46th annual heckerling institute on … th annual heckerling institute on estate planning january 9...

46TH ANNUALHECKERLING INSTITUTE

ON ESTATE PLANNINGJANUARY 9 - 13, 2012

ORLANDO WORLD CENTER MARRIOTTRESORT AND CONVENTION CENTER

ORLANDO, FLORIDA

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The Heckerling Institute on Estate Planning is the nation’s leading conference for estate planners, including attorneys, trust officers, accountants, insurance advisors, and wealth management professionals. The general session lectures and breakout sessions offer comprehensive coverage of the latest estate planning techniques and strategies, while special program tracks allow attendees to customize their educational experience and focus on those areas most relevant to their practice. In addition to traditional estate planning topics, this year’s Institute offers programs on related areas that can enhance your practice such as elder law, asset protection, and income tax planning. Attendees also enjoy unparalleled networking and professional development opportunities that make attending the Heckerling Institute a valuable investment for every estate planning professional.

Recent Developments: The recent developments panel on Monday afternoon, featuring three of the nation’s foremost estate planning experts, will guide you through the most significant legislative, regulatory and case law developments of 2011.

Focus Series: Today’s estate planners and their clients are faced with uncertainty in both the legal and economic environments. The focus series will explore how to plan successfully in these uncertain times by building flexibility into the estate plan. The series will examine the use of powers of appointment, flexibility in the formation and operation of trusts, using the $5 million exclusion amount, portability, and effective planning techniques for estates of varying sizes. Sessions in the focus series are designated: FS

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Planning with Financial Assets: Our financial assets series will cover the benefits and drawbacks of using annuities in estate planning, planning with Roth IRAs, and best practices for monitoring life insurance policies in ILITs. Sessions in the financial assets series are designated:

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Litigation and Tax Controversies: This series will include sessions on the effective use of expert witnesses, how to properly maintain and administer FLPs, and how to avoid or litigate a financial elder abuse case. Sessions in the litigation series are designated:

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Fundamentals: The fundamentals programs are of interest to both new and experienced planners who would benefit from a comprehensive review of three important planning areas. The programs will cover powers of appointment, tax-exempt organizations and charitable gift planning, and the use of grantor trusts.

Networking and Practice Development: As the largest gathering of estate planning professionals in the country, the Institute offers a unique opportunity to exchange ideas, network, and review the latest in technology, products and services displayed by nearly 150 vendors in an exhibit hall dedicated entirely to the estate planning industry.

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INSTITUTE FACULTYThomas W. AbendrothSchiff Hardin LLPChicago, Illinois

Farhad Aghdami Williams Mullen Richmond, Virginia

Christine L. AlbrightWinston & Strawn LLPChicago, Illinois

N. Todd AngkatavanichWithers Bergman LLPGreenwich, Connecticut

Dawn M. ApplebaumInternal Revenue ServiceFort Lauderdale, Florida

Mark BarmesLenz & StaehelinGeneva, Switzerland

Martin E. BassonInternal Revenue Service Fort Lauderdale, Florida

Dennis I. BelcherMcGuireWoods LLPRichmond, Virginia

John F. BergnerWinstead P.C. Dallas, Texas

Turney P. BerryWyatt, Tarrant & Combs LLPLouisville, Kentucky

Jonathan G. BlattmachrEagle River AdvisorsGarden City, New York

Alexander A. Bove, Jr.Bove & Langa, P.C.Boston, Massachusetts

Elaine M. Bucher Proskauer Rose LLPBoca Raton, Florida

Ann B. BurnsGray Plant MootyMinneapolis, Minnesota

Dana G. Fitzsimons, Jr.McGuireWoods LLPRichmond, Virginia

Richard L. Fox Dilworth Paxson LLP Philadelphia, Pennsylvania

Wendy S. GoffeGraham & DunnSeattle, Washington

Alvin J. GoldenIkard & Golden, P.C.Austin, Texas

Please join us in Orlando, January 9th - 13th, 2012 to take advantage of this exciting event!

