Posts Categorized: Program Recap

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.

 

 

BBA Event Recap: Trust Accountings and Terminations: Identifying Options and Addressing Risks

Program Title: Trust Accountings and Terminations: Identifying Options and Addressing Risks

Program Date: Wednesday, February 24, 2016

Panelists: Jennifer Locke, Esq. of Goodwin Procter LLP

Program Sponsor: Peter M. Shapland of Day Pitney LLP and Stacy K. Mullaney of Fiduciary Trust, co-Chairs of the Trust Administration Committee

Materials:  Because of file size, the handouts are broken into the following four parts:

Part 1

Part 2

Part 3

Part 4

Summary of Program Topic: The program explored various methods to render trust accounts, including final accounts. The discussion included accounting requirements for testamentary trusts, accounting clauses in trust instruments, options under the MUPC and MUTC, and managing risks in rendering final accounts.  The panelist reviewed the trustee’s options to render accounts and ways to minimize the trustee’s liability upon termination of a trust.

Practice Fundamentals Series: Basic Estate Planning Documents II: Revocable Trust

Program Date: Wednesday, March 2, 2016

Panelists: Courtney N. Carr, Esq. and Jessica L. Lambert, Esq. both of Choate, Hall & Stewart LLP

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:  The Panelists reviewed the key components of revocable trusts, including funding formulas, marital provisions, possible trust structures for children and other beneficiaries, and trustee provisions.  They also provided drafting suggestions and advice on avoiding certain pitfalls when advising clients about establishing revocable trusts.

Practice Fundamentals Series: Intro to Gift Tax Return Preparation

Program Date: Wednesday, February 3, 2016

Panelists: Ruth Matson, Esq. of Bove & Langa, P.C. and Karen L. McKenna, Esq. of Tarlow, Breed, Hart & Rodgers, P.C.

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 on each of the following links for the panelists’ materials:

Presentation Outline

TAB A-SAMPLE 709

TAB B-709 Instructions

TAB C-Sample GST Allocation

TAB D-QPRT Adequate Disclosure Example

TAB E-Late GST Allocation Example

Program Topic: The speakers provided an overview of the federal gift tax return (Form 709).  This form is used to report and pay tax on lifetime gifts and is an integral part of the estate planning process.  The presentation covered the general purposes and structure of the form, as well as provided tips for preparing it.

BBA Event Recap: Trusts & Estates Section Mid-Year Review

Program Title: Trusts & Estates Section Mid-Year Review

Program Date: Friday, January 22, 2016

Panelists: Melissa E. Sydney of Burns & Levinson LLP, Allison Whitmore of Mintz, Levin, Cohn, Ferris, Glovsky and Popeo, P.C., Christopher M. Falzone of Rockland Trust Company, and Valerie Sussman of Sullivan & Worcester LLP

Program Sponsor: Trusts & Estates Section

Materials:  To view the program materials, click HERE.

Summary of Program Topic: The Trusts and Estates Section Mid-Year Review covered recent federal and state case law, legislation and tax law matters. This year’s Mid-Year review included:

  • recent developments in Massachusetts case law, including a discussion of protecting trust assets from a divorcing spouse, income tax issues relating to trust situs and lessons on testamentary capacity
  • review status of pending legislation, including the pending Massachusetts estate tax bill
  • review final regulations on portability, proposed regulations under Code Section 2801, and discuss the Redstone and Obergefell cases.

BBA Event Recap: Maximizing Community Benefits

Program Title: Maximizing Community Benefits: Helping Clients Avoid Nursing Home Placement and Access Medicaid Coverage for Home Care and Assisted Living

Program Date: Tuesday, January 19, 2016

Panelists: Patricia C. D’Agostino of Margolis & Bloom

Program SponsorRebecca J. Benson of Margolis & Bloom and Gary Zalkin of Zalkin Law, co-Chairs of the Elder Law and Disability Planning Committee

Materials:  To view the program materials, click HERE.

Summary of Program Topic:  The state has rolled out several new programs to help keep elders and people with disabilities in the community, including the Home and Community Based Waiver (the “Frail Elder Waiver”), Adult Foster Care, Personal Care Attendant, Community Choices, Program for All Inclusive Care for the Elderly (“PACE”), and Senior Care Options (“SCO”). The clinical estate financial eligibility rules are complex and new programs are introduced often. A knowledgeable estate planner can help clients create eligibility, lengthen the life of their assets and remain at home for as long as possible.

Practice Fundamentals Series: Gift Planning Basics: Taxable Gifts – Definitions, Opportunities and Potential Pitfalls

Program Date: Wednesday, January 6, 2016

Panelist: Annette K. Eaton, Esq., Nixon Peabody LLP

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 panelist’s handout.

Program Topic: The speaker provided an overview of common gifting strategies every estate planning practitioner should have in his or her toolkit.  Through case studies, the speaker reviewed: (i) annual exclusion gifting; (ii) gifting to minors; (iii) gifting fractional interests; (iv) GRATs; and (v) charitable gifting strategies.

BBA Event Recap: When A.R.T. is the Issue: The Impact of Assisted Reproductive Technologies on Estates and Probate

Program Title: When A.R.T. is the Issue: The Impact of Assisted Reproductive Technologies on Estates and Probate

Program Date: Tuesday, November 20, 2015

Panelists: Lisa M. Cukier, Esq. and David Raymon, Esq., both of Burns & Levinson LLP

Program SponsorsFamily Law Section, Health Law Section, Estate Planning Committee

Materials:  To view the program materials, click here.

Summary of Program Topic: The panelists discussed assisted reproductive technologies and its impact on estate planning, family law and probate.  During their presentation, the panelists reviewed statutes and case laws that control ownership of genetic material, what constitutes parentage and how to dispose of embryos in estate plans.

Practice Fundamentals Series: Basic Estate Planning Documents I: Will, Introduction to the Revocable Trust, Power of Attorney and Health Care Proxy

Program Date: Wednesday, December 2, 2015

Panelist: Melissa E. Sydney, Esq., of Burns & Levinson LLP

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 panelist’s handout.

Program Topic:  The speaker provided an introduction to basic estate planning documents.  She reviewed the key components of wills, health care proxies, durable powers of attorney, and touched on the basics of revocable trusts.  The speaker also provided drafting suggestions and advice on avoiding certain pitfalls when advising clients about their estate plan.