MONDAY, JANUARY 10, 2022
8:55 Welcome and Introductions
9:00 Wills
Koral F. Alman, The Van Winkle Law Firm, Asheville
Hear an overview on wills in North Carolina, including the capacity to create a will and requirements for execution.
10:04 North Carolina Uniform Trust Code
S. Kyle Agee, Johnston Allison & Hord PA, Charlotte
Reviews the law on trusts in North Carolina, including the North Carolina Uniform Trust Code, and related concepts.
11:07 Break
11:17 Probate Law
Sara Page H. Waugh, Moore & Van Allen PLLC, Charlotte
During this overview on North Carolina probate law, the presenter walks through the process and requirements for dealing with assets in an estate.
12:18 Lunch Break
12:48 Charitable Giving
Douglas W. "Doug" Benson, Foundation for the Carolinas, Charlotte
Discuss charitable giving strategies and vehicles, as well as the related tax implications.
1:47 Partnerships, LLCs and Corporations
Elinor J. "Elie" Foy, Womble Bond Dickinson (U.S.) LLP, Raleigh
Examine the types of business entities available to clients and considerations for choice of entity. This session also discusses various estate tax and probate issues that arise from the death of an owner of a closely held business.
2:46 Break
2:56 Estate Planning With Powers of Attorney, Guardianship and Ward
Linda Funke Johnson, Senter Stephenson & Johnson PA, Fuquay-Varina
This session explores planning opportunities utilizing a power of attorney drafted under the 2018 enactment of N.C.G.S. § 32C. Review the practical application of guardianship law to guardianships located in North Carolina, as well as transfers of guardianships into and out of North Carolina.
3:58 Adjourn for the day
TUESDAY, JANUARY 11, 2022
8:55 Announcements
9:00 Fiduciary Income Taxation of Trusts and Estates
Sandi O. Thorman, GreerWalker CPAs & Advisors, Charlotte
Dive into a discussion of fiduciary income taxation, starting with the definitions of fiduciary accounting income (FAI), taxable income and distributable net income (DNI). The presenter then shares planning ideas to minimize regular tax, alternative minimum tax (AMT), and the 3.8% net investment income tax (NIIT) for both the trust or the estate and the beneficiaries.
10:00 Gross Estate and Estate Valuation
Doris J. "Dori" Dixon, Schell Bray PLLC, Greensboro
This segment covers generally the types of property and transfers that are includible in the gross estate for federal tax purposes, followed by a review of the general statutory, judicial and administrative treatment of valuation of the gross estate.
11:02 Break
11:12 Transfer Taxes: Estate, Gift and Generation-Skipping Transfer
Paul M. Hattenhauer, Culp Elliott & Carpenter PLLC, Charlotte
Review the basic rules regarding federal transfer taxes, including - estate tax, gift tax and generation-skipping transfer tax. Learn about the calculation of deductions and credits related to the federal estate tax for a decedent's estate; the various available exclusions, exemptions and deductions from gift tax and the valuation of taxable gifts; and the fundamentals of generation-skipping trusts and transfers.
12:43 Lunch Break
1:13 Retirement Benefits
John R. Cella Jr., Ragsdale Liggett PLLC, Raleigh
Explore planning considerations for retirement benefits, including beneficiary designation forms, naming trusts as a beneficiary, and tax implications resulting from the SECURE Act.
2:13 Life Insurance
John R. Cella Jr., Ragsdale Liggett PLLC, Raleigh
Beginning with a general overview of estate planning and business succession planning opportunities with life insurance, this session focuses on practical drafting considerations and planning opportunities, including traditional ILITs and buy-sell agreements.
3:14 Break
3:24 Recent Tax Changes
Christopher N. "Chris" Hewitt, Womble Bond Dickinson (U.S.) LLP, Winston-Salem
Consider federal litigation priorities and the implications to clients if enacted, plus strategies for planning in an uncertain environment.
4:27 Adjourn
Thank you for joining us today for 2021 Estate Planning & Probate Law Survey Course. We'll see you tomorrow.
Designed for individuals who practice or are beginning to practice in the estate planning and probate law areas, the 2021 Estate Planning & Probate Law Survey Course provides an overview of key concepts and discusses practical considerations, planning strategies and opportunities.
S. Kyle Agee is a partner with Johnston Allison & Hord PA in Charlotte. He primarily represents the business owners of closely-held and family companies in tax, business succession and estate planning matters. When tax laws change, such as the enactment of the 2018 Tax Cuts and Jobs Act, Kyle works with clients to ensure their business and estate plans are as tax-advantaged as possible.
