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Description
Thursday, June 6 and Friday, June 7, 2024
iHotel and Conference Center, Champaign and Live Webcast
DAY ONE
Moderated By: Beth K. Flowers, Mathis, Marifian & Richter, LTD., Edwardsville
iHotel and Conference Center, Champaign and Live Webcast
DAY ONE
Moderated By: Beth K. Flowers, Mathis, Marifian & Richter, LTD., Edwardsville
8:00 Registration
or Log in to the webcast via your account at www.iicle.com
8:50 Opening Announcements
9:00 – 11:00
Panel of Current Developments: New Laws, New Regulations and How They Are Practically Applied
SPONSORED BY: MPI
Panel Moderator: Stacy E. Singer, Northern Trust, Chicago
Adam Garber, Levenfeld Pearlstein LLC, Chicago
Karen Van Meter, McDermott Will & Emery LLP, Chicago
Ryan A. Walsh, Croke Fairchild Duarte & Beres LLC, Chicago
11:00 - 11:20 BREAK
11:20 – 12:20
Divorce and Estate Planning
• Premarital and Postmarital Agreements
• Trust Scrutiny in Dissolution of Marriage Proceedings
• Uniform Cohabitants’ Economic Remedies Act
Lorraine Cavataio, Sandberg Phoenix, O’Fallon
T. Ryan Connor, Sandberg Phoenix, Edwardsville
12:20 – 1:20 LUNCH BREAK
1:20 – 2:35
FEATURED PRESENTATION: The Good, the Bad and the Unknown: Exploring the Corporate Transparency Act
SPONSORED BY: OLD SECOND NATIONAL BANK
The federal government has developed yet another tool to help crack down on money laundering and bad actors—this time by documenting who owns and controls closely held companies. Private companies that are accustomed to the privacy that state law has afforded them will now have to provide key information to the federal government about who actually owns and controls the companies, resulting in a first of its kind centralized repository in the United States for information about private entities. This new tool is the Corporate Transparency Act. Join us as we provide an overview of the Corporate Transparency Act and discuss best practices in addressing its requirements with estate planning clients.
Christopher Floss, ArentFox Schiff, LLP., Lake Forest
Caitlin A. Kelly, JP Morgan, Chicago
2:35 - 2:55 BREAK
2:55 – 3:55
SECURE Act Retirement Update: SECURE Act, Proposed Regulations, SECURE 2.0 and Other IRS Guidelines
This presentation will address estate planning for retirement benefits in light of the SECURE Act, proposed regulations, SECURE 2.0 and other IRS guidance. After a brief refresher of the foundational definitions and concepts, the focus will be on planning for the natural objects of one’s bounty: surviving spouses, children and other relatives. If the final regulations are issued prior to the presentation, the speaker will incorporate them into the presentation.
Svetlana V. Bekman, Northern Trust, Chicago
3:55 – 4:55
Cybersecurity Best Practices: Protecting Client Information, Minimizing Risks and What To Do If You Are Compromised
(1 professional responsibility)
SPONSORED BY: CHICAGO TITLE LAND TRUST COMPANY
Colin C. Clark, Sandberg Phoenix, Edwardsville
Mark A. Williams, Sandberg Phoenix, Edwardsville
4:55 Adjourn Day 1
8:50 Opening Announcements
9:00 – 11:00
Panel of Current Developments: New Laws, New Regulations and How They Are Practically Applied
SPONSORED BY: MPI
Panel Moderator: Stacy E. Singer, Northern Trust, Chicago
Adam Garber, Levenfeld Pearlstein LLC, Chicago
Karen Van Meter, McDermott Will & Emery LLP, Chicago
Ryan A. Walsh, Croke Fairchild Duarte & Beres LLC, Chicago
11:00 - 11:20 BREAK
11:20 – 12:20
Divorce and Estate Planning
• Premarital and Postmarital Agreements
• Trust Scrutiny in Dissolution of Marriage Proceedings
• Uniform Cohabitants’ Economic Remedies Act
Lorraine Cavataio, Sandberg Phoenix, O’Fallon
T. Ryan Connor, Sandberg Phoenix, Edwardsville
12:20 – 1:20 LUNCH BREAK
1:20 – 2:35
FEATURED PRESENTATION: The Good, the Bad and the Unknown: Exploring the Corporate Transparency Act
SPONSORED BY: OLD SECOND NATIONAL BANK
The federal government has developed yet another tool to help crack down on money laundering and bad actors—this time by documenting who owns and controls closely held companies. Private companies that are accustomed to the privacy that state law has afforded them will now have to provide key information to the federal government about who actually owns and controls the companies, resulting in a first of its kind centralized repository in the United States for information about private entities. This new tool is the Corporate Transparency Act. Join us as we provide an overview of the Corporate Transparency Act and discuss best practices in addressing its requirements with estate planning clients.
