A trustee's power to pay over assets from one trust to another is a valuable technique. Whether relying on common law, EPTL 10-6.6(b), or another state statute specifically authorizing a transfer, the ability to pour over or decant assets from one trust to another permits a trustee to accomplish tax goals (for example, to change a grantor trust to a non-grantor trust or avoid state fiduciary income tax), to change provisions relating to trustees, to add or delete spendthrift provisions, and to achieve many other planning goals and objectives. This program will address the prerequisites for taking advantage of this powerful tool, provide drafting tips and practical advice about the potential uses of decanting and explain when decanting is unavailable. This program is aimed at lawyers with a basic understanding of the drafting and administration of trusts.
Cooley Godward Kronish
Richard S. Rothberg is a partner in the Estate Planning and Personal Representation practice. He joined Kronish Lieb Weiner & Hellman LLP in 1990, which was merged into Cooley Godward Kronish LLP in 2006. He is resident in the New York office and co-heads the Firm¿s New York Personal Representation and Tax Planning practice.
Mr. Rothberg has practiced in the areas of trusts and estates for more than 25 years. His practice includes personal wealth transfer planning; estate and trust administration; estate, gift and generation-skipping tax planning; fiduciary income tax issues; estate and gift tax dispute resolution; wealth transfer litigation; charitable planning; and marital planning including legal and financial planning in the context of marriage and the marriages of children and other family members and the preparation and negotiation of prenuptial and postnuptial agreements.
Mr. Rothberg received his J.D. in 1967 from Harvard Law School, cum laude. He attended Northwestern University, Evanston, Illinois, receiving his B.A. with distinction in 1964. He was a member of Phi Beta Kappa.
Mr. Rothberg is a former Chair of the Trusts and Estates Law Section, New York State Bar Association, and a fellow of the American College of Trust and Estate Counsel. He has been recognized by New York Magazine as one of the New York City area¿s ¿Best Lawyers¿ in the field of Trusts and Estates, and has been named to the ¿Super Lawyers of New York ¿ 2006¿. He has written and lectured extensively on topics related to gift and estate taxation, including contributions to legal and tax journals on the subjects of federal and state estate taxes, retirement plan benefits, S Corporations and the valuation of family businesses.
Mr. Rothberg is admitted to practice before the Bar of Indiana and the Bar of New York State.
Pillsbury Winthrop Shaw Pittman
Ms. Fry is a partner in the firm's Estates, Trusts & Tax Planning practice where she counsels individuals and families with respect to estate, gift, generation-skipping and income tax planning, charitable giving, and represents individuals and corporations acting as fiduciaries in connection with estate and trust administration. Her practice includes preparation of wills, trusts, partnerships, limited liability companies and private foundations, and representation of individuals and fiduciaries before the IRS and Surrogate's Court. Ms. Fry is recognized in the 2009 edition of The Best Lawyers in America as a leading New York lawyer for Trusts and Estates.
Fulbright & Jaworski
Meryl G. Finkelstein is Senior Counsel in the New York office of Fulbright & Jaworski L.L.P. She utilizes her extensive knowledge of estate and wealth planning techniques and her skills as a draftsman to counsel clients on a wide variety of estate planning, business succession and wealth transfer issues. Meryl focuses primarily on trusts and estates matters, with an emphasis on estate and wealth planning for individuals and their families. Her clients include a wide variety of business professionals, owners of closely-held businesses and private investors.
A former career in the securities industry has given Meryl a keen understanding of basic and advanced investment strategies, and how these strategies can be utilized for gift and estate planning purposes, and implemented in connection with the administration of trusts.
Wachtell, Lipton, Rosen & Katz
Pamela Ehrenkranz is head of the Trusts and Estates Department at Wachtell, Lipton, Rosen & Katz. She provides transfer (including estate and gift) and individual tax planning advice (including advice on charitable giving and matrimonial matters) to high net worth individuals, advises on the structure of financial holdings, and the orderly and efficient transfer and administration of assets and personal affairs at death. She also advises not-for-profit organizations, both public charities and private foundations.
Ms. Ehrenkranz is a member of the New York, New Jersey, and California Bars. She graduated with a B.A. from the University of Pennsylvania. She earned a J.D. from Rutgers University and an LL.M. in Tax from New York University School of Law. She is a member of the Dean's Council of New York University Shirley M. Ehrenkranz School of Social Work and a member of the Council for Women's Health Research at Yale University.
Pamela Ehrenkranz lectures and publishes on a frequent basis. She is an active member of both the New York State Bar Association and the Association of the Bar of the City of New York.
Baker & McKenzie
Glenn G. Fox is a partner of Baker & McKenzie's Tax Practice Group in New York. Mr. Fox is a member of the American College of Trust and Estate Counsel and of the Society of Trust and Estate Practitioners. He has been recognized for seven consecutive years (2007-2013) as a "New York Super Lawyer" by the New York Times. Mr. Fox’s estate planning practice focuses on the use of sophisticated wills, trusts, closely held entities, and tax exempt (charitable) entities to enable clients to bequeath and gift assets with the imposition of the least amount of transfer taxes. He has significant experience in dealing with closely held business interests, retirement assets, foreign assets, foreign trusts and US and foreign tax exempt organizations. He represents domestic and foreign clients with worldwide assets in estate, trust, tax and tax exempt/not-for-profit organization matters.