10:00 to 10:50 am
Residency Issues After Covid

The pandemic triggered an exodus of workers from high-density cities who are now rethinking where they want to work and live. Can these taxpayers avoid tax in their “old home” jurisdiction? Have they created more tax problems with their “new home”? What about employees who will be working from home indefinitely? This program will explore the state and local tax issues created when people move. 

Mark S. Klein, Esq. 

11:00 to 11:50 am
Current Interest Rate Environment and 2022 Inflation Adjustments — A Review of Which Estate/Tax Planning Strategies Are More Effective in High-Interest-Rate Environments and the Impact on Proposed Tax Legislation.

We will review federal transfer tax and income tax developments and trends in light of the current interest rate environment and the 2022 inflation adjustments, with a focus on which planning techniques are most effective. We will also discuss estate tax considerations relative to income taxation. Finally, we will review some of the current tax proposals and what impact they would have on planning.

Sanford J. Schlesinger, Esq.

12:00 noon to 12:50 pm
Charitable Gifts of Various Assets

We will discuss what people and corporate entities are gifting to charity these days and their structure and income, estate, and gift tax consequences. In addition, compliance issues, the substantiation rules, and proposed legislation will be reviewed.

Stanley Baumblatt
Alan S. Gassman, J.D., LL.M.
Jeremiah W. Doyle, IV, Esq.
Martin M. Shenkman, J.D., CPA, MBA

2:00 to 2:50 pm
Ethical Quandaries in the Estate Planning Context

Estate planning practitioners need to deal with a multitude of ethical quandaries in their practice. Those quandaries arise from representing interrelated parties, such as representing multiple generations of family members in their estate planning who may have differing interests, to representing clients and their businesses and multiple family members with potentially conflicting interests in those businesses. Practitioners also face issues of clients’ (intentionally or not) wanting to “cross the line” in tax planning. This presentation will explore those situations and provide practical guidance in addressing those issues.

Anthony Vitiello, Esq. 

3:00 to 3:50 pm
Demystifying Distributable Net Income

This session will discuss the theory behind distributable net income (DNI), how the Internal Revenue Code defines DNI, and the three reasons why DNI is important. We will review sample calculations of DNI, how DNI gets reported on a Form 1041, and how gains may enter into DNI. The program will also discuss how DNI gets allocated among the beneficiaries of a simple trust and a complex trust. We will discuss the tier system, the separate share rule, the 65-day rule, specific bequests, and distributions in kind. Suggested drafting techniques to incorporate into estate planning documents to achieve the best income tax results will also be included.

Jeremiah W. Doyle, IV, Esq.

4:00 to 4:50 pm
Significant Medicaid Changes for 2023: What Your Clients Need to Know

We will review the significant clinical and financial changes taking place in the Medicaid space in 2023. We also will review the new financial and lookback requirements and present an in-depth description of the clinical assessment process, which has recently undergone drastic and impactful changes. Finally, there will be a review of the various ways in which attorneys and CPAs can assist their clients with preparing financially and legally for Medicaid and long-term care expenses.

Elizabeth Forspan, Esq.

5:00 to 5:50 pm
Tax Strategies for Clients With Collectibles

Clients with collectibles face investment cost, income tax, charitable, valuation, and estate tax issues. This program provides an overview of these issues and how to properly advise a client to have them maximize the income tax benefits, minimize the estate tax costs, and take advantage of investment rules applicable for collectibles.

Edward Mendlowitz, CPA, PFS, ABV, CFF

10:00 to 10:50 am
Planning for Surviving Spouse

This session will address the many issues and challenges arising from tax law and financial planning considerations that face a surviving spouse. The surviving spouse will face a myriad of decisions to be made — many of which may have important implications for both the survivor and the survivor's family.

Steven G. Siegel, J.D., LL.M. (Taxation)

11:00 to 11:50 am
Accomplishing Both Income Planning and Estate Planning Objectives When an Appreciated Asset Is Sold While Living

How one can use the installment sale of an appreciated asset to a non-grantor family trust to postpone the reporting of gain when the family trust sells the asset for cash. The materials will first describe how installment sales to non-grantor trusts of unencumbered assets need to be structured to maximize the income tax benefits and then illustrate the estate planning objectives. The materials will then describe how installment sales can be used to defer the reporting of gain from the sale of encumbered real estate with negative capital accounts.

