2020 STEP Orange County Institute AGENDA
We are applying for 14 hours of nationwide continuing education for attorneys, accountants and certified financial planners,
and up to 14 hours for California insurance professionals. Program includes 1 hour of Ethics.
Sunday, February 2, 2020
2020 Super Bowl Party - Live from beautiful Miami Gardens, Florida
For those attendees arriving early, join us for a festive Super Bowl Party.
Teams and afternoon start time to be determined.
Day 1: Monday, February 3, 2020
7:00 am – 8:00 am
Registration, Buffet Breakfast and Exhibits
8:00 am
Opening Remarks & Announcements
Greg Custer, STEP Orange County Chair
Whittier Trust, Newport Beach, California
What's in it For Me? Income Tax Planning for Irrevocable Trusts
This presentation discusses how to use irrevocable trusts for state income tax minimization, income shifting, qualified small business stock, and charitable contribution deductions. Property taxes, the net investment income tax, and pre-immigration planning with irrevocable trusts will also be covered.
Matt Brown, Partner
Brown & Streza LLP, Irvine, California
9:15 am
Guns, Wine and More: Planning for Unexpected Assets
After a client’s death, a fiduciary may discover that the decedent owned some unusual assets - guns, wine and cannabis - to name just a few. Each of these requires special attention in order to avoid a wasting asset. This presentation will explore some of the ways to plan for some of the unusual assets a client may own and keep them (and their fiduciaries) out of trouble.
Wendy Goffe, Partner
Stoel Rives LLP, Seattle, Washington
10:15 am
10:30 am
Hot Topics in Estate Planning
From California to the U.S. Government, legislative and statutory proposals are moving forward that would have profound implications for planning, taxation and estate valuation. Learn more about these proposals and guidance on how to prepare for their potential enactment.
Andrew M. Katzenstein, JD, ACTEC, Partner
Proskauer, Los Angeles, California
11:30 am
It’s All in the Family…What’s a Family?
The structure of the family has changed dramatically since the 1950’s, when many of our traditional estate and financial planning strategies were developed. This presentation will provide an overview of changing generational attributes, marital practices and family structures, and examine their implications for estate planning, trust design and family collaboration and governance.
R. Hugh Magill, JD, ACTEC, Chief Fiduciary Officer & Global Director of Trust Service
Northern Trust, Chicago, Illinois
12:30 pm
BREAK for Lunch Set-Up
12:45 pm
Luncheon Presentation – Defining the Future: Investment Opportunities Transforming the Way We'll Live
From head-spinning advances in technology to far-reaching breakthroughs in medicine, the world is evolving in new and exciting ways. How will these changes impact our daily lives and the broader world around us? Join us for a glimpse into the future of three dynamic fields — cloud computing, medical research and global air travel.
Gregory Singer, Senior Vice-President & Investment Director
Capital Group Private Client Services, New York, New York
2:00 pm
Properly Identifying and Valuing Assets For Transfer Tax Purposes
Proper identification of assets to be transferred can mitigate tax consequences and potential probate or other challenges. This session will offer techniques to use, and pitfalls to avoid, when property transfer involves hard-to-value assets.
Carsten Hoffmann, ASA, Managing Director
Stout Risius Ross, LLC, Irvine, California
John W. Prokey, Partner
Ramsbacher, Prokey, Leonard, LLP, San Jose, California
3:00 pm
3:30 pm
Why Naming the Right Successor Trustee is of Utmost Importance
A corporate trustee, or other type of trustee, can have on a positive impact on the administration and on-going management of a trust. The speakers will discuss the importance of selecting a trustee whose policies align with the grantor’s needs and values. Also dive into the significant provisions that every trust should include to provide necessary guidance to the trustee to help minimize future beneficiary disputes and court litigation.
Richard J. Albrecht, J.D., LLM, Founding Partner & Kristin Yokomoto, J.D., LLM, Partner
Albrecht & Barney, Irvine, California
4:30 pm
Life Insurance Planning After Tax Reform
The Tax Cuts & Jobs Act legislation created new challenges for existing life insurance policies, and the reality that more changes are likely ahead. This presentation will focus on strategies for existing policies, ILITs and split-dollar arrangements both now, and looking forward.
Lawrence Brody, Senior Counsel
Bryan Cave Leighton Paisner, St. Louis, Missouri
5:30 pm - 7:00 pm
Cocktail Reception
Relax, mingle, and indulge in the musical styling of locale musicians.
Day 2: Tuesday, February 4, 2020
7:00 am - 8:00 am
Buffet Breakfast and Exhibits
8:00 am
I.R.C. Section 2036 and Family Partnerships: How to Make Them a Good Fit
Family partnerships offer many benefits, but can also complicate the settlement of estates. This lecture will offer advice on how to plan for the sale or transfer of assets in a family partnership.
Jonathan Blattmachr, Principal
Pioneer Wealth Partners, New York, New York
9:15 am
Domestication of Foreign Trusts
Increasing globalization and migration for employment and asset protection is presenting challenges for professional planners. The lecture will discuss the planning, jurisdiction and practical considerations when a foreign trust is to be domesticated in the U.S.
Jonathan C. Lurie, Partner
Venable, LLP, Los Angeles, California
10:15 am
10:30 am
Income Tax Consequences of Funding Sub-Trusts
Discusses six income tax issues involved in funding bequests, including whether the distribution carries DNI, and if so how much, whether recognizing capital gain may or is required when funding a bequest with appreciated property, and determining the holding period and basis of the assets distributed to the beneficiary.
Jere Doyle, Senior Vice-President
BNY Melon, Boston, Massachusetts
11:30 am
Legacy Real Estate Solutions: Bringing Value to the Table
Many families accumulate diversified real estate assets over multiple generations. Assessing their current and potential value, the expense and risk of holding, their liquidity, and ease of sale or transfer should be an important element of estate planning. This lecture will present a case study that will illustrate the considerations advisors should take into account in working with clients.
Douglas Wilson, Chairman and CEO and Michele Vives, Vice-President
Douglas Wilson Companies, San Diego, California
12:30 pm
BREAK for Lunch Set-Up
12:45 pm
Exhibitor Drawings & Luncheon Presentation
Ethical Planning within our New Paradigm: The Globalization of Enforcement

United States practitioners can no longer plan to the Water’s Edge! While discussions related to the globalization of people trended in the past, we must now focus on the globalization of enforcement, meaning rules in other jurisdictions that absolutely apply to us here in the U.S. Conflicts between the U.S. and other countries tilt now toward a global mindset when planning, lest a practitioner exalt penalties either on themselves, on their client, or both. We must understand our interesting position in the world and consider whether we desire the mantel of “the new Switzerland.” This discussion will further focus on competing planning concepts, meaning how planning techniques used in the U.S. absolutely trigger harsh consequences in other countries. We have applied for one hour of ethics credit for this session.
Cynthia Brittain, Partner
Katten Muchin Rosenman LLP, Los Angeles & Irvine, California
2:00 pm
Impending Social Security Reform and Important Claiming Strategies
It has been estimated by actuaries that the U.S. Social Security Trust Fund will begin to have its principal depleted within 15 years. There is currently no proposal in Congress to address this potential impairment. For many beneficiaries, the risk of losing future income from Social Security may significantly alter their retirement planning and lifestyle. This presentation will help planners assess the risk and adjust planning accordingly.
William Meyer, Founder & Managing Principal
Social Security Solutions, Leawood, Kansas
3:00 pm
Closing Remarks
Greg Custer, STEP Orange County Chair
Whittier Trust, Newport Beach, California