ÿþ<title>The 36th Annual Probate & Trust Law Section Conference - Schedule and Faculty</title> <table border="0" width="100%" cellspacing="8" cellpadding="0" id="table1"> <tr> <td align="left" valign="top" colspan="2"> <p style="margin-top: 0; margin-bottom: 32px"> <font face="Arial" color="#CC6633" size="4"> Schedule and Faculty</font></p> <p style="margin-top: 0; margin-bottom: 3px"> <font face="Arial" style="font-size: 11pt; font-weight: 700">Day 1  Monday, June 7, 2010</font></p> <p style="margin-top: 0; margin-bottom: 3px">&nbsp;</p> <p style="margin-top: 0; margin-bottom: 3px"> <font face="Arial" size="2">7:45  8:25 a.m.</font></p> <blockquote> <p style="margin-top: 0; margin-bottom: 3px"> <font face="Arial" size="2">REGISTRATION &amp; CONTINENTAL BREAKFAST<br> <i>Sponsored by Northern Trust</i></font></p> </blockquote> <p style="margin-top: 0; margin-bottom: 3px"> <font face="Arial" size="2">8:25  8:30 a.m.</font></p> <blockquote> <p style="margin-top: 0; margin-bottom: 3px"> <font face="Arial" size="2">WELCOME &amp; INTRODUCTION</font></p> <p style="margin-top: 0; margin-bottom: 3px"> <i> <font face="Arial" size="2"> Robert A. McLeod, Probate &amp; Trust Law Section Chair</font></i></p> </blockquote> <p style="margin-top: 0; margin-bottom: 3px"> <font face="Arial" size="2">8:30  9:00 a.m.</font></p> <blockquote> <p style="margin-top: 0; margin-bottom: 3px"> <b> <font face="Arial" size="2">An Overview of Legislation Passed in the 2010 Session, and 2011 Legislative Projects and Proposals</font></b></p> <p style="margin-top: 0; margin-bottom: 3px"> <font face="Arial" size="2">New legislation impacting probate and trust attorneys; prospective legislation being drafted; overview of the drafting process; and Uniform Acts being studied. </font></p> <p style="margin-top: 0; margin-bottom: 3px"> <i> <font face="Arial" size="2"> Peter S. Hatinen &amp; Scott M. Nelson</font></i></p> </blockquote> <p style="margin-top: 0; margin-bottom: 3px"> <font face="Arial" size="2">9:00  10:00 a.m.</font></p> <blockquote> <p style="margin-top: 0; margin-bottom: 3px"> <b> <font face="Arial" size="2">A Guided Tour of the Uniform Power of Attorney Act</font></b></p> <p style="margin-top: 0; margin-bottom: 3px"> <font face="Arial" size="2">Many states are considering reform of their power of attorney statutes to deal with pressing policy issues related to the surrogate property management needs of incapacitated persons. These include the unreasonable refusal of third persons, such as banks, to accept valid powers of attorney, the increasing use of guardianship actions in family power struggles over vulnerable persons and their assets, and the growing concern that untrustworthy agents may use a power of attorney as a &quot;license to steal.&quot; An inherent tension exists in this law reform effort between the goal of preserving the power of attorney as a low-cost, flexible alternative to guardianship and that of providing adequate protection for incapacitated principals. The new Uniform Power of Attorney Act, approved by the Uniform Law Commission in 2006, embodies law reform strategies to address these competing issues. Professor Whitton, Reporter for the Act, will provide a guided tour of the Act and its implications for practitioners and their clients.</font></p> <p style="margin-top: 0; margin-bottom: 3px"> <i> <font face="Arial" size="2"> Linda S. Whitton</font></i></p> </blockquote> <p style="margin-top: 0; margin-bottom: 3px"> <font face="Arial" size="2">10:00  10:25 a.m. </font></p> <blockquote> <p style="margin-top: 0; margin-bottom: 3px"> <font face="Arial" size="2">BREAK</font></p> </blockquote> <p style="margin-top: 0; margin-bottom: 3px"> <font face="Arial" size="2">10:25  11:25 a.m.</font></p> <blockquote> <p style="margin-top: 0; margin-bottom: 3px"> <b> <font face="Arial" size="2">Fearless Public Speaking  Will Rogers Once Said That More Americans Die of Elocution Than Any Other Cause</font></b></p> <p style="margin-top: 0; margin-bottom: 3px"> <font face="Arial" size="2">You can decrease the death toll by: learning how to overcome fear; knowing your audience; adding spice to your message; and meaningful rehearsing. You ll learn: the seven secrets of successful public speaking; special delivery techniques; when and how to use humor; and how to handle questions. Effective public speaking enables you to &quot;make a difference.&quot; In short, you ll learn how to get on, get off and what to do in between.</font></p> <p style="margin-top: 0; margin-bottom: 3px"> <i> <font face="Arial" size="2"> Conrad Teitell</font></i></p> </blockquote> <p style="margin-top: 0; margin-bottom: 3px"> <font face="Arial" size="2">11:25  12:25 p.m.</font></p> <blockquote> <p style="margin-top: 0; margin-bottom: 3px"> <b> <font face="Arial" size="2">Fiduciary Duties and Regulatory Update</font></b></p> <p style="margin-top: 0; margin-bottom: 3px"> <font face="Arial" size="2">What is a fiduciary; obligations of a fiduciary in the context of (a) the standard of care associated with the management of assets and (b) the standard of care associated with the duty of loyalty (i.e., sole interest versus best interest); the evolution of the U.S. financial services industry (i.e., banks, broker-dealers, insurance companies, investment advisers losing their unique status); the attempt by Congress and the regulatory agencies to impose a fiduciary standard on broker-dealers and how fiduciary status can/should be managed in a regional and wirehouse broker-dealer; and the outcome of the legislative process relating to brokers as fiduciaries and how rules and regulations will be implemented.</font></p> <p style="margin-top: 0; margin-bottom: 3px"> <i> <font face="Arial" size="2"> Eugene F. Maloney</font></i></p> </blockquote> <p style="margin-top: 0; margin-bottom: 3px"> <font face="Arial" size="2">12:25  1:25 p.m.