Register online today at www.law.miami.edu/heckerling1

Laurelle M. GutierrezCarr McClellan Ingersoll Thompson & HornBurlingame, California

Alan S. HalperinPaul, Weiss, Rifkind, Wharton & Garrison LLPNew York, New York

David A. HandlerKirkland & Ellis LLPChicago, Illinois

Carol A. Harrington McDermott Will & Emery LLP Chicago, Illinois

Amy E. Heller McDermott Will & Emery LLPNew York, New York

Joseph G. Hodges, Jr. Attorney at LawDenver, Colorado

Marcia Chadwick HoltDavis, Graham & Stubbs LLPDenver, Colorado

Christopher R. HoytUniversity of MissouriKansas City School of LawKansas City, Missouri

Beth Shapiro KaufmanCaplin & DrysdaleWashington, D.C.

Bernard A. KrooksLittman Krooks LLPNew York, New York

Julie K. KwonMcDermott Will & Emery LLPMenlo Park, California

Ralph E. LernerWithers Bergman LLPNew York, New York

David E. LiebermanLevin Schreder & Carey Ltd.Chicago, Illinois

Stephanie Loomis-PriceWinstead PC Houston, Texas

Mary Ann ManciniBryan CaveWashington, D.C.

Matthew P. MatiasevichEvans, Latham & Campisi San Francisco, California

Julia B. MeisterTaft Stettinius & Hollister LLPCincinnati, Ohio

M. Read MooreMcDermott Will & Emery LLP Chicago, Illinois

Barry A. NelsonNelson & Nelson, P.A.North Miami Beach, Florida

Richard W. NennoWilmington Trust CompanyWilmington, Delaware

John L. OlsenOlsen Financial GroupKirkwood, Missouri

Mark R. Parthemer Bessemer TrustPalm Beach, Florida

Laura H. PeeblesDeloitte Tax LLPWashington, D.C.

Jeffrey N. Pennell Emory University School of Law Atlanta, Georgia

John W. PorterBaker Botts LLPHouston, Texas

David PrattProskauer Rose LLPBoca Raton, Florida

Catherine Sanders ReachABA Legal Technology Resource CenterChicago, Illinois

Bruce S. Ross Holland & KnightLos Angeles, California

Alan F. Rothschild, Jr.Hatcher, Stubbs, Land, Hollis & RothschildColumbus, Georgia

Gideon Rothschild Moses & Singer, LLP New York, New York

Nancy Schmidt RoushLathrop & Gage LLPKansas City, Missouri

Joshua S. Rubenstein Katten Muchin Rosenman LLPNew York, New York

John SarePatterson Belknap Webb & Tyler LLPNew York, New York

Robert H. SitkoffHarvard Law SchoolCambridge, Massachusetts

Lee SlavutinStern Slavutin-2 Inc.New York, New York Bruce M. Stone Goldman Felcoski & Stone, P.A. Coral Gables, Florida

Michael A. SullivanFinch McCranie, LLP Atlanta, Georgia

Conrad TeitellCummings & Lockwood LLCStamford, Connecticut

Vivian L. ThoreenHolland & KnightLos Angeles, California

Laura M. TwomeySimpson Thacher & Bartlett LLPNew York, New York

Christine J. VincentThe Aspen Institute’s National Study of Artist-Endowed FoundationsEaston, Connecticut

Melvin A. WarshawFinancial Architects Partners Boston, Massachusetts

Lauren J. WolvenHorwood Marcus & Berk Chartered Chicago, Illinois

Bruce ZagarisBerliner, Corcoran & Rowe, LLPWashington, D.C.

Register online today at www.law.miami.edu/heckerling 2

INSTITUTE SCHEDULESUNDAY, JANUARY 8

2:00 – 6:00 Early Registration

MONDAY, JANUARY 9

7:00 Institute Registration Continues

9:00 – 12:15 FS

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FUNDAMENTALS PROGRAMWhat Your Mother Never Told You About Powers of Appointment:A Most Flexible Estate and Financial Planning Tool

Jonathan G. BlattmachrThis presentation will cover some fundamentals and fine points of powers of appointment. Emphasis will be on how powers can produce enhanced estate, gift, generation-skipping transfer tax and income tax benefits and how they can cause adverse effects. Specific planning suggestions and sample language will be presented.

