NAEPC Webinars:

Wednesday, October 16, 2019 at 3:00pm - 4:00pm ET - Elder Law and Special Needs Planning

Source: The Robert G. Alexander Webinar Series

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This intermediate level program will provide an update on elder law and special needs planning, including how to draft a plan that works and takes into account future incapacity of the client and benefiicaries.  Use of trusts will be discussed, as well as appropriate trust distribution standards.

Bernard A. Krooks is the founding partner of the New York law firm Littman Krooks LLP and chair of its elder law and special needs department. He is past president of the Arc of Westchester, the largest agency in Westchester County, NY serving people with intellectual and developmental disabilities and their families.

A frequent presenter at the Heckerling Institute on Estate Planning and other national estate planning conferences, Mr. Krooks is immediate-past Chair of the Elder Law Committee of the American College of Trust and Estate Counsel (ACTEC) and Chair of the Elder Law and Special Needs Planning Group of the Real Property, Trust & Estate Law (RPTE) Section of the American Bar Association. He is past president and fellow of the National Academy of Elder Law Attorneys (NAELA), past president and founding member of the New York Chapter of NAELA, past Chair of the Elder Law Section of the New York State Bar Association, and past president of the Special Needs Alliance, a national invitation-only non-profit organization dedicated to assisting individuals with special needs and their families.

Mr. Krooks, author of numerous articles on elder law and related topics, is chair of the Elder Law Committee of Trusts & Estates Magazine, and serves on the Wolters Kluwer Financial and Estate Planning Advisory Board and the Advisory Committee of the Heckerling Institute on Estate Planning.

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

Wednesday, December 11, 2019 at 3:00pm - 4:00pm ET - Longevity

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 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 - TBD

Source: The Robert G. Alexander Webinar Series

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Detailed information regarding this presentation 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.  

Issue 24 – August, 2016

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. The opinions expressed by authors do not necessarily reflect those of the National Association of Estate Planners & Councils.

Regular Columns and Reports

Note from the Editor: Time to Start the Estate Planning Conversation with Your Privately Held Business Owner Clients
Author: Susan P. Rounds, JD, CPA, LL.M., AEP®
List of Conferences
2016 Conferences on Estate, Financial Planning
Distance Learning Programs
Upcoming and on-demand professional education

Accredited Estate Planner® Designee – Top Pick

Creative Planning Strategies Once the 2704 Regs Become Final (PDF file)
Hot off the presses. A critical read for some direction on the 2704 regs.
Reproduced courtesy of Leimberg Information Services, Inc. (LISI)
Authors: Steven J. Oshins, JD, AEP® (Distinguished) and Robert S. Keebler, CPA, MST, AEP® (Distinguished)

