NAEPC Webinars:

Wednesday, March 11, 2020 at 3:00pm - 4:00pm ET - Charitable Giving and Tax Planning Strategies in the TCJA Era

Source: The Robert G. Alexander Webinar Series

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The tax act formerly known as the Tax Cuts and Jobs Act (TCJA) fundamentally altered the charitable giving and tax planning landscape for all donors. In this program, the presenter will summarize the major tax law provisions that impact charitable giving and donors, and identify and discuss key charitable giving and tax planning opportunities and strategies available to donors today.

Patrick J. Saccogna, JD, LL.M. (taxation), CPA*, AEP®, is a partner in the Personal & Succession Planning practice group of Thompson Hine LLP, in Cleveland, Ohio, and focuses his practice on counseling high net worth individuals, families, and closely-held businesses in a wide range of personal, charitable, business, tax, multi-generational wealth transfer, asset protection, and succession planning matters, and representing fiduciaries and beneficiaries in estate and trust administration, tax compliance, and fiduciary litigation matters. Patrick is a Fellow in the American College of Trust and Estate Counsel (ACTEC), a Certified Public Accountant (CPA) in Ohio, and is an Ohio State Bar Association (OSBA) Board Certified Specialist in Estate Planning, Trust and Probate Law. Patrick is currently serving as the Chair of University Hospitals' Diamond Advisory Group, is a past President of The Estate Planning Council of Cleveland, a past Chair of the Estate Planning, Probate, and Trust Law Section of the Cleveland Metropolitan Bar Association, a past Chair of Case Western Reserve University's Estate Planning Advisory Council, is ranked in Chambers HNW 2019 (Ohio: Private Wealth Law), and received the Estate Planning Council of Cleveland's 2017 Distinguished Estate Planner Award. [* = inactive CPA status]

 

REGISTER HERE for the individual program. To purchase the 2020 webinar series, please click HERE.

 

 

 

Wednesday, April 8, 2020 at 3:00pm - 4:00pm ET - The Ethical Considerations of NYS DFS Reg 187, FINRA Rule IM2210 and the UPIA Relating to "Decision Support Material" Used by Life Insurance Producers and Attorneys CPAs and RIAs in the Life Insurance Decision Process

Source: The Robert G. Alexander Webinar Series

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On July 18th 2018, the New York Department of Financial Services (NY DFS) issued the nations first "clients Best Interest Rule". Similar to other Fiduciary Laws, this rule defines the meaning of “clients’ best interests” for life insurance product recommendations based on a careful, skilled, prudent, and diligent evaluation of costs, performance, and risks relative to benefits.  Additional states have announced their own Fiduciary legislation.

In this important, wide-ranging presentation, we will review the Best Interest Rule that raises significant ethical considerations for estate planners and life insurance producers serving fiduciaries and/or working under a fiduciary definition of “clients’ best interests” both in and outside New York.

Steven is uniquely qualified to help estate planning professionals better understand the ethical implications and new business opportunities created by the “new fiduciary era for life insurance”.  He helps CPAs, wealth managers and attorneys guide their clients’ insurance decisions based on this prudent process.

Steven is an expert in applying Prudent Investor guidelines to life insurance product selection/retention and portfolio management according to established and proven asset management doctrine.  He is guided by the Uniform Prudent Investor Act, FINRA Rule IM 2210, NY DFS Regulation 187 "Clients Best Interest" rule and lessons learned from the first adjudicated fiduciary lawsuit regarding Trust Owned Life Insurance AKA Cochran v. Key Bank.  

REGISTER HERE for the individual program. To purchase the 2020 webinar series, please click HERE.

Wednesday, May 13, 2020 at 3:00pm - 4:00pm ET - TBD

Source: The Robert G. Alexander Webinar Series

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Detailed information regarding this presentation will be posted soon.

REGISTER HERE for the individual program. To purchase the 2020 webinar series, please click HERE.

