January 9, 2020 Workshop + Dinner Meeting
DATE: Thursday, January 9, 2020
LOCATION: Hyatt Regency Miami
400 S. E. Second Avenue
Miami, Florida 33131
Workshop – 5:30 – 6:20 p.m.
“Fiduciary Accounting & Tax Reporting for Trusts and Estates "
Presented by: John Spradlin, JD, LL.M. and Lana Pernia, CPA BDO
This presentation will be based on understanding commonly used terminology relating to both fiduciary and tax accounting for trusts and estates; describe key concepts and provisions of the Uniformed Principal and Income Act (UPIA); review fiduciary accounting and distinguish between income and principal items under the UPIA; identify the classifications of trusts under Subchapter J of the Internal Revenue Code; calculate taxable income; define Distributable Net Income (DNI) and produce a DNI calculation; and explain the computational differences between Fiduciary Accounting Income, Taxable Income and DNI.
Cocktails and Dinner- 6:30 – 8:15 p.m.
"Your Information is the New Currency: Protecting Your Digital Legacy"
Presented by: Frederick B. Weber, Esq. Northern Trust
The digital revolution continues to transform the way we plan and administer estates and trusts. At death or disability, it may be difficult or impossible to access digitally stored information that will be needed to collect assets and provide for the effective administration of an estate or trust. The fiduciary’s attempt to gain access to this critical digital asset information is fraught with both legal and ethical landmines. After a series of fits and starts, the Uniform Law Commission (“ULC”) came up with a legislative “solution” to this problem that sought to balance the need for fiduciary access while addressing the data security concerns voiced by various internet service providers and privacy advocates. The legislative “solution” is a statute called the Revised Uniform Fiduciary Access to Digital Assets Act (“RUFADAA”), which was promulgated in 2015, and has now been enacted in more than 40 states, including Florida. This presentation will explore the practical implications of RUFADAA, provide some of the legislative history and background that ultimately led to RUFADAA and share some observations on the fiduciary access dilemma through the lens of RUFADAA. The presentation will also include some practical tips on what you can do now to help your estate planning clients organize their digital asset information in ways that will ease the burden of access for fiduciaries upon the client’s death or disability.
Dinner Meeting Generously Sponsored By:
The workshop and dinner sessions have applied for 1 hour of continuing education credit
for each session in the following disciplines:
CLE (Legal), CFP® (Certified Financial Planners) and CPE(Accountancy)
Please send your RSVP so that we may guarantee dinner accommodations for you and your guests. Be sure to include your food preference: chicken, fish or vegetarian.
Please RSVP at https://www.epcmiami.org/events/event/17922
The guest fee for this meeting is $65. University of Miami (UM) Law and LL.M. School students - $25 (limit 10 students). You may prepay by credit card or you may pay by credit card or check at the door (make your check payable to the Estate Planning Council). As a guest, if you decide to become a member of our organization within 45 days of this meeting, the $65 will be credited toward the fee for any membership.
Membership dues include the cost of all dinners.
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We look forward to seeing you at the meeting!