I.R.S. Pushes Taxpayers:
Taxpayers Push Back

featuring Roy M. Adams & Eileen B. Trost
  
Thursday, September 11, 2008   9 am - 4 pm
Register today for the FREE seminar

to be held at LincolnLand Community College
5250 Shepherd Road
Springfield, Illinois

The Springfield Salvation Army along with our host Lincoln Land Community College Foundation will present a free web-cast of a live seminar for estate planning professionals at the Trutter Center at LLCC.

Featured speakers will be ROY M. ADAMS, managing member of Roy M. Adams & Associates PLLC, and a partner of Constantine/Cannon LLP.  He conducts and extensive national and international practice in the areas of estate and tax planning and administration and is Professor Emeritus of Estate Planning and Taxation at Northwestern University School of Law.  He will be joined by EILEEN B. TROST is a partner at Bell, Boyd & Lloyd LLP in the firm’s Estates and Trusts Group. She concentrates her practice in estate planning, trust and estate administration and related income tax issues. She has extensive experience on all aspects of estate, gift, generation-skipping and personal income tax planning. This experience includes estate and income taxation of distributions from retirement plans, the use of disclaimers for post-mortem tax planning, estate planning for international clients and sophisticated estate plan drafting.

This FREE, live event is open to attorneys, certified public accountants, financial planners, chartered life underwriters and other investment professionals.    A Free lunch is included.

Deadline to register is Wednesday, September 4th.  Use the form below to register.

IL has been approved for 6.75 general CLE hours and still waiting for the ethics to come thru.
(probably will be 1 hr.)

Insurance credits for both Iowa and IL have been applied for and is pending.

CFP and CTFA credits are pending.

CPE credits have been approved for 7 tax hours and 1 hr. regulatory ethics.

GENERAL INFO & AGENDA

Everything an estate planner does is almost universally driven by tax considerations and some very important non- tax objectives. Balancing the two is an art. Every recommendation made, and every recommendation not made, both combine to measure the caliber and completeness of advice. Recent developments flow like a waterfall from
multiple sources both Federal and state. Staying on top of what is going on, particularly change, is a must.

Ethics Session
9:00 – 10:00 AM Roy M. Adams
Ethics continue to develop, like family limited
partnerships, from bad facts:
- Drafting attorneys found liable for a development which occurred after completing an estate plan.
- Trustees are innocent from accusations that they harmed trust beneficiaries.
- Yes, you can be held responsible for a party whom you
did not represent directly.
- Are we responsible for not anticipating future events?
- Severe penalty provisions for those who prepare tax returns,
including transfer tax returns.
- Ethical issues with Retirement Benefit Plan Administrators,
the so-called, "Until Implemented Rule."

Session I
10:00 – 12:00 PM Roy M. Adams
The Flow of Change and its Impact:
From regulations, letter rulings, technical advice memoranda,
statutes, Federal and state court decisions including the United
States Supreme Court, come massive alterations in the
law.

Lunch
12:00 – 12:45 PM

Session II
12:50 – 3:00 PM Eileen B. Trost
A Real World View of Estate Planning for
Retirement Benefits:
Planning for retirement benefits is complicated, because it entails income tax, estate tax, and property disposition issues, all at the same time. A considered look at the numbers, to identify what is important and how important it is.

3:00 – 3:45 PM Roy M. Adams & Eileen B. Trost
Worrisome Issues in Planning for Retirements
Benefits:
Roy M. Adams & Eileen B. Trost will discuss retirement benefits. Topics include:
- Estate tax reimbursement issues.
- The diminution of income tax deduction for estate taxes paid under IRC Section 691(c).
- Who is the “designated beneficiary” of a trust where there has not been any special planning.
- What if there is no beneficiary designation, or the beneficiary has died?
- What if the beneficiary designation creates unintended tax consequences, or misses a tax planning opportunity?
- Using disclaimers to address tax issues after death.

Question & Answers
3:45 – 4:00 PM Roy M. Adams & Eileen B. Trost