Asking the trusts and estates folks:
Is an LLM a necessity for young attorneys who want to practice in the area?
Any essential resources (books, podcasts, CLEs, etc.) that you'd recommend to practitioners looking to eventually pivot into T&E?

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No, but it is useful to get the attention of practices that you may want to join, especially if you do not have prior experience. You can try Heckerling for CLE. Feel free to DM me - I practice exclusively in this area.

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No, definitely not. But you DO need to know what you’re doing when drafting and advising so if you’re not in a practice that can help teach you then CLEs are your best friend. This was a significant part of my practice in years 2-7 of private practice. In year 8 I went in-house and only deal with it on the beneficiary side at work and as a side gig occasionally. The laws change more frequently than a non-T&E lawyer might expect so be prepared to continually educate yourself in the area - the great thing about it is you’ll always find CLEs that can keep you up to date.

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It's not necessary, but it is invaluable. As someone with an LLM, I cannot say loudly enough how important a strong understanding of tax law is when working with folks who will end up with larger and/or complicated estates. Federal estate tax exemption may be sky-high, but many states have local taxes with much lower exemptions to plan around. Also, a strong understanding of how the structure of the estate plan can impact income taxes, not just estate taxes. I think it's probably possible to learn this stuff independently, but if you can even just audit estate & gift tax, trust income tax, and estate planning classes from the LLM program you are considering, I think it's worth the cost. Business succession planning was a great class too.

For resources, check out Business Planning by Dwight Drake, anything by Natalie Choates for planning around retirement accounts, and Price on Contemporary Estate Planning by John Price and Samuel Donaldson is a good (expensive) resource.

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The ACTEC podcast is also a wonderful resource, but may leave more for you to explore since the podcasts are generally 10-12 minutes in length.

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I had no idea there was an ACTEC podcast thank you!!!!!

My wife is an LLM in elder law, as well as a CELA through NAELA, and when we discuss matters at home I can't fathom how someone can dabble in this area of the law. It is so complicated with Federal rules, State rules, tax, medicare/medicaid protocols and rules, administrative law, civil law and procedure.... half the time I have no idea what she's talking about. In fact, a significant part of her practice is working to undo the screw ups of less qualified prior counsel. I'm a certified trial attorney and an experienced litigator, and this stuff is beyond me. An LLM may not be "necessary", but I would agree that it is an invaluable tool to actually be good in this practice area.

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