NAEPC Webinars:

Wednesday, December 11, 2019 at 3:00pm - 4:00pm ET - The Effect of Longevity on Your Life Priorities

Source: The Robert G. Alexander Webinar Series

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We have added 20 years of life expectancy, just since 1950 and are adding 1 month for every year that goes by.  This “longevity bonus” presents us with many opportunities as well as challenges.  This presentation will address such challenges as planning for health and healthcare in retirement, the coming caregiving crisis, cognitive decline and Alzheimer’s Disease as well as the opportunity that longevity presents for us to pursue our calling in the form of work in retirement.  

Cynthia Hutchins is the Director of Financial Gerontology for Bank of America Merrill, and has more than 30 years of experience in the wealth management and retirement industry. In her role, Cynthia works closely with Merrill financial advisors to provide training, education, resources and thought leadership to engage clients on the topics of aging, longevity, retirement and later life planning.

Cynthia has been deeply involved in the development of a new approach to planning across seven Life Priorities and through various Life Stages. She was central to the creation of the Merrill Lynch Longevity Training Program, developed in partnership with the USC Leonard Davis School of Gerontology, to help Merrill financial advisors better understand and address the evolving needs of the nation’s aging population and their families. The Merrill Lynch Longevity Training Program received the Brandon Hall Award for Most Innovative Training in 2017.

Prior to her current role, Cynthia was the Merrill Lynch Retirement Specialist for the Mid-Atlantic Region, covering Washington, DC, Maryland and Northern Virginia. Prior to that role, Cynthia served as a Circle of Excellence financial advisor for 20 years.

Cynthia has served on the board of directors of the American Society on Aging (ASA). In 2015, she participated in the White House Conference on Aging Elder Justice Forum, and was also named to the inaugural PBS Next Avenue Influencers in Aging list. She is a frequent speaker on topics of aging and longevity and has spoken at various conferences including the Investments and Wealth Institute, Florida Conference on Aging,  San Antonio Society For Human Resource Management, Southern Women’s Show, Virginia Governor’s Conference on Aging and the American Society on Aging’s Aging In America Conference. 

Cynthia earned a BS in Business and Finance from Towson University, and a MA in Gerontology from the University of Southern California. She has earned the Chartered Retirement Plan Consultant (CRPC) designation through the College for Financial Planning, and the Certified Investment Management Analyst (CIMA) designation through the Wharton School at the University of Pennsylvania and the Investments and Wealth Institute (IWI). Cynthia holds the Series 7, 24, 63 and 65 securities licenses.      

REGISTER HERE for the individual program. To register for the 2019 webinar series, please click HERE.

Wednesday, January 8, 2020 at 3:00pm - 4:00pm ET - Reverse Mortgages

Source: The Robert G. Alexander Webinar Series

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Detailed information regarding this presentation will be posted soon.

Wednesday, January 29, 2020 at 3:00pm - 4:00pm ET - Complimentary Sponsored Webinar: Life Settlement Legal and Ethical Responsibility

Source: The Robert G. Alexander Webinar Series

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Disruption is the new normal for many planning professionals that work with their clients in a fiduciary capacity. It's difficult for any fiduciary to feel comfortable today working with clients on matters that are outside of their area of expertise. This is especially true with life settlements.

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. 

We will discuss multiple disruptive factors that have negatively impacted senior clients and show how we arrived at a point where so many seniors are not represented by a fiduciary when they sell their policy on the secondary market. We will review life settlement regulations, laws, and litigation that protect the rights of policy owners to sell their policies. Our main goal is to alleviate the confusion surrounding life settlements that have caused a majority of fiduciary advisors to avoid discussing life settlements with their clients. We will close with a list of Life Settlement Best Practices for Fiduciaries that will help them protect their client's best interest if their client is planning to lapse or surrender an existing life insurance policy.

Jon B. Mendelsohn, CEO of Ashar Group/Ashar SMV, is an accomplished presenter and frequent speaker at the Annual Conference of the National Association of Estate Planners and Councils (NAEPC), American Institute of Certified Public Accountants (AICPA) annual ENGAGE Conference, the Association for Advanced Life Underwriting (AALU), Advisors in Philanthropy (AIP), and several other conferences and meetings nationally. Ashar Group is an independent resource that supports financial advisors and fiduciaries by providing life insurance appraisals, life settlements, and longevity services. 

Registration information will be posted soon.

Wednesday, February 12, 2020 at 3:00pm - 4:00pm ET - Basis Step-Up Strategies in Light of Portability and Tax Law Changes

Source: The Robert G. Alexander Webinar Series

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We will review a variety of basis step-up strategies, including tools to allow couples in common law states to get community property benefits, modifying irrevocable trusts to make them includible in the primary beneficiary's, or selling assets from an irrevocable trust (income-tax free) to the grantor. We will discuss how portability plays into basis step-up planning and how those with small, medium and large estates may benefit.

Steve Gorin is a partner in Thompson Coburn LLP, headquartered in St. Louis, with other offices including Chicago and Los Angeles. He uses his background as a CPA to integrate income tax planning into estate planning for business owners and wealthy individuals. For more on Steve, see http://thompsoncoburn.com/people/steve-gorin, and for free resources (including over 2,000 pages on planning for owners of private businesses) see https://www.thompsoncoburn.com/insights/blogs/business-succession-solutions/about.  

Registration information will be posted soon.

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]

 

 

 

Registration information will be posted soon.