10:30 – 10:45 Break12:15 – 2:00 Lunch2:00 – 2:10 Introductory Remarks

Tina Portuondo, Director, Heckerling InstitutePatricia D. White, Dean, University of Miami School of Law

2:10 – 5:15 Recent Developments 2011Dennis I. Belcher u Carol A. Harrington u Jeffrey N. Pennell

3:30 – 3:45 Break6:00 – 7:00 Institute Opening Reception

TUESDAY, JANUARY 10

9:00 – 9:50 IRA Distributions and Rollovers – Integrating Estate Planning and Income Tax Planning

Christopher R. HoytFollowing a review of the ground rules for required lifetime and testamentary distributions from retirement plans, this session will illustrate the impact that those rules have on different beneficiaries: elderly, younger, and youngest. In the case of an elderly surviving spouse, does portability provide the best of both worlds: estate tax benefits plus the income tax benefits of an IRA rollover to a surviving spouse? Is portability better than using an IRA to fund a credit shelter or QTIP trust? What about second marriages?

9:50 – 10:40 FS

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Straightjacket Trusts: Requested, Needed or Imposed by Default?

John F. BergnerStraightjackets are designed to restrain a person who may otherwise cause harm to themselves or others. Sometimes a straightjacket trust is appropriate – however, many clients prefer flexible trusts. But, flexibility for whom? The settlor, beneficiary or trustee? This session will discuss designing, drafting and implementing trusts that are adaptable to changing times and circumstances.

10:40 – 10:55 BreakRegister online today at www.law.miami.edu/heckerling3

10:55 – 11:45 FS

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Pressing The “Do Over” Button: Strategies for Modifying Wills and Trusts After Formation

Joshua S. RubensteinThis session will first consider the federal and state tax considerations underlying the decision whether or not, and if so, how to modify wills and trusts after formation. It will then consider those options for modification that have retroactive effect to the date of creation, as well as those options whose effect is purely prospective. The session will conclude by considering the availability of litigation settlements to make otherwise much needed modifications to wills and trusts.

11:45 – 12:35 FS

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They Say You Can’t Take It With You - But How Do You Give It Away? Using the New $5 Million Exclusion Amount

Ann B. BurnsEstate planners have an unprecedented opportunity at least until the end of 2012 to advise clients about the transfer of wealth to younger generations without federal gift tax. This session will discuss options for wealth transfer to younger generations using the $5,000,000 gift tax exclusion amount from the simple to the complex. The program will include discussion of outright gifts, loan forgiveness, dynasty trusts, qualified personal residence trusts, gift splitting, grantor trusts, future taxation of current gifts, and more. If you can’t take it with you, find the best strategy to give it away.

12:35 – 2:00 Lunch2:00 – 2:50 The Last Picture Show -- What You Should Do with Your Art

Ralph E. LernerThis presentation will examine the current tax and estate planning alternatives for all sorts of collectibles, including charitable remainder trusts – both inter-vivos and testamentary; private operating foundations; fractional interest gifts; sale and lease-back transactions; valuation issues and new Internal Revenue Service valuation requirements and penalty provisions.

2:50 – 3:40 FS

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Portability: The New Estate Planning Wonder Drug?

Thomas W. AbendrothFor years clients have complained about the extra planning necessary to ensure that both spouses’ applicable exclusion amounts are used. Now we have a law that allows one spouse to pass unused exclusion to the survivor. This session will discuss how to use portability, and whether it should be used before clinical trials are completed.

3:40 – 3:55 Break3:55 – 4:45 There’s No Place Like Home - Unless You Give It Away

David A. HandlerThis session will discuss the potential benefits of giving away a family home (primary or vacation), the practical issues associated with the ongoing use and maintenance of the house after transfer, methods of transferring homes, and the pitfalls associated with continued use after the transfer.


4:45 – 5:35 Ethics - The ACTEC Commentaries in the 21st Century: Where Have We Been and Where Are We Going?

Bruce S. Ross

This presentation will address the past, present and future ethical issues facing the estate and trust practitioner and attempt to address the practical application of the ACTEC Commentaries on the Model Rules of Professional Conduct in answering those ethical challenges since the Commentaries’ first publication in 1999.