Wednesday, June 10, 2020 at 3:00pm - 4:00pm ET - Planning Team Revenue Opportunities Generated by New Tax Law

Source: The Robert G. Alexander Webinar Series

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Listen to this program if you are interested in how an insurance professional has used the recent tax legislation to help clients plan by including several members of the planning team. This intermediate level program will include multiple case examples.

Terri Getman is a nationally recognized lecturer, author and advisor to financial representatives who provide advice to families and privately-held business owners across the U.S. For more than 30 years Terri has specialized in the appropriate use of life insurance in client’s estate, business and executive benefit plans. Terri currently works for Diversified Brokerage Services, one of the largest life insurance brokerage general agencies, but for most of her career she held positions in advanced marketing at several large insurance carriers.  

REGISTER HERE for the individual program. To purchase the 2020 webinar series, please click HERE.

Wednesday, July 8, 2020 at 3:00pm - 4:00pm ET - TBD

Source: The Robert G. Alexander Webinar Series

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Detailed information regarding this presentation will be posted soon.

REGISTER HERE for the individual program. To purchase the 2020 webinar series, please click HERE.

Wednesday, August 12, 2020 at 3:00pm - 4:00pm ET - TBD

Source: The Robert G. Alexander Webinar Series

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Detailed information regarding this presentation will be posted soon.

REGISTER HERE for the individual program. To purchase the 2020 webinar series, please click HERE.

Wednesday, September 9, 2020 at 3:00pm - 4:00pm ET - Zen and the Art of Trust Modification

Source: The Robert G. Alexander Webinar Series

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Step back from the mind-numbing distinctions and details of particular decanting and nonjudicial modification statutes to focus on the universal issues that should be addressed when taking a trust into the shop and the nuts and bolts of getting your trust on the road again.

Susan T. Bart is a partner in the Private Clients, Trusts & Estates Group of the Chicago office of Schiff Hardin LLP. She is a Fellow of The American College of Trust and Estate Counsel (ACTEC) and Chair of its Estate and Gift Tax Committee. She was the Reporter for the Uniform Law Commission Trust Decanting Act.

REGISTER HERE for the individual program. To purchase the 2020 webinar series, please click HERE.

Wednesday, October 14, 2020 at 3:00pm - 4:00pm ET - International Planning

Source: The Robert G. Alexander Webinar Series

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Detailed information regarding this presentation will be posted soon.

REGISTER HERE for the individual program. To purchase the 2020 webinar series, please click HERE.

Wednesday, December 9, 2020 at 3:00pm - 4:00pm ET - TBD

Source: The Robert G. Alexander Webinar Series

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Detailed information regarding this presentation will be posted soon.

REGISTER HERE for the individual program. To purchase the 2020 webinar series, please click HERE.

Issue 33 – February, 2020

NAEPC Journal of Estate & Tax Planning

Editor’s Note: A Goodbye and Thank You to One of NAEPC’s Greats
Michael W. Halloran, CFP®, CLU®, ChFC®, RICP, WMCP, AEP® (Distinguished): A Master Among Us
Author: Susan P. Rounds, JD, CPA, LL.M., AEP®, TEP

Complimentary Webinar: Life Settlement Legal and Ethical Responsibility (Video)
Life settlement providers, who represent the institutional investors, have noticed the lack of life settlement discussions and education coming from planning professionals and are filling this void by increasing their direct-to-consumer marketing. Such direct marketing exploits a crack in the chain of fiduciary oversight and places senior clients in a position where they might enter into a contract to sell their life insurance policy without having any advocate at the table to protect their best interests in the life settlement process.
Learn more about the Robert G. Alexander Webinar Series.
Speaker: Jon B. Mendelsohn, CEO and Co-Founder of Ashar Group/Ashar SMV

Features

Life Insurance in the Client’s Best Interest: Seeing More Clearly in 2020 (PDF)
The regulatory landscape is changing. The author provides an in-depth analysis of 3 central developments and their potential impact on advice related to life insurance and life insurance products.
Author: Lawrence J. Rybka, JD, CFP®