</font></p> <blockquote> <p style="margin-top: 0; margin-bottom: 3px"> <font face="Arial" size="2">INSTITUTE LUNCHEON<br> <i>Sponsored by First Lawyers Trust Company</i></font></p> </blockquote> <p style="margin-top: 0; margin-bottom: 3px"> <font face="Arial" size="2">1:25  2:25 p.m.</font></p> <blockquote> <p style="margin-top: 0; margin-bottom: 3px"> <b> <font face="Arial" size="2"><span style="background-color: #E1E1E1">&nbsp;BREAKOUT SESSION A </span></font></b></p> <p style="margin-top: 0; margin-bottom: 3px"> &nbsp;</p> <p style="margin-top: 0; margin-bottom: 3px"> <b> <font face="Arial" size="2">1. Charitable Life-Income Planning& Gathering Windfalls and Avoiding Pitfalls</font></b></p> <p style="margin-top: 0; margin-bottom: 3px"> <font face="Arial" size="2">Choosing wisely among charitable remainder unitrusts (four types), remainder annuity trusts, and gift annuities (immediate, deferred, flexible-starting date). Techniques for early termination of charitable remainder trusts to achieve maximum benefits and avoid the IRS s wrath; patching up defective remainder gifts  the ins and outs of the reformation and disclaimer rules; when the scrivener s error rule can come to the rescue; and importance of diversifying investments and properly administering CRTs.</font></p> <p style="margin-top: 0; margin-bottom: 3px"> <i> <font face="Arial" size="2"> Conrad Teitell</font></i></p> <p style="margin-top: 0; margin-bottom: 3px"> &nbsp;</p> <p style="margin-top: 0; margin-bottom: 3px"> <b> <font face="Arial" size="2">2. Powers of Attorneys  Tools for Empowerment or Exploitation of a Principle</font></b></p> <p style="margin-top: 0; margin-bottom: 3px"> <font face="Arial" size="2">This session will examine critical policy issues and practice strategies for effective and safe use of powers of attorney. The Uniform Power of Attorney Act will be used as the template for exploring how to maximize the self-determination benefits of a power of attorney while minimizing the risks of financial exploitation if the principal later becomes incapacitated. Participants will be guided through a drafting checklist that can be used to tailor a power of attorney to individual client needs. Hypothetical scenarios will illustrate how drafting strategies can facilitate the principal s property management goals while still safeguarding the principal s property and estate plan.</font></p> <p style="margin-top: 0; margin-bottom: 3px"> <i> <font face="Arial" size="2"> Linda S. Whitton</font></i></p> <p style="margin-top: 0; margin-bottom: 3px"> &nbsp;</p> <p style="margin-top: 0; margin-bottom: 3px"> <b> <font face="Arial" size="2">3. Interpreting and Applying the Final Regulations Under Section 2053  When is a Deduction Really a Deduction for Estate Tax Purposes?</font></b></p> <p style="margin-top: 0; margin-bottom: 3px"> <font face="Arial" size="2">Treasury recently issued final regulations under section 2053 which are effective as of October 20, 2009. These new regulations are intended to address the valuation of deductions for claims and administration expenses for estate tax purposes. The impact of post-death events, the use of estimated amounts, the involvement of qualified appraisers and the need for protective claims will be reviewed in the context of section 2043.</font></p> <p style="margin-top: 0; margin-bottom: 3px"> <i> <font face="Arial" size="2"> Dana M. Neu &amp; Matthew J. Shea</font></i></p> <p style="margin-top: 0; margin-bottom: 3px"> &nbsp;</p> <p style="margin-top: 0; margin-bottom: 3px"> <b> <font face="Arial" size="2">4. Estate and Gift Tax Examinations  A Focus on Procedures</font></b></p> <p style="margin-top: 0; margin-bottom: 3px"> <font face="Arial" size="2">Update on the IRS s current estate and gift tax program and a focus on new IRS procedures that have come out in the past year.</font></p> <p style="margin-top: 0; margin-bottom: 3px"> <i> <font face="Arial" size="2"> Elizabeth R. Miller</font></i></p> <p style="margin-top: 0; margin-bottom: 3px"> &nbsp;</p> <p style="margin-top: 0; margin-bottom: 3px"> <b> <font face="Arial" size="2">5. Court Administration Panel  Summaries, Descents and Other Probate Proceedings</font></b></p> <p style="margin-top: 0; margin-bottom: 3px"> <font face="Arial" size="2">Basic instruction of &quot;other&quot; types of probate proceedings, including Summary Administrations, Descent Proceedings, appointing Successor Personal Representatives, Foreign Personal Representatives acting as a Local Representative, and deposit of minors funds with the Court. Instruction as to when the different proceedings are used. Instruction as to what forms to use and the requirements of varying counties.</font></p> <p style="margin-top: 0; margin-bottom: 3px"> <i> <font face="Arial" size="2"> Judy A. Isaacson, Julie Peterson &amp; Peggy Zdon</font></i></p> <p style="margin-top: 0; margin-bottom: 3px"> &nbsp;</p> <p style="margin-top: 0; margin-bottom: 3px"> <b> <font face="Arial" size="2">6. Forensic Accounting</font></b></p> <p style="margin-top: 0; margin-bottom: 3px"> <font face="Arial" size="2">How is forensic accounting defined as promulgated by the American Institute of Public Accountants and how does it relate to the probate and trust arena.