Estate Buy Back Strategy and it’s Practical Limitations’

Date: Tuesday, May 26, 2015
Time: 4:30pm - 7:00pm
Location: University Club of Santa Barbara
Speaker: Andy Katzenstein, Roy Martinez and Paul DeLauro, City National Bank

A discussion of the complexities around reacquiring low-basis assets from a Grantor Trust as a result of the cumulative effect of higher Federal Capital Gains and CA State Income Taxes, and the Obamacare 3.8% tax and the understanding that many of the low-basis asset transfers done in 2012, although done for the right reasons, are turning out to be less effective than originally hoped


Andrew Katzenstein, Proskauer Rose, LLP

Andrew M. Katzenstein is a partner in the Personal Planning Department where he assists high net worth individuals, companies and charitable organizations with all aspects of tax and estate planning. He focuses his practice on tax planning matters, which include estate, gift and generation-skipping tax planning, as well as income tax of trust planning, probate and trust administration matters, resolving disputes between fiduciaries and beneficiaries, and charitable planning.

Chambers USA 2012 ranks Andy among the leading tax attorneys in the country and, based on client interviews, singled him out for his helpfulness and creativity. A client is quoted as saying, "he always contributes added value."

Andy is a much sought-after speaker on estate planning and probate issues and has recently appeared on CBS’ 48 Hours Mystery, NPR, and served as host of KFNX’s weekly radio talk show “Principal of the Matter,” which addressed a variety of trust and estate planning topics. He has published numerous articles in Estate Planning Magazine, the Journal of Taxation and Taxes Magazine, and was one of the principal contributors to the probate treatise "Marshall and Garb on Probate."

A frequent lecturer on a variety of estate planning and tax related topics, appearing annually before the Los Angeles County, Beverly Hills and California State Bar Associations, Andy also has participated in the prestigious USC Tax Institute and the USC Probate and Trust Law Conference, and has lectured in Europe, Canada and across the United States. Andy has taught estate and gift tax law at USC Law School since 2009 and has taught estate tax at UCLA Law School since 1992. He previously taught estate planning and advanced estate planning in the Graduate Tax Program at the University of San Diego and at Golden Gate University.


Roy Martinez

Vice President Senior Private Banker

Roy Martinez is a Senior Private Banker with City National Bank’s Private Client Services team. Based in the Central Coast Regional Center, he works with a team of wealth management professionals focused on helping high net worth clients achieve their goals through the coordinated delivery of customized, comprehensive financial services.

Mr. Martinez has more than 33 years of banking experience in lending, interna­tional banking, cash management, and wealth management. Prior to joining City National Bank, he worked for Union Bank/Santa Barbara Bank & Trust, U.S. Trust, and Security Pacific National Bank. Lever­aging his broad experience, he helps to meet the complete financial needs of clients.

He is active in the community and currently serves on the Board of Directors for Court Appointed Special Advocates of Santa Barbara County.


Paul DeLauro, J.D., CTFA

Senior Vice President Wealth Planner

Paul E. DeLauro serves as manager of Wealth Planning for City National Bank. Paul provides comprehensive estate and financial planning services to City National clients, including entrepreneurs, professionals, entertainment professionals, and their families.

Mr. DeLauro joined City National from US Trust/Bank of America Private Wealth Management, where he was a senior vice president and regional trust executive. With over 15 years of experience in wealth planning, Paul previously served as a vice president in the wealth planning department at First Hawaiian Bank during which time he authored Hawaii’s asset protection trust act. Paul is an expert in multiple areas of wealth transfer and financial planning, trust administration, asset protection trust law, and charitable tax planning.

Paul received his undergraduate degree from the University of Colorado, Boulder and his law degree from the University of Denver College Of Law. In addition, Paul studied income tax law at the University of Denver Graduate Tax Program.

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