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Wills Trusts Estate Planning

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									                                                  CLE
                                          Double Header
                                   and a Tribute to Stanley Johanson
                                     at The Center for American and International Law
                                                        Plano, Texas




  After more than a quarter

  century, Stanley Johanson
                                             ESTATE PLANNING
                                                    May 16-18, 2006
  will chair the May 16-18

  Course on Estate Planning for

  the last time. He will also be                  BANQUET WITH
  our “roastee” at dinner on                     PROF. JOHANSON
                                          Thursday Evening, May 18, 2006
  May 18 and the featured

  luncheon speaker on May 19.                        the 44th Advanced Program on

                                         WILLS, TRUSTS AND
                                          ESTATE PLANNING
                                                                     May 19, 2006

Includes 3 total hours of Ethics CLE           Register TODAY ... www.cailaw.org
                                ESTATE PLANNING                                          PLANNING AND DRAFTING STRATEGIES IN AN
                                                                                         UNCERTAIN ENVIRONMENT
                                                                                         Prof. Johanson
                                MAY 16-18, 2006                                          What should we be advising clients (and
                                                                                         which clients are most affected) in view of
                                THE CENTER FOR AMERICAN AND                              (i) the programmed increase in the applicable
                                INTERNATIONAL LAW offers this intensive                  exclusion amount on existing wills, (ii) the
WHO SHOULD                      three-day course for the probate and estate              2001 Tax Act, which says estate and genera-
                                                                                         tion-skipping transfer tax (but not the gift tax)
ATTEND                          planning practitioner on legal and practical
                                problems encountered in planning estates,
                                                                                         will be repealed in 2010 but will reappear in
                                                                                         2011, (iii) the virtual certainty that Congress
The May 16-18 program           drafting wills and trusts, and administering             will revisit this subject at least once between
is for new lawyers (and         estates in both community property and                   now and 2010, and (iv) the possibility that
other professionals)                                                                     the client may lose his or her capacity to
who want to include             common-law states, including a consideration of
                                                                                         make adjustments after Congress re-changes
Estate Planning in their        relevant income, estate, and gift tax principles.        the rules.
practices and for more
experienced lawyers             Registration and Classes: Registration will
who want a comprehen-            be conducted at the Center for American and             MARITAL DEDUCTION AND BYPASS
sive overview.                  International Law, 5201 Democracy Drive, Plano,          TRUST PLANNING
                                Texas, beginning at 8:30 a.m. on Tuesday, May 16.        Prof. Johanson
The May 19 program is                                                                    Basic strategies and current problem areas
                                Advance registrations, however, should be sent to
for more senior practi-
                                The Center for American and International Law,           in estate planning for spouses; recent develop-
tioners (and for those
who have attended the           5201 Democracy Drive, Plano, Texas 75024.                ments relating to marital deduction qualifica-
May 16-18 program).             Classes will meet daily from 9 a.m. to 12 p.m. and       tion and funding issues; drafting the formula
                                from 1:30 p.m. to 4:30 p.m. unless otherwise noted.      clause; QTIP trusts and the QTIP election;
The May 18 banquet is           A light continental breakfast will be served each day    drafting problems and their solution; elective
for everyone who knows          prior to class. There will be a 15-minute break each     share concerns.
and cares about                 morning and each afternoon. At the conclusion of
Professor Johanson (or                                                                   Analysis of types of marital deduction formula
                                class on Tuesday, there will be a reception at the       clauses; advantages and disadvantages of
who just wants to have
                                Center. At the conclusion of class on Tuesday and        formula pecuniary gifts (true worth, minimum
a good time.)
                                Wednesday, participants are invited to remain in class   worth, fairly representative), reverse pecuniary
                                for an informal question and answer session with         formula gift to credit shelter trust, prorata and
                                Professor Johanson.                                      “pick and choose” fractional share gifts; IRD
NONDISCRIMINATION               Course Materials: Extensive lecture outlines will        and the marital deduction.
POLICY The Center               be distributed to participants at registration.          Permissible and recommended terms of
for American and                                                                         the credit shelter trust; invasion powers;
International Law does                                                                   securing flexibility through special powers
not discriminate on the
basis of race, sex, sexual      TUESDAY                                                  of appointment.
orientation, color, religion,
national origin or ances-       MAY 16, 2006                                             ASK THE EXPERTS — An informal question
try, age or handicap                                                                     and answer discussion.
educational programs
and activities.                 ESTATE PLANNING — BASIC PRINCIPLES                       WELCOMING RECEPTION — At the conclusion of
                                AND STRATEGIES                                           class on Tuesday.
                                Prof. Johanson
                                Repeal of estate tax? Developments on the
                                legislation front; overview of estate and gift tax
                                principles and basic planning techniques; val-
                                uation issues; gross estate inclusion rules;
                                estate taxation of life insurance and other
                                non-probate transfers; reciprocal trust
                                doctrine; charitable gifts in estate planning,
                                including charitable remainder trusts; problem
                                areas relating to lifetime gifts; basic estate
                                planning for spouses; community property
                                considerations; income in respect to a
                                decedent (IRD).
                                                                       “The pace was excellent and the topics covered
                                                                       were very informative and timely.”
                                                                              — Former Estate Planning Program