WEDNESDAY, JANUARY 11

9:00 – 9:50 Use of Irrevocable Income - Only Trusts in Elder Law Planning: Yes, You Can Have Your Cake and Eat It Too

Bernard A. Krooks

One of the most valuable tools in the arsenal of the elder law attorney is the income-only trust. This session will discuss the types of clients for whom this trust is most appropriate and will break down and analyze the pertinent provisions of a properly drafted income-only trust, including so-called “boiler-plate” provisions which may come back to haunt you. Relevant tax considerations will also be addressed.

9:50 – 10:40 Gift Tax Audits: A Tale of Two Initiatives

Beth Shapiro Kaufman

The IRS is obtaining records from third parties and looking for unreported gifts. Current audit initiatives involve intra-family transfers of real property and transfers to 501(c)(4) organizations. Learn who is at risk, what the potential penalties are, and what strategies can be used in these cases.

10:40 – 10:55 Break

10:55 – 12:35 Question and Answer Panel

Dennis I. Belcher u Carol A. Harrington u Jeffrey N. Pennell

12:35 – 2:00 Lunch

2:00 – 5:20 FUNDAMENTALS PROGRAM (Runs concurrently with the Special Sessions)

What Every Estate Planner Needs to Know About Tax-Exempt Organizations and Charitable Gift Planning

Alan F. Rothschild, Jr. u Richard L. Fox

This program will provide the tools to effectively counsel clients on planning for both lifetime and testamentary charitable gifts, and the use and operation of charitable trusts, family foundations and donor-advised funds to further a client’s philanthropy. Topics covered will include various categories of tax-exempt organizations, income and transfer tax issues, UPMIFA, allowable restrictions and conditions on charitable gifts, drafting gift and trust agreements, and professional ethics in gift planning.


SPECIAL SESSIONS I2:00 – 3:30 FS

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I-A – Planning for Clients with $5 Million or Less

Gideon Rothschild u Bernard A. Krooks u Barry A. NelsonThis workshop will explore strategies to consider for the more modestly wealthy clients who comprise the majority of Americans. It will discuss non-tax considerations of the estate planning process including elder law, asset protection, retirement plan beneficiary issues, portability (or not) and a potpourri of other relevant issues. I-B – Family Limited Partnerships: Not Just a Passing Phase?

John W. Porter u David PrattThe panelists will review current issues and developments involving family limited partnerships, and will discuss how and why these entities are useful in an environment of higher exclusion amounts.I-C – Planning and Administering the Artist’s Estate and the Artist’s Foundation

Ralph E. Lerner u John Sare u Christine J. VincentThis workshop will examine in detail planning techniques for the visual artist, valuation issues, tax planning issues and the administration of the artist-created foundation that is funded with works of art and an endowment fund.I-D – Twenty Tax Traps and Other Trustee Selection Considerations Mark R. ParthemerThis session will identify and explore twenty tax and non-tax factors on trustee selection, including tax traps surfaced by some of the planning under TRA 2010.

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I-E – Expert Witnesses in Trust and Estate Litigation

Matthew P. Matiasevich u David E. Lieberman Julia B. Meister u Robert H. Sitkoff

Make sure that you can navigate the treacherous waters inhabited by the expert witness, where your own expert can be as much of a danger to you as those on the opposing side. From the perspective of both the litigator and the expert, learn the techniques for preparing and working with your own expert as well as for cross-examining the opponent’s, and learn to avoid the mistakes that bedevil even the most experienced litigators when they deal with expert witnesses.

I-F – Using Annuities in Estate Planning: Opportunities and Pitfalls

Mary Ann Mancini u John L. Olsen u Melvin A. Warshaw

Using commercial annuities in an estate plan has never been a very popular technique, but with the uncertainties in the economy and the new products out there, planners may be ignoring what could be a valuable tool to achieve important goals for the family. The panelists will discuss how annuities work financially, what the tax ramifications are when dealing with these assets and the benefits (and drawbacks) they can provide to the estate plan.