Estate and trust administration are additional strengths of Kyle's practice. Representing both professional fiduciaries and families, he works with them to ensure the wishes of the family are carried out. He also represents banks who serve as fiduciaries, executors and advisors on highly complex and emotionally-charged estate issues that involve estranged or difficult family members. He is frequently brought in to help bank clients problem-solve when contentious disputes arise among their clients' representatives. In addition, working closely with in-house counsel, he serves as an outside authority to multi-office regional banks, assisting with matters relating to agency, estate and trust accounts, plus other fiduciary concerns.
Kyle is a Certified Specialist in Taxation by the South Carolina Supreme Court.
Kyle received his B.S. degree in Mathematics from The Citadel, his J.D. degree from the University of South Carolina School of Law and his LL.M. degree in Taxation from the University of Florida.
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Koral F. Alman is a partner with the Van Winkle Law Firm in its Trust, Estate and Elder Law Practice Group. Her practice focuses on the areas of estate planning and estate and trust administrations. She works with families in assisting with the preparation of both simple and complex estate plans as well as assisting clients with small businesses, blended families, minor children or other special concerns or circumstances.
Koral received her B.A. degree from the University of Florida and her J.D. degree from Washington and Lee University School of Law.
Koral is licensed to practice in both North Carolina and Florida.
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Douglas W. "Doug" Benson is General Counsel and Senior Vice President at Foundation For The Carolinas in Charlotte, the fifth-largest community foundation in the United States. manages its legal and investment teams and plays a lead role in the Foundation's philanthropic advancement work. He oversees governance and compliance for the Foundation and its affiliates, including 11 supporting organizations.
Doug works closely with donors and professional advisors to implement sophisticated lifetime and testamentary giving techniques to accomplish the donors' philanthropic and tax objectives. He coordinates the negotiation and acceptance of complex gifts, including closely held business interests, real estate and other non-cash assets. Since joining the Foundation, he has helped facilitate charitable gifts of non-cash assets in excess of $300 million.
Previously, Doug practiced law for 12 years with Moore & Van Allen PLLC in Charlotte and with Sutherland Asbill & Brennan LLP (now Eversheds Sutherland) in Washington, D.C. During this time, he advised families of substantial wealth on estate, tax and charitable planning matters.
Doug serves on several boards and committees, including the CMS Foundation, the Queens University Estate Planners Day Steering Committee (Chair 2019/2020), and the Duke University Estate Planning Council. He is a frequent speaker on a broad range of charitable and estate planning topics, including charitable gifts of closely held business interests, planned giving, board governance and tax-exempt entities.
Doug earned his B.A. in Economics from the University of Rochester and his J.D. from Duke University School of Law.
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John R. Cella, Jr. is Of Counsel with Ragsdale Liggett PLLC in Raleigh. He counsels clients in trust, estate, business, and related tax planning matters. His estate planning representations include simple will planning, pour-over will and revocable trust planning, and taxable estate planning with irrevocable grantor and non-grantor trusts. He also advises on North Carolina probate and federal income, estate, gift, and generation-skipping tax (GST) law consequences of lifetime and post-mortem transfers.
John's ERISA and compensation background is valuable when advising clients regarding their qualified retirement plans, IRAs, equity compensation, and deferred compensation. John also works with executors, trustees, and beneficiaries in simple and complex estate administration matters, routine or contentious, including trust termination, modification, and decanting matters.
John has been recognized by The Best Lawyers in America for trusts and estates, ERISA, and tax law since 2018. Business North Carolina magazine also has included John in its Legal Elite for tax and estate planning. He is a member of the North Carolina Bar Association's Business and Estate Planning and Fiduciary Law Sections, South Carolina Bar and the Wake County Estate Planning Council.
John received his B.A. in History from the University of North Carolina at Chapel Hill, his B.A. in Economics from the University of South Carolina, his J.D. from the University of South Carolina School of Law, and his LL.M. in Employee Benefits, with honors, from The John Marshall Law School.
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Doris J. "Dori" Dixon is the founder of Southpoint Estate Planning in Durham. She enjoys helping families navigate important legal issues including: wills, trusts, special needs planning, guardianships, long-term care planning, Medicaid, estate administration, probate, powers of attorney, healthcare powers of attorney, and living wills.
