NAEPC Webinars:

Wednesday, July 8, 2020 at 3:00pm - 4:00pm ET - What Estate Planning Professionals Need to Know About Cybersecurity in the Era of COVID-19

Source: The Robert G. Alexander Webinar Series

CRead more

Clients regularly trust planning professionals with something nearly as valuable as their money — their personal information. Cyber criminals are well aware that financial planners, trust officers, CPAs and attorneys are treasure troves of information that can be exploited to perpetrate a variety of schemes and frauds. Concerned with this growing problem, clients are increasingly expecting that planning professionals will keep their information private as well as secure. Additionally, those professionals with access to client assets may be targets of cyber attacks to steal those funds. The challenge of keeping client information and assets secure has increased in recent months, as work environments have changed dramatically and rapidly due to the COVID-19 pandemic, and sadly, many cyber criminals are exploiting the impacts of the health crisis for their own financial gain.

This presentation will discuss the various cyber threats confronting estate planning professionals, legal obligations and risks in the context of data security, and some non-technical strategies for reducing this legal risk with specific considerations related to impacts from COVID-19.

Justin Joy is a shareholder in the Memphis office of the Lewis, Thomason, King, Krieg & Waldrop, P.C law firm.  He also serves as the firm’s privacy officer.  In addition to a range of experience in healthcare liability defense litigation and business law matters, Justin heads up Lewis Thomason’s cybersecurity practice group.  He provides counsel to clients in a variety of industries in the area of information privacy and data security including incident investigation and breach response management, regulatory compliance, privacy and security policy review and drafting, and cyber risk management.  Justin speaks frequently to various groups and organizations on the topic of information privacy and cybersecurity.

Justin is a Certified Information Privacy Professional/US (CIPP/US) and a Certified Information Privacy Technologist (CIPT) through the International Association of Privacy Professionals.  He is a 2001 graduate of Wake Forest University and holds a law and MBA degree from the University of Memphis.

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 - Creative Ways to Fund Business Owner Retirement

Source: The Robert G. Alexander Webinar Series

ERead more

Every Business Owner leaves their businesses whether voluntarily or involuntarily.  Consideration in the positioning and use of life insurance prior to the exit can mean a huge difference in ultimate retirement cash flow for the Business Owner.  This intermediate presentation will provide valuable food for thought for the professional who has business owner clients.

Vincent M. D’Addona MSFS, CLU®, ChFC®, RICP®, CExP®, AEP® (Distinguished) is an advisor at Strategies for Wealth with 41 years of experience providing services in three core areas: Estate Planning, Exit Planning for the owners of closely held businesses and Investment Coaching.  Vince has served as workshop sub-committee chair for the AALU 2010 annual meeting, in addition to being a featured speaker in 2005.  Vince is a Life and Qualifying member of MDRT, Court of the Table for 31 years and Top of the Table for 17 years and has spoken at the MDRT National Meeting.  Vince is a member of the Forum400, Financial Planning Association, the National Association of Insurance and Financial Advisors, and the National Association of Estate Planning Councils.  He has served as president of the New York City Chapter of the Society of Financial Services Professionals, and on the boards of the New York City Association of Insurance and Financial Advisors and the New York Estate Planning Council.

 

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

SRead more

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

DRead more

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

DRead more

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 5 – January, 2009

NAEPC Journal of Estate & Tax Planning

Editor’s Note: This “dinner menu” summary is designed to help you with the flavor of the article before you read more. If you are interested in the article, click its title to access a copy.

