THURSDAY, JULY 21, 2022
8:00 Welcome and Introductions
8:15 Federal and State Update
S. Kyle Agee, Johnston Allison & Hord PA, Charlotte
Kimberly J. "Kim" Kirk, Johnston Allison & Hord PA, Charlotte
Lauren S. Martin, Johnston Allison & Hord PA, Charlotte
Review recent federal statutory developments and cases involving trust, estate, gift and income tax matters and North Carolina case law.
Sponsored by Brown Advisory
9:45 Break
Sponsored by Argent Trust Company, Hutchinson Family Offices and PNC Wealth Management
10:00 Legislative Update
Judith U. "Judy" Linville, Linville Law Office PLLC, Charlotte
Catherine L. Wilson, McPherson Rocamora Nicholson Wilson & Hinkle PLLC, Durham
This session provides an overview of recently enacted North Carolina statutory provisions.
10:45 Break
11:15 Cross-Border Conundrums: Identifying and Handling International Issues in Our Daily Practice
Danielle M. Burness, McGuireWoods LLP, Raleigh
Now more than ever, international estate planning issues can affect our North Carolina clients. This session provides an overview of international estate planning concepts and discusses ways to identify and avoid common tax traps.
12:15 Adjourn for the day
FRIDAY, JULY 22, 2022
8:10 Introductions and Announcements
8:15 Survey of Directed Trusts in the Carolinas
F. Patricia "Patty" Scarborough, Evans Carter Kunes & Bennett PA, Charleston, SC
Brett D. Sovine, Brown Brothers Harriman & Company, Charlotte
Speakers review statutory construction and case law governing directed trusts in the Carolinas and compare local practice against statutory framework and significant case law in Delaware.
9:15 Break
Sponsored by Beacon Pointe, NCF Carolinas and South Park Advisors LLC
9:30 All Things "E" (Electronic)‡
Mark J. Hale Jr., Baddour Parker Hine & Hale PC, Goldsboro
Linda Funke Johnson, Senter Stephenson & Johnson, Fuquay-Varina
Receive an update and breakdown of estate planning laws that utilize an electronic component, focusing primarily on the topic of electronic wills (e-wills). We examine the history of e-wills, any uniformity in nationwide e-wills legislation, and the current state of NC efforts to draft an e-wills law. Additionally, this session covers e-filing and its impact on NC procedures this year. Finally, the speaker highlights parts of both the Uniform Electronic Transactions Act (UETA) and the Uniform Law Commission (ULC) and their applications to e-documents for estate planning.
10:30 Break
10:45 Tax Controversy
David D. Aughtry, Chamberlain Hrdlicka White Williams & Aughtry, Atlanta, GA
12:00 Adjourn for the Day
SATURDAY, JULY 23, 2022
8:10 Introductions and Announcements
8:15 What the Cool Kids Are Doing in Estate Planning
Samuel A. Donaldson, Georgia State University College of Law, Atlanta, GA
In light of recent developments, some estate planning strategies have become especially popular. In this session, keynote speaker Sam Donaldson explains and evaluates several "hot" planning ideas, including spousal lifetime access trusts, charitable remainder trusts as beneficiaries of retirement accounts, ultra-long-term grantor retained annuity trusts (GRATs), and incomplete gift nongrantor trusts.
Keynote sponsored by Morehead Group
9:30 Break
Sponsored by Bessemer Trust, Old North State Trust LLC and Trust Company of the South
9:45 Reverse Engineering Estate Planning for Good
Raymond C. Odom, Northern Trust Corporation, Chicago, IL
The qualitative aspect of grantor intention is very difficult to reflect in trust language or will provisions. This complexity of human intentions and relationships should cause us to constantly and comprehensively rethink the way we frame wealth transfer communications. This session suggests that embedded in donative transfer terminology is a transformational goal for estate planning that can change our counsel, our colleagues and our clients.
10:45 Break
11:00 Hindsight Is Everything: A Discussion of Notable (or at Least Interesting) Recent Fiduciary Litigation Cases in 2021
Keri D. Brown, Baker Botts, Houston, TX
Join featured speaker Keri Brown as she reviews 2021 fiduciary litigation cases from across the United States — covering fiduciary liability, public policy, attorney liability, charitable trusts, no-contest provisions, settlements and releases, powers of appointment, attorney-client privilege, and the fiduciary exception — and highlights from the U.S. Tax Court, as well as the implications of these cases for planning.