3:30 – 3:50 Break

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SPECIAL SESSIONS II

3:50 – 5:20 II-A – Planning for the “New Medium Sized” Estate of $5 to $15 Million

Thomas W. Abendroth u Christopher R. Hoyt Joshua S. Rubenstein

An examination of planning options for a class of wealthy taxpayers who suddenly find themselves in the sandwich generation – with enough wealth to be taxed but not enough to give away. There will be analysis of lifetime and testamentary wealth transfer strategies, as well as a focus on what happens to retirement assets that could be hit with a double-whammy of estate and income taxes.

II-B – Recent Developments for Fiduciaries

Turney P. Berry u Dana G. Fitzsimons, Jr.

With a focus on how fiduciaries and their advisors may best understand and manage fiduciary risk and related ethical challenges in an increasingly litigious and confrontational environment, the panel will review recent cases and statutory enactments from across the country and discuss trends and developments in several areas including: investments, concentrations, and special assets; distributions; surcharge exposure; disclosure to beneficiaries and evidentiary and ethical privileges; the fiduciary as client and conflicts of interest; modification of trusts; settlement, defenses, and limitations on actions against fiduciaries; jurisdiction; trust advisors; incapacity; and third party liability.

II-C – What’s New for U.S. Clients with Non-U.S. Assets?

M. Read Moore u Mark Barmes u Bruce Zagaris

This panel will discuss 2011 developments in the U.S. taxation of U.S. residents’ offshore income, including government initiatives to improve taxpayer compliance, as well as important developments outside the United States that affect U.S. clients who have offshore assets and trusts, including tax and trust law developments in Switzerland, the European Union, and offshore financial centers.

II-D – New Technologies to Deliver Better Client Services

Joseph G. Hodges, Jr. u Catherine Sanders Reach

This session will expose participants to the latest and greatest in available technologies to provide more efficient and effective client communications. These technologies can help empower your estate and financial planning clients in relatively simple and affordable ways. The speakers will discuss popular and affordable practice management tools and techniques that can be used to your financial and life-style advantage.

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II-E – Taking a Look Under the Hood – A 10 Point Diagnostic Test for Your Family Limited Partnership

Stephanie Loomis-Price u N. Todd Angkatavanich

Partnerships are viable business and estate planning tools, providing significant benefits from both tax and non-tax standpoints; however, just like maintaining a sports car, these vehicles require regular care and maintenance. This session will discuss practical tips that practitioners should consider in conducting a periodic diagnostic test of a client’s partnership, and how such a practice could protect not only the client, but also the practitioner.

II-F – Tax, Business, and Drafting Considerations of Buy-Sell Agreements

Nancy Schmidt Roush u Farhad Aghdami

This session will address important business considerations, tax aspects, and drafting issues for buy-sell agreements for closely-held companies. The speakers will cover issues applicable to both corporations (including S corporations) and limited liability companies.

THURSDAY, JANUARY 12

7:45 – 8:45 Florida Insurance: Issues Relating to Unauthorized Entities(Attendance is required for insurance professionals seeking CE credits in Florida)

9:00 – 9:50 A Hop, Jump and Generation-Skip Away with GST TaxJulie K. Kwon

The generation-skipping transfer (“GST”) tax has undergone significant changes during recent years, and numerous relief provisions are scheduled to sunset in 2012. This program will review planning considerations and opportunities in the current environment, potential effects of the upcoming sunset and ways to mitigate the GST tax consequences, and other recent developments affecting GST tax planning and compliance.

9:50 – 10:40 In-Plan Roth Rollovers: A Good Idea? Or Just Another Revenue Raiser?

Marcia Chadwick HoltA discussion of the pros, cons and caveats of rollovers toRoth accounts.

10:40 – 10:55 Break

10:55 – 11:45 Let My Trustees Go! Planning to Minimize or Avoid State IncomeTaxes on Trusts

Richard W. NennoManaging state income tax liability is a critical aspect of planning and administering a trust. If done properly, the planner may provide substantial benefits to the beneficiaries. If done poorly, the trust may be subjected to significant cost. This session will cover how states tax trust income with emphasis on key jurisdictions, how tax often may be avoided, how substantial the potential tax savings are, why a trustee might be surcharged for failing to take steps to avoid tax, and why this subject is relevant to planners in states that don’t have an income tax.