                                                                       planning objectives; determining whether a business
                                                                       should be sold or kept in the family; advantages of
                                                                       making a charitable organization a planning partner,
                                                                       including the role of charitable remainder trusts and
                                                                       life insurance trusts in the planning process; tax and
                                                                       non-tax advantages of family limited partnerships;
                WEDNESDAY                                              checklist of planning alternatives; in-depth analysis
                                                                       of several case studies.
                MAY 17, 2006                                           ETHICAL PROBLEMS IN ESTATE PLANNING FOR THE
                                                                       FAMILY BUSINESS (11-12 PM AND 1-2 PM)
                ESTATE PLANNING FOR THE FAMILY BUSINESS,               Prof. Johanson and Mr. Bourland
                INCLUDING USE OF FAMILY LIMITED PARTNERSHIPS
                                                                       Ethical issues and conflict of interest concerns in
                Michael V. Bourland, Bourland Wall & Wenzel,
                                                                       estate planning for family businesses; conflict and
                Fort Worth, TX
                                                                       confidentiality problems in planning for spouses,
                Estate and succession planning for a family business   siblings, and other family members; client conflict
                and its owners; ascertaining family attitudes toward   letters and other documentation; malpractice
                wealth and the family business; development of         concerns; quality control procedure; privity issues.




                                                     Join us as we
COU




                                                        ROAST
                                                      Professor Johanson
                                                      Thursday Evening, May 18
                                                      6:00 pm - Reception – 6:45 pm - Dinner
                                                      at The Center for American and International Law

      Fannie Coplin Regents Chair, University Distinguished Teaching Professor, University of Texas School of Law

      Professor Johanson joined the University of Texas faculty in 1963, and was in the inaugural group of professors
      elected in 1995 to the University of Texas Academy of Distinguished Teachers. Professor Johanson is the co-author
      of Wills, Trusts and Estates (Aspen, 6th ed., 2000), which is used in over 120 American law schools, and is the
      author of Johanson's Texas Probate Code Annotated (West, 2003) and "Wills", in the Gilbert Law Series (Bar/Bri
      Group, 2003). In 1997, Professor Johanson received the Treat Award for Excellence, the highest honor bestowed by
      the National College of Probate Judges. He has been a Visiting Professor at the University of Chicago, the
      University of Illinois, the University of North Carolina, the University of Washington, and UCLA. Professor
      Johanson is a member of the American Law Institute, an Academic Fellow of the American College of Trusts &
      Estates Council, and an Academic Fellow of the American College of Tax Council. The former editor-in-chief of the
      Washington Law Review and a Teaching Fellow at the Harvard Law School in 1961-63, Professor Johanson is Of
      Counsel to Vinson & Elkins, a Houston law firm.
                                                       WILLS, TRUSTS, AND




                                                                                                              COURSE AGENDA
PLANNING FOR THE ELDERLY CLIENT
Prof. Johanson
Emerging issues in the estate practice; planning for
incapacity; use of informal property management
                                                       ESTATE PLANNING
arrangements; problems raised by joint bank            MAY 19, 2006
accounts; joint tenancies, and other non-probate
transfers; durable powers of attorney; revocable       9:00    ESTATE PLANNING HOT TOPICS –
management trusts, including “standby”                         RECENT DEVELOPMENTS
self-declarations of trust; medical powers of                  Steve Akers, Bessemer Trust Company,
attorney and living wills.                                     NA, Dallas, TX