</font></p> <p style="margin-top: 0; margin-bottom: 3px"> <i> <font face="Arial" size="2"> Debra K. Thompson</font></i></p> <p style="margin-top: 0; margin-bottom: 3px"> &nbsp;</p> <p style="margin-top: 0; margin-bottom: 3px"> <b> <font face="Arial" size="2">7. Advising Clients and Fiduciaries With Significant IP and IT Interests</font></b></p> <p style="margin-top: 0; margin-bottom: 3px"> <font face="Arial" size="2">How to identify important digital property and Internet accounts; understanding key objectives to maximize IP value; essential diligence for intellectual property and technology assets; effect of federal and state IP laws for planning and administration; how to plan for access to digital property during incapacity or after death, including issues involved in transferring digital property; choosing the right fiduciary; planning opportunities for significant IP interests; gift and estate tax considerations; and post mortem exploitation of intellectual property rights. </font></p> <p style="margin-top: 0; margin-bottom: 3px"> <i> <font face="Arial" size="2"> James D. Lamm &amp; John W. Provo</font></i></p> <p style="margin-top: 0; margin-bottom: 3px"> &nbsp;</p> <p style="margin-top: 0; margin-bottom: 3px"> <b> <font face="Arial" size="2">8. Roth IRA Conversions</font></b></p> <p style="margin-top: 0; margin-bottom: 3px"> <font face="Arial" size="2">An overview of the legal changes providing this tax planning opportunity; a review of case studies; with examples of typical estate planning clients. </font></p> <p style="margin-top: 0; margin-bottom: 3px"> <i> <font face="Arial" size="2"> Theresa E. Corona &amp; Keith N. Tufte</font></i></p> <p style="margin-top: 0; margin-bottom: 3px"> &nbsp;</p> <p style="margin-top: 0; margin-bottom: 3px"> <b><font face="Arial" size="2">9. How to Develop an Ownership Transition Plan  A Live Case Study</font></b></p> <p style="margin-top: 0; margin-bottom: 3px"> <font face="Arial" size="2">A virtual discussion with a Business Owner to discuss: selling objectives of the Owner, operational considerations of the Company, and financial considerations of the Company. Issues addressed will include: managing potentially conflicting stakeholder goals, business continuity, increased family ownership, incenting management to stay in the event of an estate planning trigger event and how to balance personal goals with unbiased financial analysis.</font></p> <p style="margin-top: 0; margin-bottom: 3px"> <i> <font face="Arial" size="2"> Paul J. Halverson</font></i></p> </blockquote> <p style="margin-top: 0; margin-bottom: 3px"> <font face="Arial" size="2">2:25  2:40 p.m.</font></p> <blockquote> <p style="margin-top: 0; margin-bottom: 3px"> <font face="Arial" size="2">BREAK</font></p> </blockquote> <p style="margin-top: 0; margin-bottom: 3px"> <font face="Arial" size="2">2:40  3:40 p.m.</font></p> <blockquote> <p style="margin-top: 0; margin-bottom: 3px"> <b> <font face="Arial" size="2"><span style="background-color: #E1E1E1">&nbsp;BREAKOUT SESSION B </span></font></b></p> <p style="margin-top: 0; margin-bottom: 3px"> &nbsp;</p> <p style="margin-top: 0; margin-bottom: 3px"> <b><font face="Arial" size="2">10. Small Estate Panel</font></b></p> <p style="margin-top: 0; margin-bottom: 3px"> <font face="Arial" size="2">Fiduciary selection in light of recent cases involving elder abuse/breach of fiduciary duty; guarding against selecting individual trustees who may be under financial duress due to loss of job/economic downturn appropriate discretion when dealing with beneficiaries under financial duress. Increased bonding with the decline in markets. Duties under prudent investor rule and general fiduciary duties. Leveraging diminished asset base by taking advantage of multi-generational IRA (conduit trusts). Increased use of spendthrift trusts to protect beneficiaries at risk in down economy (drafting appropriate discretionary trust provisions.) Maintaining flexibility in plan to account for future asset appreciation and/or change in tax laws. The increased use of disclaimers and decreased use of marital-family/credit-shelter plans. Using and coordinating non-probate transfer devices; esp. TODD. Client reluctance to make big financial commitment to estate plan (negative wealth effect). </font></p> <p style="margin-top: 0; margin-bottom: 3px"> <i> <font face="Arial" size="2"> James T. McNary &amp; Tricia A. Vicario<br>  Susan T. Peterson, moderator</font></i></p> <p style="margin-top: 0; margin-bottom: 3px"> &nbsp;</p> <p style="margin-top: 0; margin-bottom: 3px"> <b> <font face="Arial" size="2">11. Incentive and Disincentive Trust Provisions  Hands Reaching Out (of the Grave?) to Beneficiaries in Need?</font></b></p> <p style="margin-top: 0; margin-bottom: 3px"> <font face="Arial" size="2">General settlor planning considerations; specific beneficiary issues; types of trusts; trustee considerations; and review of sample provisions.</font></p> <p style="margin-top: 0; margin-bottom: 3px"> <i> <font face="Arial" size="2"> P. Daniel Donohue</font></i></p> <p style="margin-top: 0; margin-bottom: 3px"> &nbsp;</p> <p style="margin-top: 0; margin-bottom: 3px"> <b> <font face="Arial" size="2">12. Preparing Annual Accounts: The Good, the Bad and the Ugly of Probate, Trust and Conservatorship Annual Accounts</font></b></p> <p style="margin-top: 0; margin-bottom: 3px"> <font face="Arial" size="2">A review of the basic requirements for preparing annual accounts including tips and traps when completing an account and trying to get it to balance. Which form is used for a particular matter, probate, trust or conservatorship; why the form is arranged like it is, and how does it work; supporting detail, what is needed and what is not; supporting detail, what is needed and what is not; tips to make accounts balance; and applicable court rules and statutes.