He will also present selected default rules of Delaware LLCs as well as discuss selected valuation traps and opportunities in LLC operating agreements. Attendees will:

• Review the anatomy of an LLC operating agreement
• Learn selected default provisions in the Delaware LLC law, with a view toward making your own list of default rules for the laws in your jurisdiction
• You will discuss valuation issues lurking in LLC operating agreements
• With a real LLC operating agreement form 

Whether you draft LLC operating agreements or simply review and work with them, you can’t afford to miss this informative and practical webinar!

He will introduce three psychological phenomena (transference, countertransference and triangles) at work in every day estate/charitable planning encounters. He will discuss death anxiety, mortality salience (fear of talking about death) and the 12 distinct fears that clients/donors can have about estate/charitable planning. He will introduce motivational interviewing and appreciative inquiry, which are tools that can assist clients/donors in the planning process.

• Have you ever wondered why people act the way they do in estate planning? 
• Did you know that clients can have as many as 12 distinct fears in estate planning? 
• Do you know the obstacles that stand in the path of a “good estate planning result?”
• Have you ever wondered what clients/donors go through psychologically in estate/charitable planning? 
• Did you know that estate/charitable planners aren’t exempt from the psychological ramifications of discussing death and bring their own baggage into the planning process? 
• Have you been looking for tools and resources that will help you understand clients/donors better and help them conclude their planning? 

This important one to two hour presentation will address all of these burning questions! And, there’s much more! Don’t miss this compelling presentation!

• types of buy-sell agreements.
• advantages and disadvantages of buy-sell agreements.
• possible purposes of buy-sell agreements.
• the importance of coordinating the buy-sell agreement with other contracts and agreements.
• the identity of the proper parties to buy-sell agreements.
• triggering event selection.
• detail the variety of possible responses to the occurrence of a triggering event.
• valuation issues in buy-sell agreements.
• buy-sell agreement funding issues.
• issues pertaining to related properties in buy-sell agreements.
• disability issues in buy-sell agreements.
• special S corporation buy-sell agreement issues.
• miscellaneous drafting pointers.
• ethical issues surrounding the buy-sell agreement representation.

Paul will conduct an in-depth look at the initial planning client interview, principally by directly applying actual quotes from medical textbooks on the initial interview, to provide guidance to estate and financial planners. He also will:

• Compare what goes through the minds of the estate planner and the client during the initial client interview.
• Emphasize the importance of watching the non-verbal communication of clients.
• Discuss selected pointers about types of questions to ask and what types of questions to avoid.
• Lay out some interviewing suggestions to help make your interviews go more smoothly and be more productive.

In this hour long session, Paul will transform how you think about the initial client interview!

Together with practice tips to avoid the problems. It’s based on an article that Paul wrote in the August 2018 issue of Estate Planning. In this 60 minute presentation, Paul will discuss a number of selected drafting errors and explore their root causes, including:

• The overarching importance of respect for drafting as a difficult task.
• The perils of drafting by formula.
• Rushed drafting.
• The disconnect between wordsmithing and real life.
• The old “your forms runneth over” problem.

And many more!!!! 16 valuable and practical practice tips to avoid drafting errors!!!!

One needn’t be a lawyer to benefit from this practical and thought-provoking session!!!!

It covers 38 different estate planning tools and techniques presently in use, from wills to self-cancelling installment note sales to intentionally defective grantor trusts, and all points and acronyms in between! Paul and Ed will analyze each tool and technique with up to the same set of criteria and compare some of them to other tools and techniques to give the practitioner a veritable cheat sheet for quickly considering tools and techniques for clients, including:

• Advantages and disadvantages.
• Assets best suited and ill-suited for the tool
• Need for independent valuation
• Cost and importance of implementation and ongoing administration
• Cash flow requirements of assets used 
• Cash flow requirements of client and client’s spouse and family 
• Estate tax risks, gift tax risks, income tax risks, and consequences
• Clients for whom the tool generally works best and doesn’t work best.
• Whether the tool is “age, interest rate or health sensitive”
• Best recipients of the transfer 
• Asset protection, if any, offered

Session 1 will cover:

• Introduction of tripartite hermeneutic for design of techniques
• Admonition about irrevocable lifetime planning
• Importance of the “fit” and hitting the “sweet spot”
• Difference between “bet to live” and “bet to die” tools
• Wills and Powers of Appointment
• Joint Tenancy with Right of Survivorship
• Pay on Death (POD)/Transfer on Death (TOD) Arrangements
• Direct Gifts, Revocable Trusts, and Portability.