In addition to her time in the office, Dori also enjoys teaching and was an Adjunct Associate Professor of Law at the University of North Carolina School of Law, teaching Elder Law, Estate Planning, and Special Needs Planning.
Dori served as President of the North Carolina Chapter of the National Academy of Elder Law Attorneys and Chair of the Elder and Special Needs Law Section of the North Carolina Bar Association.
Dori earned her B.A., magna cum laude, from Appalachian State University and her J.D. from the University of North Carolina at Chapel Hill School of Law.
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Elinor J. "Elie" Foy is a partner at Wyrick Robbins Yates & Ponton in Raleigh. Her practice focuses on wealth transfer planning, charitable planning, and trust and estate administration. She advises individual clients on various estate planning issues, including the tax-efficient transfer of wealth and business succession planning. In addition, she advises private foundations, supporting organizations, public charities and other nonprofit organizations about governance, tax compliance, grant-making, and fundraising issues.
Elie is a Fellow in the American College of Trust and Estate Counsel and is certified as a Specialist in Estate Planning and Probate Law by the North Carolina State Bar Board of Legal Specialization. She is a frequent speaker on trusts and estates topics.
Elie earned her B.A. from the University of North Carolina at Chapel Hill, her J.D. from Wake Forest University, where she was a Dean's Merit Scholar, and her LL.M. in Taxation from Georgetown University, with distinction.
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Paul M. Hattenhauer is a member of Culp Elliott & Carpenter PLLC in Charlotte, and chair of the firm's Estates and Trusts practice group. His practice is focused on estate planning, sophisticated charitable giving, business succession planning, and tax and business matters for closely held business owners, entrepreneurs, and their families.
Paul is licensed to practice law in North Carolina and Florida, he is a member of the Estate Planning and Fiduciary Law Section of the North Carolina Bar Association, a North Carolina Board Certified Specialist in Estate Planning and Probate Law, a member of the American Bar Association (and a member of the Real Property Probate and Trust Law Section), and a member of the Mecklenburg County Bar Association.
Paul received his B.S. degree in Accounting, summa cum laude, from Saint John's University, Collegeville, Minnesota, his J.D. degree, cum laude, from the University of Minnesota School of Law, and his LL.M. degree in Estate Planning from the University of Miami School of Law.
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Christopher N. "Chris" Hewitt is of counsel with Womble Bond Dickinson (US) LLP in Raleigh. He is a corporate & securities and private wealth lawyer, focusing his practice in the areas of generational wealth transfer planning, trust and estate administration and tax-exempt planning.
Chris provides clients with customized planning advice to assist with the generational transfer of wealth during lifetime and at death. His previous legal experience in a corporate transactional practice enables him to more effectively serve business owners and the challenges they face in transitioning assets to successive generations. He also assists clients in the creation of family limited liability companies to own and manage family assets. Additionally, he advises individual and corporate trustees on judicial and non-judicial modifications and decanting of irrevocable trust agreements when existing trust language has become impractical.
Chris also advises clients on the creation of tax-exempt entities and the subsequent administration of those entities. He advises existing tax-exempt clients on various issues, including their charitable solicitation license compliance programs.
Chris actively speaks on legal development and trends within the trusts and estates practice. He is a member of the Estate Planning & Fiduciary Law Section of the North Carolina Bar Association and Director and President of the Estate Planning Council of Winston-Salem.
Chris earned his B.B.A., summa cum laude, in Trust and Wealth Management from Campbell University and his J.D., cum laude, from Wake Forest University School of Law.
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Linda Funke Johnson is the managing attorney of Senter Stephenson Johnson PA in Fuquay-Varina. Her principal areas of practice are Estate Planning, Probate, Real Property and Guardianship.
Linda is a Board Member of the North Carolina Bar Association Board of Governors (2019-2022), member of the Executive Committee of the Board of Governors (2021-2022) and a member of the Elder Law Section, Estate Planning and Fiduciary Law Section, and Real Property Section of the North Carolina Bar Association. She is formerly the Chair of the Estate Planning and Fiduciary Law Section (2017-2018), Co-Chair of the Legislative Committee of the same section (2015-2017), and Chair of the North Carolina State Bar Legal Specialization Committee, Estate Planning and Probate Law.
Linda earned her Specialization designation in 2007 and became a Fellow, American College of Trust and Estate Counsel in 2018. She is previously a Co-Editor of two of her sections' publications, The Will and the Way and North Carolina Estate Administration Manual, Supplemented Sixth Edition (2006/2008).
