  • Statutory and common law techniques available to fiduciaries and beneficiaries;
  • Trust construction, modification, and decanting;
  • Charitable trust reformation and how to assure grantor’s intent is met;
  • Use of apportionment provisions in planning documents;
  • Inherited IRAs;
  • Typical issues faced in tax return preparation; and
  • Much more!

 

Program Coordinator/Moderator:
William R. Kuehn
, Williston, McGibbon & Kuehn, Barrington

 

NOTE: Your registration includes access to electronic course materials that will be sent to you via email prior to the seminar. Printed course materials may be purchased for a nomial fee via the registration page.

 

Agenda

9:00 – 9:45 a.m.  Trust Protectors and Directed Trustees
This comprehensive overview examines the role of trust protector, including the duties a trust protector owes or does not owe; the creation of appropriate trust protector provisions in planning documents; defining a directed trust; and when it is appropriate to use directed trusts.
George L. Schoenbeck, Sosin, Arnold & Schoenbeck, Ltd., Orland Park

9:45 – 10:45 a.m.  Virtual Representation and Family Settlement Agreements
This segment explores the various statutory and common law techniques available to the fiduciary and the beneficiary, as well as when to use each technique, understanding their differences, and knowing how to determine when you need to go to court.
David M. Lutrey, Lesser Lutrey Pasquesi & Howe, LLP, Lake Forest

10:45 – 11:00 a.m.  Break (beverages provided)

11:00 a.m. – 12:00 p.m.  Trust Construction, Trust Modification, and Decanting
Do the documents contain ambiguous language? Is the administrative language outdated and inappropriate? Does the fiduciary have the requisite discretion to take advantage of the preferred technique? Get the answers to these questions and more regarding trust construction/modification and decanting with this informative presentation.
Susan T. Bart, Sidley Austin, LLP, Chicago

12:00 – 1:00 p.m.  Lunch (on your own)

1:00 – 1:45 p.m.  Charitable Trust Reformation
Join us for this in-depth look at the reformation of charitable trust, including: the specific IRS code sections used to reform defective charitable gifts; the recognition of common law issues and the doctrine of Cy Pres; the identification of the various types of charitable gifting techniques and how to assure the grantor’s intent is met; and what happens if/when the reformation is not successful.
James A. Nepple, Nepple Law, PLC, Moline

1:45 – 2:45 p.m.  Administrative Issues
This presentation examines the use of apportionment provisions in planning documents and discusses answers to the following questions: Who will pay the tax? What are the issues with the surviving spouse? Income or Principal? A thoughtful analysis of the Principal and Income Act and total return trusts is also included.
Edward J. Jarot, Jr., Castle Law LLC, Joliet

2:45 – 3:00 p.m.  Break (refreshments provided)
Sponsored by the Illinois Bar Foundation

3:00 – 3:45 p.m.  Inherited IRAs
Don’t miss this opportunity to learn about inherited IRAs, which often pass outside of the trust or will via its own beneficiary designations. Working with IRA custodians and the resources available for attorneys who face questions concerning inherited IRAs are also included.
Philip E. Koenig, Law Office of Philip E Koenig, Rock Island

3:45 – 4:45 p.m.  Fiduciary Tax Return Preparation
This presentation offers an overview of the typical issues attorneys face when preparing or assisting in the preparation of a 706, IL 700, 1041, or other tax returns when administering the estate.
Michael L. English, Russell, English, Scoma & Beneke, P.C., Princeton