11:45 – 12:35You’re What? With Whom? But Have You Thought About...? Marriage, Domestic Partnerships, Civil Union – The Developing Legal Landscape

Wendy S. Goffe

Unmarried partners, and partners in a same-sex marriage, civil union or domestic partnership, face numerous obstacles not encountered by traditional married couples. There are also many opportunities to do good planning for same-sex and unmarried clients, to help them form and maintain a family, raise children and gain some predictability with respect to their estate plans. This presentation will provide some tools and tips to use to take advantage of the opportunities available, to bring some legal parity with married couples, and to reduce the risk of challenge and an added tax burden.

12:35 – 2:00 Lunch

2:00 – 5:20 FUNDAMENTALS PROGRAM (Runs concurrently with the Special Sessions)

Grantor Trusts: Take Nothing for GrantedAmy E. Heller u Alan S. Halperin

Most estate planners understand that the grantor trust rules are critically important. Fewer planners fully acknowledge the complexity of the rules. This session will explore the grantor trust rules, with a focus on the powers and interests that will cause a trust to be a grantor trust without causing estate inclusion and will address estate planning techniques involving grantor trusts, such as GRATs and installment sales to grantor trusts.

SPECIAL SESSIONS III

2:00 – 3:30 FS

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III-A – Planning for the Large Estate of Over $15 Million

Ann B. Burns u John F. Bergner u David A. Handler

The array of estate planning strategies available today can be mind boggling, making planning for estates in excess of $15 million especially challenging.This panel will sort out the gift, estate, and income tax consequences of various planning tools and discuss the selection of appropriate tools to accomplish client goals.

III-B – Family Limited Partnerships: Not Just a Passing Phase? (Repeat of Session I-B)

John W. Porter u David Pratt

III-C – GST Tax: Pitfalls, Pratfalls and Practical Pointers

Julie K. Kwon u Beth Shapiro KaufmanThis interactive workshop will review common factual scenarios to highlight recurring GST tax problems in drafting, post-death administration and allocations, and options to mitigate the adverse consequences or take advantage of planning opportunities.


III-D – Anyone Can Whistle - What You Should Know About the Newly Revised IRS Whistleblower Program

Martin E. Basson u Dawn M. Applebaum u Michael A. SullivanEffective December 2006, the IRS totally revamped its informant claims program. Rewards are now mandatory, unlimited in amount, and contingent fees are permissible. This panel of current and former IRS Whistleblower Office representatives and a private whistleblower attorney will discuss the current issues in this developing area of tax practice, and the practical realities of developing and pursuing tax whistleblower claims.

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III-E – Elder Financial Abuse: Protecting the Aging Client from the Den of Thieves

Bruce S. Ross u Dana G. Fitzsimons, Jr. u Vivian L. Thoreen This session will discuss the legal and ethical issues involved in deterring, minimizing, and even avoiding elder abuse through: state laws; estate and elder law planning; use of powers of attorney, medical directives, and trusts; pre-death will contests; and other techniques. It will also discuss strategies for litigating the elder financial abuse case, including: discovering abuse; adult guardianship litigation; the powers and limitations of the civil courts; multi-jurisdictional issues and judgment enforcement; and coordination with local, state, and federal authorities.

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Marcia Chadwick Holt u Alvin J. GoldenA discussion of: how to do and undo Roth conversions; creditor’s rights in inherited IRAs; caveats on prohibited transactions; and a comparison of the results under common law and community property law upon the death of the IRA owner or spouse beneficiary.

3:30 – 3:50 BreakSPECIAL SESSIONS IV

3:50 – 5:20 FS

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IV-A – The Trust Protector – Trust(y) Watchdog or Expensive Exotic Pet?

