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 - The NEW Reverse Mortgage – 5 Ways Housing Wealth Is Changing the Estate Planning Conversation

Source: The Robert G. Alexander Webinar Series

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With the current retirement crisis, advisors need every viable resource to help their clients.  Reverse mortgages have become one such resource.  Much has changed with the program’s restructuring, and estate planners have discovered five surprising ways Housing Wealth strategies are reshaping retirement outcomes. 

Don Graves is the president of the Housing Wealth Institute, best-selling author and an adjunct instructor of retirement income at the American College of Financial Services. He is considered one of the nation’s leading educators on incorporating housing wealth into retirement income planning and has been quoted in Forbes Magazine, featured on PBS-sponsored shows, and recognized as one of the American College's 11 Retirement Income Alumni you need to read. 

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

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. 

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

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.  

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

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.

Issue 24 – August, 2016

Editor’s Note

Time to Start the Estate Planning Conversation with Your Privately Held Business Owner Clients

Susan P. Rounds, JD, CPA, LL.M. (taxation), AEP®, TEP

Long promised, the proposed regulations under IRC Section 2704 were released August 2nd. The proposed regs aim to curtail use of valuation discounts resulting from restrictions on the ability to liquidate a closely held business – whether or not the business is an active operating business. Valuation discounts are commonly sought for estate planning purposes when transferring family owned businesses and can greatly enhance the effectiveness of the current $5.45 million exemption per taxpayer.

Generally, the rationale for receiving a discount is that the bundle of ownership rights is limited, so that the owner does not enjoy any one or all of the rights to sell the interest, force liquidation, or control the entity. Because of the restrictions, the interest owned is worth less than it would otherwise be with unfettered ownership. Under the proposed regs, the restrictions will be ignored irrespective of whether they are built into the governing documents or result as a matter of state law.

There will be a 90 day public comment period with a hearing scheduled December 1st. Once a final version is released, there will be a 30 day period before becoming effective. The timing is such that the effective date could be very close to the start of 2017.

The majority of business owners do not have a business succession plan in place. The list of reasons can be quite long, but boil down to the Three T’s: Time (not enough of it); Training (there has been no discussion of the alternatives for management and ownership succession); and, Team (the business owner does not have the right team of advisors on which to rely on for this kind of advice.)

The third factor is on us. Those of us in the estate planning community can use this development as an opportunity to perk interest and start the conversation. Don’t let your business owner client, or any client, go with the “No Plan Plan.”


This information is provided for discussion purposes only and is not to be construed as providing legal, tax, investment or financial planning advice. Please consult all appropriate advisors prior to undertaking any of the strategies outlined in this article, many of which may involve complex legal, tax, investment and financial issues. This communication is not a Covered Opinion as defined by Circular 230 and is limited to the Federal tax issues addressed herein. Additional issues may exist that affect the Federal tax treatment of the transaction. The communication was not intended or written to be used, and cannot be used, or relied on, by the taxpayer, to avoid Federal tax penalties. MRG026830