11:55 Welcome and Introductions
12:00 Recent Developments
Stephen A. Brown, Young Moore & Henderson PA, Raleigh
Tyler F. Chriscoe, Young Moore & Henderson PA, Raleigh
Chadwick I. McCullen, Young Moore & Henderson PA, Raleigh
Stephanie R. Poston, Young Moore & Henderson PA, Raleigh
Review recent federal statutory developments and cases involving trust, estate, gift and income tax matters and North Carolina case law.
1:40 Legislative Update
M. Kemp Mosley, Narron Wenzel PA, Raleigh
Receive an overview of recently enacted North Carolina statutory provisions.
2:25 Estate Planning & Fiduciary Law Section Annual Meeting
2:50 Migrating Community Property: Cashing In on That Hot Ticket to Paradise
Debra L. Foster, Debra L. Foster PLLC, Charlotte
Holly B. Norvell, Johnston Allison & Hord PA, Charlotte
With an increasingly transient population, new clients move to North Carolina and bring community property from their prior states of residence. How do we as practitioners recognize community property and implement effective plans to preserve the spousal rights and favorable tax attributes of community property? This presentation provides practical planning tips for clients who own community property and reviews various approaches for dealing with the challenges and opportunities presented by community property imported into a separate property jurisdiction.
4:00 Putting "Success" Back Into Business Succession Planning
Thomas J. "Tom" Pauloski, Bernstein Global Wealth Management, Chicago, IL
Despite an $11.7 million estate tax exclusion, passing a family business on from one generation to the next may be more complicated today than it has ever been. In this compendium of case studies, we discuss how to advise business owners in the current environment. The presenter uses Bernstein's proprietary wealth forecasting model to test strategic alternatives in four contexts: (i) a young entrepreneur who is planning for a second liquidity event, (ii) two brothers who are trying to decide how to find a buy-sell agreement, (iii) a business owner who would like to transfer his low-cash flowing business to the next generation, and (iv) a real estate entrepreneur who is considering the potential benefits of valuation discounts.
5:15 Virtual Cocktail Hour