Posts Categorized: Program Recap

BBA Event Recap: Lifetime Planning on Death’s Door

Program Date:  Friday, February 24, 2017

Panelists:  Jaclyn S. O’Leary and Sean T. Donovan of  Day Pitney LLP

Program Chairs:  Sara Goldman Curley of Nutter McClennen & Fish LLP and David L. Silvian of Day Pitney LLP, co-Chairs of the Estate Planning Committee

Materials:  To view the program materials, click here.

Summary of Program Topic:  The panelists for this program discussed opportunities for income and estate tax savings that attorneys can provide to clients who are nearing the end of their lives. It also covered practical steps that attorneys can take in order to make sure that clients’ wishes are carried out and unpleasant surprises are minimized.

 

BBA Event Recap: Non-Judicial Settlement Agreements – How Are They Being Used?

Program Date:  Wednesday, February 8, 2017

Panelists:  Sara A. Wells of Morgan Lewis, Eric David Karlberg of Prince Lobel Tye LLP, and Alison Irving Glover of Mintz, Levin, Cohn, Ferris, Glovsky and Popeo, P.C.

Program Chairs:  Stacy K. Mullaney of Fiduciary Trust Company and Liza M. Connelly of Boston Private, co-Chairs of the Trust Administration Committee

Materials:  To view the program materials, click here.

Summary of Program Topic:  The Massachusetts Uniform Trust Code was enacted more than four years ago.  In the years since, trustees and beneficiaries have utilized non-judicial settlement agreements to resolve matters and effect various changes to irrevocable trusts.  The program provided an expert panel of trusts & estates attorneys on how non-judicial settlement agreements are being used by trustees to facilitate trust administration and resolve issues.  It explored the issue of what is a “material purpose” and who are the “interested persons” who need to be a party to an non-judicial settlement agreement, key terms under the law.  The panelists also shared some examples of matters they have handled with non-judicial settlement agreements and some key issues that arise for a trustee or attorney advising a trustee to consider.

 

Practice Fundamentals Series: Estate, Gift and GST Tax Basics for the New Estate Planner

Program Date: Monday, November 28, 2016

Panelists: Susan A. Robb of First Republic Trust Company and Danielle R. Greene of Boston Private

Program ChairsHeidi Seely of Rackemann, Sawyer & Brewster, P.C. and Nikki Marie Oliveira of Bass Doherty & Finks, P.C.

Materials: Click here for panelists’ handout.

Program Topic:  Panelists provided an introduction to the estate, gift and generation-skipping transfer taxes.  The program content included a review of the key components of each tax, how the taxes related to one another, and context of the relevancy of each tax for purposes of preparing an estate plan.

BBA Event Recap: Trust Owned Real Estate – Navigating the Administration Issues

Program Date:  Wednesday, November 9, 2016

Panelists: Liza Connelly of Boston Private and Stacy K. Mullaney of Fiduciary Trust Company.

Program Chairs:  Liza Connelly of Boston Private and Stacy K. Mullaney of Fiduciary Trust Company, co-Chairs of the Trust Administration Committee

Materials:  To view the program materials, click here.

Summary of Program Topic:  This program covered the myriad of issues facing trustees who hold real estate in irrevocable trusts such as issues on trustee succession, insurance, expense allocation between trust and beneficiary-occupant and between trust income and principal, and the obligation to obtain “highest and best” price in a sale of real estate.  The panelists discussed the issues facing trustees when administering trust-owned real estate and how to avoid potential pitfalls in both the administration and the sale of real estate.

 

 

BBA Event Recap: Estate Planning for Owners of Closely Held Businesses

Program Date:  Friday, October 28, 2016

PanelistsJeffrey W. Roberts and Johanna L. Wise Sullivan of Nutter McClennen & Fish LLP

Program Chairs:  Sara Goldman Curley of Nutter McClennen & Fish LLP, and David L. Silvian of Day Pitney LLP, co-Chairs of the Estate Planning Committee

Materials:  To view the program materials, click here.

