Update from the Non-Tax Estate Planning Considerations Group

The Non-Tax Estate Planning Considerations Group published an update about what they have accomplished recently and plan to accomplish with the start of the new year. 

Asset Protection Planning Committee: In November 2011, this group sponsored a free teleconference that discussed the Mortensen case and a summary of the In re Porco case and the teleconference was ewll attended. They are also set to co-sponsor a program with the Business Planning Group at the RPTE Spring Symposia in May 2012. The program will address issues involved with transferring business entity interest into asset protection trusts. 

Uniform Acts for Trust and Estate Law Committee: This committee is planning a teleconference call on the Uniform Powers of Appointment Act. The teleconference will be in late February or early March. 

Economics and Technology of the Practice Committee: This committee has been involved in the recent changes to the RPTE Section’s website. At the RPTE spring symposia, they will be presenting on estate planning in the digital era. 

Non-Tax Issues Affecting the Planning and Administration of Estates and Trusts Committee: This group does quarterly committee calls and the next one will be at 12:00 p.m. on February 29th. The committee also presented a CLE in December 2011 entitled “Our Bologna has a First Name – Hot Topics For the Sandwich Generation.”

Insurance and Financial Planning Committee: The ABA Task Force on Policy Valuation will review whether the current tax regulations concerning policy valuation are adequate. The Task Force is currently working on investigating “safe harbor” rules. They want to create a White Paper that could recommend “safe harbors” to value renewable level term and no lapse guarantee universal life policies. 

See The Non-Tax Estate Planning Considerations Group, ABA eReport, Dec. 2011.