Session 2 will cover:

• Supercharged Credit Shelter Trust℠
• Life Insurance Trusts
• Qualified Personal Residence Trust (QPRT)
• Grantor Retained Interest/Income Trust (GRIT)
• Domestic Asset Protection Trust (DAPT)
• Installment Sale
• Private Annuity
• Self-Cancelling Installment Note (SCIN/DTIN)
• Intentionally Defective Grantor Trusts (IDGT)
• Beneficiary Defective Irrevocable Trusts (BDIT)
• Guarantee or Loan
• Opportunity Shift
• Grantor Retained Annuity Trust (GRAT)
• Installment Sale to IDGT/BDIT
• Family Partnerships/LLCs

Session 3 will cover:

• Inter Vivos QTIP Trusts
• Optimal Basis Irrevocable Trust (OBIT)
• Split Purchase
• Preferred Partnership Freeze
• Spousal Lifetime Access Trust (SLAT)
• Spousal Lifetime Power of Appointment Trust (SPLAT)
• Incomplete Gift non-Grantor Trust (DING/NING)
• Estate Equalization Among Spouses
• Skipping Generations
• Limited Power of Appointment Lid
• Incentive/Disincentive Trusts
• Joint Estate Step-Up Trust (JEST)
• Private Annuity Trusts/Unitrusts
• Gift-Splitting
• Tandem Techniques
• Gift-splitting
• Split Dollar (Loan Regime)

There’s something in this three part series for everyone from the novice estate planner to the most seasoned estate planner. Don’t miss it!!!

Paul will cover planning in a positive light vis-a-vis the real, long-term best interests of the surviving spouse, in both financial and control issues, at all times, i.e., while both spouses are alive, both during the surviving spouse’s overlife as well as the surviving spouse’s estate. In particular, he will discuss:

• After a cautionary word about estate planning paradigms and poor habits, he’ll examine the importance of overlife planning while both spouses are still alive.
• Then he’ll address the practical realities of why many surviving spouses fail to take advantage of making large gifts after the first spouse’s death and whether gifting is even natural.
•  After that, he’ll consider the benefits of lifetime gifting.
• He’ll then dive into the all-important cash flow analysis, and we’ll consider the components of in-flows and out-flows and why value only estate planning often falls short of the mark.
• Paul will examine the various types of spousal bequests, together with the pros and cons of each.
• After that, he’ll consider the marital deduction and the various ways to achieve it.
• Along the way, he’ll address a number of QTIP issues.
• He’ll take up the impact of valuation discounts and premiums on spousal planning.
• He’ll discuss issues that can arise as the surviving spouse ages, including the possible need to discontinue grantor trust status because the income tax was becoming onerous.
• Finally, he’ll discuss issues around the use or lapse of powers of appointment

Each session is approximately 30-45 minutes, so it fills an entire day. The topics for each session are as follows:

• Session 1:  Introduction and Overview of Series; Definition; Basics-View from 30,000 feet; Purposes; Advantages and Disadvantages; Purposes of Buy-Sell Agreements; Alternatives to Buy-Sell Agreements; Types of Buy-Sell Agreements
• Session 2:  Considerations in Agreement Form Selection; Due Diligence; Related and Ancillary Documents; Triggering Events and Responses to Triggering Events
• Session 3: Vexatious Valuation; Schedule A Ostrich Method; Three Appraiser Approach; Valuation Process
• Session 4: Funding/Related Properties; Disability; S Corporation Issues; and Ownership Issues
• Session 5: Ethical Issues in Buy-Sell Agreements
• Session 6: Top 21 Errors that Practitioners Make in Buy-Sell Agreements
• Session 7: Five Examples of Buy-Sell Agreements in Action
• Session 8: Putting it all together-comprehensive review of a hybrid buy-sell agreement; Review/Checklists; Conclusion

The supplemental materials include the buy-sell grid, a buy-sell agreement review checklist, a drafting checklist and a whole hybrid buy-sell agreement.

