RICHARD S. FRANKLIN
Member
rfranklin@fkl-law.com
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Recent Presentations
Background
Richard focuses on estate planning, trusts and estate administration, and beneficiary and fiduciary representation. He is a member of the District of Columbia and Florida Bars, and a Fellow of the American College of Trust and Estate Counsel. He serves on the ACTEC Tax Policy Study Committee and chairs the Well-Being Subcommittee of the Practice Committee. He has spoken at numerous estate planning programs and written on estate planning topics for ACTEC Law Journal, Actionline, BNA Insights, Estate Planning, Journal of Multistate Taxation and Incentives, Probate & Property, Steve Leimberg’s Newsletters, Tax Notes, The Florida Bar Journal, The Washington Lawyer, Trusts & Estates, and the Bloomberg/BNA Estates, Gifts & Trust Journal. Richard is a DC Super Lawyer®, has been named a Top Lawyer in Washingtonian's biennial lists, is ranked in The Best Lawyers® in America as a leading lawyer in the Trusts and Estates category, and rated AV® Preeminent™ by Martindale Hubbell. Prior to joining Virginia McArthur and founding McArthur Franklin and then Franklin Karibjanian & Law PLLC, Richard was a partner at Pillsbury Winthrop Shaw Pittman LLP.
Richard is a frequent speaker known for his lively and incisive presentations on estate planning. His venues have included continuing legal and professional education programs, estate planning councils and other groups, conferences and webinars. Richard speaks on topics that reflect his deep interests, and includes specific ideas that he recommends to clients and implements on their behalf. His focus for presentations is always on creative and innovative approaches to estate planning.
In addition to the writings listed below under Recent Publications, Richard also authors short Posts in the Family Wealth Series, which can be found in the drop down menu under Resources. The most recent Posts in Family Wealth Series II are linked here.
Education
LL.M. Estate Planning, University of Miami School of Law, 1988
J.D., University of Alabama School of Law, 1987 (Law Review)
B.A., University of Alabama Birmingham, 1984
Bar Memberships
District of Columbia, 2004
Florida, 1988
Professional Affiliations
American College of Trust and Estate Counsel – Tax Policy Study Committee
American Bar Association – Real Property, Trust & Estate Section Income and Transfer Tax Planning Group (Group Co-Chair, 2015-2017)
Florida Bar Association – Real Property, Trust & Estate Section
Washington, D.C. Estate Planning Council
Bloomberg BNA Estates, Gifts, and Trust Advisory Board
Recent Publications
July 2023
When Does Inheritance Better Support Well-Being - A Poster
(IPPA World Congress on Positive Psychology, July 2023, Vancouver, Canada)
Co-AuthorSeptember 2022
A Framework for Family Wealth and Well-Being
(WEALTH OF WISDOM, chapt. 4, Wiley 2022)
Co-AuthorMay 13, 2021
Wealth and Well-Being - What Wealthy Families Can Learn from Sovereign Government Policies and Measuring Human Progress
(Bloomberg Estates, Gifts and Trusts Journal, Vol. 46, Number 3)
Co-Author
May 7, 2020
Well-Being Supported by Family Wealth - A Foundation to Flourish
(Bloomberg Estates, Gifts and Trusts Journal, Vol. 45, Number 3)
Co-AuthorMarch 14, 2019
The Lifetime QTIP Trust - the Perfect (Best) Approach to Using Your Spouse’s New Applicable Exclusion Amount and GST Exemption
(Bloomberg Estates, Gifts and Trusts, Number 2)
Co-AuthorMay 10, 2018
