Opportunities and Obstacles in Trust Decanting
Date: Monday, February 11, 2013
Time: 12:15 PM - 1:15 PM
Location: MAC 405 Washington Avenue
Speaker: Charles A. Redd
Registration is 11:30am., Lunch is 12:00pm., Presentation is 12:15pm.
About the Talk:
Detailed review and analysis of Missouri decanitng statute
Brief overview of decanting in other states
Examination of potential tax consequences of decanting
Potential Trustee liability for decanting or failing to decant
Speaker Biography:
Charles "Clary" Redd concentrates his practice in estate planning, estate and trust administration and estate and trust-related litigation. Prior to joining Stinson, Clary was a partner with another large law firm where he served as Vice Chair of its Trusts & Estates Practice Group. He was previously employed as a trust administrator by First Wisconsin Trust Company (now U.S. Bank, N.A.) in Milwaukee and as an assistant counsel by Centerre Trust Company of St. Louis (now U.S. Trust Bank of America Private Wealth Management).
Clary has extensive experience and expertise in: (a) the drafting of wills, trust instruments, durable powers of attorney, marital agreements and other estate planning documents; (b) pre- and post-death tax planning for individuals, trusts and estates; (c) preparation and filing of estate tax returns, gift tax returns and fiduciary income tax returns; (d) representation of individual and corporate fiduciaries; and (e) litigation in the Probate Division and other equity divisions of the Circuit Court. He has worked on estates and estate planning projects involving assets valued at several hundred million dollars and has successfully handled numerous estate tax matters, gift tax matters, generation-skipping transfer tax matters, will and trust construction cases, will contests, contests of trust agreements, breach of fiduciary duty cases and other types of cases involving estates and trusts.
Clary has extensive experience and expertise in: (a) the drafting of wills, trust instruments, durable powers of attorney, marital agreements and other estate planning documents; (b) pre- and post-death tax planning for individuals, trusts and estates; (c) preparation and filing of estate tax returns, gift tax returns and fiduciary income tax returns; (d) representation of individual and corporate fiduciaries; and (e) litigation in the Probate Division and other equity divisions of the Circuit Court. He has worked on estates and estate planning projects involving assets valued at several hundred million dollars and has successfully handled numerous estate tax matters, gift tax matters, generation-skipping transfer tax matters, will and trust construction cases, will contests, contests of trust agreements, breach of fiduciary duty cases and other types of cases involving estates and trusts.
Education
St. Louis University, J.D., 1979
St. Louis University, B.A. History, summa cum laude,1976
Phi Beta Kappa
Phi Beta Kappa
Of Note
Clary was chairman of The Missouri Bar's Health Care Durable Power of Attorney Subcommittee, and he played a significant role in the drafting and enactment of the Missouri Durable Power of Attorney for Health Care Act.
He is an elected member of The American Law Institute, a fellow of The American College of Trust and Estate Counsel (Board of Regents; Missouri State Chair; Communications Committee; Estate and Gift Tax Committee; Fiduciary Litigation Committee; and Program Committee) and an adjunct professor of law (Estate Planning) at Northwestern University School of Law. He also serves as Co-Chair of the Editorial Advisory Board of Trusts & Estates magazine. He speaks and writes frequently on topics in the trusts and estates field.
He is an elected member of The American Law Institute, a fellow of The American College of Trust and Estate Counsel (Board of Regents; Missouri State Chair; Communications Committee; Estate and Gift Tax Committee; Fiduciary Litigation Committee; and Program Committee) and an adjunct professor of law (Estate Planning) at Northwestern University School of Law. He also serves as Co-Chair of the Editorial Advisory Board of Trusts & Estates magazine. He speaks and writes frequently on topics in the trusts and estates field.