Sponsored by Brown Brothers Harriman & Company
12:15 Adjourn
‡ Indicates portion providing Technology Training credit
Thank you for joining us for Day 2 of 43rd Annual Estate Planning & Fiduciary Law Program. We'll see you tomorrow.
Designed to benefit both new and experienced lawyers alike, the 43rd Annual Estate Planning & Fiduciary Law Program offers practical tips and insight to help you navigate challenges and opportunities in the current environment.
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.
Click here for more information about Kyle.
David D. Aughtry is a shareholder with Chamberlain Hrdlicka White Williams & Aughtry in Atlanta, GA. His practice focuses on civil and criminal tax litigation.
Upon graduation from law School, David joined the Internal Revenue Service as a Trial Attorney, Office of the Chief Counsel, where he also served as a Tax Shelter Coordinator. He taught Tax Controversy as an Adjunct Professor in the Emory University Masters in Taxation Program and in the Emory School of Law. David also served as an Instructor for the National Institute of Trial Advocates (NITA) in its program on "Litigating before the United States Tax Court" and was recently selected as a fellow of the International Society of Barristers. He is recognized as a national authority in tax litigation in Chambers USA and the US Legal 500 Litigation Guide.
David has tried (and/or argued on appeal) over 70 cases and successfully argued Hubert v. Commissioner before the Tax Court, the Eleventh Circuit, and the United States Supreme Court. Among the public company matters, David successfully tried Santa Fe Pacific Gold Co. v. Commissioner (termination or breakup fee in hostile takeover held to be deductible, with Indopco distinguished) and Plains Petroleum Co. v. Commissioner (Section 269 tax avoidance held factually inapplicable to the acquisition of a subsidiary with an $85 mil. NOL) to a final opinion.
Within the last several years, David won Topping v. Commissioner, (the first successful case recognizing horses as a deductible business development tool), Vines v. Commissioner ($13 million case in which the Tax Court held the IRS improperly denied the taxpayer 9100 Relief), and Caracci v. Commissioner (another case of first impression in which the Fifth Circuit reversed the Tax Court and rejected the last of $389 million in intermediate sanctions, taxes, and interest). Topping reaches the opposite result as Boddy v. Commissioner (Arabian horse hobby loss) which David won when he was trying cases for the government.
David graduated from The Citadel with a B.A. in English, from the University of South Carolina with a Master's in Accounting and a law degree. He graduated from Emory University with a Masters in Taxation (LL.M.).
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Keri D. Brown is a partner at Baker Botts in Houston, TX. She serves as a trusted advisor to some of the nation's most prominent individuals on complex federal estate, gift and income tax litigation and controversy matters, including disputes and litigation with the Department of Justice and the Internal Revenue Service. She counsels high net worth individuals and families in a variety of courts, including in the United States Tax Court, United States District Courts, and United States Courts of Appeals. She also represents taxpayers in federal tax audits and administrative appeals and represents fiduciaries and beneficiaries of trusts and estates in state courts with respect to administration and fiduciary duty issues. Published cases in which Keri served as one of the taxpayer's counsel include Estate of Murphy, Steinberg, Estate of Petter, Hendrix, and Estate of Christiansen. In addition to her tax and fiduciary practice, Keri serves as the global partner-in-charge of Corporate Social Responsibility at Baker Botts.
Keri is Chambers-ranked, an ACTEC Fellow, and is board certified in Estate Planning and Probate Law by the Texas Board of Legal Specialization. She is a former chair of the ABA's RPTE Income and Transfer Tax Planning Group. She is the 2022 recipient of the Texas Bar Foundation's Terry Lee Grantham Memorial Award, recognizing her pro bono service. She was recognized as a "Woman Who Means Business" in 2021 and a "40 Under 40" in 2018 by the Houston Business Journal for her significant business accomplishments, as well as her commitment to community service, received a resolution in her honor from the State Bar of Texas in 2020, and was named the State Bar of Texas's Pro Bono Coordinator of the Year in 2018.
Keri earned her B.A. in Speech Communication from Texas A&M University and her J.D., summa cum laude, from South Texas College of Law.
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Danielle W. "Dani" Burness is an associate at McGuireWoods LLP in Raleigh. She advises individuals and families on the preservation, transfer and management of wealth, charitable giving and business succession planning. Dani also focuses on tax-exempt organizations, cross-border asset protection, tax compliance and reporting matters.
