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Community Founcation of ann arundel county

Anne Arundel Estate
Planning Council

Trust Busting: Methods for Modifying Irrevocable Trusts   

On May 9, the AAEPC held its second successful event of 2019. The topic Trust Busting: Methods for Modifying Irrevocable Trusts is one with which estate planning professionals are wrestling more and more in light of changing exemption amounts, changes within families and other unforeseen changes in our clients’ circumstances. Christia A. Pritts, Esq. and Jennifer McManus, Esq. of Sims and Campbell, LLC gave an insightful presentation outlining the tools that Maryland estate planning professionals may use when a trust needs to be modified or even terminated.  They provided useful examples and references to the Maryland Trust Act, where applicable. The presentation concluded with an examination of the Uniform Trust Decanting Act and a discussion of what a decanting statute in Maryland may or may not include. Audience participation was lively which made the evening all the more enjoyable!  The AAEPC is grateful to Ms. Pritts and Ms. McManus for sharing their time and knowledge with our members and guests.
AAEPC MEMBER PROFILE
Name:  Diane Brewer
Profession: Certified Public Accountant 
Employer: HeimLantz CPAs and Advisors, Annapolis Office
How long have you been in practice? I have been in public accounting since 1986, with the exception of 3 years in private accounting as an Assistant Controller for a construction company. My current practice involves business and personal income tax matters with a concentration in estate and trust tax compliance. I also assist with estate administration and have become involved in pre-mortem planning for my clients. Not surprisingly, my efforts on behalf of my clients with estate administration and post-mortem matters led me to broaden my practice to include an emphasis on pre-mortem planning, as it is much easier and effective to plan before death.  
What aspect or aspects of your work/profession do you most enjoy? As I have expanded my practice to include estate administration, I enjoy assisting personal representatives who are grieving a loss and faced with tasks, deadlines, filings, and many other issues. It is a privilege to assist the client as they navigate this process during what is often a very difficult time, I also enjoy working with the (estate) attorney and financial broker.
How is the Anne Arundel Estate Planning Council (AAEPC) useful to your practice? Other professionals in the community?  I view the benefits of the AAEPC as twofold. First, the AAEPC provides opportunities for networking and business development through the many events hosted throughout the year. Second, and perhaps more importantly, the AAEPC builds a sense of comradery for its members. We have a group of colleagues that we are able to reach out to if we are grappling with an issue to bounce ideas around and problem solve. This sense of “sticking together” is an invaluable benefit of the AAEPC.
Outside of work, what activities/hobbies do you enjoy? I love to read. Romance novels are my favorite genre. I also love to travel. Although both of these hobbies are neglected during tax season!
Tell us a fun fact about yourself or something that might surprise others to learn about you? When my youngest child started college, I returned to school to obtain my Masters in Taxation in conjunction with the University of Baltimore Law School. I am almost there! My anticipated graduation date is December of 2019.
CASE STUDY - COLLABORATION PROJECT 
The AAEPC November Event will be a Collaborative Case Study designed for interdisciplinary groups of 3-4 members to work together on a simulated set of Estate Planning Facts. Up to 3 groups may register and will be given the opportunity to present their ideas and solutions to the attendees of the November 21 Event. Registration is open NOW and will continue through May 31. The scenario will be circulated on June 1, 2019.

You may sign up by emailing the following information to Leanne Broyles at leanne.broyles@frosttaxlaw.com by May 31.

Contact Person for Your Team
Name, Email, and Discipline for Each Team Member

Your team members should be comprised of at least 3 different disciplines (i.e. Attorney, Accountant, Financial Advisor). 
Project Timeline:

May 31:  Assemble and register your team with the Project Monitor.  
June 1:   Scenario will be distributed to registered teams. 
June - October: Each team should meet and prepare their plan and decide how to present that plan. 
November 21:  AAEPC Event presentation of the plans by each team. 
UPCOMING 2019 AAEPC EVENTS
Education Events (6:00 pm – 8:00 pm at Hotel Annapolis)
  • September 19, Unique Assets and How to Handle Them
    Presented by: Sam Freeman, Freeman's Auction
  • November 21, Case Study - Collaboration Project
Networking Events: Wine Down Wednesday - Sponsored by Severn Bank (5:30 pm – 7:30 pm at Red Red Wine Bar)
  • June 26
  • August 28
  • October 30
The Anne Arundel Estate Planning Council would like to thank our 2019 Advertising Sponsors:
The mission of the Anne Arundel Estate Planning Council is to provide opportunities for wealth planning professionals from various disciplines to interact, share ideas and build relationships that will allow them to better serve their clients and the community. The Council provides quarterly educational programs and networking events for professional advisors. The Community Foundation of Anne Arundel County provides staff and event support to the AAEPC. 
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914 Bay Ridge Rd # 220 | Annapolis, MD 21403-3994 US



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