Annual Notre Dame Tax and Estate Planning Institute

Again this year, Chuck Taunt attended the Annual Notre Dame Tax and Estate Planning Institute in South Bend, Indiana on October 27th, 28th, and 29th. This nationally recognized conference features presentations by experts from around the country on tax, estate planning, and administration.

 Featured speakers this year included Catherine Hughes, Deputy Director of the of the Department of Treasury, who was intimately involved in drafting the proposed regulations which are the subject of incentives discussion and fierce debate over whether and how valuation discounts should be limited. Ms. Hughes comments were insightful and themselves subject of extensive comment by nationally recognized publications.

 Conference also featured an extensive presentation entitled, “The Thoroughly Modern Trust.” The speaker suggested that estate tax planners should consider structuring trusts to be virtually permanent in nature with beneficiaries being granted the power to select the Trustee apart achieving a certain age or advance rather than distributing the funds outright to beneficiaries. The concept includes view of the trust as a permanent investment company which could invest trust assets or purchase, for example, a home for the beneficiaries rather than dispersing funds to enable the beneficiary to purchase the house in their own name. The tax, long-term estate planning, and asset protection advantages could be substantial while allowing the beneficiaries some level of control over the assets themselves.

 For more information on these or other topics of estate planning, please call Chuck directly at (248) 647-2582 or the receptionist at (248) 644-7800.

 Best wishes for this holiday season.