THURSDAY, NOVEMBER 2, 2023
8:00 Registration and Continental Breakfast
8:25 Welcome and Introductions
Mark J. Hale Jr., Baddour Parker Hine & Hale P.C., Goldsboro
Hear an overview on wills in North Carolina, including the capacity to create a will and requirements for execution.
9:40 North Carolina Uniform Trust Code
S. Kyle Agee, Johnston Allison & Hord PA, Charlotte
This session reviews the law on trusts in North Carolina, including the North Carolina Uniform Trust Code, and related concepts.
10:50 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.
11:50 Lunch Break
12:30 Transfer Taxes: Estate, Gift and Generation-Skipping Transfer
James C. "Jim" Purnell V, White & Allen, Kinston
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.
2:10 Gross Estate and Estate Valuation
Crissy R. Dixon, Craige Jenkins Liipfert & Walker LLP, Winston-Salem
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.
3:20 Partnerships, LLCs and Corporations
Elinor J. "Elie" Foy, Wyrick Robbins Yates & Ponton 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.
4:30 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.
5:30 Adjourn for the day
FRIDAY, NOVEMBER 3, 2023
8:00 Continental Breakfast
8:25 Announcements and Introductions
8:30 Charitable Giving
Douglas W. "Doug" Benson, Foundation for the Carolinas, Charlotte
Discuss charitable giving strategies and vehicles, as well as the related tax implications.
9:40 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.
10:50 The Intersection of Elder Law and Estate Planning
Aimee Smith, Craige Jenkins Liipfert & Walker LLP, Winston-Salem
Learn why traditional estate planning documents may not work as intended for your clients facing long-term care and what simple changes you can make to your documents to cover clients concerned about long-term care for themselves or their family members.
11:50 Lunch Break
12:30 The Intersection of Family Law and Estate Planning
Jessica B. Heffner, Wyrick Robbins Yates & Ponton LLP, Raleigh
Estate planning and family law can overlap in many situations since both practice areas involve spouses, money and death. Many myths and misconceptions surround the topic of separation and divorce, making the process even more difficult. This presentation covers 10 things estate planning lawyers should know about family law.
1:40 Retirement Benefits and Life Insurance
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. Additionally, this session provides a general overview of estate planning and business succession planning opportunities with life insurance, including practical drafting considerations and planning opportunities, such as traditional irrevocable life insurance trusts (ILITs) and buy-sell agreements.