This week, I’m in Louisville, Kentucky, for the Academy’s Spring Summit event! I’m looking forward to seeing all my Academy friends there. I interact with Members every day, but my opportunity to see them in person is at the Academy events.
In addition to numerous meetings, I’ll be giving two presentations, Powers of Appointment and The Trust Protector: What One Is and Why They Are Important. The first examines the use of Trust Protectors and how they can add flexibility to a document. I’ll look at the various powers of a Trust Protector and how they may be used in practical everyday circumstances. The second presentation looks at powers of appointment and how they can be extremely useful in estate planning and elder law. I’ll detail the varied uses and consequences of limited and general powers of appointment. For example, a testamentary limited power of appointment may be useful in a trust used for elder law planning. That power can cause inclusion in the grantor’s estate (and a step-up in income tax basis) without giving rise to a Medicaid lien.
In addition to my presentations, I’m looking forward to seeing many of the other presentations, including that of the keynote speaker, Curt Steinhorst, speaking on Crossing the Generational Divide, and two presentations by Jim McCauley, the Ethics Counsel for the Commonwealth of Virginia. Jim will be presenting Confidential Client Information: When Are Secrets Not Secret? and Ethical Considerations in Cloud Computing.
Conferences like the Academy’s Spring Summit are a great way to learn, both in the sessions and from other Members. Next week, I’ll discuss how the Academy’s monthly “Classroom Conference Calls” add a great way to learn between the semi-annual conferences.
Stephen C. Hartnett, J.D., LL.M.
Associate Director of Education
American Academy of Estate Planning Attorneys, Inc.
9444 Balboa Avenue, Suite 300
San Diego, California 92123
Phone: (800) 846-1555
www.aaepa.com
- The Magic of Grantor Trusts - September 19, 2023
- IRS Confirms Grantor Trust Status Alone Does Not Cause a Step-Up in Basis - August 15, 2023
- Double Your Gifting with Spousal Gift-Splitting - January 11, 2022