</font></p> <p style="margin-top: 0; margin-bottom: 3px"> <i> <font face="Arial" size="2"> Robert A. McLeod</font></i></p> <p style="margin-top: 0; margin-bottom: 3px"> &nbsp;</p> <p style="margin-top: 0; margin-bottom: 3px"> <b> <font face="Arial" size="2">13. Bonds and the Application Process</font></b></p> <p style="margin-top: 0; margin-bottom: 3px"> <i> <font face="Arial" size="2"> Ric Davies</font></i></p> <p style="margin-top: 0; margin-bottom: 3px"> &nbsp;</p> <p style="margin-top: 0; margin-bottom: 3px"> <font face="Arial" size="2"><b>14. For the Charitable Alliterate  A Plentiful Potpourri of Planned Giving Principles, Practices, Pitfalls and Problems and Proposed Solutions for the Perplexed Planner</b></font></p> <p style="margin-top: 0; margin-bottom: 3px"> <font face="Arial" size="2">Americans contribute almost $300,000,000,000 to charity  each year, a substantial majority coming from individuals. Congress has provided tax incentives (income, estate, and gift tax) to both individuals and businesses to encourage contributions to &quot;qualified&quot; charitable organizations. While most professionals know about these incentives (deductions and tax free or tax deferred income), the specific requirements and the opportunities as well as traps they present are complex and obscure, confusing, frequently changing and unforgiving. This presentation will provide a comprehensive overview of the areas of most concern to financial services professionals with the 10 most common mistakes made in incorporating charitable planning into a client s comprehensive financial plan. The written materials will include an analysis of all tax and financial aspects of charitable giving, including the most recent legislative and administrative changes.</font></p> <p style="margin-top: 0; margin-bottom: 3px"> <i> <font face="Arial" size="2"> John R. Bedosky</font></i></p> <p style="margin-top: 0; margin-bottom: 3px"> &nbsp;</p> <p style="margin-top: 0; margin-bottom: 3px"> <b> <font face="Arial" size="2">15. Trust Administration</font></b></p> <p style="margin-top: 0; margin-bottom: 3px"> <font face="Arial" size="2">Executing a special needs trust agreement is only the first step when sheltering the assets of a person with a disability from medical assistance and supplemental security income mandated asset limitations. Failure to properly adminster a special needs trust may inadvertently terminate the trust; exposing trust assets to potential creditor claims and litigation. We will present some hidden landmines of trust administration and discuss ways to recognize and avoid them.</font></p> <p style="margin-top: 0; margin-bottom: 3px"> <i> <font face="Arial" size="2"> Lori L. Guzman &amp; Janet E. Totter</font></i></p> <p style="margin-top: 0; margin-bottom: 3px"> &nbsp;</p> <p style="margin-top: 0; margin-bottom: 3px"> <b> <font face="Arial" size="2">16. Modifying Irrevocable Trusts</font></b></p> <p style="margin-top: 0; margin-bottom: 3px"> <font face="Arial" size="2">Due to changed circumstances, estate planners are often faced with the problem the irrevocable trusts no longer meet their clients objectives and the beneficiary s needs. In many cases, it may be possible to modify such trusts. Ten states now explicitly allow a trustee to pour the assets of an irrevocable trust into a new trust (referred to as &quot;decanting&quot;), and other states have provisions permitting trust modifications. This session will explore some of the state law considerations and options for modifying irrevocable trusts and highlight some of the tax consequences of modification.</font></p> <p style="margin-top: 0; margin-bottom: 3px"> <i> <font face="Arial" size="2"> Christopher B. Hunt &amp; Karen N. Sandler Steinert</font></i></p> <p style="margin-top: 0; margin-bottom: 3px"> &nbsp;</p> <p style="margin-top: 0; margin-bottom: 3px"> <b> <font face="Arial" size="2">17. The Best Defense is a Good Offense: How Fiduciaries Can Administer to Avoid Litigation in the First Place  and Win When It Arises</font></b></p> <p style="margin-top: 0; margin-bottom: 3px"> <font face="Arial" size="2">Learn techniques for administering estates and trusts proactively to avoid litigation; gain insight regarding strategies for administering an estate or trust when litigation arises; consider how more recent caselaw examining fiduciary duties impacts daily administration; and consider strategies and options for allocating the limited stepped up income tax basis under 2010 federal law to assets so as to protect yourself from attacks by beneficiaries.</font></p> <p style="margin-top: 0; margin-bottom: 3px"> <i> <font face="Arial" size="2"> Marya P. Robben</font></i></p> <p style="margin-top: 0; margin-bottom: 3px"> &nbsp;</p> <p style="margin-top: 0; margin-bottom: 3px"> <b> <font face="Arial" size="2">18. Stock Options and the Executive  5 Strategies Estate Planners Need to Know</font></b></p> <p style="margin-top: 0; margin-bottom: 3px"> <font face="Arial" size="2">Differences between NQ and ISO options; how to determine when to exercise stock options; minimizing the tax implications on stock options; avoiding the AMT nightmare; and gifting of stock options to reduce the estate.</font></p> <p style="margin-top: 0; margin-bottom: 3px"> <i> <font face="Arial" size="2"> Daniel Langworthy</font></i></p> </blockquote> <p style="margin-top: 0; margin-bottom: 3px"> <font face="Arial" size="2">3:40  3:55 p.m.</font></p> <blockquote> <p style="margin-top: 0; margin-bottom: 3px"> <font face="Arial" size="2">BREAK</font></p> </blockquote> <p style="margin-top: 0; margin-bottom: 3px"> <font face="Arial" size="2">3:55  4:55 p.m.</font></p> <blockquote> <p style="margin-top: 0; margin-bottom: 3px"> <b> <font face="Arial" size="2"><span style="background-color: #E1E1E1">&nbsp;BREAKOUT SESSION C </span></font></b></p> <p style="margin-top: 0; margin-bottom: 3px"> &nbsp;</p> <p style="margin-top: 0; margin-bottom: 3px"> <b> <font face="Arial" size="2">19. Medical Assistance Update</font></b></p> <p style="margin-top: 0; margin-bottom: 3px"> <font face="Arial" size="2">Previews of the 2010 session of the Legislature have promised heavy cuts in all areas of the state budget, including human services. This session will discuss changes in medical assistance benefits, if any. The session will also discuss the status of the 2009 amendments to the estate recovery statute and the effect these amendments are having on real estate and probate practice. If these amendments are approved by CMS, this session will also discuss potential challenges to their legality.