Linda is licensed to practice law in North Carolina, Hawaii and Connecticut. She earned her B.S. from Fairfield University and her J.D. from Quinnipiac College School of Law.
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C. Barton "Bart" Landess is the executive director of Catawba Lands Conservancy in Charlotte. Bart brings nearly 30 years of fundraising and nonprofit experience to the Conservancy and the Thread Trail. He came from the YMCA of Greater Charlotte where he served for eight years as Vice President of Major and Planned Gifts.
Prior to this, Bart worked at the Foundation For The Carolinas in development and planned giving. He is a graduate of Davidson College, where he also worked as Assistant Vice President of Major and Planned Gifts, then General Counsel and the President's Executive Assistant. Prior to that he practiced law at Smith Helms Mulliss & Moore.
Bart received his law degree from the University of Virginia in Charlottesville and has always been a lover of the land.
Bart, his wife and his four children all enjoy the outdoors, especially skiing. Bart is former Chair of the North Carolina Planned Giving Council. He's also a founding member of the Institute of Philanthropy and Leadership Gift School and a former Board member of Legal Services of the Southern Piedmont (now Charlotte Center for Legal Advocacy) and former Deacon and member of the Session of First Presbyterian Church. He was part of the Charlotte Chapter of American Leadership Forum's Class V.
Kerri L.S. Mast is Senior Vice President, Senior Wealth Planner for the Southeast at Brown Brothers Harriman in Charlotte. Kerri has extensive experience advising business owners and families of generational wealth to help them achieve their goals relating to estate planning, philanthropy, business succession and tax minimization. She provides clients with the resources they need to navigate transitions successfully and to help families thrive. As a national leader of the Philanthropic Advisory practice, Kerri works to create an environment where families can engage in conversations about wealth, values, legacy and impact.
Prior to joining the firm in 2010, Kerri worked at Foundation For The Carolinas, where she advised donors and their professional advisors on issues relating to charitable giving and nonprofit governance. Prior to that, Kerri practiced law at Moore & Van Allen PLLC, where she advised families of substantial wealth on estate and tax planning matters.
Kerri is a Fellow of the American College of Trust and Estate Counsel. She serves on several boards and committees, including The Nature Conservancy (North Carolina Chapter) Board of Trustees (chair), Queens University Planned Giving Advisory Council (chair), Atrium Health Planned Giving Advisory Council and Women's Impact Fund Environment Grants Committee.
Kerri received her B.A. degree, cum laude, from Wake Forest University and her J.D. degree, with honors, from Emory University School of Law.
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Sandi O. Thorman is the leader of GreerWalker LLP's Estate, Gift and Trust Practice and also the Professional and Financial Services Practice in Charlotte.
Sandi has more than 20 years of tax and business advisory experience with a strong focus on the professional and financial services industry which includes attorneys, architects, engineers, investment advisors, private equity funds, mortgage bankers, investment banking firms, broker dealers, and insurance companies.
Sandi assists closely held companies and their owners with tax planning and compliance needs. She has significant expertise in entity selection, entity structure, ownership changes, mergers and acquisitions, succession planning, and estate planning.
Prior to joining GreerWalker LLP in 2000, Sandi worked at KPMG in Cincinnati, Ohio.
Sandi is a member of the Charlotte Estate Planning Council, AICPA Tax Executive Committee, AICPA National Tax and Sophisticated Tax Conference Committee, American Institute of Certified Public Accountants, and the North Carolina Association of Certified Public Accountants.
Sandi earned her B.S. in Accounting from Indiana University.
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Sara Page H. Waugh is an associate on the Wealth and Estate Planning team at Moore & Van Allen PLLC in Charlotte. As a member of the North Carolina and Florida state bars, Sara Page advises clients with respect to their tax and estate planning needs, including the succession of management and ownership of closely held business interests. Sara Page also works to achieve her clients' charitable goals. Her practice includes the formation of non-profit corporations and private foundations, the application for tax-exempt status, and advice and counsel regarding ongoing compliance with state and federal requirements for tax-exempt organizations.
Sara Page has been recognized as part of the Business North Carolina's Legal Elite in Tax and Estate Planning (2021) and serves as the co-Chair of the Communications Committee of the Estate Planning and Fiduciary Law Section of the North Carolina State Bar.
Sara Page earned her B.S., with honors, from Davidson College and her J.D. from the University of Virginia School of Law.
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