2003 Estate & Business Planning Program Archives

Thursday, May 15, 2003
  • Timothy L. Moll
    Current Federal Developments Affecting Estate Plans & Estate Planning

    A survey of many significant federal developments relating to estate planning and how they pertain to Nebraska practice.
  • Riko E. Bishop
    'Til Death Do Us Part...But How Much Do I Get?

    A look at premarital and postnuptial agreements and their impact upon divorce or death. A scrap of paper premarital agreement cost Steven Spielbert $100 million. One agreement that was done right "limited" Ivana Trump to her $25 million. Let's review Nebraska laws on such agreements and review how to make sure your drafting holds up in court.
  • Mark T. West
    Split Dollar - Yesterday, Today, and Tomorrow

    A look at the impact of Notice 2002-8 and Proposed Regulations on split dollar arrangements. Discussion will include an overview of the Notice and the Proposed Regulations, tips on how to handle existing plans, and designing a split dollar arrangement today.
  • Susan R. Koesters
    Dealing with Revisions to Nebraska's Estate Tax - Should I move to West Virginia?

    Prior to 2003, Nebraska's estate tax was a "pickup" tax based on the maximum federal estate death tax credit. Under the Economic Growth and Tax Relief Reconciliation Act of 2001, the maximum federal estate death tax credit is decreasing, and will be completely eliminated and replaced by a state death tax deduction in 2005. Beginning this year, the Nebraska estate tax will be computed from the old federal estate death tax credit rates. This results in a complicated relationship between state estate taxes and the credit/deduction against the federal estate tax.
  • Todd D. Turner
    Private Foundations: A Review of IRC Chapter 43

    Private Foundations are subject to a complex set of rules intended to prevent abuse of the entity's income tax exempt status. Substantial penalties for non-compliance may be imposed on both the foundation and its directors. This presentation will discuss the basic requirements to attain exempt status and the requirements most likely to be violated through lack of awareness. Several of the requirements specific to community foundations, scholarship foundations, and supporting organizations will also be addressed briefly.
  • Patrick D. Timmer
    Trust Estate Planning Alert: The Nebraska Uniform Trust Code Appears to be on its Way, Here's What You Need to Think About Today

    With the Nebraska Uniform Trust Code likely to become law, practitioners should begin thinking about trust planning issues that it will create. This presentation will overview some of those issues that practitioners need to be considering now, prior to the NUTC's effective date.
  • Alan M. Wood
    Trust Modification and Termination Under the Uniform Trust Code
    Click here to view printed material.

    Sections 410 through 417 of the Uniform Trust Code provide a series of interrelated rules governing when a trust may be terminated or modified by means other than by its express terms. Included within these sections of the UTC are provisions covering modification or termination arising from failure to carry out a material purpose; uneconomical trusts; unanticipated circumstances; the need to modify a trust in order to carry out the settlor's tax objectives or the need to divide or combine one or more trusts.
  • Michele L. Moser
    The Estate and Gift Tax Examination Process: How to Obtain a Closing Letter in Less Than Six Months

    An overview of federal estate and gift tasx returns from the government's perspective. The presentation will include a discussion of the filing process, the changes resulting from centralized filing, errors that may delay the issuance of a closing letter, and common examination issues.
  • Richard A. Leiter & Sandra B. Placzek
    Internet Tax Research
    Click here to view materials.

    Accessing information on the Internet is becoming the norm in many disciplines. This presentation builds on last year's session that discussed tracking proposed legilsation. The focus in this presentation is on finding court decisions and other tax related information on the Internet: How can you use the Internet to help with tax research? What types of legal, tax related information can you find on the Internet? Are there tax resources on the Internet that are particularly helpful? If you find information, how can you tell if it is reliable? This presentation explores these and other issues that arise in connection with doing tax research on the Internet.
Friday, May 16, 2003
  • Dennis W. Collins
    Current Nebraska Decisions and Legislation Affecting Estate Plans and Estate Planning

    A discussion of recent Nebraska Supreme Court decisions. Court of Appeals decisions, and 2002 legislation affecting estate planning, probate, trusts, and property.
  • Lawrence T. Jones
    LTCi (Long Term Care Insurance) Tax Strategies

    This presentation will explore the unique tax treatment of qualified long-term care insurance in a variety of planning scenarios.
  • William J. Lindsay
    Income Taxation of Trusts and Estates - Where the Force Failed Yoda

    Somewhere in a far off galaxy, a long, long time ago, the galactic tax commissioner realized that dead people don't vote. Come with us for a rollicking tour of the eddies and currents of fiduciary income taxation and the final return. Let us go where no estate has gone before.
  • Debra C. Christensen & Bryan E. Slone
    Standards of Practice Before the IRS

    A discussion of the current professional rules applicable to those practicing before the IRS, with an emphasis on recent developments related to IRS Circular 230 and the new IRS Office of Professional Responsibility.
  • C. William Eastwood
    Life After the Perfect Storm - Selling Privately Owned Businesses in Today's Market
    Click here to view printed material.
    Click here to view the Powerpoint slides.

    While the market is sluggish, difficult, and frustrating, businesses are being sole. This presentation will discuss values, financing, and buyers. Knowing how to analyze strengths and weaknesses of a business is critical to providing objective advice on when and how to pursue a sales effort.
  • Lawayne L. Feit
    Who Do You Trust as Trustee - Or Why "Uncle Joe" May Not Be the Best Trustee for Your Client's Trust

    An examination of the selection of a trustee. The presentation will review some of the reasons a client prefers an individual trustee and the problems and pitfalls that may flow from such a choice. The presentation will also cover actions that may need to be taken when these problems arise.
  • William E. Olson, Jr.
    Incentive Trusts: The Voice from Beyond the Grave

    Understanding and drafting trust provisions to motivate, cultivate, and rehbilitate. The use of incentive trusts continues to grow as a result of increasing concern on the part of parents and grandparents that sudden wealth will spoil, and provide disincentives for, prospective beneficiaries.

    Attending this program earns Continuing Education credit as follows:

    CPA Continuing Education Credit: The program has been recommended by the Board of Accountancy for 13 hours credit.

    CFP Credit: Approved for 14 hours.

    Mandatory Credit for Iowa: Accredited under the regulations of the Iowa Supreme Court Commission on CLE for up to 11.5 hours of credit.

    Insurance Continuing Education Credit: Approved for 14 hours' life.