</font></p> <p style="margin-top: 0; margin-bottom: 3px"> <i> <font face="Arial" size="2"> Julian J. Zweber</font></i></p> <p style="margin-top: 0; margin-bottom: 3px"> &nbsp;</p> <p style="margin-top: 0; margin-bottom: 3px"> <b> <font face="Arial" size="2">20. Prosecution and Prevention of Crimes Against the Elderly</font></b></p> <p style="margin-top: 0; margin-bottom: 3px"> <i> <font face="Arial" size="2"> Philip Carruthers &amp; Robert Plesha</font></i></p> <p style="margin-top: 0; margin-bottom: 3px"> &nbsp;</p> <p style="margin-top: 0; margin-bottom: 3px"> <b> <font face="Arial" size="2">21. Special Administrations: Why They Are So Special</font></b></p> <p style="margin-top: 0; margin-bottom: 3px"> <font face="Arial" size="2">When to use a special administration (purpose); how to utilize for real estate transfers/conveyances; and when not to use a special administration.</font></p> <p style="margin-top: 0; margin-bottom: 3px"> <i> <font face="Arial" size="2"> Kathi A. Kodadek</font></i></p> <p style="margin-top: 0; margin-bottom: 3px"> &nbsp;</p> <p style="margin-top: 0; margin-bottom: 3px"> <b> <font face="Arial" size="2">22. Second Marriage Estate Planning</font></b></p> <p style="margin-top: 0; margin-bottom: 3px"> <i> <font face="Arial" size="2"> Robert W. Mairs &amp; Matthew J. Shea</font></i></p> <p style="margin-top: 0; margin-bottom: 3px"> &nbsp;</p> <p style="margin-top: 0; margin-bottom: 3px"> <b> <font face="Arial" size="2">23. Multiple Advisors Working Together: One for All and All for the Client</font></b></p> <p style="margin-top: 0; margin-bottom: 3px"> <font face="Arial" size="2">Collaboration among multiple clients advisors to meet client s goals and objectives; effective ways to facilitate client meetings when external advisors are involved and communication strategies to stay organized and help the clients achieve their goals.</font></p> <p style="margin-top: 0; margin-bottom: 3px"> <i> <font face="Arial" size="2"> Nancy Anderson, Bridget A. Logstrom-Koci &amp; Kevin C. Whitaker</font></i></p> <p style="margin-top: 0; margin-bottom: 3px"> &nbsp;</p> <p style="margin-top: 0; margin-bottom: 3px"> <b> <font face="Arial" size="2">24. What Every Estate Planning Attorney NEEDS to Know About Assisted Reproduction  Avoiding Malpractice By Learning About Sex</font></b></p> <p style="margin-top: 0; margin-bottom: 3px"> <font face="Arial" size="2">Relevance and importance of the Assisted Reproduction Technology (ART) law; types of estate planning and trust issues ART law impacts; new cases interpreting the effect of ART on probate; proposed amendments to Uniform Probate Code and possible impact on local estate planning.</font></p> <p style="margin-top: 0; margin-bottom: 3px"> <i> <font face="Arial" size="2"> Steven H. Snyder</font></i></p> <p style="margin-top: 0; margin-bottom: 3px"> &nbsp;</p> <p style="margin-top: 0; margin-bottom: 3px"> <b> <font face="Arial" size="2">25. Estate Planning for Owners of S Corporations  Taking Advantage of the Opportunities By Utilizing Grantor Trusts, ESBTs and QSSTs</font></b></p> <p style="margin-top: 0; margin-bottom: 3px"> <font face="Arial" size="2">Advantages and disadvantages that S corporations have compared to C corporations in estate planning; when to use a grantor trust, ESBT and QSST in designing trusts to hold S corporation stock; and how S corporations enhance certain estate planning strategies: traps and pitfalls to avoid in dealing with trusts that own S corporation stock.</font></p> <p style="margin-top: 0; margin-bottom: 3px"> <i> <font face="Arial" size="2"> Barry J. Newman &amp; Benjamin C. Carpenter</font></i></p> <p style="margin-top: 0; margin-bottom: 3px"> &nbsp;</p> <p style="margin-top: 0; margin-bottom: 3px"> <b> <font face="Arial" size="2">26. Entrepreneurs and the Changing Landscape of Philanthropy</font></b></p> <p style="margin-top: 0; margin-bottom: 3px"> <font face="Arial" size="2">Recent research conducted by Bank of America and the Center on Philanthropy has proven that philanthropists are the most generous people in America. Not only have these creative and hypomanic individuals shaped the American economy, but they are reshaping the landscape of philanthropy as well. This talk will highlight characteristics of entrepreneurs, the minds of new philanthropreneurs, how they learn, and what they expect from their advisors and professionals in development.</font></p> <p style="margin-top: 0; margin-bottom: 3px"> <i> <font face="Arial" size="2"> James Hodge</font></i></p> <p style="margin-top: 0; margin-bottom: 3px"> &nbsp;</p> <p style="margin-top: 0; margin-bottom: 3px"> <b><font face="Arial" size="2">27. Planning for Disabled Beneficiaries in a High-Net Worth Estate</font></b></p> <p style="margin-top: 0; margin-bottom: 3px"> <font face="Arial" size="2">The importance of planning properly for clients with disabilities; why it is critical to plan correctly even if the clients have resources to privately pay for care; drafting the trust to qualify for public benefits; how boilerplate language in trusts can disqualify disabled individuals from receiving needed benefits; third-party gifts to special needs trusts; and income, estate and gift tax issues related to special needs trust.</font></p> <p style="margin-top: 0; margin-bottom: 3px"> <i> <font face="Arial" size="2"> Sarah J. Rowley</font></i></p> </blockquote> <p style="margin-top: 0; margin-bottom: 3px"> <font face="Arial" size="2">4:55  6:15 p.m.</font></p> <blockquote> <p style="margin-top: 0; margin-bottom: 3px"> <font face="Arial" size="2">INSTITUTE RECEPTION<br> <i>Sponsored by Lowry Hill</i></font></p> </blockquote> <p style="margin-top: 0; margin-bottom: 3px">&nbsp;</p> <p style="margin-top: 0; margin-bottom: 3px"><b> <font face="Arial" style="font-size: 11pt">Day 2  Tuesday, June 8, 2010</font></b></p> <p style="margin-top: 0; margin-bottom: 3px">&nbsp;</p> <p style="margin-top: 0; margin-bottom: 3px"> <font face="Arial" size="2">8:00  8:30 a.m.