Christopher Floss, ArentFox Schiff, LLP., Lake Forest
Caitlin A. Kelly, JP Morgan, Chicago
2:35 - 2:55 BREAK
2:55 – 3:55
SECURE Act Retirement Update: SECURE Act, Proposed Regulations, SECURE 2.0 and Other IRS Guidelines
This presentation will address estate planning for retirement benefits in light of the SECURE Act, proposed regulations, SECURE 2.0 and other IRS guidance. After a brief refresher of the foundational definitions and concepts, the focus will be on planning for the natural objects of one’s bounty: surviving spouses, children and other relatives. If the final regulations are issued prior to the presentation, the speaker will incorporate them into the presentation.
Svetlana V. Bekman, Northern Trust, Chicago
3:55 – 4:55
Cybersecurity Best Practices: Protecting Client Information, Minimizing Risks and What To Do If You Are Compromised
(1 professional responsibility)
SPONSORED BY: CHICAGO TITLE LAND TRUST COMPANY
Colin C. Clark, Sandberg Phoenix, Edwardsville
Mark A. Williams, Sandberg Phoenix, Edwardsville
4:55 Adjourn Day 1
DAY TWO
Track A Moderator:
James M. Lestikow, Harrison LLP, Springfield
Track B Moderator:
L. Kaye DeSelms Dent, Dent Coulson Elder Law, LLC, Effingham
Breakout Session 1
8:45 AM – 9:45 AM
Track A
Introduction to Estate Planning Practice
SPONSORED BY: LIFE’S PLAN
Maribeth G. Berlin, Levenfeld Pearlstein, LLC, Chicago
Carrie A. Harrington, Levenfeld Pearlstein LLC, Chicago
Track B
Post-Death Estate Fixes
• Disclaimers
• QTIP elections
• Beneficiary Designations
• Irrevocable Trusts
Soffia Kuehner Gray, McDermott Will & Emery LLP, Chicago
9:45 AM – 9:55 AM Transition
Track A Moderator:
James M. Lestikow, Harrison LLP, Springfield
Track B Moderator:
L. Kaye DeSelms Dent, Dent Coulson Elder Law, LLC, Effingham
Breakout Session 1
8:45 AM – 9:45 AM
Track A
Introduction to Estate Planning Practice
SPONSORED BY: LIFE’S PLAN
Maribeth G. Berlin, Levenfeld Pearlstein, LLC, Chicago
Carrie A. Harrington, Levenfeld Pearlstein LLC, Chicago
Track B
Post-Death Estate Fixes
• Disclaimers
• QTIP elections
• Beneficiary Designations
• Irrevocable Trusts
Soffia Kuehner Gray, McDermott Will & Emery LLP, Chicago
9:45 AM – 9:55 AM Transition
Breakout Session 2
9:55 AM – 10:55 AM
Track A
Fundamentals of Estate Plan Drafting
Victoria L. Cejka, Harrison LLP, Chicago
Thomas G. Hamill, Harrison LLP, Springfield
Track B
Move It, Move It: Considerations for Estate Plan Clients Relocating to or from Illinois
This session will cover a review of matters relevant to clients moving out of Illinois, including estate taxes, trust law and POA matters, as well as issues that new Illinois residents should consider in those same areas when they enter our borders.
