CEPC 2024 Estate Planning Fundamentals Course

Luke Harriman will co-present on “Overview of Estate, Gift and Generation-Skipping Transfer Tax” on February 6, 2024. This session includes an in-depth discussion of federal estate and gift taxes, as well as a discussion of the Illinois estate tax regime. The balance of this session will focus on the basics of the generation skipping transfer (GST) tax, including rules for calculating inclusion ratios and allocating GST exemption. The topics covered and examples used will be relevant to tax preparers and trust administrators, as well as estate planning professionals.

Allison Pfeifle and Oliver Merrill will present on the “Illinois Trust Code” on February 13, 2024. They will provide an introduction to the Illinois Trust Code, which provides the architectural framework for administering a trust. They will address which rules are considered structural supports that cannot be changed by the trust instrument, and which rules are design choices that can be drafted around. Additionally, they will discuss practical implementation of the Illinois Trust Code Rules including various methods for modifying an irrevocable trust.

Jessica Birnbaum and her co-presenters will address “Drafting Estate Planning Documents” on February 20, 2024. The session will focus on the basics of drafting estate planning instruments, including the anatomy of a standard A/B estate plan, elements of basic estate planning documents, tips for selection of fiduciaries, discussion of discretionary standards, as well as an overview of trustee powers, tax planning and other drafting considerations.