</font></p> <blockquote> <p style="margin-top: 0; margin-bottom: 3px"> <font face="Arial" size="2">CONTINENTAL BREAKFAST</font></p> </blockquote> <p style="margin-top: 0; margin-bottom: 3px"> <font face="Arial" size="2">8:20  8:30 a.m.</font></p> <blockquote> <p style="margin-top: 0; margin-bottom: 3px"> <span style="text-transform: uppercase"><font face="Arial" size="2">Annual Section Meeting: Amendment of Bylaws and Election of Officers</font></span></p> </blockquote> <p style="margin-top: 0; margin-bottom: 3px"> <font face="Arial" size="2">8:30  9:10 a.m.</font></p> <blockquote> <p style="margin-top: 0; margin-bottom: 3px"><b> <font face="Arial" size="2">Non-Tax Case Law Update</font></b></p> <p style="margin-top: 0; margin-bottom: 3px"><i> <font face="Arial" size="2"> William J. Berens &amp; Emily G. Irwin</font></i></p> </blockquote> <p style="margin-top: 0; margin-bottom: 3px"> <font face="Arial" size="2">9:10  10:30 a.m.</font></p> <blockquote> <p style="margin-top: 0; margin-bottom: 3px"><b> <font face="Arial" size="2">Federal Developments</font></b></p> <p style="margin-top: 0; margin-bottom: 3px"> <font face="Arial" size="2">This session will explore with the audience current cases, legislation, regulations, and rulings of significance to estate planners with an eye to their practical significance to everyday planning and drafting. Audience participation will be encouraged and the session will seek to extrapolate from the law as it is developing to situations that have not yet tested the boundaries of the law.</font></p> <p style="margin-top: 0; margin-bottom: 3px"><i> <font face="Arial" size="2"> Jeffrey N. Pennell</font></i></p> </blockquote> <p style="margin-top: 0; margin-bottom: 3px"> <font face="Arial" size="2">10:30  10:45 a.m. </font></p> <blockquote> <p style="margin-top: 0; margin-bottom: 3px"> <font face="Arial" size="2">BREAK</font></p> </blockquote> <p style="margin-top: 0; margin-bottom: 3px"> <font face="Arial" size="2">10:45  11:45 a.m.</font></p> <blockquote> <p style="margin-top: 0; margin-bottom: 3px"><b> <font face="Arial" size="2"><span style="background-color: #E1E1E1">&nbsp;BREAKOUT SESSION D </span></font></b></p> <p style="margin-top: 0; margin-bottom: 3px">&nbsp;</p> <p style="margin-top: 0; margin-bottom: 3px"><b> <font face="Arial" size="2">28. Changing Demographics in Estate Planning</font></b></p> <p style="margin-top: 0; margin-bottom: 3px"> <font face="Arial" size="2">Estate planning will adapt to changing client demographics, as we redesign planning that was developed for prior generations. For example, Baby Boomer attitudes differ from their War II generation parents  about wealth; about the role and abilities of women; about marriage, divorce, remarriage, and family; about education; and about work, retirement, and inheritance. Our challenge is to reflect the desires of a generation that is just now beginning to seriously consider estate planning, as they inherit wealth (over 75% of Boomers are not yet orphans), retire, and reach the age at which peers die of natural causes.</font></p> <p style="margin-top: 0; margin-bottom: 3px"><i> <font face="Arial" size="2"> Jeffrey N. Pennell</font></i></p> <p style="margin-top: 0; margin-bottom: 3px">&nbsp;</p> <p style="margin-top: 0; margin-bottom: 3px"><b> <font face="Arial" size="2">29. Large Estate Panel  (P)annelly Retentive: What to Do When Ya Don t Know Nuthin for Sure No More</font></b></p> <p style="margin-top: 0; margin-bottom: 3px"><i><b> <font face="Arial" size="2" color="#CC6633">2-hour session</font></b></i></p> <p style="margin-top: 0; margin-bottom: 3px"> <font face="Arial" size="2">Panel members return to disagree among themselves on pressing planning, technical and practice management issues that leave everyone befuddled in the post-estate/GST tax repeal environment. Learn who is brazen and who is frozen by the debacle. What IS the standard of practice when nothing is standard? See panelists squirm over the tough questions and (wrongly) predict what Congress will do. Pose your questions in advance to Alan Yanowitz at <b> <a href="mailto:alan@mnestateplanning.com?subject=Large Estate Panel">alan@mnestateplanning.com</a></b>.</font></p> <p style="margin-top: 0; margin-bottom: 3px"><i> <font face="Arial" size="2"> John R. Bedosky, Bronwen L. Cound, Mark W. Greiner, Charles (Chip) T. Parks, Jr. &amp; Alan J. Yanowitz <br> E. Burke Hinds, moderator</font></i></p> <p style="margin-top: 0; margin-bottom: 3px">&nbsp;</p> <p style="margin-top: 0; margin-bottom: 3px"><b> <font face="Arial" size="2">30. Dead Head s 101  A Probate Practitioner s Panel</font></b></p> <p style="margin-top: 0; margin-bottom: 3px"> <font face="Arial" size="2">This panel of experienced probate practitioners will discuss basic questions that arise for attorneys and paralegals during the administration of a decedent s estate about: probate and non-probate assets; creditor s claims; opening and closing issues; and what to do when you get the first call from a family. If you have specific questions that you would like the panel to address/discuss, please e-mail them to <b> <a href="mailto:vobrien@minncle.org?subject=Probate Practitioner's Panel">vobrien@minncle.org</a></b>.</font></p> <p style="margin-top: 0; margin-bottom: 3px"><i> <font face="Arial" size="2"> Andrea S. Breckner, Cynthia R. Costello, Kathi A. Kodadek, Michael P. Sampson, Mary E. Shearen &amp; Peggy Zdon <br> Susan J. Link, moderator</font></i></p> <p style="margin-top: 0; margin-bottom: 3px">&nbsp;</p> <p style="margin-top: 0; margin-bottom: 3px"><b> <font face="Arial" size="2">31. Behavior Economics/Finance and Implications for Guiding and Counseling Individuals  Bubbles and Busts, Manias and Panics</font></b></p> <p style="margin-top: 0; margin-bottom: 3px"> <font face="Arial" size="2">Contrary to popular teaching, investment is often irrational. What are accurate patterns of economic and finance theory; how individuals might react to stressful situations  be they induced by market conditions, estate planning discussions, or induced in the process of a takeover, merger, discussion of succession planning or just about any other situation that involves assets, money, emotions or family, how to deal with the variety of investment habits in environments that are volatile, emotional and/or unpredictable; and various strategies for helping those we counsel understand and circumvent many of the most common biases.