ASK THE EXPERTS — Questions and Answers.               9:30    PLANNING FOR INCAPACITY AND OTHER
                                                               LITIGATION ISSUES
                                                               Sarah Patel Pacheco & Sharon Gardner,
THURSDAY                                                       Crain Caton & James, Houston, TX

MAY 18, 2006                                           10:30   BREAK
                                                       10:45   FOUNDATIONS – DO’s AND DON'TS
GENERATION-SKIPPING TRANSFER TAX AND REMOVING                  Shannon G. Guthrie, Hughes & Luce,
APPRECIATION FROM THE ESTATE WITH GRATS AND                    Dallas, TX
“INTENTIONALLY DEFECTIVE GRANTOR TRUSTS”               11:15   A TRUSTS AND ESTATES LAWYER’S
Steve Akers, Bessemer Trust Company, NA, Dallas, TX            VIEW OF TEXAS PROPERTY LAW.
What you need to know about the GST                            The program presentation will focus on
(generation-skipping transfer tax) and how to                  recent legislative changes and other
make GST exemption allocations and deal with the               current developments, as well as other
new automatic allocation rules; planning to take               community property issues that affect the
advantage of the new GST severance rules; practical            planning and administration of a married
planning ideas in using GRATs and “Intentionally               couple’s estate.
Defective Grantor Trusts” (these are rather complex            Prof. Thomas M. Featherston, Jr. , Mills Cox
but afford unmatched opportunities for shifting                Professor of Law, Baylor University Law
future growth in the estate without making current             School, Waco, TX
taxable gifts.)                                        11:45   GST PLANNING – WHEN YOUR DADDY
                                                               BECOMES YOUR SON (OR GRANDSON)
                                                               Philip M. Lindquist, Hughes & Luce,
USER-FRIENDLY WILL DRAFTING                                    Dallas, TX
Prof. Johanson
                                                       12:15   LUNCHEON FEATURING:
Clause-by-clause analysis of a well-drafted
                                                               AN ESTATE PLANNING UPDATE (1hour)
tax-planned will, with emphasis on drafting style
                                                               Prof. Stanley Johanson
as well as substance.
                                                               Distinguished Teaching Professor and
                                                               Fannie Coplin Regents Chair in Law, The
QUALIFIED PLAN BENEFITS AND IRAs IN
                                                               University of Texas at Austin, Austin, TX
ESTATE PLANNING
Prof. Johanson                                         2:15    COMMON LAW TO COMMUNITY PROPERTY –
What the estate planner needs to know about                    Estate Planning for the Migrating Client.
qualified plans and individual retirement accounts;            Santo “Sandy” Bisignano, Jr., Bisignano
minimum distribution rules and “designated                     & Harrison, LLP, Dallas, TX
beneficiary” considerations as they affect             2:55    TAX-FREE DIVISION: FAMILY BUSINESS
distributions after participant’s death; spousal               SUCCESS PLANNING FOR THE
rollover issues; coordination of qualified plan                DYSFUNCTIONAL FAMILY
benefits and IRAs with QTIP marital deduction                  Michael V. Bourland, Bourland Wall &
trusts; community property issues; charitable                  Wenzel, PC, Fort Worth, TX
planning uses for the qualified plan or IRA benefit;
Roth IRAs.                                             3:25    BREAK
                                                       3:40    LAW & ETHICS
                                                               Coyt Randal Johnston, Johnston Tobey, PC,
                                                               Dallas, TX
                                                       4:40    ADJOURN
      FOUR WAYS
                                                                              REGISTRATION
      TO REGISTER

Online
www.cailaw.org
                                                   ESTATE PLANNING - MAY 16-18, 2006
credit card only                               BANQUET WITH PROF. JOHANSON - MAY 18, 2006
Phone                                                                  44TH ADVANCED PROGRAM ON
972.244.3400 or
800.409.1090                              WILLS, TRUSTS, AND ESTATE PLANNING - MAY 19, 2006
8:30am-5:00pm CST
credit card only                                                                               Received         Received      CAIL Members/
                                      Registration Fee                                         by May 8         after May 8   Government Lawyers
Fax                                   May 16-18 – Estate Planning Program                      K   $945         K   $995      K $845
972.244.3401                          May 18 – Banquet Honoring Stanley Johanson               K   $70          K   $75       K $60
credit card only                      May 19 – Wills, Trusts and Estate Planning Program       K   $295         K   $325      K $275
Mail                                  All Events                                               K   $1,150       K   $1,200    K $1,050
The Center for American and
International Law                     Name ___________________________________________________________________________
5201 Democracy Drive
Plano, TX USA 75024                   Firm ___________________________________________________________________________
check or credit card
                                      Address _________________________________________________________________________
    PAYMENT MUST
ACCOMPANY REGISTRATION                City, State, Postal Code ______________________________________________________________