Alimony, Prenuptial Agreements, and Trusts Under the 2017 Tax Act
(Bloomberg Estates, Gifts and Trusts, Number 3)
Co-AuthorNovember/December 2016
An Oxymoron? The Deathbed Lifetime QTIP for Basis Adjustment and Asset Protection
(Bloomberg Estates, Gifts and Trusts, Vol. 41)
Co-AuthorJanuary 2016
Lifetime QTIPs: Why They Should be Ubiquitous in Estate Planning
(50th U. Miami Heckerling Inst. Est. Plan ¶16, 2016, U.Miami)
AuthorOctober 2014
Creatively Using Lifetime and Testamentary QTIPS - A Federal and Washington Perspective
(59th Annual Estate Planning Conference, Washington State Bar Association, Chapter Ten-A)
Co-AuthorSeptember 15, 2014
Inter Vivos QTIP Trusts Could Have Unanticipated Income Tax Results to Donor Post-Divorce
(Steve Leimberg's Estate Planning Newsletter #2244)
Co-AuthorSeptember 11, 2014
Portability and Second Marriages - Worth a Second Look
(Vol. 39, No. 5 of BNA/Tax Management's Estates, Gifts & Trusts Journal 179)
Co-AuthorFebruary 2014
IRS Provides Relief for Certain Missed Portability Elections -- if Corrective Action is Taken in 2014
(ABA, RPTE Section, eReport February 2014)
Co-AuthorJanuary 6, 2014
A New Framework for Estate Planning in a Portable World
(LISI Estate Planning Newsletter #2178)
Co-AuthorWinter 2013
The Intermediary CLAT Alternative to the Residuary Estate Family Foundation Gift
(ACTEC Law Journal, Vol. 39, No. 3, 355)
Co-AuthorJanuary 2013
The Game Changer
(ABA, RPTE Section, Estate and Gift Committee Project)
Co-AuthorJanuary 2013
Portability – The Regulations
(ABA, RPTE Section, Estate and Gift Committee Project)
Co-AuthorSeptember 2012
Add to Your 2012 Year End Checklist "Use DSUE in 2012"
(BNA Insights)June 18, 2012
New Portability Regulations: Much Better Than Expected
(Steve Leimberg's Estate Planning Email Newsletter #1976)
Co-AuthorMarch-April 2012
Portability's Role in the Evolution Away from Traditional By-Pass Trusts to Grantor Trusts
(Vol. 37, No. 2 of BNA/Tax Management's Estates, Gifts and Trusts Journal)
Co-AuthorJanuary 2012
Portability - Part One
(ABA, RPTE Section, Estate and Gift Committee Project)
Co-AuthorNovember 10, 2011
Donee Selection and Practical Considerations Under Formula Allocation Clauses
(Vol. 36, BNA/Tax Management's Estates, Gifts and Trusts Journal 271)
Co-AuthorSeptember 2011
Interaction Between the New Federal Estate Tax Structure and State Death Taxes
(Vol. 150, Trusts & Estates, p.28)
Co-AuthorJanuary 2011
Tax Relief Unemployment ReAuthorization, and Job Creation Act of 2010
(ABA, RPTE Section, Estate and Gift Committee Project)
Co-AuthorNovember 2010
Beyond the Rhetoric: Same–Sex Marriage and Multijurisdictional Problems in Administration of Trusts
(25, No. 3, Washington Lawyer, p.29)
Co-AuthorJuly 20, 2010
"Roth" the Traditional IRA or Give to Charity
(Steve Leimberg's Employee Benefits and Retirement Planning Email Newsletter)
Co-AuthorJanuary 18, 2010
Roth IRA Recharacterizations and Reconversions – 10 Strategies
(126, No. 3, Tax Notes, p. 319)
Co-Author
Recent Presentations
January 18, 2024
Promoting Beneficiary Well-Being in Trust Drafting
(Special Committee On Career and Wellness of the ABA Section of Real Property, Trust and Estate Law & Section of Taxation)September 5, 2023
The Intersection of Well-Being and Trust Planning
(ACTEC Trust and Estate Talk Podcast, Episode 265)August 8, 2023
A Framework for Family Wealth and Well-Being
(Wealth of Wisdom Podcast, Episode 79 - Keith Whitaker)
Co-PresentedJune 24, 2023
Well-Being Trusts
(Practice Committee Meeting, ACTEC Summer Meeting)
Washington, D.C.