</font></p> <p style="margin-top: 0; margin-bottom: 3px"><i> <font face="Arial" size="2"> Carol M. Clark</font></i></p> <p style="margin-top: 0; margin-bottom: 3px">&nbsp;</p> <p style="margin-top: 0; margin-bottom: 3px"><b> <font face="Arial" size="2">32. Avoiding the Uncommon Difficulties Caused by Common Drafting Errors  A Trust Officer and an Estate Planner Discuss Will and Trust Drafting Tips and Trap</font></b></p> <p style="margin-top: 0; margin-bottom: 3px"> <font face="Arial" size="2">A practical discussion of common drafting errors and sample will and trust provisions to avoid them. Topics covered will include trustee succession, share adjustment formulas, incentive trust language, expense and tax payment clauses, specific and pecuniary gifts, and other drafting issues that are faced by practitioners planning estates both large and small. The presentation will focus primarily on practical advice and drafting tips, but will also cover some recent Minnesota cases involving problems that could have been avoided through better drafting.</font></p> <p style="margin-top: 0; margin-bottom: 3px"><i> <font face="Arial" size="2"> William C. Kuhlmann &amp; Cameron R. Seybolt</font></i></p> <p style="margin-top: 0; margin-bottom: 3px">&nbsp;</p> <p style="margin-top: 0; margin-bottom: 3px"><b> <font face="Arial" size="2">33. Medical Assistance Estate Recovery and Marital Property Rights  Another Trip Through the Rabbit Hole</font></b></p> <p style="margin-top: 0; margin-bottom: 3px"> <font face="Arial" size="2">To nullify for future cases the recent Minnesota Supreme Court decision in the Estate of Francis E. Barg, the Legislature passed a number of amendments to Minn. Stat. 256B.15, the medical assistance estate recovery statute. These changes became effective July 1, 2009. These amendments have the effect of abolishing the separate property rights of husband and wife if either one receives medical assistance. These changes will affect real estate practice as well as probate law, family law, and estate planning in general.</font></p> <p style="margin-top: 0; margin-bottom: 3px"><i> <font face="Arial" size="2"> Julian J. Zweber</font></i></p> <p style="margin-top: 0; margin-bottom: 3px">&nbsp;</p> <p style="margin-top: 0; margin-bottom: 3px"><b> <font face="Arial" size="2">34. Exiting the Family Limited Partnership</font></b></p> <p style="margin-top: 0; margin-bottom: 3px"> <font face="Arial" size="2">Partner wants to sell his interest in the FLP or have the FLP redeem part or all of his interest. Or, for whatever reasons, it s time to completely liquidate the partnership. What tax traps lurk? </font></p> <p style="margin-top: 0; margin-bottom: 3px"><i> <font face="Arial" size="2"> Robert F. Collins</font></i></p> </blockquote> <p style="margin-top: 0; margin-bottom: 3px"> <font face="Arial" size="2">11:45  11:55 a.m.</font></p> <blockquote> <p style="margin-top: 0; margin-bottom: 3px"> <font face="Arial" size="2">BREAK</font></p> </blockquote> <p style="margin-top: 0; margin-bottom: 3px"> <font face="Arial" size="2">11:55 a.m.  12:55 p.m.</font></p> <blockquote> <p style="margin-top: 0; margin-bottom: 3px"><b> <font face="Arial" size="2"><span style="background-color: #E1E1E1">&nbsp;BREAKOUT SESSION E </span></font></b></p> <p style="margin-top: 0; margin-bottom: 3px">&nbsp;</p> <p style="margin-top: 0; margin-bottom: 3px"><b> <font face="Arial" size="2">#29 continued& Large Estates Panel</font></b></p> <p style="margin-top: 0; margin-bottom: 3px">&nbsp;</p> <p style="margin-top: 0; margin-bottom: 3px"><b> <font face="Arial" size="2">35. Client Communication, in Good Times and in Bad</font></b></p> <p style="margin-top: 0; margin-bottom: 3px"> <font face="Arial" size="2">How to talk to clients who have fear and anxiety and help them with estate planning issues and situations. </font></p> <p style="margin-top: 0; margin-bottom: 3px"><i> <font face="Arial" size="2"> James W. Rockwell</font></i></p> <p style="margin-top: 0; margin-bottom: 3px">&nbsp;</p> <p style="margin-top: 0; margin-bottom: 3px"><b> <font face="Arial" size="2">36. Choosing Corporate Trustees</font></b></p> <p style="margin-top: 0; margin-bottom: 3px"> <font face="Arial" size="2">A checklist of things to consider, potential drafting language, planning for the future with all the changes that have happened to banks and banking as well as investments and investing.</font></p> <p style="margin-top: 0; margin-bottom: 3px"><i> <font face="Arial" size="2"> Christopher J. Burns &amp; Janet M. Wilebski</font></i></p> <p style="margin-top: 0; margin-bottom: 3px">&nbsp;</p> <p style="margin-top: 0; margin-bottom: 3px"><b> <font face="Arial" size="2">37. Making Lemonade: Recipes for Charitable Planning in the Aftermath of the Great Recession</font></b></p> <p style="margin-top: 0; margin-bottom: 3px"> <font face="Arial" size="2">To be a philanthropist these days is to be a contrarian. Explore gifts that are attractive because of the recession, but also those that will appeal in spite of the economy and some that are perennially interesting. Low interest rates create special opportunities for charitable lead annuity trusts and charitable gifts of remainders in personal residences. Farm commodities, real property, closely help business interests and artwork may have held enough value to provide attractive funding for a charitable remainder trust. Special issues these arrangements present and implications for charitable planning.