7:30 a.m.:  Check in, Breakfast and Coffee

7:50-8:00 a.m.:  Welcome and Introduction

8:00-9:00 a.m.:  Scouting Report: Recent Developments in Trust and Estate Law with Stephen Murphy, Partner, McGuireWoods LLP

An in-depth presentation on the latest tax law and regulatory updates. Stephen will cover essential topics like gift tax rules and exemptions to help manage wealth transfers efficiently and reduce tax liabilities. Discover how charitable giving can offer tax advantages while supporting meaningful causes. You’ll also learn strategies to minimize estate taxes, understand what assets are taxable in an estate, and how to take full advantage of the marital deduction for tax-free transfers between spouses. Plus, stay informed on important fiduciary rulings that could affect the responsibilities of trustees and executors.

9:00-9:10 a.m.:  Break

9:10-10:10 a.m.: Scouting Report continued

10:10-10:20 a.m.:  Break

10:20-11:20 a.m.:  Sunset 2025: Planning with the Estate Tax Exclusion in Light of Future Uncertainty with Stephen Murphy, Partner, McGuireWoods LLP

A comprehensive presentation on navigating the evolving landscape of estate planning. Stephen will review key provisions of the 2017 Tax Act and discuss the potential impacts of upcoming changes in 2025 on your estate strategies. Learn how to optimize current estate tax exclusions, explore Spousal Lifetime Access Trusts (SLATs) and discover other techniques to maintain indirect access to your assets. Avoid common pitfalls in reciprocal trust planning and learn how to structure transactions to prevent unintended tax consequences.  Stephen will also cover the benefits of using Family Limited Partnerships (FLPs) and Family Limited Liability Companies (FLLCs) for wealth transfer and protection. Additionally, understand the importance of accurate valuations, disclosures, and adjustment clauses to reduce audit risks. Finally, assess the risks of acting now versus waiting when making estate planning decisions.

11:20-11:30 a.m.:  Break

11:30-12:30 p.m.:  Sunset 2024 continued

12:30-12:45 p.m.:  Lunch Break

12:45-1:45 p.m.: Lawyer Wellness with Hugh Grady, Director at Iowa Lawyers Assistance Program

This presentation explores how wellness has become a cornerstone of professional responsibility in the legal field. Hugh will examine the impact of mental, emotional, and physical well-being on a lawyer's competence and diligence. Discover key concepts like resilience, optimism, connection, and gratitude, as well as practical strategies for building wellness, reducing stress, and maintaining meaningful work. Learn why addressing wellness is essential for fulfilling professional duties and explore available resources to support lawyers in need.

Stephen W. Murphy is a partner in the Private Wealth Services Group of McGuireWoods LLP, in the Charlottesville, Virginia office.  Steve advises clients regarding sophisticated estate plans, and he also advises fiduciaries regarding the administration of complex estates and trusts, including issues related to investments, distributions, allocations of income and principal, and tax matters. He is the host of the podcast on estate planning, “Legacy Planning, Once Removed” – available on Spotify and through his McGuireWoods website.


He regularly lectures and publishes on a variety of legal topics relating to estate planning and trust and estate administration, including the modification of irrevocable trusts, domestic asset protection trusts, investments and the Prudent Investor Rule, the use of arbitration clauses in wills and trusts, estate planning for owners of closely held businesses, and issues related to income tax, estate tax, and generation-skipping transfer tax.

Steve is a lecturer in law at the University of Virginia School of Law, where he teaches Trust & Estate Administration and the advanced seminar, Estate Planning: Principles & Practice.  He has also served as an adjunct professor at the Washington & Lee University School of Law.  He received his J.D. and Ph.D. from the University of Virginia, where he was an editor of the Virginia Law Review and received the Ritter Award for “honor, character, and integrity.”  He lives in Albemarle County, Virginia with his wife and their four school-aged children.

 

Hugh Grady is the Director at the Iowa Lawyers Assistance Program (ILAP). His journey is quite remarkable and inspiring. Before joining ILAP, Hugh practiced law successfully for 16 years in Philadelphia and Portland, Oregon. However, he struggled with addiction, which led to significant personal and professional challenges, including legal issues and a period of incarceration1.

Hugh’s recovery began with the support of the Oregon Attorney Assistance Program, which helped him overcome his addiction and rebuild his life. He moved to Iowa and became actively involved in helping other legal professionals facing similar struggles. As the Director of ILAP, Hugh is dedicated to providing confidential support and resources to Iowa’s lawyers, judges, and law students dealing with substance abuse, addiction, and mental health issues.