Summary of Program Topic:  This program provided an overview of key issues and planning points that attorneys should keep in mind when engaging in estate planning for a business owner.  It included an overview of different tax structures (C corporations, S corporations and LLCs), other structural issues (women owned businesses and business succession planning), and drafting considerations.  The panelists also discussed planning options, including the use of discounted valuations, freezing techniques and liquidity issues.

 

BBA Event Recap: Planning for Contested Estates: Estate Planning Strategies to Avoid (or Prevail In) Litigation

Program Date: Tuesday, October 18, 2016

PanelistsAlison Irving Glover of Mintz, Levin, Cohn, Ferris, Glovsky and Popeo, P.C., Marshall D. Senterfitt of Goulston & Storrs, and Ryan P. McManus of Hemenway & Barnes LLP

Program ChairsMarshall D. Senterfitt of Goulston & Storrs and Ryan P. McManus of Hemenway & Barnes LLP, co-Chairs of the Fiduciary Litigation Committee

Materials:  To view the program materials, click here.

Summary of Program Topic:  This program provided an in-depth review of estate planning strategies and best practices to be employed when a contest is possible or even likely.  The program focused on steps that can be taken during the planning stage to reduce the likelihood of litigation and to ensure that an estate plan, if challenged, will be upheld.  The panelists included a discussion of procedures that can be employed to try to achieve certainty and finality when litigation is anticipated.

 

 

BBA Event Recap: Estate Planning with Retirement Benefits – Part II

Program Date: Friday, September 23, 2016

PanelistSuma V. Nair, Goulston & Storrs

Program Chairs: Sara Goldman Curley of Nutter McClennen & Fish LLP, and David L. Silvian of Day Pitney LLP, co-Chairs of the Estate Planning Committee

Materials:  To view the program materials, click here.

Summary of Program Topic:  This program provided an in-depth review of estate planning with retirement benefits as a follow up to last spring’s introductory program.  It included a discussion of the different options for a surviving spouse who receives retirement benefits, drafting tips, traps for the unwary, the practical issues that arise when it comes time to implement beneficiary designations, and ideas to fix issues that come up during estate administration.

 

 

BBA Event Recap: Non-Judicial Settlement Agreements

Program Date: Friday, May 6, 2016

Panelist: Jeffrey W. Roberts, Esq. and Johanna L. Wise Sullivan, Esq., both of Nutter McClennen & Fish LLP

Program Chairs: Kerry L. Spindler, Goulston & Storrs PC  and Sara Goldman Curley, Nutter McClennen & Fish LLP, co-Chairs of the Estate Planning Committee.

Materials:  To view the program materials, click here.

Summary of Program Topic: The use of non-judicial settlement agreements under the Massachusetts Uniform Trust Code as a way to resolve ambiguities or other issues with irrevocable trusts without having to go to the Probate Court. The program reviewed the basics of non-judicial settlement agreements.

 

 

Practice Fundamentals: Estate Planning with Real Estate

Program Date: Wednesday, April 6, 2016

Panelist: Matthew G. Karr, Esq. of the Heritage Law Center

Program Chairs: Anne L. Warren of Brown Brothers Harriman & Co.,   Tamara Lauterbach Sturges of Egleson & Sturges, LLC, and Heidi Seely of Rackemann, Sawyer & Brewster, P.C.

Materials: Click HERE for the panelists’ materials:

Program Topic: Real estate is an essential part of most family’s financial portfolio and is the perhaps the most common asset an estate planner will need to consider in creating an estate plan.  Real estate also requires many considerations in the estate planning context including tax planning, asset protection and conveyancing options.  This program examined these issues and the most common estate planning techniques to deal with them.

BBA Event Recap: Estate Planning With Retirement Benefits

Program Date: Friday, March 18, 2016

Panelist: Suma V. Nair, Esq., of Goulston & Storrs, PC

Program Chairs: Kerry L. Spindler, Goulston & Storrs PC  and Sara Goldman Curley, Nutter McClennen & Fish LLP, co-Chairs of the Estate Planning Committee.

Materials:  To view the program materials, click here.

Summary of Program Topic: The program provided an overview of estate planning with retirement benefits, including a discussion of the most effective ways to make retirement benefits payable to trusts, traps for the unwary, the practical issues that arise when it comes time to implement beneficiary designations, and ideas to fix issues that come up during estate administration.