This group is comprised of committees that focus upon estate planning and estate and trust administration issues other than taxation as well as on wealth planning issues and includes committees on financial and insurance planning and asset protection planning. Probate and trust attorneys who want to understand their clients’ entire financial situation and protect their clients’ families against more than probate and death taxes will find the information these committees provide crucial to their practice. This group also assists the practitioner to develop estate and trust plans that are sustainable over time.
Non-Tax Estate Planning Considerations Group Committees
Asset Protection Planning
This committee focuses on the planning techniques available to preserve and protect accumulations of wealth from the multitude of potential claims arising from future litigation, government expropriation and other threats. The committee members utilize domestic as well as offshore planning tools to accomplish clients’ objectives. The committee’s agenda includes educating members of the bar as to the legitimate objectives, propriety of and need for asset protection planning. The committee monitors domestic and foreign legislative litigation developments in this area, participates in CLE programs and publishes information for Section members on these topics.
Financial Planning and Risk Management
This committee focuses on insurance issues of all kinds, including life insurance, disability insurance, long-term care insurance, health, property, and casualty insurance (with primary emphasis being on life insurance). The committee has endeavored to educate lawyers concerning each type of insurance. A major project of the committee has been the initiation of the “Insurance Counselor” series, which is a series of primers on various insurance topics. Other projects include preparation of a standard form for the assignment of life insurance policies to irrevocable trusts. In addition, the committee frequently participates in programs at the Section meetings.
Non-Tax Issues Affecting the Planning and Administration of Estates and Trusts
The committee discusses any non-tax issues relating to trusts and estates that are of interest to its members. Activities of the committee have included sponsoring CLE programs at various ABA meetings, publishing articles in Probateand Property andother ABApublications, andcommentingonproposed legislation.