Jerome M. Hesch, J.D., MBA

12:00 noon to 12:50 pm
SLATs: Practical Planning and Administration for the Planning Acronym du Jour

Spousal Lifetime Access Trusts (“SLATs”) became the planning acronym du jour in 2020-2021 as clients sought to use exemption before a change in the law. With the exemption scheduled to be cut in half in 2026, practitioners will likely see a deluge of new SLAT plans. What should be done to shore up and administer SLATs that were done in recent years? What risks do those trusts face and what might practitioners recommend to clients now? What issues or mistakes commonly arise in reporting SLAT transactions on gift tax returns? What might practitioners improve in the SLATs that they create now and in the pre-2026 rush? How can SLAT planning be enhanced? How might SLATs provide an opportunity to improve old insurance trusts and plans clients have in place?

Martin M. Shenkman, J.D., CPA, MBA

2:00 to 2:50 pm
Capital Gain Planning for Real Estate

We will explore the tax result of property disposition (capital gain, depreciation recapture, Sec. 1031 loss lookback) and then discuss opportunities available under current law for deferral of gain recognition.

Brian T. Lovett CPA, J.D., CGMA

3:00 to 3:50 pm
50 Ways to Leave Your Legacy — Charitable Planning Strategies You Forgot or Didn't Know About

This presentation will cover dozens of charitable giving and disposition planning opportunities, and how they can work to provide mini categories of clients with excellent tax and practical results while satisfying charitable purposes. We will also cover a number of traps for the unwary and favorable ways to handle situations that are not known. This presentation includes a written outline of innovative charitable planning and an extensive checklist.

Alan S. Gassman, J.D., LL.M.

4:00 to 4:50 pm
Retirement Plans for Closely Held Business and High-Net-Worth Individuals

There are many choices of retirement plans for closely held businesses, its owners, and other high-net-worth individuals. This session will focus on the advantages and disadvantages of different plan options, and which plans are appropriate for the company and its owners in light of recent law changes and proposed legislation including the SECURE Act and changes to Required Minimum Distributions. We will also discuss the tax benefits and appropriate planning techniques for high-net-worth individuals.

Avery E. Neumark, J.D., LLM, CPA

5:00 to 5:50 pm
Latest New York Tax and Planning Developments

Hear about the most important recent developments, trends, and estate planning ideas, including latest legislative developments; case law updates; estate, gift, and other tax law changes; tips to protect your clients and yourselves from liability; and other breaking state-level developments.

Sharon L. Klein, Esq.

5:50 to 6:00 pm
Wrap-up

Martin M. Shenkman, J.D., CPA, MBA

Sidney Kess, Esq., CPA
Of Counsel to Kostelanetz & Fink, LLP
Senior Consultant to Citrin Cooperman
UJA Chair
New York, NY

Stanley Baumblatt 
Director, PG&E
UJA-Federation
New York, NY

Jeremiah W. Doyle, IV, Esq.
Senior Vice President
BNY Mellon Wealth Management
Boston, MA

Elizabeth Forspan, Esq.
Managing Attorney
Forspan Klear LLP
Great Neck, NY

Alan S. Gassman, J.D., LL.M. 
Partner
Gassman, Crotty & Denicolo, P.A.
Clear Water, FL

Jerome M. Hesch, J.D., MBA
Special Tax Counsel, Adjunct Professor of Law
Meltzer, Lippe, Goldstein & Breitstone LLP
Mineola, NY

Sharon L. Klein, Esq.
President, Eastern Region, Family Wealth
Wilmington Trust, N.A.
New York, NY

Mark S. Klein, Esq.
Partner
Hodgson Russ LLP
New York, NY

Brian T. Lovett CPA, J.D., CGMA 
Partner
WithumSmith+Brown
East Brunswick, NJ

Edward Mendlowitz, CPA, PFS, ABV, CFF 
Partner
WithumSmith+Brown
East Brunswick, NJ

Avery E. Neumark, J.D., LLM, CPA
Partner, Senior Consultant
Marks Paneth LLP
New York, NY

Sanford J. Schlesinger, Esq. 
Partner
Schlesinger Lazetera & Auchincloss LLP
New York, NY

Martin M. Shenkman, J.D., CPA, MBA 
Attorney
Shenkman Law
Fort Lee, NJ

Steven G. Siegel, J.D., LLM (Taxation) 
President
The Siegel Group
Morristown, NJ

Anthony Vitiello, Esq. 
Partner and Chairman, Tax & Estate Planning Group
Connell Foley, LLP 
Roseland, NJ

Vice President
William Samers

Directors
Stanley Baumblatt
Jaya Nahmiyas 

Manager, Estate Administration
Meredith A. Streit

Accounting Manager
Louise Modlin

Senior Accountant
Minal Jain

Community Trust Officer
Irina Tuchina

Planned Giving Officer
Orly Harel

Senior Development Executive
Stephanie Katz

Administrative Staff
Inna Galperin
Dylan Rothschild
Paige Ruggles