Bar Admissions
Illinois, 1991
Missouri, 1980
Wisconsin, 1979
U.S. District Court for the Eastern District of Wisconsin
U.S. District Court for the Western District of Wisconsin
U.S. District Court for the Eastern District of Missouri
U.S. Tax Court
Professional Affiliations
American Bar Association
Section of Real Property, Probate and Trust Law
State Bar of Wisconsin
The Missouri Bar
Probate and Trust Committee
Illinois State Bar Association
Section on Trusts and Estates
The Bar Association of Metropolitan St. Louis
Probate and Trust Section, member and past Chairman
Estate Planning Council of St. Louis
Articles
"Gridlock Reigns Supreme," Trusts & Estates, May 2012
"The Perfect Storm," Trusts & Estates, January 2012
"Scratching Your Head Over 2010 Estate Plans?" Trusts & Estates, August 2010
"The Effective Use of Disclaimers in Estate Administration," Illinois Estate Administration, IICLE, 2009 (co-author with Eileen B. Trost and Michael E. Morden)
"Business Succession or Business Cessation? Passing the Torch Without Dousing the Flame," 42nd Annual Heckerling Institute on Estate Planning (Matthew Bender and Company/LexisNexis, June 2008)
"Sharing Exemptions? Not So Fast," Trusts & Estates, April 2008
"Peace in the Sandbox," Trusts & Estates, March 2008
"A Well-Intentioned Mistake: Revenue Procedure 2005-24," Trusts & Estates, January 2006
"Establishment and Administration of Dynasty Trusts," 57th Institute on Federal Taxation--Major Tax Planning for 2005 (Matthew Bender and Company/LexisNexis, 2005)
Presentations
"Wealth Transfer Planning After the 2010 Tax Act," 48th Annual Hawaii Tax Institute, Hawaii Tax Institute Foundation and Chaminade University of Honolulu, December 5, 2011
"Trustee Responsibility to Beneficiaries and Vice Versa," 48th Annual Hawaii Tax Institute, Hawaii Tax Institute Foundation and Chaminade University of Honolulu, December 6, 2011
"Valuation Discounts and Estate Planning – Not Necessarily a Marriage Made in Heaven," 30th Annual American Association of Appraisers Business Valuation Conference, October 10, 2011
"Trustee Discretion: You May Not Have What You Think You Have," Representing Estate and Trust Beneficiaries and Fiduciaries, ALI-ABA, July 14, 2011 (co-presenter with Thomas G. Opferman)
"GST Planning, Unique Issues in Light of the Temporary Federal GST Tax Repeal and Resulting Uncertainty," 47th Annual Hawaii Tax Institute, Hawaii Tax Institute Foundation and Chaminade University of Honolulu, November 2, 2010
"Wealth Transfer Advisor`s Industry Outlook - Where Are We Now and What Do We Do Next?," 47th Annual Hawaii Tax Institute, Hawaii Tax Institute Foundation and Chaminade University of Honolulu, November 1, 2010
"Estate Planning with Grantor Trusts," 46th Annual Hawaii Tax Institute, Hawaii Tax Institute Foundation and Chaminade University of Honolulu, October 22, 2009
"Often Overlooked Elements of Business Succession Planning," 46th Annual Hawaii Tax Institute, Hawaii Tax Institute Foundation and Chaminade University of Honolulu, October 21, 2009
"Business Succession Planning," 42nd Annual Philip E. Heckerling University of Miami School of Law Institute on Estate Planning, January 15, 2008
"Charitable Planning Update--The 2006 Legislation," 2006 Fall Meeting, The American College of Trust and Estate Counsel, October 13, 2006
"Establishment and Administration of Dynasty Trusts," 57th Institute on Federal Taxation, University of Southern California Law School, January 26, 2005
Recognitions
Received The Missouri Bar President's Award, 1991
Recognized in The Best Lawyers in America
Recognized as Best Lawyers' 2012 St. Louis Trusts and Estates Lawyer of the Year and 2012 St. Louis Litigation - Trusts and Estates Lawyer of the Year
Nationally ranked in Chambers USA in its "Wealth Management" category
Listed in the Who's Who in the World, Who's Who in America and Who's Who in American Law
