ADVANCED TAX INSTITUTE – DAY TWO – ESTATE PLANNING ISSUES
8:30 am – 10:10 am
Planning for Uncertainty: Strategies for Doing Good in a Volatile World
Jennifer B. Goode, J.D., Director, Institute for Trust and Estate Planning and Shea McCabe, CFP®, MBA, Associate Director, Wealth Strategist, Bernstein Wealth Management
This session considers the current economic and tax landscape’s potential effects on sophisticated philanthropic planning strategies. More specifically, we will discuss the impact of today’s market conditions on the use of split-interest trusts and how best to leverage non-charitable trust distributions to support a client’s charitable and tax planning goals. Additionally, we will review the benefits and drawbacks of using certain “non-traditional” planning vehicles to achieve a client’s larger philanthropic aims.
10:10 – 10:20 am Break
10:20 am – 12:00 pm Annual Federal Estate and Gift Tax Update
Beth Shapiro Kauffman, J.D., Partner, Lowenstein & Sandler
Megan Wernke, J. D., Partner, Lowenstein & Sandler
The panelists will discuss the year’s important developments in the federal estate and gift tax areas. The discussion will include any new proposed or final regulations and other IRS guidance, new case law, and the potential for legislation.
12 – 12:45pm Lunch
12:45 pm – 2:25 pm Not Just Asking: IRS Audits in Theory and Practice
Jay Nanavati, Partner and Andrew Weiner, Counsel, Kostelanetz, LLP
This panel demystifies the audit process and prepares you for the next time your client receives a dreaded IRS audit letter. You will learn how the IRS selects returns for audit, what to expect and how to advise clients. You will also learn the warning signs that a civil audit may be headed in the direction of a criminal investigation and how to guard against the possibility. Finally, you will see how the process works in practice by focusing on IRS examinations of Malta pension plans, one of the current “Dirty Dozen” tax scams that are enforcement priorities.
2:25 – 2:35 pm Break
2:35 pm – 4:15 pm IRA New Rules and Tax / Estate Planning
Tom Lenkiewicz, CFP®, CPWA®. Executive Director and Jonathan Oliver, Managing Director, JP Morgan
Signed into law by President Biden on December 29, 2022 the voluminous SECURE Act 2.0 added over 90 new provisions to the Internal Revenue Code. The intent of this legislation was to enhance workers’ ability to save for retirement by increasing contribution limits and flexibility for retirement accounts. It has also created opportunity for proactive advice in the arena of selecting the right savings vehicles, optimizing contributions, asset location, planning for required minimum distributions and estate planning.