June 8, 2023
Positive Psychology for Family Wealth and Inheritance Planning
(The Best Podcast Ever - Dr. Olena Berezovska - Virtual)
Co-PresentedFebruary 8, 2023
Return on Well-Being: Family Well-Being as an Investment
2023 Purposeful Planning Symposium (Purposeful Planning Institute - Virtual)
Co-PresentedOctober 20, 2022
Presented “Well-Being Trusts - the Future of Imbuing Trusts with Positivity, Meaning and Purpose”
(Estate Planning Council of Lee County)
Fort Myers, FloridaMarch 3, 2022
Presented “Roundtable - Well-Being Trust Planning”
(Palm Beach County Estate Planning Council)
Palm Beach, FloridaFebruary 10, 2022
“Well-Being as an Integrative Approach to Family & Wealth”
2022 Purposeful Planning Symposium (Purposeful Planning Institute — Virtual)
Co-PresentedJanuary 21, 2022
“Well-Being Trusts - the Future of Imbuing Trusts with Positivity, Meaning and Purpose”
(Southern Arizona Estate Planning Council — Virtual)
October 27, 2021
Family Wealth & Well-Being: Rethinking Traditional Inheritance Planning, Chevy Chase Trust
A Virtual Event, Chevy Chase Trust
Co-PresentedJune 15, 2021
How Family Wealth Planning is Evolving to Benefit Every American Family
Taxgirl Podcast with Kelly Phillips Erb, Episod 49
Co-Presented
April 21, 2021
Presented “Well-Being Trusts — the Future of Imbuing Trusts with Positivity, Meaning and Purpose”
(National Association of Estate Planners & Councils — Virtual)January 28, 2021
Presented “Self-Determination Activates the Well-Being Benefit of Philanthropy in Trusts & Estates” at the D.C. Bar’s Estates, Trusts and Probate Law Community program “Planning With Philanthropy — How to Discuss Charitable Giving with Your Clients”
(D.C. Bar Communities Program)January 27, 2021
Presented “Well-Being Trusts — the Future of Imbuing Trusts with Positivity, Meaning and Purpose”
(Chicago Estate Planning Council - Virtual)July 2020
Presented “Drafting to Improve Wellbeing: Imbuing Trusts with Positivity, Meaning and Purpose”(2020 RendeZoom, Live Virtual Summit, Purposeful Planning Institute)
April 21, 2020
Co-Presented “Investing in Beauty as a Family Strategy”
(Purposeful Planning Institute, Webinar)October 2019
Led 4 hour panel with 4 other co-presenters entitled “Estate Planning in the 21st Century: Using Positive Strategies to Foster Client Happiness and Well-Being.” Richard’s paper was entitled “Well-Being Supported by Family Wealth — A Foundation to Flourish”
(2019 ACTEC Fall National Meeting, Lowes Hotel, Philadelphia, Pennsylvania)July 2019
Portability - So Many Questions, So Few Clear Answers
(Skills Training for Estate Planners, South Carolina School of Law, Columbia, South Carolina)July 2018
Co-Presented: Alimony, Prenuptial Agreements, and Trusts under the 2017 Tax Act
(Bloomberg Talking Tax Podcasts - Parts I and II)December 11, 2017
Panelist discussing Pending Tax Bill Legislation
(The Meltzer Group Luncheon Seminar: Tax Reform, The Four Seasons Hotel, Washington, DC)February 15, 2017
Presented: "Preservation of Family Capital through the Generations"
(Seattle Estate Planning Council, Seattle, Washington)January 20, 2017
Co-Presented: "Never Pay Estate Taxes - The Annual Taxable Gift Approach with a CLAT Remainder"
(46th Annual Estate Planning Seminar, Estate Planning Council of Portland, Oregon)January 11, 2017
Co-Presented: "Extraordinary, Efficient, Elegant, Evolutionary: The Annual Taxable Gifts Approach and Testamentary CLAT Remainder"
(51st Heckerling Institute on Estate Planning)December 15, 2016
Co-Presented: "Trump Tax Proposals and their Effect on Planning"
(ABA/RPTE eCLE Webinar)November 18, 2016
Co-Presented: "Never Pay Estate Taxes - The Annual Taxable Gifts Approach and Testamentary CLAT Remainder"
(2016 Federal Tax Institute of New England CLE, Hartford, Connecticut)November 11, 2016
Presented: "Lifetime QTIPs: Why Should They Be Ubiquitous in Estate Planning?"