Drafting Income Tax-Sensitive Trusts Under the New Tax Laws (PDF)
Tax law changes in 2017 and 2019 have altered the income tax consequences of utilizing trusts in estate planning. The authors outline current problems and propose solutions with sample language.
Authors: James G. Blase, CPA, JD, LL.M. and Ryan G. Polley, JD

What Advisors Should Know About Hybrid Long-Term Care Policies (PDF)
Hybrid policies are an alternative to existing stand-alone policies. Learn the 3 situations where hybrid polices are particularly attractive along with the benefits and drawbacks.
Reprinted with permission. Originally published in Trusts & Estates April 2019.
Authors: Henry Montag, CFP®, CLU® and Bill Boersma, CLU®, AEP®, LIC

7th Annual Trust Decanting State Ranking Chart (PDF)
Rankings based on ease of use and flexibility. Lower-ranked state statutes may have flexibilities that higher-ranked state statutes lack, so the reader should not necessarily conclude that a higher-ranked state is always better.
Reproduced courtesy of Leimberg Information Services, Inc. (LISI)
Author: Steven J. Oshins, JD, AEP® (Distinguished)

The Life Insurance-Other Financial Services Sectors Communications Gap (PDF)
A Modest Proposal: How the life insurance and financial services sectors can get on the same page using FINRA and NAIC regulated “math.”
Reproduced courtesy of ALM Media Properties, LLC
Author: Mark Whitelaw, BA Economics

Anticipating the Secret Scion in Estate Planning (PDF)
At-home DNA testing may potentially identify an unknown heir. Scott Rahn is an estate litigator with suggestions on proactively addressing this issue in your estate plan.
Author: Scott E. Rahn, JD

The Little Known and Understood Living Benefits of Life Insurance (PDF)
Identifies and explains 3 specific types of living benefits provided under a policy that only a minority of policy owners and advisors are aware of or understand.
Reproduced courtesy of The Senior Lawyer, New York State Bar Association
Authors: Henry Montag, CFP®, CLU® and Bill Boersma, CLU®, AEP®, LIC

Collecting Another Country’s Taxes—Recent Developments in the Canada U.S. Context (PDF)
Written by a newly-minted AEP® designee based in Toronto. Discusses the US-Canada Tax Treaty with respect to assistance in collection and exchanges of information and outlines several recent cases where taxpayers argued against the validity of the Treaty provisions.
First published by Ruchelman P.L.L.C. in Insights 6, no. 9 (2019).
Author: Sunita Doobay, JD, LL.M. (taxation), TEP, AEP®

Updated Estate Planning for Pets,
Pet Life Care Agreement,
Pet Life Care Trust Agreement (PDF)
This trio of docs includes new information explaining how to include a pet in an estate plan and provides a sample Pet Trust and Life Care Agreement.
Author: Virginia Kilmer, MBA

News Nook: A Compendium of Current Affairs

Practical Planner Newsletter Jun-Dec 2019 (PDF)
Author: Martin M. Shenkman, CPA/PFS, MBA, JD, AEP® (Distinguished)

What’s New for Social Security in 2020? (PDF)
Author: Bronwyn L. Martin, ChFC®, CLU®, MBA, CFS®, CRPC®, CMFC®, AEP®, CLTC, LACP

Tax Topics: Statutory Residency and Wynne (PDF)
Author: Blanche Lark Christerson, JD, LL.M. (taxation)

Helping a Family Member Pay for Disability-Related Expenses? An ABLE Account May Help (PDF)
Author: Bronwyn L. Martin, ChFC®, CLU®, MBA, CFS®, CRPC®, CMFC®, AEP®, CLTC, LACP

NAEPC Monthly Technical Newsletter
Reproduced courtesy of Leimberg Information Services, Inc. (LISI)