</font></p> <p style="margin-top: 0; margin-bottom: 3px"><i> <font face="Arial" size="2"> Robert E. Harding &amp; Sheryl G. Morrison</font></i></p> <p style="margin-top: 0; margin-bottom: 3px">&nbsp;</p> <p style="margin-top: 0; margin-bottom: 3px"><b> <font face="Arial" size="2">38. Time Value of Money and Actuarial Calculations</font></b></p> <p style="margin-top: 0; margin-bottom: 3px"> <font face="Arial" size="2">If a dollar today is worth more than a dollar tomorrow, are two dollars tomorrow worth more than a dollar today? Maybe, unless you re dead. Time-value of money; Principles of: Life expectancy and probability of survival; how they apply in estate planning techniques; and an overview of IRS valuation tables.</font></p> <p style="margin-top: 0; margin-bottom: 3px"><i> <font face="Arial" size="2"> John L. Nelson</font></i></p> <p style="margin-top: 0; margin-bottom: 3px">&nbsp;</p> <p style="margin-top: 0; margin-bottom: 3px"><b> <font face="Arial" size="2">39. Income Tax Update  We Thought the &quot;Ought s&quot; Were Over. Everything Old is New Again.</font></b></p> <p style="margin-top: 0; margin-bottom: 3px"> <font face="Arial" size="2">Historical context of state and federal income tax law; changes in state and federal income tax law in the past year; and anticipated changes in the next year.</font></p> <p style="margin-top: 0; margin-bottom: 3px"><i> <font face="Arial" size="2"> Kelli A. Enders &amp; Marcia E. Urban</font></i></p> <p style="margin-top: 0; margin-bottom: 3px">&nbsp;</p> <p style="margin-top: 0; margin-bottom: 3px"><b> <font face="Arial" size="2">40. Cross-Border/Snowbird Planning</font></b></p> <p style="margin-top: 0; margin-bottom: 3px"> <font face="Arial" size="2">Unauthorized practice of law; the basic rules, with a focus on estate planning in other states, (e.g. funding a Minnesota revocable trust with Florida real estate); income tax and residency rules for clients moving out of Minnesota  how to do it right (and wrong)!; how other state &quot;core&quot; estate planning documents differ from Minnesota documents (i.e. wills, revocable trusts, health care directives, financial powers of attorney, etc.)  the basics and more; irrevocable Minnesota trusts  what happens when I (or the trust beneficiaries) move to another state?; Traps for the unwary: community property law issues and other state law differences (e.g. wills, trusts, health care directives, power of attorneys, real estate transfers, estate tax apportionment, will and trust execution rules, elective share rights)  Minnesota vs. other states; and a quick look at &quot;true&quot; cross-border issues  what about Canadians and other non-citizens?</font></p> <p style="margin-top: 0; margin-bottom: 3px"><i> <font face="Arial" size="2"> William C. Forsberg &amp; Melinda K. Greer</font></i></p> </blockquote> <p style="margin-top: 0; margin-bottom: 3px"> <font face="Arial" size="2">12:55 p.m. </font></p> <blockquote> <p style="margin-top: 0; margin-bottom: 3px"> <font face="Arial" size="2">ADJOURN</font></p> </blockquote> <p style="margin-top: 0; margin-bottom: 3px">&nbsp;</p> <p style="margin-top: 0; margin-bottom: 3px"><b> <font face="Arial" size="2"><span style="background-color: #FEE794">&nbsp;SPECIAL BONUS SESSION </span></font></b></p> <p style="margin-top: 0; margin-bottom: 3px"> <font face="Arial" size="2"><b>1:15  3:30 p.m.<br></b>(includes one 15-minute break)</font></p> <p style="margin-top: 0; margin-bottom: 3px"> <font face="Arial" size="2">This special session is free to all Probate &amp; Trust Conference attendees. If you want to attend this bonus session we need to know so we can have a lunch ready for you! If you register for the Probate &amp;&nbsp; Trust Conference by phone, please let us know if you plan to attend this session. If you register online, please email <b> <a href="mailto:registrar@minncle.org?subject=Free Elimination of Bias Session for Probate & Trust Conference Attendees">registrar@minncle.org</a></b> to indicate whether or not you will be attending this bonus session. </font><i><font face="Arial" size="1" color="#CC6633">You must be registered for the 2010 Probate &amp; Trust Conference in order to attend this seminar for free. Registration will be verfied.</font></i></p> <blockquote> <p style="margin-top: 0; margin-bottom: 3px"><b> <font face="Arial" size="2">I Am Not My Illness: Dealing with Mental Illness</font></b></p> <p style="margin-top: 0; margin-bottom: 3px"><i><b> <font face="Arial" size="2" color="#CC6633">2.0 elimination of bias credits applied for</font></b></i></p> <p style="margin-top: 0; margin-bottom: 3px"> <font face="Arial" size="2">This informative 2-hour elimination of bias session will offer new perspectives on mental illness. We will hear from an individual who has dealt with severe mental illness who will share with us his experiences on the road to health and recovery. We will hear from a psychiatrist what mental illness is (and what it isn t), how it is diagnosed, and how symptoms are experienced and treated. We will hear from a social worker about treatment approaches and the outcomes that can be achieved with proper intervention and monitoring. And we will explore the ethical challenges that we as lawyers face when we represent clients who are dealing with mental illness (either their own or that of a family member), as well as the legal options and tools lawyers can employ in these situations. The goal of the session will be to learn about our own biases about mental illness and to develop an understanding of some of the practical strategies that can lead to better outcomes for our clients.</font></p> <p style="margin-top: 0; margin-bottom: 3px"><i> <font face="Arial" size="2"> Matthew J. Frerichs, Julie Grothe, Michael P. Sampson, Will Susens &amp; (Psychiatrist To Be Announced)</font></i></p> </blockquote> </td> </tr> <tr> <td align="left" valign="top">&nbsp;</td> <td align="left" valign="top" width="100%"> &nbsp;</td> </tr> </table>