Kemp Smith Partner Speaks at the 22nd Annual Advanced Estate Planning Strategies
Contact Gene Wolf -
May 5, 2016
Kemp Smith partner Gene Wolf spoke at the 22nd Annual Advanced Estate Planning Strategies Course in Santa Fe, NM on April 28, 2016. Mr. Wolf spoke on the topic of "Ground Control to Major Tom: Clients Giving Up Control, Retaining Control and Avoiding Being Improperly Controlled".
Key points included:
- Balancing the tax benefits of giving up control with the dangers of creating a dictatorship.
- Defending the well-crafted estate plan and your client when someone alleges the client is out of control (or his mind).
- Controlling those in control if things go wrong.
- Controlling expectations of spouses and other beneficiaries.
- Using QTIP and other trusts to build in control.
- Control issues when owning community or separate property.
- Balancing control and responsibility in partnerships and other entities.
- Balancing control and responsibility with directed trusts.
- Creating control after the plan is in place - modifying, decanting, reforming, revoking, removing, etc.
Key points included:
- Balancing the tax benefits of giving up control with the dangers of creating a dictatorship.
- Defending the well-crafted estate plan and your client when someone alleges the client is out of control (or his mind).
- Controlling those in control if things go wrong.
- Controlling expectations of spouses and other beneficiaries.
- Using QTIP and other trusts to build in control.
- Control issues when owning community or separate property.
- Balancing control and responsibility in partnerships and other entities.
- Balancing control and responsibility with directed trusts.
- Creating control after the plan is in place - modifying, decanting, reforming, revoking, removing, etc.