Katherine L. Opel, Opel Bash Group, Edwardsville
10:55 AM – 11:15 AM Networking Break
Breakout Session 3
11:15 AM – 12:15 PM
Track A
Introduction to IRAs
This session will help estate planners understand and advise on a variety of topics impacting nearly all clients with individual retirement accounts. Issues include tax deferral during the owner’s lifetime, required minimum distributions, qualified charitable distributions, beneficiary selection and beneficiary designations, spousal rollovers, and inherited IRAs.
Joseph N. Blumberg, Northern Trust, Chicago
Track B
The Sun That Rises Also Sets - Tax Planning in Anticipation of Tax Cuts and Jobs Act 2025 Sunset
The December 31, 2025, sunset of many of the provisions of the 2017 Tax Cuts and Jobs Act which impacts private clients is quickly approaching. Who will the sunset affect and how will it affect them? What can we do to navigate the uncertainty of the 2024 election year and the 2024 Corporate Transparency Act developments, followed by the anticipated 2025 year-end reversion to lower gift, estate, and generation-skipping transfer tax exclusions and shifts in tax rates and deductions for individuals and businesses? We will provide practical insights and strategies in advising our clients and managing our practices in the upcoming season of transition.
Stephen I. Pratt, Levenfeld Pearlstein, LLC, Chicago
Suzanne L. Shier, Levenfeld Pearlstein, LLC, Chicago
12:15 PM – 1:15 PM Lunch Break
Breakout Session 4
1:15 PM – 2:15 PM
Track A
Introduction to Illinois Estate and Trust Administration
This session will provide an overview of the estate and trust administration process in Illinois, from client intake to closing the estate or trust. The information provided will be tailored to attorney’s who have been licensed for 0-5 years, with more focus on the simpler estate and trust administration scenarios.
Lorraine K. Cavataio, Sandberg Phoenix, O’Fallon
Nathan Levy, Sandberg Phoenix, St. Louis
Track B
Who’s the Trustee?
• how to correctly draft trustee succession provisions
(considering unintended vacancy of office of co-trustees)
• how to change trustee succession of irrevocable trusts (NJSAs, decanting)
• Incapacity of trustees
Shawn M. McCullough, Harrison LLP, Chicago
2:15 PM – 2:25 PM Transition
Breakout Session 5
2:25 PM – 3:25 PM
Track A
Foundations and Frontiers in Illinois Estate Planning, Administration, and Litigation
This presentation will provide an introduction and discussion of variety of topics needed to navigate the complexities of estate planning, administration, and litigation within Illinois. We will delve into both the foundational principles and the nuances of guardianships, probate and trust litigation, special needs trusts, certain intricacies of the Illinois Trust Code, and issues related to Illinois estate tax issues.
Elizabeth A. McKillip, Levin Schreder & Carey, Ltd., Lisle and Chicago
Heather McPherson, McPherson Law Offices, Freeport
Track B
Drafting Tips to Avoid Litigation
• Personal property provision
• limiting disclosure of the full trust under 813.1
• use of trust protector
Robin D. Maher, Levin Schreder & Carey Ltd., Chicago
Julie S. Pleshivoy, Taft Stettinius & Hollister LLP, Chicago
3:25 PM – 3:35 PM Transition
Plenary Session
3:35 PM – 4:35 PM
Understanding the Role Religious Diversity Plays in Your Clientele and in Your Practice
(1 diversity and inclusion professional credit)
Moderator: Katherine L. Opel, Opel Bash Group, Edwardsville
Ross A. Wantland, MEd, University of Illinois Urbana-Champaign, Champaign
4:35 PM Adjourn