Save the Dates for CNB's Roy Adams Teleconferences

March 11, 2008 – Recent Developments in Estate Planning

It has been said, "Death and taxes are both certain, but death does not occur annually." Change is certain in estate planning and changes in the law can occur at any time. There is also the frequent question of what changes will occur in the next few years with the scheduled repeal of the estate tax. As an estate planning professional, you must stay on top of all of these changes. Your clients depend on it. In this program, Roy Adams and his special guest Ann Burns will cover these and other topics:

• The most current thinking on what will happen to the repeal of the estate tax
• How Congress, the IRS, state legislatures and the courts just cannot keep their hands out of the cookie-jar.
• Why the hangover of the Pension Protection Act of 2006 remains with us.
• The changes that affect the complex area of retirement benefit planning.
• Why changes on tax and non-tax issues must be recognized and addressed.

April 22, 2008 – Life Insurance and Estate Plans- What Has Changed?

Life insurance has always had a part in the estate plan. However, the entire life insurance field has changed from where it was just 10 years ago. The appearance of the new split-dollar regulations, the development of premium financing and the emergence of the senior settlement market for unwanted or unneeded policies, to name just a few, have changed the insurance landscape in the estate planning area. In this program, Roy Adams and his special guest Ann Burns will cover these and other topics:

• How the most common mistakes made with irrevocable life insurance trusts can cause significant practical and legal problems.
• Understanding senior settlements and the malpractice risks associated with not addressing them with clients.
• The options and risks associated with the financing of life insurance premiums.
• How insurance can provide much needed liquidity for an estate.
• Why the use of insurance in a "SNAG" trust (Spousal Non-marital Annual Gift Trust) is an old idea with exciting new variations.

November 18, 2008 – Retirement Benefit Planning-More Complex Than Ever!

Retirement assets are a large part of many estates and it is imperative that we effectively plan for the distribution of these assets during life and at death. The IRS has recently blessed us with more insights into how to obtain a martial deduction when retirement benefits are paid to a trust. That guidance, although helpful, still requires considerable thought and study before a plan is put into action. The ongoing issues related to retirement benefits, such as the realization of income and the application of the transfer tax, push us all to the breaking point. In this program, Roy Adams and his special guest Clary Redd will cover these and other topics:

• Understanding the new IRS guidelines related to retirement planning.
• The opportunities that exist for the rollover of IRAs to spouses and others.
• Guidance on which beneficiaries to use for measuring lives and the rules that now apply.
• How the use of trusts as beneficiaries differs from the use of family members as beneficiaries.
• Why the tax-deferred realization of income is a subtle but necessary part of the process of thinking through beneficiary designations.

December 9, 2008 – Difficulties In Trust Administration – Compelling Developments & Discretionary Concerns for Trustees & Beneficiaries

Today, it is as difficult as it has ever been to draft effective trust documents. The interplay between state and Federal law with respect to a trustee's duties has produced some strange results that are often difficult to follow. Failing to follow a trustee's duties is a sure way to end up in court and in our litigious society that is the last place any trustee wants to be. Also, giving a trustee too much discretion can lead to trouble. For this reason, it is essential that a potential trustee closely review all trust documents before accepting the role of trustee. It has often been said "an ounce of prevention is worth a pound of cure." In this program, Roy Adams and his special guest Ann Burns will cover these and other topics:

• Why following instructions to retain particular assets held in trust has become much harder, if not impossible, to achieve.
• Effective procedures and policies for the exercise of discretion by fiduciaries that are sure to minimize risks.
• How tax clauses, if not properly drawn, can devastate the entire estate plan of the settlor.
• How the ability of beneficiaries and other third parties to rewrite an irrevocable document threaten the stability of any estate plan.
• Why protective planning measures, such as seeking instructions from the court or the consent of beneficiaries, can have serious limitations.
• The most common concerns facing trustees regarding incentive provisions and other supplemental trust language.