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Continuing Education Credits Pending Approval

Thursday, October 7
Opening Keynote with Dr. Gerry W. Beyer, Texas Tech University School of Law
11:00am-12:30pmBreakout Sessions
Cryptocurrency Panel with Leigh Wasson, BNY Mellon
Session Description To Come.
Tax Considerations Estate Planners Should Know But Don't Think About Every Day with Henna Shah, J.D., LL.M, CEO, WealthCounsel
Attorneys beware! There are a host of tax issues outside of transfer taxes that you need to keep in mind as you implement even common estate planning strategies. In this presentation, we will look at some important rules, traps for the unwary, and planning opportunities that all estate planners should be thinking about in conjunction with their clients' estate plans.
Domestic Cross-Border Estate Planning with Laurelle M. Guiterrez, Partner, McDermott Will & Emery LLP
Session Description To Come.
Foreign Investment in U.S. Real Estate: Tax Concerns When Acquiring or Disposing of Ownership Interests with CeCe Hassan, Partner, Hassan International Law PLLC
The U.S. federal tax rules governing investment in U.S. real estate by foreign individuals and companies are intricate; the 2017 tax reform impacted the implication of these rules, COVID impacted the practical implication of a number of rule, and the possibility of a forthcoming US federal tax reform has further impacted planning today. Counsel must be conversant with existing tax law as well as the current rules impacting foreign investment.

FIRPTA taxes foreign individuals and corporations on their dispositions (transfers, sales, gifts, exchanges) of U.S. real property interests, and in addition generally imposes reporting and withholding. Tax treatment varies with the form of ownership. The reduction of the corporate tax rate from 35 percent to 21 percent will influence the choice of investment vehicle (in addition to any State level taxes that apply at the corporate level), as will new carried interest rules, new NOL limitations, limitations on interest expense, and depreciation.

Our panel will examine tax challenges and practical implications for foreign investors in U.S. real estate. The panel will discuss the tax advantages of blocker companies, choice of investment structure, and other investment vehicles, and other matters.

We will review these and other crucial issues:
• What are the tax implications of purchasing U.S. real estate individually vs. through an LLC vs. a blocker corporation or a trust?
• What are the tax reporting obligations for non-U.S. owners of U.S. real estate?
• How does FIRPTA compliance vary between different ownership structures?
• How did the 2017 tax law and COVID -19 impact approaches to foreign investment in U.S. real estate?
Session To Be Announced with Speaker TBA
Session Description To Come.
12:30pm– 2:00pmLunch Break
2:00pm–3:30pmBreakout Sessions
Income Taxation of Cryptocurrency – An Update for Estate Planners with Annette Nellen, CPA, Esq. Professor, San Jose State University and David Sacarellos CPA, CGMA, Tax Partner, Selier LLP
Ownership and usage of cryptocurrency is becoming more common today as there are an increasing number of ways to acquire it. Questions need to be asked of clients by tax professionals to be sure compliance and planning is addressed. This presentation will provide the basics on cryptocurrency operation, income tax guidance from the IRS, open tax issues, unique California tax issues, compliance considerations, and income and estate planning matters. Newer issues involving tokens including non-fungible tokens will also be addressed.
Tread Lightly: Ethical Considerations for the Trust Administration Intake and Engagement Process with Yvonne Eckert , VP, Practice Success, WealthCounsel
It can be an ethical landmine when a revocable trust matures and requires administration by someone other than the original grantor. This session will cover ethical considerations in the following areas: conducting the intake and engagement meeting, identifying the client, defining the scope of representation, drafting the engagement letter, obtaining waivers, counseling multiple fiduciaries, and communicating with non-clients.
Donating Capital Assets with Ted Hart, ACFRE, CAP®, President and CEO of CAF America and CAF Canada and Megan R. Worrell, Managing Director, J.P. Morgan Private Bank
Session Description To Come.
Saving Taxes on Real Property After Prop 19: Why LLCs, LPs and Joint Tenancies Now Must Be Kept As the Sharpest Tools in the Toolbox For Tax Planners Dealing With Clients With Real Property with Brian Shetler, Partner, Berliner Cohen
After Prop 19, tax planning for property taxes and other local taxes now must include consideration of the use of limited liability companies (LLCs), limited partnerships (LPs) and joint tenancies with rights of survivorship for any estates that include real property. Prop 19 has essentially repealed the parent-child exclusion and grandparent-grandchild exclusion from reassessment. In addition, a limitation on the deductibility of state and local taxes on real property in the 2017 Tax Act inspired California to pass a workaround (AB 150) that encourages entity ownership of California real property and provides a non-property tax reason to form such entities and avoid the step-transaction rules. This necessitates a look at entity planning or at least joint tenancy planning as workarounds for passing real property without reassessment (and maximizing federal deductions). This program will cover not just the “why do it” but also some specifics on “how to do it” for planning professionals to help them sharpen these tools in their toolbox.
Session To Be Announced with Speaker TBA
Session Description to Come.

Friday, October 8
9:00am–10:30amGeneral Session — California Update with Vivian L. Thoreen, Executive Partner, Holland & Knight LLP and Patrick Kohlmann, Managing Partner, Temmerman, Cilley & Kohlmann, LLP
Session Description To Come.
11:00am–12:30pmBreakout Sessions
Current Federal Tax Developments with John W. Prokey, Partner, Ramsbacher, Prokey, Leonard LLP and Michael J. Jones, CPA, Thompson Jones LLP
Session Description To Come.
Life Insurance with Jeff Ostrum, Managing Principal, Palo Alto, Financial Architects Partners and Joseph Bragdon, CFA, Vice President, Financial Architects Partners
Session Description To Come.
Estate Planning During Covid with Karen Boxx, Professor, University of Washington School of Law; Patricia Cain, Professor, Santa Clara University School of Law; and Darin Donovan, Shareholder, Hopkins & Carley I A Law Corporation
Session Description To Come.
Collecting Fees in Trust & Estate Litigation with Jim Cummins, Principal, Barulich Dugoni & Suttman Law Group, Inc.; Ryan D. Cunningham, Hopkins & Carley I A Law Corporation; and Scott Fraser, Crist I Biorn I Shepherd I Roskoph APC
Session Description To Come.
Income Tax Deferral for Taxpayers Who Anticipate Selling Appreciated Assets While Living with Jerome M. Hesch, Adjunct Professor of Law, Florida International University and Boston University
Individuals who anticipate selling appreciated assets while living cannot take advantage of the step-up in basis at death. Several income tax techniques allow the gain realized upon the sale of an asset for cash to be deferred if the income tax rules in the Code are followed. Examine how (i) related party installment sales to a non-grantor trust, (ii) contributing appreciated assets to a charitable remainder unitrust, and (iii) charitable gift annuities can be used to defer the reporting of the realized gains. Learn which of these deferral techniques can be used for marketable securities, closely-held business interests and even encumbered real estate with liabilities in excess of tax basis. These planning techniques are illustrated using accounting balance sheets that enable the advisor to describe the technique to their clients in an understandable manner.
12:30pm–1:30pmLunch Break
2:00pm–3:30pmClosing Keynote — Planning in 2021 and Beyond: What Now and What Next? with David A. Handler, P.C., Partner, Kirkland & Ellis LLP and Paul S. Lee, Chief Tax Strategist I Senior Vice President I Managing Director, Wealth Management and Global Family & Investment Offices Group, Northern Trust
Session Description To Come.CC

October 7 - 8, 2021 | A Virtual Event

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