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Self-Settled Trusts After Wacker

SKU: EST9900
Total Credits
1 - 1.5
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The Supreme Court of Alaska just held that Alaska could not require that proceedings relating to the transfer of assets to an Alaska self-settled trust be before an Alaska court. The Court did not invalidate self-settled trusts created in that state as some commentators have suggested. The viability of Alaska (and other state) self-settled trusts shielding trust assets from the claims of the grantor’s creditors was not disturbed.

This CLE program will explain why, with such high temporary estate tax exemptions, Domestic Asset Protection Trusts (“DAPTs”) are a vital planning tool for many clients and how DAPTs can be used to increase the early use of the exemptions. The reasoning and use of DAPTs in today’s planning environment will be explored for income and estate tax purposes. The actual holding in the Toni 1 Trust v. Wacker case will be explained. Options might include hybrid DAPTs, loan powers, non-fiduciaries making distributions, pre-transfer planning such as solvency affidavits, searches, and more. Practical planning tips on how trusts can be structured to provide greater protection will be discussed. What should practitioners communicate to clients who created DAPTs in the past?

Lecturer Bios

Martin M. Shenkman, Esq.

Martin M. Shenkman, CPA, MBA, PFS, AEP (distinguished), JD, is an attorney in private practice in Paramus, New Jersey and New York City. Practice concentrates on estate and tax planning. He is the author of 42 books and more than 1,000 articles. He is active in many charitable causes and founded which educates professional advisers on planning for clients with chronic illness and disability. He has a Bachelor of Science degree from Wharton School, with a concentration in accounting and economics, an MBA from the University of Michigan, with a concentration in tax and finance, and a law degree from Fordham University School of Law.

To learn more about Marty visit his website

Jonathan G. Blattmachr, Esq.

Mr. Blattmachr is a Principal in ILS Management, LLC and a retired member of Milbank Tweed Hadley & McCloy LLP in New York, NY and of the Alaska, California and New York Bars. He is recognized as one of the most creative trusts and estates lawyers in the country and is listed in The Best Lawyers in America. He has written and lectured extensively on estate and trust taxation and charitable giving.

Mr. Blattmachr graduated from Columbia University School of Law cum laude, where he was recognized as a Harlan Fiske Stone Scholar, and received his A.B. degree from Bucknell University, majoring in mathematics. He has served as a lecturer-in-law of the Columbia University School of Law and is an Adjunct Professor of Law at New York University Law School in its Masters in Tax Program (LLM). He is a former chairperson of the Trusts & Estates Law Section of the New York State Bar Association and of several committees of the American Bar Association. Mr. Blattmachr is a Fellow and a former Regent of the American College of Trust and Estate Counsel and past chair of its Estate and Gift Tax Committee. He is author or co-author of five books and more than 400 articles on estate planning and tax topics.

Among professional activities, which are too numerous to list, Mr. Blattmachr has served as an Advisor on The American Law Institute, Restatement of the Law, Trusts 3rd; and as a Fellow of The New York Bar Foundation and a member of the American Bar Foundation.

Abigail E O'Connor, Esq.

Abigail O'Connor is a member of Holland & Knight's Private Wealth Services Group. She focuses her practice on estate planning, trust administration, probate matters and math modeling.

Ms. O'Connor represents individuals and families to create and implement estate plans. The primary emphasis for every estate plan is to achieve the client's objectives, which may include wealth preservation, minimizing estate taxes or continuing a family business. Often Ms. O'Connor will work in conjunction with a family's other advisors, such as its accountant and financial planner, to coordinate the estate plan with all aspects of the family's dynamics and financial assets.

Ms. O'Connor represents fiduciaries of estates and trusts. She guides personal representatives through the probate process and works with them to administer the estate and fulfill the client's fiduciary obligations. She advises trustees on their duties and assists them in all aspects of trust administration.

Ms. O'Connor holds an M.S. in Applied Mathematics, and incorporates her advanced mathematics knowledge into her law practice. This includes creating models for clients that illustrate their potential estate tax liabilities and distributions of assets. Other types of models serve as decision-making tools for clients when determining whether to implement various options as part of their estate plans.

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