Estate Planning for a Mobile Population

Agenda

Property Rights

• Community Property vs. Common Law Jurisdictions
• Spousal Rights and Elections
• Homestead Laws
• Joint Tenancy, Tenants by the Entirety and Tenants in Common
• Pre- and Post-Nuptial Agreements
• Ancillary Documents

Intestacy vs. Testacy

• Validity of Will
• Fiduciary Selection

Probate Process

• Probate Variations
• Use of Living Trusts
• Use of Entities to Avoid Probate

Trust Residence

• Estate, Inheritance and Income Tax Issues
• Trustee Selection
• Trust Situs
• Asset Protection
• Rule Against Perpetuities
• Decanting vs. Merger vs. Division

Foreign Estate Planning

• In-Bound
• Use of OffShore Trusts and Companies
• Gifts Before Establishing Residency
• Local Origin, Law
• Definition of Domiciliary
• U.S. Tax on Resident vs. NonResident
• Out-Bound
• Expatriation Law
• Laws of Other Countries

Credits

Faculty

Scott A. Bowman

Proskauer Rose LLP

• Attorney at Proskauer Rose LLP, in the Boca Raton, Florida, office
• Practice focuses on all areas of estate planning and private client tax, including international aspects
• Serving as Trust and Estate Fellow in Real Property, Trust and Estate Law Section of the American Bar Association
• Regular speaker and writer, including speaking events for RPTE and Tax Sections of the American Bar Association and publication in ACTEC Journal and Trust & Estates Magazine
• LL.M. degree in tax, University of Florida; J.D. degree, with honors, University of Florida; M.A. degree, with highest honors, University College London; B.A. degree, magna cum laude, Furman University
• Can be contacted at [email protected] or 561-995-6141

John M. Collins

Haynes and Boone, LLP

• Partner at Haynes and Boone, LLP
• More than 30 years of experience in several areas of tax practice, including estate planning, family wealth planning, charitable organizations, and employee benefits and executive compensation matters
• Recognized as one of the best trusts and estate lawyers in Dallas by D Magazine, 2008 to 2009 and multiple prior years; a Texas Super Lawyer by Texas Monthly Magazine, 2007 to 2010; and listed in the Best Lawyers in America in Employee Benefits Law and Trusts and Estates, 2009 to 2011
• J.D. degree, with honors, University of Texas; B.A. degree, with honors, Duke University

Lisa M. Stern

Proskauer Rose LLP

• Senior counsel in the New York office of Proskauer Rose LLP
• Practice emphasizes all aspects of estate planning, estate and trust administration, and estate and trust related litigation
• Publications and Awards: Estate Planners and Probate Litigators Collaborate to Guard Against Will Contests, Estate Planning Journal (co-wrote with Leonard S. Baum, June 2010) ; Will Contests - Red Flags of Discourage, Steve Leimberg's Estate Planning Newsletter #1488 (July 8, 2009); Extra Precautions Reduce Likelihood that Will Contest Will Succeed, N.Y.L.J. (co-wrote with Jay D. Waxenberg, Sept. 2008); An Ounce of Prevention, Trusts and Estates (Aug. 2008); 2011 to 2012 John S. Nolan Fellow of the ABA Section of Taxation
• Past chair of the Fiduciary Income Tax Committee of the ABA Section of Taxation
• Member of the Estate and Gift Tax Committee and the Real Property, Probate and Trust Law of the ABA Section of Taxation; the Estate and Gift Tax Section of the Bar of the Association of the City of New York; and member of the Estate Planning Council of New York City
• LL.M. degree in tax, New York University; J.D. degree, St. John’s University School of Law
• Can be contacted at [email protected]