Gideon Rothschild u Alexander A. Bove, Jr. It’s no secret that the Trust Protector has become the new kid on the trust block, with powers ranging from removing and replacing trustees, to adding or deleting beneficiaries, to a virtual re-writing of the trust. But is the Trust Protector really a new idea in trust law? Which trusts should have a trust protector and who should it be? What are the pro’s and cons of giving the Protector such extensive powers and what drafting issues come into play?IV-B – The State Income Taxation of Trusts from A (Alabama) to W (Wyoming)

Richard W. Nenno u Christine L. Albright u Laurelle M. Gutierrez Laura H. Peebles u Laura M. Twomey

This session will explore in depth the fiduciary income tax approaches of key states (including California, Connecticut, Delaware, Illinois, Massachusetts, New Jersey, New York, Ohio, and Pennsylvania), with emphasis on how to minimize or avoid tax, and will offer illustrative calculations.


SAVE THE DATE!47th Annual Heckerling Institute on Estate Planning

January 14-18, 2013 at the Orlando World Center Marriott

IV-C – Charitable Gift Planning for Unmarried CouplesWendy S. Goffe u Lauren J. Wolven

This presentation will examine the charitable giving opportunities available to unmarried couples, same-sex married couples and domestic partners.IV-D – New Technologies to Deliver Better Client Services (Repeat of Session II-D)

Joseph G. Hodges, Jr. u Catherine Sanders Reach

FS

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Lee Slavutin A review of the process for a trustee of an ILIT to monitor life insurance policies including carrier financial strength, product suitability, policy performance, policy pricing, and health of the insured. The Cochran and Paradee cases will be reviewed and a comprehensive checklist to help the trustee will be provided.

FRIDAY, JANUARY 13

9:00 – 9:50 Asset Protection & Estate Planning – Why Not Have Both?Barry A. Nelson

What should planners consider in selecting a situs to enhance assetprotection upon creation of an LLC, partnership, or trust or to obtain tenants-by-the-entireties protection? What lessons should be learned as asset protection techniques have been tested? How can we maximize protection using the $5 million exclusion amount? How do we ethically protect clients’ assets after a liability exists?

9:50 – 10:40 Charitable Gifts: Annuities and Remainders in Personal Residences and Farms

Conrad TeitellCharitable remainder trusts are in the spotlight at many conferences, but gift annuities are not bit players. They are the mainstay for many charities and their donors. Plus, remainders in residences and farms enable donors to have their cake and eat it too. Topics covered will include: income, gift and estate tax rules; assuring the marital deduction and solving problems and avoiding pitfalls.

10:40 – 10:50 Break10:50 – 12:00 That’s a Wrap!

Bruce M. Stone u Elaine M. Bucher u Wendy S. GoffeUncertainty, flux, and even chaos abound in the world of estate planning. Throughout the week an all-star cast will have presented various ideas for building flexibility into estate plans to cope with that uncertainty. This final session will assemble and edit ideas from those presentations to produce a director’s cut on the sea changes in the way we practice, and what those changes mean for estate planners now and going forward.

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Registration The $975 registration fee includes admission to the educational sessions, continental breakfasts,

the Monday evening Institute reception, and one set of reference materials. To register online please visit our website. You may also mail your completed registration form, and payment by check (payable to the University of Miami School of Law), or credit card. Faxed registrations will be accepted only for those paying by credit card. Register by Friday, November 4, 2011 to be included in the Conference Guide & Registration List distributed at the Institute. For additional information please call 305-284-4762.

Materials The Registration fee includes one set of materials available in: print, CD-ROM, USB, or our New

one-time download format for laptops and tablets (materials may only be downloaded onsite during the Institute - estimate 50MGs). Conference materials are copyrighted and cannot be duplicated, reused, or shared. Additional materials may be purchased for $250.

Cancellations, Complaints, and Refunds Registration fees are refundable (less a $75 administrative fee) if written notice is received no later

than 12 Noon EST, Friday, December 23, 2011. For more information regarding administrative policies such as complaints or refunds, please call 305-284-4762. Refunds are not available for guest programs.

Proceedings LexisNexis Matthew Bender, will publish the proceedings of the Institute. Registrants may purchase

the volume at the LexisNexis exhibit booth. The proceedings of the 45th Annual Heckerling Institute (January 2011) are now available from LexisNexis. For further information, please direct your inquiries to LexisNexis Matthew Bender at 800-833-9844 or visit www.lexisnexis.com.

