Meeting the Next Level in Minneapolis

The American Academy of Estate Planning Attorneys (the “Academy”) held its annual Spring Summit in Minneapolis, Minnesota. Minnesota boasts more Fortune 500 Companies per capita than any other state in the nation along with 10,000 lakes. When I deplaned in Minneapolis, I could tell that this Summit would be different from the others. I was not wrong. It began with the unique hotel whose lobby was on the fifth floor. It took some fancy footwork at first, but by the end of the weekend, it seemed normal. As usual, within hours of my arrival, I had already encountered several Members, all of whom were excited to be there and equally excited about giving and receiving hugs. I love that our Members love to give and receive hugs! Even though I’m away from home, every time I am with our Members, it feels like a different home. It evokes those feelings of belonging and happiness and being your best self. I may live with my family in Florida, but I belong with the Academy and they with me.

Academy founders, Robert Armstrong and Sanford M. Fisch, opened the conference by talking about new beginnings and endings. In particular, this Summit marked the end of an era for one of the Academy’s own. We bid a Happy Retirement to the Director of Education, Steve Hartnett. During his twenty-three years with the Academy, Steve has mentored most, if not all, Members. I have lost track of the times that a Member has said to me “Steve said” and then proceeded to quote some provision of the Internal Revenue Code or Treasury Regulations. My favorite times with Steve have been competing for the “nerd award.” Steve has had a profound effect on our Members, the Academy Staff, and me. His calm, patient demeanor has guided many a Member through some of their most complex and convoluted issues. He shared his wisdom willingly and never shied away from a debate (GRATs versus IDGTs anyone?). Steve went above and beyond in his devotion to the Academy and its Members and set the bar incredibly high. I am lucky to call him a mentor and my dear friend. He has taught me so much and he has enriched the lives of our Members, the Academy, and me. Steve embodies all that the Academy holds dear. I will miss him immensely as will all of our Members as was evidenced by the outpouring of love and gratitude that they gave him during Member Roll Call.

Our keynote speaker, Mark Scharenbroich, started his talk suggesting that each of us should aspire to leave a legacy like Steve; that to have a room full of people speak so highly and warmly about you is a testament to the lasting impact that you have had. He said many times during his presentation that he had never heard such an outpouring of love for one person as he did for Steve that afternoon. He was the perfect keynote speaker for this Summit as was evident by the many times that he tied his message of “acknowledge, honor, and connect” to what our Members did by telling Steve the impact that he’d had. Mark then transitioned to the importance of core-values. Here at the Academy, we strive to embody our core values daily: we are an “A” Team; we take the high road; our Members’ success is our success, and we learn, innovate, inspire, and share. We encourage our Members to create their own core values and it’s clear that they do. Mark’s message about being fully present in the lives of others, striving to create incredible experiences for others, and connecting with others on a personal level embodies the Academy and its Members beautifully. Day one ended with our traditional cocktail party. Spirits were slightly subdued as the reality set in that this would be Steve’s last “official” Summit.

As is our tradition, after day one, we set our sights on education. The Academy requires its Members to earn 36 hours of continuing legal education (“CLE”) in Estate Planning, Tax, Elder Law, and Ethics. The Academy’s rigorous continuing education requirement ensures its Members know and understand the latest developments in these fields. Many Members earn significant hours at the two semi-annual Summit conferences each year at which they can create their ideal schedule by choosing sessions on marketing, practice management, technology, or education.

I kicked off day two discussing the Academy’s newly created Dementia Directive. As the Alzheimer’s crisis continues to grow, we decided that we could fill a gap by creating a document that allows clients to leave detailed instructions for their families, loved ones, and caregivers regarding what they want to happen should they receive a diagnosis of dementia. It was an emotionally heavy, but fitting, start to the day, especially considering the Academy’s Walk to End Alzheimer’s “Rookie of the Year” status. Steve then took the stage for his first session focusing on Estate Planning in a high interest rate environment. As always, Steve wowed us with his talent for breaking down complex concepts into digestible chunks. He makes the hard stuff look easy. Members spent the remainder of day two focusing on practice management and technology, ending the day with a sightseeing tour of the Twin Cities.

Day three began with Dale Krause educating us on leveraging Medicaid Annuities in crisis planning. Dale presents his material in a straightforward manner which our Members appreciate. It’s clear to anyone listening that he has years of practical experience in the area and shares his knowledge willingly. Later that same day, Lisa Vandesteeg and Kathyrn Nadro gave us a talk focused on the ethics of cybersecurity. Our Members flock to sessions focused on ethics and found the talk entertaining and informative. Many members indicated that they appreciated the actionable items that the speakers discussed. Day three ended with our Saturday Night Roundtable during which Members shared their tips and tricks for building and creating an engaging office culture.

As is only fitting, Steve Hartnett closed out his prolific Academy career with his beloved “Quiz Show.” He sets up several real-life scenarios and asks Members to choose which of several options represents the answer or best plan for the fact pattern presented. He will be a hard act to follow and ended as only he would, by putting on rose-colored glasses and receiving a standing ovation. His insight, patience, and brilliance will be missed. I ended the conference with a talk on the Corporate Transparency Act which requires all Reporting Companies to file Beneficial Ownership Information reports with the Financial Crimes Enforcement Network (“FinCEN”) disclosing its beneficial owners. If the Reporting Company was formed after January 1, 2024, then the Reporting Company has 90 days to file its first report. If it was formed before January 1, 2024, then the Reporting Company has until January 1, 2025, to file its first report.

Spring Summit 2024 was bittersweet and reminded us all that change, while inevitable, also brings new opportunities. This Summit demonstrated that more than any other. The Academy ushered in the new Academy Wealth which will allow our Members to provide additional services to their clients. The Academy bid farewell to a beloved friend and trusted advisor, Steve. As our keynote speaker reminded us, if our Members live what they did for Steve for their clients, they, too, will form lasting connections with their clients. When it comes to leaving your legacy, wouldn’t you prefer to have someone who knows how to do that and has vast resources at their disposal? Academy Members have all that and more and learn and reinforce those lessons at each Summit.

Tereina Stidd, 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: (858) 453-2128
www.aaepa.com