Features

A Comprehensive Perspective on Four UPIA-TOLI Cases, Plus One That Includes the UTC, and Their Astounding Implications for ILIT Trustees, Part 1 of 2 (PDF file)
Provides a critical and thorough review of the prudent investor duties of a trustee with respect to life insurance. Part I: Cochran vs. KeyBank (Coauthor Randy Whitelaw was the lead expert for the plaintiffs.)
Reproduced courtesy of Leimberg Information Services, Inc. (LISI)
Authors: Gary L. Flotron, MBA, CLU®, ChFC®, AEP® and E. Randolph “Randy” Whitelaw, AEP® (Distinguished)
A Comprehensive Perspective on Four UPIA-TOLI Cases, Plus One That Includes the UTC, and Their Astounding Implications for ILIT Trustees, Part 2 of 2 (PDF file)
Part 2: Describes and analyzes 3 subsequent UPIA-TOLI cases. Includes Rafert v. Meyer which applies the UTC in addition to UPIA to TOLI.
Reproduced courtesy of Leimberg Information Services, Inc. (LISI)
Authors: Gary L. Flotron, MBA, CLU®, ChFC®, AEP® and E. Randolph “Randy” Whitelaw, AEP® (Distinguished)
Elephant in the Room (PDF file)
The author identifies the potential negative impact of our enduring low interest rate environment on life insurance products and on the industry as a whole.
Author: Lawrence Rypka, JD, CFP
Estate Planning Strategy Using Cost Segregation (PDF file)
This article was penned especially for our NAEPC Journal readers. Cost segregation is an income tax strategy used to accelerate depreciation deductions. While depreciation is generally a use it or lose it deduction, if a decedent missed the opportunity to accelerate during life—the estate may still be able enjoy the benefits of this technique via the decedent’s final income tax return. Moreover, the estate and beneficiaries may avoid the potential depreciation recapture on a subsequent sale. Learn how.
Authors: Gian Pazzia, CCSP
A Primer on Tax and Other Issues Relevant to Art Collectors and Their Advisors(PDF file)
A thorough outline that walks through both the income and the transfer tax ramifications of owning and transferring works of art, whether to third parties, charity or chosen beneficiaries. Details of California Sales and Use tax are also provided along with strategies for dealing with dealers.
Author: Paul N. Frimmer, Partner, Loeb & Loeb LLP
Note Sales, Economic Substance and “The 10% Myth” (PDF file)
The authors analyze the often used 10% seeding strategy used to establish economic substance in a sale to IDGT transaction and demonstrate why the Reality of Sale approach has more validity and is the true key. They conclude that the correct test is whether the note payments can be projected to be satisfied and how that standard can be met.
Reproduced courtesy of Leimberg Information Services, Inc. (LISI)
Authors: Jerome M. Hesch, Esq., Richard Oshins, MBA, LL.M., AEP (Distinguished) & James Magner, JD, CLU, ChFC
2nd Annual Non-Grantor Trust State Income Tax Chart (PDF file)
Is the “tax drag” wasting your client’s investment returns? Many trusts accumulate income that is subject to state income tax even if the income is not sourced in that state. The author discusses the triggers – and the fixes.
Reproduced courtesy of Leimberg Information Services, Inc. (LISI)
Author: Steven J. Oshins, JD, AEP® (Distinguished)
High Performance Teaming & Professional Collaboration (PDF file)
The NAEPC mission is to promote the inter-disciplinary approach to estate planning. This article, adapted from our full whitepaper on the topic, illustrates the when, the why, the how, and the incomparable benefits to both clients and advisors.
Originally published in the May 2016 issue of Trusts & Estates. See subscription information.
Our NAEPC collaboration whitepaper was authored by members of the NAEPC Multi-Disciplinary Teaming and Professional Collaboration Committee. Primary Contributing Authors: Todd Fithian, CLWC®; Albert E. Gibbons, CLU®; ChFC®, AEP® (Distinguished); and, David W. Holaday, ChFC®, CAP®. The whitepaper was adapted to this article by Susan P. Rounds, JD, CPA, LL.M., AEP®.
Proposed Regulations IRC Section 2704 (PDF file)
The long promised proposed regulations under IRC Section 2704 have just been released. The government document is attached in its entirety. Expect analysis and commentary in the days and weeks to come. More information appears in Note from the Editor: Time to Start the Estate Planning Conversation with Your Privately Held Business Owner Clients.
Author: Department of the Treasury, Internal Revenue Service

News Nook: A Compendium of Current Affairs

The NAEPC Journal of Estate & Tax Planning Quarterly Tax Update 2Q 2016 (PDF file)
Author: Scott E. Swartz, JD, LL.M., AEP®
Practical Planner Newsletter April – June 2016  (PDF file)
Author: Martin M. Shenkman, CPA, PFS, MBA, JD, AEP® (Distinguished)
Pre-Election Estate Tax Proposals: Clinton vs. Trump  (PDF file)
Learn the stark contradictions in the candidates’ current proposals and the steps you can take now to best prepare your clients—no matter who wins.
Author: Martin M. Shenkman, CPA, PFS, MBA, JD, AEP® (Distinguished)
NAEPC Monthly Technical Newsletter
Reproduced courtesy of Leimberg Information Services, Inc. (LISI)