Graduate Program in Estate Planning The University of Miami School of Law is the home of a unique law school-based Graduate Program

in Estate Planning. For more information on our graduate program visit: www.law.miami.edu/estateplanning.

GUEST PROGRAMS

GENERAL INFORMATION

The Heckerling Institute offers the following programs for our registrants’ guests. To register, pleasecomplete the appropriate section on the Institute registration form.

Tuesday, January 10th - Cooking Healthy for Two (10:00 a.m. – 3:00 p.m. $75) Learn how to prepare mouth-watering, healthy but delicious recipes for two including Sunday

brunches, romantic dinners and weeknight meals. The day includes a gourmet celebration where you can enjoy the fruits of your labor!

Wednesday, January 11th - Salvador Dali Museum (9:00 a.m. – 4:30 p.m. $50) We will transport you to St. Petersburg, FL for a private, docent led tour of the newly reopened Dali

Museum. This iconic museum has the most comprehensive collection of works by the late Spanish surrealist on this side of the Atlantic.

Thursday, January 12th – 5 Myths of Art Collecting (9:00 – 10:00 a.m. $15) This presentation will discuss misconceptions in the art world, in particular, how escalating art

values and traditional versus new sales models (such as on-line sales databases) are changing the way art is purchased and the corollary ownership risk for collectors. Presented by: Judith Pearson, President, ARIS Title Insurance Corporation


Accreditation Continuing legal education credit has been applied for in every state that has mandatory continuing

legal education requirements and has been routinely granted for past Institutes. In the past, continuing education credit has also been available for other estate planning professionals, including financial planning, banking and insurance professionals. We urge you to contact our office in advance with questions regarding the availability of credit for a specific jurisdiction or profession, as we cannot guarantee that credit will be available in all cases. University of Miami School of Law is registered with the National Association of State Boards of Accountancy (NASBA) as a sponsor of continuing professional education on the National Registry of CPE Sponsors. State boards of accountancy have final authority on the acceptance of individual courses for CPE credit. Complaints regarding registered sponsors may be addressed to the National Registry of CPE Sponsors, 150 Fourth Avenue North, Suite 700, Nashville, TN, 37219-2417. Web site: www.nasba.org Program Level: Advanced; Program Prerequisites: General familiarity with estate planning principles; Delivery Method: Group-Live; Recommended CPE credit: 33.5 hours. No advance preparation required. Learning Objectives: Upon completion of the program, participants will be able to identify, analyze and resolve practical estate planning, administration and tax reporting issues.

Headquarters Hotel Orlando World Center Marriott Resort & Convention Center Conference Rate: $222 (single/double) Cut-Off Date: December 16, 2011 Reservations: 800-266-9432 or visit www.law.miami.edu/heckerling

Alternate Hotel Accommodations Marriott Village at Lake Buena Vista (complimentary shuttle service to/from conference site) Conference Rate: $182 (single/double) Cut Off Date: December 16, 2011 Reservations: 877-682-8552 or visit www.law.miami.edu/heckerling

Marriott’s Sabal Palms / Marriott’s Royal Palms (located on the World Center Golf Course) Reservations: 888-800-4352 ext. 6344 (rates vary)

All hotel rates are subject to availability

Discounted Transportation

Avis is the official car rental company for the Institute. 800-331-1600 or visit www.avis.com (Discount Code: J787579)

Mears Transportation provides airport shuttle service for the Institute. 800-759-5219 or visit www.law.miami.edu/heckerling for a printable discount voucher

Complimentary Evening Transportation

Complimentary shuttle to selected dining and entertainment areas will be provided nightly. Downtown Disney: Monday 7:00 p.m. - Midnight & Wednesday 6:00 p.m. - Midnight Universal City Walk: Tuesday 6:00 p.m. - Midnight & Thursday 6:00 p.m. - Midnight

* The Heckerling Institute on Estate Planning reserves the right to change, with or without notice, any statement in this brochure concerning, but not limited to, rules, policies, tuition, fees, curriculum, courses, faculty and programs.

TRAVEL ARRANGEMENTS


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