The Tax Cuts & Jobs Act of 2017 reduced the top corporate rate to 21% and instituted the Section 199A 20% small business deduction, both of which present business owners with an important but difficult choice of entity question: “Is it better to be a C Corporation or a pass-through entity?” In this presentation, Paul will compare the following types of business forms: 

• Sole Proprietorship

• S Corporation

• LLC

• General Partnership

• Limited Partnership

• C Corporation 

On approximately 65 tax and non-tax factors, including:

• Complexity of formation and operation

• Importance of professional maintenance

• Special allocations of items of income, gain, loss, deduction and credit among owners

• Contribution of Property in Exchange for Ownership Interest

• Contribution of Services in Exchange for Ownership Interest
• Eligible Owners

Choice of entity 2019-what’s new to consider? Is there a “Holy Grail” of entity forms? What’s the proper way to approach choice of entity evaluations? Paul will provide answers to these and many other questions during The A-B-(LL)Cs of Choice of Entity-2019 Edition. Don’t miss this presentation!!!

By examining the history of the back-and-forth between taxpayers and the IRS over income shifting, we will gain a clearer idea of what is not possible and what is required to be able to shift income successfully. In this 90 minute presentation, Paul will examine the history of income shifting and will demonstrate that some techniques thought lost long ago are now possible again. During the presentation, Paul will cover income shifting issues, including:

• Grantor trusts.
• Use of graduated tax brackets.
• Use of multiple trusts.
• Family partnerships.
• Below market loans.
• Income shifting through investments.
• Employment.
• Gifts of opportunity.
• Loan guarantees.
• U.S. Savings Bonds.
• Gifts.

Paul will conclude with a recap and summary of the requirements for effective income shifting! Don’t miss this presentation!

By examining the history of the back-and-forth between taxpayers and the IRS over income shifting, we will gain a clearer idea of what is not possible and what is required to be able to shift income successfully. In this 90 minute presentation, Paul will examine the history of income shifting and will demonstrate that some techniques thought lost long ago are now possible again. During the presentation, Paul will cover income shifting issues, including:

• Grantor trusts.
• Use of graduated tax brackets.
• Use of multiple trusts.
• Family partnerships.
• Below market loans.
• Income shifting through investments.
• Employment.
• Gifts of opportunity.
• Loan guarantees.
• U.S. Savings Bonds.
• Gifts.

Paul will conclude with a recap and summary of the requirements for effective income shifting! Don’t miss this presentation!

Or those whose estates are marginally taxable nevertheless have significant charitable intent. In this 90 minute program, Paul will compare and contrast the choices available to the estate planner in 2020, including:

• donor advised funds.
• supporting organizations.
• private foundations.
• non-qualified charitable arrangements.
• the charitable LLC structure, similar to that used in the Chan Zuckerberg Initiative.

Forms and clauses provided. Don’t miss this program!!!

Including several rules that are traps for the unwary. He will discuss a panoply of planning options that powers of appointment open up. From the novice to the experienced estate planner, there’s something in this program for everyone. Paul will cover:

• The big five questions that must be answered when drafting the power of appointment.
• The many characteristics of a power of appointment.
• Planning with upstream powers of appointment.
• The differences between a general power of appointment and the limited, special or nongeneral power of appointment.
• Basis planning with powers of appointment.
• Ways to limit exercise of a general power of appointment.
• The income tax traps and opportunities of powers of appointment.

And much more. Don’t miss this webinar!!!