SOUTHERN ARIZONA ESTATE PLANNING COUNCIL

Handouts Available

Friday, January 26, 2024
Estate Planner’s Day 2024
We’re Back Fully In Person

Edwin P. Morrow II, Wealth Strategist with Huntington Private Bank
S. Gray Edmondson, Edmondson Sage Allen PLLC

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Breakfast and Opening Notes from our Council
8:00 am - 8:30 am

Session 1
8:30 am - 10:30 am

-- Trust modifications and potential tax ramifications – Yes, we can modify nearly any trust with settlor and/or beneficiary consent under various common law and UTC provisions, but when does this potentially cause income tax, gift, or GST tax problems? 1hr

-- State income tax of trusts – changing situs (or even non-grantor trust status) to avoid state income tax and avoiding potential pitfalls of IGTs paying state income tax for their grantors under new PTE tax regimes. 1hr

Break

Session 2 
10:45 am - 11:45 am

-- Domestic Asset Protection Trust (DAPT) Planning and DAPT alternatives, including “Back Door SLATs” – to what extent can clients “have their cake and eat it too?” 1 hr

Lunch

Session 3 
12:45 pm - 2:15 pm

-- Income Tax Basis Planning – planning to maximize the basis at first spouse’s death through deathbed giving, community property trusts, “disclaim to gain strategy”, Joint Exempt Step-Up Trusts (JEST) and swaps with IGTs (including “basis rescue lending” strategies).  Upstream planning – when and how to name older relatives and grant them general powers to soak up their basis increasing coupon (applicable exclusion amount). 1.5 hr

Break

Session 4
2:30 pm - 4:00 pm

-- Buy-Sell Planning (especially entity buy-sells in light of the Connelly 8^th Circuit decision) – should owners with entity buy-sells funded with life insurance consider changing to separate LLC/trusts or cross-purchase arrangements?  Should we re-evaluate reported basis for any recent estates that may have participated in such arrangements? 45 min

-- Charitable gifts and pitfalls of giving closely held hard to value assets (Hoensheid case) – How late is too late to give and avoid the assignment of income doctrine?  Both for charities and other donees? 45 min

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Once the handout for this program has been made available to us, you will be able to access it here.

About S. Gray Edmondson

Gray is a partner with Edmondson Sage Allen PLCC in Oxford, Mississippi, and practices in the areas of partnership, corporate, and individual tax planning; business transactions including mergers and acquisitions; business planning; tax controversy; estate and wealth transfer planning; probate; estate and trust litigation; asset protection; and charitable planning. Gray has conducted, authored, and directed numerous seminars for professional, academic, and civic groups on taxation, business, asset protection and estate planning. Planning estates needs intricate strategies. Gray works closely with clients to develop and implement such strategies. Gray enjoys cooking at home in his outdoor brick oven and spending his spare time on his sailboat with his wife, Macey, and two boys, Charles and Mason, at Sardis Lake or on the Gulf Coast.

About Edwin P. Morrow III

Ed is a regional wealth strategist for Huntington Bank Private Wealth Management, analyzing tax, trust and estate planning needs of high net worth and ultra-high net worth clients.

Formerly he had similar positions with U.S. Bank Private Wealth and KeyBank's Family Wealth Advisory Group.  Prior to that he was in private law practice, concentrating in the estate planning, probate, tax, and trust areas. Other experience includes research and writing of legal memoranda for the U.S. District Court of Portland, Oregon as a law clerk. He is a Board-Certified Specialist (Ohio State Bar Association) in Estate Planning, Trust and Probate Law, a Fellow in the American College of Trust and Estate Counsel, a Certified Financial Planner (CFP), and a Certified Mergers and Acquisitions Advisor (CM&AA). He is also a Non-Public Arbitrator for the Financial Industry Regulatory Authority (FINRA).

Ed is a frequent speaker at CLE/CPE courses on asset protection, tax, and various financial and estate planning topics and is a co-author of the recently released 21^st Edition of the “Tools and Techniques of Estate Planning”, along with distinguished co-authors L. Paul Hood and the late Steve Leimberg.

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SAEPC Member - $250

Non-Member - $350

Non-Member + SAEPC Membership Jan 2024 - June 2024 $425

Cancellation policy

Cancellation by 1/2/24 — Refund minus $100 
    through 1/2/23, a registration may be transferred to another person for $60 plus any applicable difference in fees.

After 1/15/24, no refunds or transfers