The Catholic Foundation of Oklahoma is presenting a continuing education program this fall entitled Estate Planning 2017. The program will be held Friday, Nov. 17, from 8 a.m. to Noon at the Catholic Pastoral Center.
The course is geared toward attorneys, accountants, financial planners and trust officers. The cost for the course is $50 in advance and $75 the day of the course.
The presenting sponsor for the course is The Private Bank at Bank of Oklahoma. The 2017 presenters are Cynda Ottaway and Lauren Ottaway Johnson. Ottaway is a director of the Oklahoma City law firm Crowe and Dunlevy. She heads the firm’s Private Wealth and Closely-Held Business Practice Group in the Oklahoma City office. Her practice focuses on estate planning, trust and estate administration and litigation and planning for closely-held family businesses. She has experience in wealth transfer techniques and assists individuals and businesses with succession planning. Ottaway serves as immediate past president of the American College of Trust and Estate Counsel and is a frequent speaker and writer.
Johnson is an associate in the Oklahoma City office of Crowe and Dunlevy. Her areas of practice include wealth planning, tax-exempt organizations, trusts and estates and taxation. She is a member of the firm’s Private Wealth and Closely Held Business and Taxation Practice Groups. Johnson earned her doctorate degree from Boston University’s School of Law, graduating cum laude. While attending law school, she served as a member of the American Journal of Law and Medicine. Additionally, Lauren earned her Master of Laws degree in taxation and an estate planning certificate from Georgetown Law Center in Washington, D.C. She is a graduate of Washington and Lee University with a bachelor’s degree in history. She was selected for inclusion in the 2013-14 Leadership Oklahoma City LOYAL Class IX, and was a recipient of the 2014 NextGen Under 30 award and 2016 Achievers Under 40 award.
Course Topic 1
Potpourri of Ideas with Concentration on Recent Oklahoma Developments includes a discussion on transfer-on-death conveyances and accounts, recent legislation to provide default of health care representatives in the absence of advance directives or durable powers of attorney, review last year’s legislation to adopt a procedure in Oklahoma for doctors and physicians to sign a “POLST,” which is a more detailed version of a do-not-resuscitate order, consider pending legislation for decanting trusts.
Course Topic 2
Estate Planning Current Developments on a National Level includes a Top 10 list of major developments in the estate planning world in the past year. Discussion of the effect of the new Trump administration and the Republican’s proposals regarding tax reform, including the transfer tax. Estate planning considerations in the face of legislative uncertainties.
Course Topic 3
Charitable Planning with Retirement Assets includes examining various techniques for including charities in the disposition of qualified retirement plan assets. With an increasing amount of retirement account assets (principally in the form of IRAs and other retirement plan assets) being transferred in the estates of decedents, there can be sizable taxable income to the beneficiaries when they receive a payment. This topic explores ways to minimize or eliminate the transfer creating an income tax liability and the ways that testamentary transfers to charities are best structured.
Course Topic 4
Ethics: Recommendations and Guidelines for Engaging your Clients includes scenarios to illustrate the proper use and improper use of engagement letters. Because of the critical importance of engagement letters, the American College of Trust and Estate Counsel organization has developed a series of forms of engagement letter. The sample engagement letters address the ethical issues that may arise as a trust and estate lawyer and a client collaborate in establishing the nature and scope of a representation.
The course is approved by the Mandatory Continuing Legal Education Commission of Oklahoma for a maximum of four credit hours, of which one hour is credit covering ethics. Certificates of attendance are available for CFP, CPA and other forms of continuing education.