Estate Tax Going Blindly Where No One Else

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					                           ALI-ABA Course of Study
                      Advanced Estate Planning Techniques
                               February 18 - 20, 2010
                                   Maui, Hawaii


                             TABLE OF CONTENTS
                                                                                 Page
PROGRAM                                                                            ix
FACULTY PARTICIPANTS                                                               xi

STUDY MATERIALS
1. The Impact of Estate Tax Repeal — Going Blindly Where No One Else Has           1
   Gone Before
   By Ronald D. Aucutt, Milford B. Hatcher, Jr., Charles D. Fox IV, and
   Diana S.C. Zeydel
2. Significant Nontax Estate Planning Issues                                      51
   By Jeffrey N. Pennell
3. Funding Estate Tax Liabilities: Exploring Graegin, § 6166, and § 6161          89
   By Stephanie Loomis-Price
       Table of Contents                                                          91
       Study Material                                                             93
       Appendix A: Brute Force Method of Determing Graegin Loan Deduction
       Amount                                                                    122
       Appendix B: Calculation of Potential Tax Savings Arising From Five Year
       Graegin                                                                   123
4. A Potpourri of Charitable Planning Tricks and Traps                           125
   By Lawrence P. Katzenstein
       Table of Contents                                                         127
       Study Material                                                            129
5. Developments Involving Grantor Trusts                                         195
   By Jeanne Newlon
       Table of Contents                                                         197
       Study Material                                                            199
6. It’s Not Your Father’s Buick, Anymore: Estate Planning for the Next           241
   Generation(s) of Clients
   By Jeffrey N. Pennell
7. Special Challenges and Opportunities in Estate Planning for the Passage       303
   of Wealth to Relatives (Other than Spouses and Descendants), Friends,
   Employees, and Non-Marital Life Partners
   By Nancy G. Henderson
       Table of Contents                                                         305
       Study Material                                                            307

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8. Preparing Fiduciaries for Battle (Including Privilege and Work-Product     355
   Issues)
   By Stephanie Loomis-Price
        Table of Contents                                                     357
        Study Material                                                        359
        Exhibit: Gift Tax Return Audit Form                                   379
9. Planning Precedent to Liquidity Events                                     387
   By Farhad Aghdami
       Study Material                                                         389
       Presentation Slides                                                    484
10. Getting Money Out of the Family Business                                  507
    By Farhad Aghdami
        Study Material                                                        509
        Schedule 1                                                            599
        Schedule 2-B                                                          600
        Schedule 3                                                            601
        Presentation Slides                                                   602
11. State Income Taxation of Trusts                                           621
    By Jeanne Newlon
        Table of Contents                                                     622
        Study Material                                                        623
12. Estate and Income Tax Planning for the Passage of Family Homes Using      641
    QPRTs, Split Interest Purchases, Family LLCs, Dynasty Trusts,
    Conservation Easements and Other Strategies (Including a Discussion of
    Non-Tax Consideration)
    By Nancy G. Henderson
        Table of Contents                                                     643
        Study Material                                                        645
        Attachment A: Sample Tenancy in Common Agreement                      707
        Attachment B: Property Management Agreement                           724
        Attachment C: Rev. Proc. 2003-42, 2003-23 I.R.B. 993 (June 9, 2003)
        (IRS Sample QPRT Form)                                                734
        Attachment D: Sample Full Form QRPT                                   745
        Attachment D-1: Sample Trust for Children Created at end of QPRT
        Term                                                                  788
        Attachment D-2: Sample Trust for Descendants Created at End of QRPT
        Term                                                                  792
        Attachment E: Sample Deed of Conservation Easement                    795
13. Current Wealth Transfer Tax Developments-supplemental material            803
    By Joy M. Miyasaki
14. State Income Taxation of Trusts-supplemental material                     901
    By Jeanne Newlon



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                            ALI-ABA Course of Study
                       Advanced Estate Planning Techniques

