AI Practice Tips on Using it in Estate Planning

A quick overview of Practical useable applications of AI that estate planning practitioners can take and use now. This short video promises to give you useable ideas. It also serves as an introduction to the Notre Dame Tax and Estate Institute Wednesday session which will be devoted to AI for tax and estate planning practitioners. Machine learning and what it means to you and your clients. Establishing AI settings and how to verify. What are hallucinations and how can you practically avoid them, and what happened in the Mata case. How does AI use impact attorney client privilege, and what happened in the Heppner case? Ethical considerations affect all of these points. What are prompts and how to craft them better. What should your engagement letters include concerning AI? How practitioners might warn clients about improper use of AI. The IRS issues a recent alert about using AI in tax practice. It is a bar that is too high and does not address practical and important applications of AI in tax practice. What can practitioners do? Using AI to create timed agendas and learning objectives for CPE/CLE programs. Make an outline into a PowerPoint. Take dictation like long letters or transcripts of meetings and turn them into a letter, checklist, research, etc. AI can write a letter that is culturally, religiously or otherwise sensitive. When to use a tailored prompt and some considerations in crafting them. AI can prepare a draft trust amendment, a summary of a complex estate planning document. How and why to use AI transcription of meetings to get better results.

Speakers: Martin M. Shenkman, Esq. and Alan S. Gassman