(65th Annual Tulane Tax Institute, New Orleans, Louisiana)October 27, 2016
Co-Presented: "The Merits of Lifetime Taxable Gifts and Efficiently Transferring Wealth Using Testamentary CLATs to Eliminate All Transfer Taxes and Transfer Assets to a Family Foundation"
(42nd Annual Notre Dame Tax and Estate Planning Institute, South Bend, Indiana)October 19, 2016
Co-Presented: "Pay No Estate Taxes - The Annual Taxable Gift Approach"
(Charlotte Estate Planning Council, Charlotte, North Carolina)October 4, 2016
Co-Presented: "Lifetime QTIPs: Why They Should be Ubiquitous in Estate Planning"
(ABA/RPTE eCLE Webinar)May 13, 2016
Presented: "Never Pay Estate Taxes - the Annual Taxable Gifts Approach"
(ABA Spring Trusts & Estates Symposia, Boston, Massachusetts)May 12, 2016
Presented: "Taxation of Trusts After Divorce: Grantor Trusts, Section 682 and International Considerations"
(ABA Spring Trusts & Estates Symposia, Boston, Massachusetts)May 11, 2016
Presented: "Creative Estate Planning Strategies for Using Lifetime QTIPs in Lieu of Portability"
(ALI CLE Estate Planning Conference, Philadelphia, Pennsylvania)May 6, 2016
Presented: "The Annual Taxable Gift Approach"
(Carter Center's Planning Giving Advisory Council, Atlanta, Georgia)May 5, 2016
Presented: "Creative Estate Planning Strategies for Lifetime QTIPs"
(Maryland State Bar Association, 2016 Advanced Estate Planning Institute, Columbia, Maryland)April 28, 2016
Presented: "Lifetime QTIPs: Why Should They Be Ubiquitous in Estate Planning?"
(Washington, D.C. Estate Planning Council, McLean, Virginia)April 18, 2016
Discussed "Creative Estate Planning Strategies for Lifetime QTIPs"
(Wells Fargo Wealth Planning Educational Call)January 14, 2016
Presented: "Lifetime QTIPs: Why They Should be Ubiquitous in Estate Planning"
(50th Heckerling Institute on Estate Planning)January 14, 2016
Co-Presented: "Lifetime QTIPs: Tax and Asset Protection Strategies and Post-Divorce Concerns"
(50th Heckerling Institute on Estate Planning)September 18, 2015
Presented: "Marital Deduction and Portability"
(Florida Fellows Institute, Tampa, Florida)June 16, 2015
Co-Presented: "Annual Taxable Gifts Approach"
(Wilmington Tax Group, The University and Whist Club, Wilmington, Delaware)April 7, 2015
Presented: "Creative Estate Planning Strategies for using Lifetime QTIPs"
(ABA Section of Real Property, Trust and Estate Law Webinar)February 10, 2015
Presented: "The Intermediary CLAT Alternative to the Residuary Estate Family Foundation Gift"
(East Coast Estate Planning Council, West Palm Beach, Florida)October 31, 2014
Presented: "Creatively Using Lifetime and Testamentary QTIPs -- A Federal and Washington Perspective"
(WSBA Seattle 59th Annual Estate Planning Seminar, Seattle, Washington)October 28, 2014
Presented: "The Intermediary Charitable Lead Annuity Trust Alternative to the Residuary Estate Family Foundation Gift"
(Estate Planning Council of Montgomery County, Bethesda, MD)October 22, 2014
Presented: "Creative Estate Planning Strategies for Using Lifetime QTIPs"
(ALI CLE Video Webcast, Philadelphia, PA)October 1, 2014
Presented: "The Intermediary Charitable Lead Annuity Trust Alternative to the Residuary Estate Family Foundation Gift"
(ABA/RPTE Charitable Planning and Organization Group's Teleconference)September 14, 2014
