THURSDAY, JULY 25, 2024
7:30 Registration and Continental Breakfast
Sponsored by Advocacy Trust, Barry Evans Josephs & Snipes, Beacon Pointe Advisors, Carolinas Advocacy Group LLC, DOYLE, Hutchison Family Offices and Pinnacle Financial Partners
8:00 Welcome and Introductions
8:05 Recent Developments
Paul M. Hattenhauer, Culp Elliott & Carpenter P.L.L.C., Charlotte
Kimberly J. "Kim" Kirk, Johnston Allison & Hord PA, Charlotte
William L. "Bill" Mills IV, Culp Elliott & Carpenter P.L.L.C., Charlotte
Corinne N. Spencer, Culp Elliott & Carpenter P.L.L.C., 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
9:35 Break
Sponsored by Bank OZK and Colony Family Offices and Trust Company
9:50 State Legislative Updates
Mark J. Hale, Baddour Parker Hine & Hale P.C., Goldsboro
Hear an overview of recently enacted North Carolina statutory provisions.
10:35 Estate Planning & Fiduciary Law Section Annual Meeting
Paula A. Kohut, Kohut Adams & Randall P.A., Wilmington, 2023-2024 Section Chair, presiding
10:45 Break
Sponsored by Boys Arnold Wealth Management and Commonwealth Community Trust
11:00 Older Clients With Diminishing Capacity and Elder Financial Abuse
Keynote Speaker: Mary F. Radford, Georgia State University College of Law, Atlanta, GA
The nest eggs of America's elders are in the crosshairs of scammers and fraudsters who target elders, particularly women, due to the frailties and vulnerabilities that often accompany aging. As estate planners, we all will be called upon to help address the issues of those individuals whose capacity is diminishing. This session helps estate planners to recognize the most common causes and signs of diminishing capacity and explores the ethical challenges that advisors and lawmakers face in protecting our vulnerable clients from exploitation without unnecessarily trampling on their rights to self-determination.
Sponsored by Morehead Group
12:15 Adjourn for the Day
12:30 New Estate Planning Attorney Welcome Lunch
12:30–2:00 PM | West Beach Conference Center, 2 Shipwatch Road, Kiawah Island
Attorneys attending the CLE who are attending this event for the first time, have three or fewer years in practice as an estate attorney, or are solo practitioners are invited to this special welcome lunch! During lunch, you'll have the opportunity to meet one another, as well as meet and talk with the Estate Planning & Fiduciary Law Council.
Please RSVP by Wednesday, July 17.
6:00 Networking Reception
Join your fellow Estate Planning section members at our section reception!
6:00–8:00 PM | Osprey Point Clubhouse,700 Governors Drive, Kiawah Island
Please RSVP by Wednesday, July 17.
FRIDAY, JULY 26, 2024
7:30 Continental Breakfast
Sponsored by American Cancer Society, Bernstein Private Wealth Management, D.A. Davidson Trust Company, InterActive Legal, Old North State Trust, South Park Advisors LLC and Townebank
8:00 Introductions and Announcements
8:05 The Business of Family
David R. York, York Howell & Guymon, Salt Lake City, UT
There are more than 5 million family businesses in the United States. As a general rule, family businesses outperform nonfamily businesses, are more values-driven, and tend to hold on to employees during difficult economic times. That said, family businesses also face unique and difficult challenges. This presentation focuses on how advisors can help family businesses successfully navigate the rough waters that exist at the confluence of business and family. It also discusses the six kinds of family businesses and the practical yet critical steps that should be taken if a family wants to continue a successful multi-generational business into the future.
Sponsored by Rockefeller Global Family Office
9:35 Break
Sponsored by DMJPS PLLC, Investors Trust Company and Steen Valuation Group
9:50 Update on Corporate Transparency Act and FinCEN Rules
Elizabeth K. "Liz" Arias, Womble Bond Dickinson (US) LLP, Raleigh
This session provides an update on the Corporate Transparency Act and the associated FinCEN reporting requirement that became effective January 1, 2024.
10:20 Break
Sponsored by Elliott Davis, Lawyers Mutual Liability Insurance Company of NC and Pendleton Square Trust Company, LLC
10:30 Not Your Grandfather's Private Foundation: Leveraging Foundation Resources Beyond Traditional Grantmaking
Featured Speaker: Michele A. W. McKinnon, McGuireWoods LLP, Richmond, VA
This session explores the many ways that a private foundation can engage in philanthropic endeavors and deploy its resources to have a meaningful impact beyond traditional grantmaking activities. Within the context of the federal tax rules that apply to private foundations, we address the use of investment strategies (including program-related and mission-related investments), the use of intellectual capital through advocacy and other endeavors, and the conduct of direct charitable activities by nonoperating private foundations as well as private operating foundations.
Sponsored by Brown Brothers Harriman
12:00 Adjourn for the Day
SATURDAY, JULY 27, 2024
7:30 Continental Breakfast
Sponsored by Argent Trust Company, Bank of America Private Bank, Empire Valuation Consultants, North Carolina Civil Collaborative Law Association, Southstate Bank N.A. and U.S. Bank Private Wealth Management
8:00 Introductions and Announcements
8:05 Business Appraisals 101: Handling Entity Valuations and Select Issues
Weston C. Kirk, Willamette Management Associates, Atlanta, GA
James W. Narron, Narron Wenzel P.A., Smithfield
During this session, the speakers discuss working with appraisers, what to look for and where to look for it, and appraisal disasters and success stories. The presentation explores how to work with the entity/business appraiser and steps throughout the appraisal process, providing practical guidance and understanding from both the lawyer’s side and the appraiser's side — from beginning to end.
9:35 Break
Sponsored by National Christian Foundation Carolinas and Trust Company of the South
9:45 How Collaborative Law Can Successfully Resolve Trust and Estate Disputes
Colleen L. Byers, Colleen Byers Mediation LLC, Winston-Salem
Thomas R. “Tom” Sparks, Fiduciary Litigation Group, Raleigh
A majority of trust and estate disputes involve inter-family conflict. A collaborative law approach has successfully resolved inter-family conflict in the context of divorce and child custody disputes. The same interest-based collaborative law approach to these family disputes is an excellent alternative to the necessarily divisive nature of a rights-based litigation approach. The NC Collaborative Law Act provides the framework for this structured settlement process, and it offers practitioners the flexibility to address the unique needs of each case. This presentation posits the use of a collaborative law-trained mediator and similarly trained attorneys to facilitate and implement a negotiated resolution without destroying important family relationships.
10:45 Break
Sponsored by North Carolina Community Foundation, Piedmont Trust, and WealthCounsel
11:00 What Lawyers Need to Know About Artificial Intelligence‡
Catherine Sanders Reach, North Carolina Bar Association, Cary
Artificial intelligence has been a very hot topic since ChatGPT became publicly available, followed by a swarm of AI-enabled products. Lawyers need to understand how generative artificial intelligence will impact their lives and practices, as well as their clients and their clients' lives and businesses. This session describes how the technology works in plain language, discusses ethical considerations, examines different products on the market, and explores positive and negative impacts of the exponential explosion of AI.
12:00 Adjourn
‡ Indicates portion providing Technology Training credit