THURSDAY, JULY 20, 2023
8:00 Welcome and Introductions
8:15 Recent Developments
S. Kyle Agee, Johnston Allison & Hord PA, Charlotte
Stacy M. Reid Monroe, Johnston Allison & Hord PA, Charlotte
N. Lucille "Lucy" Siler, 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
10:00 State Legislative Updates: What You Need to Know for 2023 and Beyond
Judith U. "Judy" Linville, Linville Law Office PLLC, Charlotte
Catherine L. Wilson, McPherson Rocamora Nicholson Wilson & Hinkle PLLC, Durham
Hear an overview of recently enacted North Carolina statutory provisions.
11:30 Estate Planning for the Middle Wealthy
Keynote Speaker: Robert K. "Bob" Kirkland, Kirkland Woods & Martinsen LLP, Liberty, MO
Planning for clients who are too wealthy to keep everything, and not wealthy enough to transfer enough to make a difference, remains an estate planning challenge. These clients typically lack family offices that can help implement and oversee our most complex planning, yet on many occasions, it is some of that planning that the client needs. And, of course, these "middle-rich" clients need everything else too — charitable planning, asset protection, retirement asset planning, preserving the family farm and vacation cabin, and so on. This presentation discusses implementable and interesting ideas for the middle rich.
Sponsored by Morehead Group
12:45 CLE Adjourn for the Day
FRIDAY, JULY 21, 2023
8:10 Introductions and Announcements
8:15 The Evolution of the SECURE Act: Proposed Regulations and SECURE 2.0
Christina G. Hinkle, McPherson Rocamora Nicholson Wilson & Hinkle PLLC, Durham
In late 2019, the SECURE Act drastically altered the required minimum distribution rules for retirement accounts. In 2022, the IRS issued proposed Regulations, and SECURE 2.0 was enacted into law. We discuss how the 2022 developments clarified and changed the required minimum distribution rules, particularly as they impact beneficiaries of retirement accounts.
Sponsored by Rockefeller Global Family Office
9:30 Spousal Rights in Estate Administration
M. Kemp Mosley, Narron Wenzel PA, Raleigh
We address estate planning concerns for second and successive marriages, specifically those arising from the statutory rights of surviving spouses. Hear planning tips for discouraging or avoiding controversies upon the death of one spouse. Additionally, the presenter reviews concerns related to the elective share, spousal year's allowance, elective life estate, separation agreements from prior marriages, and antenuptial and postnuptial agreements.
10:45 Business Succession Planning
Featured Speaker: Joshua E. "Josh" Husbands, Holland & Knight, Portland, OR
The regulatory environment and taxation of private companies is an ever-changing landscape, but the humans who own them are driven by the same desires. How different generations within the life cycle of a business express and achieve these goals may be quite different, though they face the same issues. We discuss the human elements behind succession of a business and current strategies for legally and tax-efficient options to achieve the client's goals.
Sponsored by Brown Brothers Harriman
12:00 CLE Adjourn for the Day
SATURDAY, JULY 22, 2023
8:10 Introductions and Announcements
8:15 Asset Protection Using Tenancy by the Entirety Ownership and Pitfalls of Arbitration Provisions
John N. Hutson Jr., Young Moore & Henderson PA, Raleigh
Tenancy by the entirety is a vehicle of property ownership for couples that provides a right of survivorship for the survivor. It traditionally has been applied to only married couples; however, it is available in a few states to couples who are not married. The estate traces its history back to the common law of England and is described in William Blackstone's Commentaries of 1783. This presentation briefly summarizes the history of the estate and its development in North Carolina but then focuses on how the estate can be used as an asset protection device in North Carolina and in other states. Included are explanations of why clauses requiring arbitration and/or mediation should not be included in trust instruments.
9:45 LLCs in Estate Planning, Including FinCEN Rules
Elizabeth K. "Liz" Arias, Womble Bond Dickinson (US) LLP, Raleigh
LLCs are widely used by estate planning attorneys for asset management, gifting and other purposes that are crucial to the success of our client families. Receive an overview of the new FinCEN reporting requirements that will be effective in 2024 and how those requirements may impact estate planning attorneys and their clients. Further, we discuss suggested provisions in LLC operating agreements that are helpful from the perspective of estate planning, lifetime gifting and business succession planning for clients that are often overlooked by individuals who do not regularly address these matters in their practice.
11:00 An Inside Look at Cybersecurity and How You Can Protect Yourself‡
Ileana van der Linde, JP Morgan Chase & Company, New York, NY
Cybercrime and fraud have become headline news and cost consumers and private industries billions of dollars every year. This conversation focuses on cybersecurity, fraud trends and best practices that can be put in place to help you better protect yourself, your family and your business.
‡ Indicates portion providing Technology Training credit
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