February 2012 Focus Group

ADMINISTERING A STALE BYPASS TRUST WITHOUT HAVING A TRIPLE BYPASS

Rehabilitating Stale Trusts – A Case Study                                  

As estate planning professionals, it is not uncommon to discover an unfunded bypass/exemption trust when reviewing the estate plan of a surviving spouse.  In some cases, the deceased spouse may have died ten or twenty years ago, or more, and no allocation and funding was ever accomplished.  In many instances, these stale trusts may involve sensitive tax and beneficiary issues, creating a potential minefield for you and the client when performing the allocation and funding.  In this presentation, we will cover the following topics in a case study format:

            1.         When should a stale trust be funded?  Is it better to do nothing at all?

            2.         What options are available for funding stale trusts taking into account sensitive tax and/or beneficiary issues, and how does one deal with various classes of assets involved in the allocation?

            3.         How does one successfully integrate the team approach during the allocation and funding process (client, attorney, CPA/EA, fiduciary, investment advisor)?      

Please join us for this very hands-on, in-depth case study.  We welcome your input and hope that this focus group can be an educational experience for all involved. 

Presenter Professional Biographies:

Eric J. Harris:   

Attorney Eric Harris is the principal of Hofer & Harris, A Professional Corporation, located in the Riviera Village section of Redondo Beach. Mr. Harris has practiced exclusively in estate planning, trust and probate administration since 2006, having previously worked in civil litigation in the Salt Lake City – Provo area following law school. Originally from Southern California, Mr. Harris received a bachelor's of science degree from Brigham Young University and his J.D. from the University of Idaho before returning to the region to partner with former estate planning attorney Marianna Hofer who is now retired. Mr. Harris is a member of the State Bar of California, Los Angeles County Bar Association, South Bay Bar Association, and the South Bay Estate Planning Council.

Ashley Risner Copp:

Attorney Ashley Risner Copp, J.D., L.L.M. of the Law Offices of Jennifer M. Honey in Manhattan Beach received her undergraduate degree from Cornell University and her J.D. and L.L.M. in Taxation from Loyola Law School.  While at Loyola, Ms. Copp participated in the Volunteer Income Tax Assistance Program and worked as an extern for the State Board of Equalization, Office of the Chair.  Ms. Copp's areas of practice and experience include estate and gift tax planning; charitable gift planning; asset protection planning; family business succession planning; creation of limited liability companies; life insurance tax planning; and administration of probate, trusts and estates. Ms. Copp is admitted to practice before the State Bar of California and is a member of the Los Angeles County Bar Association as well as both the Trusts and Estates and Taxation Sections of the State Bar of California.

Date: February 23rd, 2012

Time: 8:00 to 9:00 AM

(Please arrive at 7:45am to grab coffee and Danish)

LOCATION

Piazza, Donnelly & Marlette, LLP                                   Yvonne Rose

3460 Torrance Blvd., Suite 150                          Phone: (310) 540-4118

Torrance, CA 90503                                          yrose@pdmaccounting.com

Mark your calendar and RSVP to Mark Tsujimoto at

tsujimotom@financialnetwork.com

or

(310) 373-7351 x304