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<p class="MsoNormal">We hope you're planning to join us in sunny <i>and warm</i> Marco Island! The Estate and Gift Tax Committee will meet from 3:00 to 6:00 pm on Wednesday, March 4<sup>th</sup>. Finish off your first full day of the Annual Meeting with this
great line-up of interesting topics:<o:p></o:p></p>
<p class="MsoNormal"><o:p> </o:p></p>
<ul style="margin-top:0in" type="disc">
<li class="MsoNormal" style="mso-list:l0 level1 lfo1"><i><u>Planning with Portability</u></i>:
<b>Richard Franklin and George Karibjanian</b> will describe a creative use of combining QTIP trusts, Code Section 2519, and some innovative post-mortem steps that may make portability a much more palatable tool for second-marriage clients.<o:p></o:p></li><li class="MsoNormal" style="mso-list:l0 level1 lfo1"><i><u>Perpetual Trust Pitfalls</u></i>?
<b>Les Raatz</b> will lead a discussion on the recent Vanderbilt Law Review article by Steven Horowitz and Professor Rob Sitkoff on Unconstitutional Perpetual Trusts. Hear the latest thoughts on the interplay of state constitutions and laws on the Rule Against
Perpetuities. Can a legislature bend the Rule by defining perpetuities or stretching their term? This topic is essential not only for planning with dynastic trusts, but for offensive use of the Delaware Tax Trap!<o:p></o:p></li><li class="MsoNormal" style="mso-list:l0 level1 lfo1"><i><u>Preferred and Profits-Interest Partnerships</u></i>: Partnership structuring is still in vogue. Using partnership freezes and creating profits-interest partnerships can have dramatic estate planning
impacts. <b>Richard Dees</b> will explore these creatures and keep us grounded in the Chapter 14 tax issues that must be a part of every partnership plan.<o:p></o:p></li><li class="MsoNormal" style="mso-list:l0 level1 lfo1"><i><u>Post-Mortem GRAT Issues</u></i>: Is there any benefit to designing a long-term GRAT, even a non-zeroed out one, if your client doesn't survive the GRAT term?
<b>Turney Berry</b> will discuss some recent modeling that paves a path through this perplexing area.<o:p></o:p></li><li class="MsoNormal" style="mso-list:l0 level1 lfo1"><i><u>Passing Potential Profits to Progeny</u></i>: Can a business owner effectively shift value to the objects of her bounty by allowing them to take advantage of business opportunities, without having
those actions give rise to a taxable gift? <b>Steve Akers</b> will review three recent Tax Court decisions that show that the IRS has this issue in its sights (including a summary from the cases about what to do and not do!)<o:p></o:p></li><li class="MsoNormal" style="mso-list:l0 level1 lfo1"><i><u>Purposefully Undoing Estate Plans</u></i>: Take part in our popular Open Forum and join the discussion as
<b>Barbara Sloan</b> continues our examination of purposefully unwinding estate plans. Prepare to ponder a panoply of practical pointers, including, dare I say, avoiding discounts and causing estate inclusion, as well as potential pitfalls to avoid as we explore
specific steps to consider with clients. <o:p></o:p></li></ul>
<p class="MsoNormal"><o:p> </o:p></p>
<p class="MsoNormal">If time permits, we will peruse pertinent recent developments. I'm looking forward to your attendance and participation!<o:p></o:p></p>
<p class="MsoNormal"><o:p> </o:p></p>
<p class="MsoNormal"><i><u>Have we forgotten something?</u></i> If there's a topic you're dying to hear about or a presentation you'd like to make to the Committee, please let me know. Planning is already under way for topics to discuss at the Summer Meeting
in Quebec!<o:p></o:p></p>
<p class="MsoNormal"><o:p> </o:p></p>
<p class="MsoNormal"><o:p> </o:p></p>
<p class="MsoNormal" style="line-height:90%"><span style="color:black;letter-spacing:-.3pt">Mickey R. Davis<o:p></o:p></span></p>
<p class="MsoNormal" style="line-height:90%"><span style="color:black;letter-spacing:-.3pt">Davis & Willms, PLLC<br>
</span><span style="color:black;letter-spacing:-.3pt">Fellow, American College of Trust and Estate Counsel</span><span style="color:black;letter-spacing:-.3pt"><o:p></o:p></span></p>
<p class="MsoNormal" style="line-height:90%"><span style="color:black;letter-spacing:-.3pt">Board Certified - Estate Planning & Probate Law Texas Board of Legal Specialization<o:p></o:p></span></p>
<p class="MsoNormal" style="line-height:90%"><span style="color:black;letter-spacing:-.3pt">3555 Timmons Lane, Suite 1250<o:p></o:p></span></p>
<p class="MsoNormal" style="line-height:90%"><span style="color:black;letter-spacing:-.3pt">Houston, Texas 77027<o:p></o:p></span></p>
<p class="MsoNormal" style="line-height:90%"><span style="color:black;letter-spacing:-.3pt">(281) 786-4502 voice<o:p></o:p></span></p>
<p class="MsoNormal" style="line-height:90%"><span style="color:black;letter-spacing:-.3pt">(281) 742-2600 fax<br>
</span><a href="mailto:mickey@daviswillms.com"><span style="color:black;letter-spacing:-.3pt">mickey@daviswillms.com</span></a> |
<a href="http://www.daviswillms.com/"><span style="color:black;letter-spacing:-.3pt">www.daviswillms.com</span></a><span style="color:black;letter-spacing:-.3pt"><o:p></o:p></span></p>
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