Dani serves as a trusted advisor to ultra-high-net worth families, family offices and closely held businesses. For her individual and family clients, Dani’s practice often involves complex income tax planning, estate administration, estate, gift and generation-skipping transfer tax issues and representing taxpayers before the Internal Revenue Service.
Dani regularly advises public charities and private foundations in various governance, endowment, investment, tax and compliance matters. She also advises fiduciaries regarding the administration of complex estates and trusts.
Dani earned her B.A., magna cum laude, in Religious Studies and Spanish from Washington University in St. Louis, her J.D. from The George Washington University Law School and her LL.M. in Taxation from New York University School of Law.
Click here for more information about Dani.
Sandra M. "Sandy" Clark is a partner with Manning Fulton & Skinner PA in Raleigh. She represents individuals and fiduciaries regarding strategies for estate planning, trust planning, special needs trusts, and administrative matters. Sandy also has a broad range of experience with closely-held businesses for business matters including mergers and acquisitions.
Sandy has a diversified tax practice advising clients on a wide range of business, estate and gift tax planning matters, family trust planning and works on the settlement of large and complex estates. Representing individuals, businesses, and charitable organizations, she helps clients plan for the orderly and tax-saving transfer of wealth, keeping current on the constantly changing federal and state tax laws.
Sandy represents numerous privately held corporations and partnerships. She has extensive experience in corporate and business transactional matters and routinely provides counsel regarding business plans, mergers and acquisitions, reorganizations, tax accounting issues, and a broad range of tax planning strategies. Her franchise expertise ranges from assisting franchisors in developing nationwide systems that comply with state and federal franchise laws to the clients' marketing and distribution arrangements.
Sandy was the Chair of the North Carolina Bar Association, Estate Planning & Fiduciary Law Section and is a Fellow with the American College of Trust and Estate Counsel. She is a Certified Public Accountant, a Board Certified Specialist in Estate Planning and Probate and a fellow of the American College of Trust and Estate Counsel (ACTEC).
Sandy graduated with honors from Campbell University Law School and also received her undergraduate B.B.A. degree with honors from Campbell University.
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Samuel A. Donaldson is a Professor of Law at Georgia State University in Atlanta. Prior to joining the Georgia State faculty in 2012, he was on the faculty at the University of Washington School of Law in Seattle for 13 years. During his tenure at the University of Washington, he was a five-time recipient of the Philip A. Trautman Professor of the Year award from the School of Law's Student Bar Association. Professor Donaldson served for two years as Associate Dean for Academic Administration and for six years as the Director of the law school's Graduate Program in Taxation. He teaches a number of tax and estate planning courses, as well as courses in the areas of property, commercial law, and professional responsibility.
In addition to Georgia State and the University of Washington, Professor Donaldson has taught law school classes at Northwestern University, the University of Florida, and Emory University. He is an Academic Fellow of the American College of Trust and Estate Counsel (ACTEC) and a member of the Bar in Washington, Oregon, and Arizona. Among his scholarly works, Professor Donaldson is a co-author of the popular West casebook, Federal Income Tax: A Contemporary Approach, and a co-author of the Price on Contemporary Estate Planning reference volume published by Wolters Kluwer.
Professor Donaldson earned his B.A., with highest honors, from Oregon State University, his J.D., magna cum laude, from University of Arizona College of Law and his LL.M., in Taxation from University of Florida College of Law.
An amateur crossword constructor, Professor Donaldson's puzzles have been published in The New York Times, The Los Angeles Times, The Washington Post, The Wall Street Journal, and other outlets. A perennial contender for People Magazine's "Sexiest Man Alive" honor, he was recently notified by email of his selection to receive substantial sums of money from high-level Nigerian business officials in exchange for his bank account information.
Click here for more information about Professor Donaldson.
Mark J. Hale Jr. is a member of Baddour Parker Hine & Hale PC in Goldsboro. He concentrates his practice in estate planning and probate, wills and trusts, guardianships, corporate and business matters and taxation. He is the Wayne County Public Administrator and Public Guardian. He is a Board-Certified Specialist in Estate Planning and Probate Law.
Mark is currently a member of the North Carolina Bar Association's Estate Planning and Fiduciary Law section. Other NCBA activities include previously serving as the Editor of the Will and the Way and Chair of the Newsletter Committee, current Chair of the Task Force with NC Clerks of Court, and a member of legislative committee where he is currently Co-Chair of the electronic wills subcommittee.
