Continuing Education Program

In an effort to familarize area Attorneys, Accountants, Financial Planners and Trust Officers with the Catholic Foundation and its mission, the Foundation has sponsored its Second Annual Continuing Education Course in Estate Planning. The Course qualified attendees to receive four hours of continuing education credit with the Oklahoma Bar Association and the Board of Certified Financial Planners. Attendance Certificates were available for other group that require continuing education including the Oklahoma Society of CPAs. Approximately 130 persons attend the course on October 26, 2012.

Estate Planning 2012 Course

for Attorneys, Accountants, Financial Planners & Trust Officers

Sponsored by

Held on Friday, October 26, 2012 —    8 am – 12 noon
Catholic Pastoral Conference Center -- 7501 NW Expressway, Oklahoma City, 73132

2012 Presenter: Mr. Charles D. “Skip” Fox IV is a partner with the law firm of McGuireWoods LLC, a law firm of approximately 900 attorneys in 19 locations worldwide. He resides in Charlottesville, VA. Mr. Fox’s extensive experience includes estate planning and administration, and charitabl organizations. He works with clients regarding planning for families with closely held businesses, including ownership succession issues; the use family limited partnerships, limited liability companies, and other techniques to transfer wealth at significantly reduced transfer tax costs; and cou seling on the appropriate uses of family offices. He lectures annually around the country at numerous seminars on estate planning and trust admin stration topics for banks, bar associations and other organizations, including the University of Miami Heckerling Estate Planning Institute and the Notre Dame Estate Planning Institute.

Session 1 Topic: Recent Developments. A review of recent developments in the estate, gift, generation-skipping tax, and fiduciary income tax fields. Special attention paid to the marital deduction, split interest gifts, family limited partnershi and limited liability companies, valuation issues, charitable giving, and audit issues.

Session 2 Topic: Tax and Non-Tax Issues in Closely Held Business Succession Planning. One of the most difficult times for many families is the transition of a closely held business from one generation to the next. This session looked first at the non-tax issues that must be confronted in advising on the transition of a closely held business. Then, the advantages and disadvantages of various techniques such as gifts, trusts, grantor retained annuity trusts, sales to defective grantor trusts, redemptions, and Section 6166 estate tax deferrals was examined.

Session 3 Topic: Asset Protection Planning -- Fifteen Years After Alaska and Delaware Permitted Self-Settled Asset Protec- tion Trusts. In 1997, both Alaska and Delaware permitted settlors to obtain creditor protection through domestic asset protection trusts. This part of the program examined different strategies for providing asset protection for settlors and beneficiaries and paid special attention to the use of offshore trusts as well as onshore trusts that more and more states have permitted since Alaska an Delaware first opened the doors in 1997.

Session 4 Topic: The Top Ten Ethical Challenges Facing Estate Planners. This session discussed the top ten ethical challenges facing estate planners. These challenges include representing clients in states other than the attorney's home jurisdiction, rep resenting different members of a family, acting as a fiduciary for a client, doing work promptly, and charging reasonable fees.