44th Annual Trusts and Estates Seminar 2025

The Year in Review: Uncovering Tax and Fiduciary Trends to Better Plan and Prepare
Bill Sanderson

For at least the last two decades, the federal wealth transfer tax has been in a state of continued—sometimes gradual, sometimes fast-paced—evolution. This session will review the landscape of federal legislation dealing with the estate and gift tax, and it will address trends in recent cases, regulatory guidance, and administrative updates that have an impact on estate planning and estate administration.

Virginia Developments in Estate Planning and Administration
Sarah Brownlow

The latest on new Virginia legislation and case law.

Unusual Assets in Estate Planning and Administration
Peter Davies

This segment will explore unusual assets—e.g., aircraft, precious metals, cryptocurrency—encountered in estate planning and administration. Because certain items require special consideration, we will review pre-death titling issues to post-death transfers.

Tax Basics for Estate Administration
Jennifer Lucey, Chris Wright

The income tax obligations imposed upon executors and trustees by the IRS and state and local tax authorities can be a trap for the unwary and an unwelcome surprise for heirs and beneficiaries. This presentation will focus on basic income tax concepts and obligations that attorneys should be aware of when advising fiduciaries in the estate and trust administration process. The presentation will provide planning tips, checklists, and more.

Ethics Potpourri
James A. Gillis

We will review various ethics rules with which estates and trusts practitioners must grapple from time to time. Topics include the differences between the duty of confidentiality and the attorney-client privilege; requirements when the attorney is named as fiduciary in documents he or she drafts; representing parties in the creation or review of marital agreements; representing a client who is both executor and beneficiary of an estate; requirements when a third party pays for the representation; dealing with unrepresented parties; the lawyer as fiduciary; required recordkeeping and monthly trust account reconciliation procedures; clients with diminished capacity; and more. The goals of the presentation are to review the Rules of Professional Conduct (RPC 1.6, RPC 1.7, RPC 1.8, RPC 1.14, RPC 1.15, RPC 4.3) and LEOs (LEO 1515, LEO 1757, LEO 1778, LEO 1800, LEO 1846, LEO 1850) on point and discuss practical solutions and procedures the practitioner can implement to avoid ethical landmines.

Precision in Trust Drafting—Avoiding Common Pitfalls in Discretionary Distribution Language
Kathi L. Ayers

This session will focus on improving the precision of discretionary distribution language in trust drafting. We will explore the legal and tax implications of standards like HEMS (Health, Education, Maintenance, and Support), as well as the risks of using overly broad or ambiguous terms. Topics will include estate tax inclusion under IRC §§ 2036 and 2041, grantor trust rules under IRC § 674, and creditor protection concerns. The session will also address strategies for using independent trustees, planning for special needs beneficiaries, and drafting for long-term flexibility in dynasty trusts. Attendees will gain practical tips and sample language to balance trustee flexibility with tax efficiency.