Co-Presented: "And Now for a Word from Our Sponsor: QTIP - Lifetime QTIPs"
(ACTEC 2014 Mid-Atlantic Regional Meeting, Washington, DC)June 13, 2014
Presented: "Portability: Too Propitiously Practical to Pontificate its Profligate Properties"
(33rd Annual Attorney/Trust Officer Conference, Naples, FL)June 10, 2014
Co-Presented: "Advanced Portability Strategies in Estate Planning: Navigating Asset Composition, Decoupling, GST Exemption Issues and More"
(Strafford Publications Webinar)May 26, 2014
Presented: "Portability - The Game has Changed"
(Estate Planning Council of the Emerald Coast, Destin, FL)May 22, 2014
Presenter: "Word on the Street: Planning with Portability"
(WealthCounsel webinar)May 2, 2014
Co-Presented: "Seeking and Finding New Silver Patterns in a Changed Estate Planning Environment: Creative Inter Vivos QTIP Planning"
(ABA RPTE Spring Symposia, Chicago, IL)March 12, 2014
Co-Presented: "Portability: An Update for Estate Planners"
(ALI Webinar)January 15, 2014
Co-Panelist: "Clinical Trials with Portability"
(48th Heckerling Institute on Estate Planning)October 25, 2013
Presented: "The Intermediary CLAT Alternative to the Residuary Estate Family Foundation Gift"
(ACTEC 2013 Fall Meeting, Fort Worth, Texas)October 10, 2013
Co-Presented: "Portability: The Game Has Changed"
(Strafford Publications Webinar)September 10, 2013
Presented: "Mirror, Mirror on the Wall, is Portability Fairest of All?"
(Estate Planning Committee of the Tax Section of the District of Columbia Bar, Washington, DC)September 9, 2013
Moderated: "What Estate Planning Attorneys Need to Know about Health Care Reform and Related Taxes"
(The District of Columbia Bar, Washington, DC)Aug. 6, 2013
Co-Presented: "Portability: The Game Has Changed"
(ABA/RPTE eCLE Webinar on Planning with Portability)June 20, 2013
Moderated: "Annual Update of DC, MD & VA Legislation and Court Cases Relevant to Estates & Trusts"
(Estates, Trusts & Probate Law Section of the District of Columbia Bar, Washington, DC)May 30, 2013
Presented: "Portability: The Game Changer"
(The Anne Arundel Estate Planning Council, Annapolis, MD)May 29, 2013
Presented: "Portability: The Game Changer"
(Maryland State Bar Association Advanced Estate Planning Institute, Columbia, MD)May 28, 2013
Presented: "Mirror, Mirror on the Wall - Is Portability Fairest of All?"
(ACTEC MD/DC/VA Spring Meeting, Chevy Chase, MD)May 4, 2013
Presented: "Portability: A Game Changer for Estate Planning?"
(The 35th Annual UCLA/CEB Estate Planning Institute, Los Angeles, CA)May 3, 2013
Program Chair and Moderator of Panel Presentation: "Care and Feeding of 2012 Estate Plans"
(ABA-RPTE Spring CLE Symposium, Washington, DC)March 13, 2013
Presented: "Portability: A Game Changer for Estate Planning?"
(SunTrust Private Wealth Management, Washington, DC)March 8, 2013
Presented: "Portability and Asset Protection Planning"
(ACTEC 2013 Annual Meeting, Asset Protection Committee, Maui, HI)March 6, 2013
Co-Presented: "Portability: Panacea? Pariah? Placebo?"
(ACTEC 2013 Annual Meeting, Estate and Gift Committee, Maui, HI)January 25, 2013
Co-Presented: "Portability: Panacea? Pariah? Placebo?"
(ABA Tax Section's 2013 Mid-Year Meeting, Orlando, FL)November 30, 2012
Presented: "Portability – Panacea? Pariah? Placebo?"