Regular Columns and Reports

Letter from the President of NAEPC
Author: Kathleen J. Belmonte, CTFA, AEP
Editor’s Column (PDF file)
Complexity of the Code
Author: John J. Scroggin, J.D., LL.M., AEP
Helpful Information (PDF file)
Information to help your Practice and Life
List of Conferences
2009-2010 Conferences on Estate, Financial and Tax Planning

Estate and Tax Planning Articles

Reciprocal Trust Planning (PDF file)
In this excellent five part article Mark Merric describes the rules governing reciprocal trusts and how to deal properly with this doctrine.
Author: Mark Merric, J.D.
Reinventing the Life Insurance Industry through the Application of the Uniform Prudent Investor Act (PDF file)
In this article, the authors discuss how the UPIA can change the manner in which insurance agents represent their clients.
Authors: Michael J. Brink, CLU, AEP and Thomas R. Love, CLU, FLMI
2009 Inflation and Other Tax Adjustments (PDF file)
This report from Steve Leimberg and Don Evans summarizes the changes to various inflation and other adjusting tax numbers for 2009
Authors: Steve Leimberg and Don Evans
Trust Owned Life Insurance: The CPA’s Role (PDF file)
This April 2008 article examines the issues that need to be addressed when CPAs serve as trustees of life insurance trusts.
Authors: Don Deans and William Nicholson
The Effect of Interest Rates in Estate Planning Strategies (PDF file)
This article examines the impact of interest rate reductions on many common estate planning techniques. With the AFTR rates at historically low levels, this article provides interesting planning perspectives.
Author: UBS Financial Services, Inc.

Practice Aids

The FDIC Guide to Deposit Insurance Coverage (PDF file)
We provide this updated FDIC guidebook to help both you and your clients understand the rules governing FDIC accounts – a frequent area of concern in these turbulent economic times.
The New Form 990 (PDF file)
The IRS has substantially changed the primary form used for reporting by charitable entities. This IRS report provides details on the new form. We provide this new update because many charities are unaware of the new reporting responsibilities.
Warnings for Outsourcing of Payroll Responsibilities (PDF file)
This excerpt from the IRS website provides practical warnings to employers who have third parties who assume their payroll tax responsibilities. Pass it on to your business clients who use payroll reporting companies.
Is Your Hobby a For-Profit Endeavor? (PDF file)
This excerpt from the IRS website provides simple factors for clients to consider when deciding whether an activity is a hobby or a for profit endeavor. Pass it on to clients who think the losses from their hobbies should be deductible.

Presentations and Outlines

Transfer Planning, including use of GRATs, Installment Sales to Grantor Trusts and Defined Value Clauses to Limit Gift Exposure (PDF file)
This June 2008 presentation to the State Bar of Texas Advanced Estate Planning Institute provides a comprehensive review of the innovative transfer planning.
Author: Steve R. Akers, J.D., Bessemer Trust

Studies and Reports

Historical Effective Federal  Tax Rates: 1979 to 2005 (PDF file)
This December 23, 2008 update of a CBO report provides information in Historic Tax Rates from 1979 to 2005.
IRS Tax Statistics (Web Link)
Visit this IRS website to obtain a broad range of data on federal taxes
Tax Guide for Churches and Religious Organizations (PDF file)
Churches and religious institutions are notorious for failing to fully understand their federal tax responsibilities. This IRS publication provides an oversight of the tax benefits and responsibilities of churches. Pass it on to your local clergy and head of the finance committee.
Revenue and Distributional Effects of Reforming the Federal Estate Tax (Web Link)
Visit this website to see the Tax Policy Center’s report from October of last year.
Sources of Growth and Decline in Individual Income Tax Revenues Since 1994(PDF file)
This May 2008 report from the Congressional Budget Office shows the source of individual income taxes over the 13 years from 1994 to 2007.
Taxation of Wealth Transfers within a Family: a Discussion of Selected Areas for Possible Reform (PDF file)
This April 2008 report from the Senate Finance Committee discusses areas for possible reform, including Dynasty Trusts, Crummey Powers and Valuation.
Taxpayer Advocate’s Annual Report to Congress – Executive Summary (PDF file)
This January 2009 report the report discusses 21 problems facing taxpayers, makes dozens of recommendations for administrative change, proposes 17 recommendations for legislative change and analyzes the 10 tax issues most frequently litigated in the federal courts during the past fiscal year. It also contains a second volume that presents in-depth studies on three subjects – the penalty regime in the tax code, the development of a “filter” to protect low income Social Security recipients from automated levies and strategies to improve tax compliance by tax preparers and their clients. Also see the entire report on the IRS website.