Mark graduated from North Carolina State University with a B.A. in Chemistry. He earned his J.D. from Campbell University School of Law. Following law school, Mark spent a year in Miami, FL, where he earned his LL.M. in Taxation from the University of Miami 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.
Click here for more information about Linda.
Kimberly J. "Kim" Kirk is a partner in the litigation group at Johnston Allison & Hord PA in Charlotte. She concentrates her practice on complex commercial and fiduciary disputes, often representing high net worth individuals, national nonprofits, trustees, executors, and expectant beneficiaries. Kim regularly handles cases involving will contests, elective share claims, fiduciary liability, power-of-attorney abuse, and contested trust modifications. In addition to fiduciary and probate litigation, Kim also represents clients in a variety of complex commercial disputes. These include multi-party construction defect cases and post-employment restrictive covenant disputes.
Kim is a member of the Litigation Section and a council member for the Estate Planning & Fiduciary Law Section of the North Carolina Bar Association. She is currently Co-Chair of the Fiduciary Litigation Committee and is a co-author of the "Tortious Interference with Inheritance" chapter of the North Carolina Fiduciary Litigation Manual.
Kim received her B.A. from the University of Michigan and her J.D. from the University of North Carolina at Chapel Hill School of Law.
Click here for more information about Kim.
Judith U. "Judy" Linville is the founder of Linville Law Office PLLC in Charlotte. She believes the practice of law is about helping clients finding solutions to their legal problems and planning for their future needs. She brings over 20 years of experience in estate planning, tax, elder law, trust and estate administration, guardianship and general business law. She founded a firm that strives to provide exceptional service to its clients by working closely with individuals and their families to create comprehensive and customized estate plans. The firm also welcomes and encourages a team approach in their representations that often involves working with the client's financial, tax and other professional advisors.
Judy is a member of the North Carolina Bar Association, Mecklenburg County Bar Association, WealthCounsel, ElderCounsel, and the National Academy of Elder Law Attorneys. She is currently serving on the Legislative Committee for the North Carolina Estate Planning and Fiduciary Section of the North Carolina Bar Association.
Judy earned her B.S. in Accounting and Business/Management from the Kegan Flagler School of Business at the University of North Carolina at Chapel Hill and her J.D. from the University of North Carolina School of Law.
Click here for more information about Judy.
Lauren S. Martin is an attorney at Johnston Allison & Hord PA in Charlotte. She practices primarily in the areas of fiduciary litigation, estate planning, and estate administration.
Having previously served as a law clerk to judges on both of North Carolina's appellate courts, Lauren brings a unique perspective and experienced-based insight to her litigation practice. She routinely represents fiduciaries and beneficiaries in actions aimed at preserving the testator's or grantor's true wishes. Whether assisting her clients with a will contest, negotiating the resolution of an estate-related dispute, or advocating for a surviving spouse's right to an elective share, Lauren never loses sight of the fact that her clients are frequently mourning the loss of a loved one or losing sleep over the matter with which she is assisting them.
In addition to her fiduciary litigation practice, Lauren helps her clients implement estate plans that achieve the client's personal objectives. Specifically, her practice includes the negotiation of premarital agreements and the preparation of wills, trust agreements, powers of attorney, and healthcare documents to help her clients plan for the future. She also assists her clients with the proper administration of trusts and estates and, when the situation calls for it, she is equipped to facilitate the judicial or nonjudicial modification of irrevocable trusts to address the changing needs of the trust's grantor and beneficiaries.
Lauren is a member of the North Carolina Bar Association and the Mecklenburg County Bar.
Lauren earned her B.A., with distinction, in History, with a concentration in US history and a minor in religious studies, from University of North Carolina at Chapel Hill and her J.D., with honors, from Campbell University, Norman Adrian Wiggins School of Law.
Click here for more information about Lauren.
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.
Click here for more information about Kerri.
Raymond C. "Ray" Odom is the Senior Vice President - Director of Wealth Transfer Strategies at Northern Trust Company in Chicago, IL. Ray serves as a national subject matter specialist in wealth transfer planning and fiduciary product solutions. Ray works with regional wealth advisory teams and wealth strategists to provide valuable planning ideas to clients, prospects and their advisers. He is an acclaimed noted speaker on wealth planning and asset protection topics.