MCLE CREDIT: For continuing           Phone ___________________________________ Fax ____________________________________
legal education hours please
visit our website or contact us at
                                      E-mail ___________________________________________________________________________
972-244-3400.
CANCELLATION POLICY: Tuition          Name of Guest for May 18 banquet ($50 per person) __________________________________________
less a $50 cancellation fee will
be refunded upon receipt of
written cancellation received by                                              PAYMENT INFORMATION
May 8, 2006. After this date, no
refunds, but substitution of                                        * Credit Card Registrations may be faxed or e-mailed
attendees for this program will
be permitted. Registrants not         K     Check enclosed payable to:
entitled to a refund will receive           The Center for American and International Law
the course materials. Email:
cburkel@cailaw.org.                   Credit Card: K Mastercard             K VISA        K AMEX              K Discover
HOUSING: The cost of housing is
                                      Card number _____________________________________________________________________
not included in the tuition.
However, rooms (in limited num-       Expiration date ____________________________________________________________________
ber) have been reserved at the
Embassy Suites, 7600
John Q Hammons Drive,                 Name on card _____________________________________________________________________
Frisco, TX 75034. Registrants
should contact Embassy Suites at      Billing address (if different than above address)
972-712-7200 and advise them
that you are registering for the
CAIL Program(s). A reduced room       ________________________________________________________________________________
rate of $129.00 is available if you
advise the hotel that you are         ________________________________________________________________________________
attending this program. The last
day to obtain this special rate is
                                      ________________________________________________________________________________
April 25, 2006. Transportation to
and from the Center based upon
availability. For your convenience,   Signature ________________________________________________________________________
you may wish to consider renting a                                             WEB
car. Information about additional
Plano hotels is available on our      DIRECTIONS TO THE CENTER FOR AMERICAN AND INTERNATIONAL LAW
website at www.cailaw.org.            For a detailed map and directions, please visit www.cailaw.org or call 972.244.3400.
                     WILLS, TRUSTS AND ESTATE PLANNING                                          Nonprofit
                                                                                              Organization
                                                                                              U. S. Postage
                     THE CENTER FOR AMERICAN
                     AND INTERNATIONAL LAW                                                        PAID
                     5201 DEMOCRACY DRIVE                                                    Permit No. 3778
                                                                                              Dallas, Texas
                     PLANO, TX USA 75024


PLEASE NOTE: The Center for American
and International Law utilizes outside mail-
ing lists. If you receive a duplicate of this
announcement, please pass it along to an
interested colleague.




             After more than a quarter
             century, Stanley Johanson
             will chair the May 16-18
             Course on Estate Planning for
             the last time. He will also be
             our “roastee” at dinner on
             May 18 and the featured
             luncheon speaker on May 19.



                              SEE INSIDE FOR PROGRAM HIGHLIGHTS


                                                                   “Best course I have ever attended as far as
                          ESTATE PLANNING                          giving practical information.”
                                 May 16-18, 2006
                                                                   “..The finest group of lecturers of any estate
                                                                   planning seminar I have ever attended.
                               BANQUET WITH                        Meeting facility and classroom superb.”

                              PROF. JOHANSON
                      Thursday Evening, May 18, 2006
                                                                                   — Former Estate Planning
                                                                                     Program Attendees


                                    the 44th Advanced Program on   “The topics were cutting edge and very
                                                                   practical.”
                     WILLS, TRUSTS AND                             “Both presentation and materials were
                      ESTATE PLANNING                              outstanding.”
                                                May 19, 2006             — Former Wills, Trusts and
                                                 Plano, Texas            Estate Planning Program Attendees



Includes 3 total hours of Ethics CLE                               Register TODAY ... www.cailaw.org

								
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