The Foundation is pleased to host three free Estate Planning Teleconferences through Cannon Financial Institute. These courses provide up-to-date estate planning information for attorneys, CPA’s and CFP’s. Each program is approved for 2.0 credits for CTFAs and 1.5 credits for attorneys, CPAs and CFPs. These classes are approved for all Cannon designations as well as for CIMA, IRS EA and AIF. The live broadcast courses, which are one hour long, will be held at our office at 541 Loyal Street. We will provide lunch for each participant who attends, so registration will be required.
If you are interested in learning more about the course or wish to be added to an email list regarding these courses, please let us know. The dates and course information are below.
May 19
Trust Administration Challenges Faced by 21st Century Trustees
Trust instruments contain provisions conferring investment and distribution discretion on the Trustee and define the extent of that discretion. The Trustee interpreting and implementing the trust instrument must engage in a delicate balancing of the intentions of the settlor and the current and anticipated future circumstances of the beneficiaries. In this webinar, we will discuss the following important issues that seem to arise with increasing frequency in trust administration:
- Loans to beneficiaries
- Administration of trusts for beneficiaries dealing with addiction
- Balancing investment performance with beneficiaries’ needs
- Steps to mitigate risks
August 18
Tales from the Crypt (Constitution Avenue): IRS Tools and Tactics to Collect a Delinquent Tax Liability
The federal government has overarching powers to collect tax debts that far surpass the collection mechanisms available to ordinary creditors. Knowing what these powers are and how they may be deployed is important not only when embroiled in an audit or collection proceeding,
but also when considering certain fiduciary transactions such as a sale of trust property or a distribution to a beneficiary. In this webinar, we will zero in on the following:
- Estate, gift and income tax liens
- Transferee liability
- Personal liability of fiduciaries
- Tax penalties
November 17
Qualified Retirement Plans and IRAs – Planning Under SECURE 2.0 Act of 2022 and 2024 Final Regulations
Many clients have sizable accumulations in qualified retirement plans and IRAs. This is a unique type of asset that presents potential opportunities and difficulties in the estate planning context. The ultimate beneficial objective is to maintain as much of the plan or IRA intact for as long as possible – in order to maximize income tax deferred investment return – while preserving as much dispositive flexibility as possible. This quest is often elusive. We will address in this webinar the following critical components of this estate planning subspecialty:
- Determining required beginning date, required minimum distributions and designated beneficiaries
- Features of conduit trusts, accumulation trusts and applicable multi-beneficiary trusts
- Powers of appointment and trust modifications (or potential for trust modifications)
- Taking maximum advantage of special rules available only to an employee/participant’s spouse
- Avoiding penalties applicable to qualified plans and IRAs