Prior to his current role, Ray served in the dual capacity of Trust Administrator and Wealth Strategist, where he was responsible for the administration of large, complex trusts for individuals and families. His duties often involved working with sophisticated estate plans, sensitive family situations, and complex property transfers.
Ray began his career with Northern Trust in June, 1980. Ray worked as tax counsel with special expertise in tax exempt organizations, fiduciary income tax, and estate/gift tax before leaving for private law practice in 1990.
From 1990-1994, Ray was a partner in the Chicago law firm of Hoogendoorn & Talbot Davids Godfrey & Milligan where he assisted high net worth clients with business succession planning, the drafting of trust and wills, charitable gift planning, trust litigation, corporate transactions, and probate practice during his time in private law practice.
Prior to rejoining Northern Trust in December of 2000 Ray was a Vice President with NBD Bank (n/k/a J P Morgan Chase) where he served as a Relationship Manager trust officer and as local trust counsel.
Ray has a B.A. from Valparaiso University and a J.D. from The Ohio State University Moritz College of Law. He has previously served as a series 7 registered representative holding a series 7 and 66 license and is currently also an attorney licensed to practice law in Illinois and before the U.S. Tax Court. In addition, Ray is a Certified Financial Planner(registered trademark) (CFP) and formerly taught as an adjunct professor in the MBA program of Benedictine University.
Click here for more information about Ray.
F. Patricia "Patty" Scarborough is an attorney at Evans Carter Kunes & Bennett PA in Charleston, SC. He practice areas include: business transactions, charitable giving, estate administration, estate planning, income taxation, non-profit organizations and taxation law.
Patty is a Fellow of the American College of Trust and Estate Counsel. Patty is licensed to practice in both South Carolina and North Carolina. She is also a Certified Specialist in Taxation Law and Estate Planning and Probate Law by the Supreme Court of South Carolina. Patty is licensed to practice in both South Carolina and North Carolina.
Patty earned her B.S., cum laude, from University of South Carolina, her J.D., cum laude, from University of South Carolina School of Law and her LL.M. in Taxation, magna cum laude, from University of Florida School of Law.
Click here for more information about Patty.
Brett D. Sovine is Managing Director at Brown Brothers Harriman & Company in Charlotte. He primarily assists the Center for Family Business in counseling families on a number of business ownership matters, including governance, succession planning, capital policies, and shareholder oversight and family communication. He also serves as chairman of the board of directors for the firm's two domestic national trust companies.
Brett is a Fellow in the American College of Trust and Estate Counsel. He received his B.S. from West Virginia University, J.D. from Wake Forest University School of Law and LL.M. in taxation from Georgetown University Law Center.
Click here for more information about Brett.
Catherine L. Wilson is a Partner at McPherson Rocamora in Durham. Her practice focuses on special needs planning and trust and estate litigation.
In her special needs practice, Catherine advises persons with disabilities and their family members on estate planning, as well as the post-litigation establishment of trusts designed to receive personal injury awards. She routinely assists personal injury attorneys and their clients, advising on estate and tax considerations, as well as maintaining eligibility for government benefits.
In her litigation practice, Catherine represents both fiduciaries and beneficiaries of trusts and estates. She defends and prosecutes will caveats, trust contests, breach of fiduciary duty claims, and other probate matters. She routinely advises individual and corporate trustees on best administrative practices.
Catherine previously practiced with the Birmingham, Alabama law firm of Sirote & Permutt PC working exclusively in the areas of trusts and estates.
Catherine is a member of the American, Alabama, and Durham Bar Associations, and the North Carolina Bar Association (Estate Planning and Fiduciary Law Section). She is a Fellow of the American College of Trust and Estate Counsel (ACTEC) and an Associate Member of the Special Needs Alliance. She has been a North Carolina Board Certified Specialist in Estate Planning and Probate Law since 2016. She is the current Chair of the Legislative Committee of the NCBA's Estate Planning and Fiduciary Law Section. She is a past Director and Treasurer of the Sixteenth Judicial District Bar, the Durham County Bar Association, and the Durham Bar Foundation.
Catherine earned her B.A. in English, magna cum laude, from Lipscomb University, J.D. from Vanderbilt University Law School, and a Master of Theological Studies (M.T.S.) from Vanderbilt University Divinity School. While in law school, she was an Honors Scholar and served as Executive Articles Editor for the Vanderbilt Journal of Transnational Law.
Click here for more information about Catherine.
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