                                February 18-20, 2010
                                   Maui, Hawaii

PROGRAM

Thursday, February 18, 2010
 6:30 a.m.   Registration and Full American Breakfast
 7:25 a.m.  Opening Remarks
Webcast Segment A
 7:30 a.m.   Current Wealth Transfer Tax Developments – Ms. Miyasaki
 8:30 a.m.   What Should Taxpayers Do About Repeal – Ms. Miyasaki, Mr.
             Katzenstein, and Professor Pennell
 9:00 a.m.  State Law and Nontax Developments of Universal Interest to Estate
            Planners – Professor Pennell
10:00 a.m.  Graegin Loans and §6166 – Ms. Loomis-Price
11:00 a.m.  Networking Break
11:15 a.m.  Charitable Planning Update (Part 1) – Mr. Katzenstein
12:00 noon Developments Involving Grantor Trusts – Ms. Newlon
 1:00 p.m.   Questions and Answers
 1:30 p.m.   Adjournment for the Day

Friday, February 19, 2010
 6:30 a.m.   Full American Breakfast
Webcast Segment B
 7:30 a.m.   Estate Planning for the Next Generation(s) of Clients – Professor
             Pennell
 8:30 a.m.   Nonmarital Planning NOT for Descendants (including but not limited
             to same sex couples) – Ms. Henderson
 9:30 a.m.   Charitable Planning Update (Part 2) – Mr. Katzenstein
10:30 a.m.   Networking Break
10:45 a.m.   Preparing Fiduciaries for Battle (including privilege and work-
             product issues) – Ms. Loomis-Price
11:45 a.m.   Planning Precedent to a Liquidity Event – Mr. Aghdami
12:45 p.m.   Questions and Answers
 1:30 p.m.   Adjournment for the Day

Saturday, February 20, 2010
 6:30 a.m.   Full American Breakfast
Webcast Segment C
 7:30 a.m.   Ethics for Estate Planners – Ms. Miyasaki
 8:30 a.m.   Getting Money Out of the Family Business – Mr. Aghdami
 9:30 a.m.   Networking Break
 9:45 a.m.   State Income Taxation of Trusts and Estates – Ms. Newlon
10:45 a.m.   Estate Planning for Second Homes – Ms. Henderson
11:45 a.m.   Networking Break
12:30 p.m.   Adjournment

Total 60-minute hours of instruction: 16.25, including 1 hour of ethics
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                               ALI-ABA Course of Study
                          Advanced Estate Planning Techniques

                                   February 18-20, 2010
                                      Maui, Hawaii


                                   PLANNING CHAIRS

Lawrence P. Katzenstein, Esquire                Professor Jeffrey N. Pennell
Thompson Coburn LLP                             Richard H. Clark Professor of Law
Suite 3400                                      Emory University School of Law
One US Bank Plaza                               Gambrell Hall
505 N. 7th Street                               1301 Clifton Road, NE
St. Louis, MO 63101                             Atlanta, GA 30322


                                        FACULTY

Farhad Aghdami, Esquire                         Joy M. Miyasaki, Esquire
Williams Mullen A Professional                  Law Offices of Shuichi Miyasaki
Corporation                                     American Savings Bank
Two James Center                                Suite 1030
P. O. Box 1320                                  1001 Bishop Street
Richmond, VA 23218                              Honolulu, HI 96813

Nancy G. Henderson, Esquire                     Jeanne L. Newlon, Esquire
Henderson, Caverly, Pum & Charney LLP           Venable LLP
P.O. Box 9144                                   575 7th Street, NW
Suite 4-13                                      Washington, DC 20004
16236 San Dieguito Road
Rancho Santa Fe, CA 92067

Stephanie Loomis-Price, Esquire
Baker Botts L.L.P.
One Shell Plaza
910 Louisiana
Houston, TX 77002



Please go to www.ali-aba.org/cr038 for biographical information about this faculty




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