(The Florida Bar’s Estate Tax and Asset Protection Seminar, Tampa, FL)November 15, 2012
Presented: "Fleeting Tax Planning Opportunities for 2012"
(ABA-RPTE Teleconference/Webinar)November 9, 2012
Presented: "Hot Topics: Trust & Estate Division"
(ABA-RPTE Fall Leadership Meeting, Palm Beach, FL)October 23, 2012
Presented: "Fleeting Tax Planning Opportunities for 2012"
(Estate Planning Council of Suburban Maryland, Inc., Bethesda)September 26, 2012
Co-Presented: "Fleeting Opportunities to Make Changes for the 2012 Tax Year"
(Estates, Trusts & Probate Law Section of the DC Bar, Washington, DC)September 7-9, 2012
Co-Presented: "Portability: Pariah, Panacea, or Placebo"
(2012 Mid-Atlantic Regional Meeting, Verona, New York)May 3-4, 2012
Co-Presented: "Back to the Future: Planning with Portability, 'I Love You' Wills and Riding into the Sunset" (23rd Annual RPTE Spring Symposia New York, New York)April 11, 2012
(Co-Presented program on Trust & Estate Law)
Rossdale CLE WebinarApril 25, 2012
Co-Presented: "Complex Assets: The Most Overlooked Charitable Donations"
(The Fidelity Charitable Gift Fund, Washington, DC)November 15, 2011
"Intra-Family Loans and Loan Forgiveness"
(Estate Planning Committee of the D.C. Bar's Taxation Section, Washington, DC)
Co-Presented with Virginia McArthurSeptember 15, 2011
Presented: "Donee Selection and Practical Considerations Under Formula Allocation Clauses"
(BNA/Tax Management - Estates, Gifts, and Trusts Advisory Board Meeting, New York, New York)June 17, 2011
Co-Panelist: "IRAs…Love them or leave them, trust them or convert them…and are they protected"
(Florida Bar's 30th Annual Attorney/Trust Officer Liaison Conference, Palm Beach, Florida)April 20, 2011
"CLE/CPE webinar on Estate Planning Tax Issues for 2011: Navigating the New Landscape for Estate, Gift and Generation Skipping Taxes"
(Strafford Publications Webinar)April 5, 2011
Co-Presented: "Same-Sex Spouses, Partners and Section's eCLE Adult Adoptions: Trust Administration Issues Presented by Beneficiary Relationships"
(ABA-RPTE Teleconference/Web Cast)March 1, 2011
Co-Presented: "Donee Selection and Other Practical Considerations Under Petter Type Formula Allocation Clauses"
(ABA-RPTE Section's eCLE Program)February 2, 2011
Co-Presented: "Effective Trust & Estate Planning"
(The Rossdale Group Webinar)November 19, 2010
"Estate Planning in an Ever Changing Environment Looking Back and Forward in 2010"
Orlando, Florida
Florida Bar CLE Program, specifically on:Proliferation of a Potpourri of Post-Petter-Planning Techniques
"Hot Topics" - The Future of the Estate Tax and Planning for the Balance of 2010 and Beyond
November 5, 2010
Planning Without an Estate Tax: 2010 Year-End Estate, Gift and Generation-Skipping Planning
(BNA Webinar)October 21, 2010
Montgomery/Prince George's Tax Study Group in affiliation with the MD State Bar Tax Section about Roth IRAsSeptember 23-25, 2010
2010 ABA Fall Joint Tax Meeting
Toronto, CanadaSpoke on a panel on "Same-Sex Spouses, Partners and Adult Adoptions: Trust Administration Issues Presented by Beneficiary Relationships"
Moderated a discussion on "Donee Selection and Other Practical Considerations Under Petter Type Formula Allocation Clauses"
November 10, 2009
Roth IRA Conversion Strategies, District of Columbia Bar
(Taxation Section/Estate Planning Committee)October 7, 2009
GRATs and GRUTs: Evaluation Estate Planning Options
(Strafford Publications Webinar)May 19, 2009
Estate Tax Planning Strategies for Wealthy Clients
(Strafford Accounting Teleconferences)