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.  

Registration information will be posted soon.

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.

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.  

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.

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.

Issue 32 – October, 2019

NAEPC Journal of Estate & Tax Planning

Editor’s Note: Opportunity Knocks . . . Know The Code To Open the Door!
A quick read that provides a brick solid summary of first steps on the road to OZ.
Author: Susan P. Rounds, JD, CPA, LL.M., AEP®, TEP

Complimentary Webinar: The Melton Family Case: Climbing the Philanthropic Learning Curve, provided with Trusts & Estates and sponsored by the Accredited Estate Planner® designation (Video)
During this webinar you will see that a particular specialty (advice on grant-making for philanthropic impact) is often missing, even when philanthropy is a big part of the estate plan. Learn to identify when strategic grant-making advice is needed, identify specialists providing such advice to family foundations and large donor advised funds, and decide whether you will handle such advice or hand it off based on the case study.
Learn more about the Robert G. Alexander Webinar Series.
Panelists: Phil Cubeta, CLU®, ChFC®, CAP®, AEP®, Tony Macklin, CAP®, and Jennie Zioncheck, CAP®, MFT

Top Pick

Estate and Tax Planning Roadmap for 2019-2020 (PDF)
The authors clear a strategic path through our new planning landscape and illustrate techniques to traverse potential detours along the way.
Reproduced courtesy of Leimberg Information Services, Inc. (LISI)
Authors: Martin M. Shenkman, CPA/PFS, MBA, JD, AEP® (Distinguished), Jonathan Blattmachr, Esq., AEP® (Distinguished), Joy Matak, JD, LL.M., and Sandra D. Glazier, JD

Features

Kaestner Supreme Court Case Summary (PDF)
A can’t miss synopsis by two NAEPC Estate Planning Hall of Fame® members outlining the analysis in the monumental decision that reignited the situs question.
Authors: Steve R. Akers, JD, AEP® (Distinguished) and Ronald D. Aucutt JD, AEP® (Distinguished)

5th Annual Non-Grantor Trust State Income Tax Chart (PDF)
A cool tool! Updated for Kaestner. Link directly to statutes and review the weighted criteria.
Author: Steven J. Oshins, JD, AEP® (Distinguished)

Team Culture (PDF)
The differentiating factor in better planning results is the success of the overall team, which is dependent on the 5Cs. Just what are the 5Cs and why do they matter?
Authors: Martin M. Shenkman, CPA/PFS, MBA, JD, AEP® (Distinguished), S. Mark Alton, CFP®, ChFC®, CLU®, CAP®, CPWA®, Daniel K. Zismer, Ph.D. and Chief Culture Officer, and Ben Utecht, Super Bowl XLI Champion and Chief Performance Officer

How to Retire in the Magical Retirement Income Castle in the Clouds (PDF)
A behind the scenes examination of the inner workings of premium financed IUL policies as a source of retirement income. Policy and loan assumptions deserve special attention along with the potential undisclosed risks.
Author: Lawrence J. Rybka, JD, CFP®

Estate Planning Updates and Planning Nuggets (PDF)
A topical outline detailing developments in 61 areas of planning that you want to stay current on.
Reproduced courtesy of Leimberg Information Services, Inc. (LISI)
Authors: Martin M. Shenkman, CPA/PFS, MBA, JD, AEP® (Distinguished) and Jonathan Blattmachr, Esq., AEP® (Distinguished)

Indiana Enacts Self-Settled Asset Protection Trust Legislation (PDF)
Indiana becomes the 18th DAPT state! A quick overview of the new legislation. Written by a NAEPC Estate Planning Hall of Fame® member and his colleagues.
Authors: Jean Gordon Carter, JD, Charles D. Fox, IV, A.B., M.A., JD, AEP® (Distinguished), Stephen Murphy, JD, and William Sanderson, JD

Connecticut Adopts Omnibus Trust Code  (PDF)
And then there were 20! Connecticut becomes the 20th DAPT state and modifies its RAP to 800 years on a prospective basis. The governor has signed this legislation.
Reproduced courtesy of Leimberg Information Services, Inc. (LISI)
Author: Kelley Galica Peck, JD, LL.M.

What Did Bill Gates and Warren Buffett Learn from Andrew Carnegie?  (PDF)
Carnegie inspired Gates and Buffet to transfer vast wealth to philanthropic causes.  Just what did the iconic steel magnate have to say about wealth, death and taxes?  Authored by NAEPC’s newest At-Large member.
Author: Peter J. Merrick, FMA, CFP®, TEP, FCSI

Perpetual Care Pet Trust Agreement (PDF)
Furry friends are family to many of us. This sample pet trust provides a basis for discussion on this important area for clients with pets.
Author: Virginia Kilmer, MBA

Amici Curiae Brief to U.S. Supreme Court (PDF)
A first-hand look at arguments in Kaestner. How we got to state nexus standards based on the 3 R’s: Receipt of trust income; Right to demand or control trust income; or, Reliance on receipt of income.
Author: Counsel for Amici Curiae in Support of Respondent

News Nook: A Compendium of Current Affairs

Tax Topics: Interest Rates, GRATs, Sales and Loans (PDF)
Author: Blanche Lark Christerson, JD, LL.M. (taxation)

Tax Topics: The Generation-Skipping Transfer Tax (GSTT) (PDF)
Author: Blanche Lark Christerson, JD, LL.M. (taxation)

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

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