How to Not Fund a Testamentary Trust
THURSDAY, FEBRUARY 7, 2019
AT CAMPBELL CENTRE
(8250 N. Central Expressway, Dallas, 75206)
(lunch served noon-12:30 p.m.; program 12:30-1:30 p.m.)
RESERVATION DEADLINE: WEDNESDAY, JANUARY 30 (5:00 P.M.)
(PAYMENT MUST BE RECEIVED BY JANUARY 30, 5:00 P.M. TO GUARANTEE A MEAL)
HOW TO NOT FUND A TESTAMENTARY TRUST
Sponsored by CliftonLarsonAllen and Frost Bank
Changes in the tax law and family circumstances can mean that it is no longer desirable to fund a testamentary trust. For example, saving estate taxes using a Family Trust or Bypass Trust is no longer a concern for most families since the estate tax free amount is so high that the family will not owe estate taxes. Funding a Family Trust for one of these families thus serves no estate tax savings purpose, but rather can cause capital gains tax harm since assets in a Family Trust receive no step up in basis for capital gains tax purposes at the time the surviving spouse passes away. This presentation will discuss considerations and methods in not funding a testamentary trust, including using a distribution agreement, a family settlement agreement, a court order, or a private letter ruling. Michele A. Mobley practices in the area of estate planning. She received her B.A. degree, with honors, from Texas A&M University and her J.D. degree, with honors, from Duke University. She has been selected by her peers as a Best Lawyers in America, and as a Texas Super Lawyer in the area of estate planning and probate. Her practice encompasses a wide range of estate planning subjects, such as will drafting, trust drafting, estate and trust administration, estate tax, fiduciary income tax, business succession planning, charitable planning, advising non-profits, and fiduciary litigation for both plaintiffs and defendants. She has spoken to varied audiences on the subjects of limited liability companies, family limited partnerships, estate planning for the family business owner, planned giving techniques, donor advised funds, legal issues fund raisers face and planning for retirement assets, and executive compensation.
There is continuing ed credit pending for this presentation. The program handouts are paperless. The handout will be available to download on the website (Document Library) a few days prior to each meeting. YOU may print the handout if you prefer to have a handout at the meeting.
Note: Paid membership dues do not include meals. To register for the meeting, complete the form below, enclose a check (payable to Dallas Estate Planning Council) for the respective amount (indicated below) and mail to: Dallas Estate Planning Council, P.O. Box 38553, Dallas, TX 75238-8553. You may register online with a credit card payment on the website: scroll down to the bottom of the page and register. LOG IN IS NOT REQUIRED TO REGISTER. If you need a receipt, print out the confirmation page.
PREPAID MEALS: Members who have already paid in advance for all meetings for the year MUST register so we will have a count for the number of meals to prepare. PREPAID MEMBERS MUST REGISTER ON THE WEBSITE BY THE DEADLINE - scroll down to the bottom of the page and register.
THERE WILL BE 10 MEALS AVAILABLE FOR WALK-INS ON DAY OF MEETING (FIRST COME, FIRST SERVE). ALL OTHER WALK-INS WILL BE “PROGRAM ONLY”. CREDIT CARDS ARE NOT ACCEPTED AT THE DOOR, CASH OR CHECK ONLY. Member: $37 (includes meal and program); Guest: $60 (includes meal and program);*Member-Program Only: $25 (*ONLY MEMBERS may choose “program only” for $25; $20 - GUEST - Emerging Professionals – FIRST MEETING (includes meal/program-MUST be 40 years of age or younger or less than 5 years in respective discipline – MUST REGISTER BY THE DEADLINE)
____$37 ___$60____$25 (Member-Program Only) ____$20 (GUEST EP-First Meeting - SEE RESTRICTIONS)
Phone No: _____________________________________
WE WOULD LIKE TO THANK OUR MEETING SPONSORS: ARMANINO LLP, BESSEMER TRUST COMPANY, CLIFTON LARSEN ALLEN, COMMUNITIES FOUNDATION OF TEXAS, TEXAS WOMEN’S FOUNDATION, FROST BANK, HIGHGROUND ADVISORS, JACKSON, WALKER,, MERRILL LYNCH – MAYNARD GROUP, PARKLAND FOUNDATION, QUEST CAPITAL MANAGEMENT, THE CATHOLIC FOUNDATION AND TOLLESON WEALTH MANAGEMENT. IT IS THE SPONSORS WHO MAKE POSSIBLE THE SOCIAL EVENTS AND PROVIDING EXCELLENT SPEAKERS.IN ADDITION, WE WOULD LIKE TO RECOGNIZE THE PATRONS: ALTAVIEW ADVISORS, BISIGNANO HARRISON & NEUHOFF, CROCKETT, MCBRIDE & ASSOCIATES, DAVIS STEPHENSON, GLAST, PHILLIPS & MURRAY, GOLDIN PEISER & PEISER, PLAINSCAPITAL BANK, SIGNET ART AND THE CATHOLIC FOUNDATION. THE PATRON PROGRAM PROVIDES ADDITIONAL FUNDS TO SUPPORT THE COUNCIL’S ACTIVITIES.