NAEPC Webinars:

Wednesday, August 12, 2020 at 3:00pm - 4:00pm ET - Creative Ways to Fund Business Owner Retirement

Source: The Robert G. Alexander Webinar Series

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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

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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 25 – December, 2016

NAEPC Journal of Estate & Tax Planning

Note from the Editor: The Yogi Berra Era of Estate Planning?
Some legends never die and witty words of wisdom never cease to apply.
Author: Susan P. Rounds, JD, CPA, LL.M., AEP®, TEP

Accredited Estate Planner® Designee – Top Pick (See previous top picks)

Estate Planning Traps That Have Nothing To Do With Estate Taxes (PDF file)
A NAEPC Journal original! At a time when some clients may be wondering why they should proceed with estate planning due to the proposed elimination of the estate tax, this article reminds us that there are many issues to resolve aside from taxes and provides wise counsel on how to proceed.
Authors: Stuart M. Horwitz, JD, LLM (Taxation) and Jason S. Damicone, JD, LLM (Taxation)

Features

Consistent Basis Reporting Between Estates and Beneficiaries (PDF file)
Pursuant to I.R.C. Section 1014(f) enacted in 2015, consistent basis reporting between estate tax returns and income tax returns is now generally required. The law places a burden on executors and potentially on beneficiaries as well. Learn how to advise your clients on navigating the inner workings of these rules and how to avoid the potential impact of the Zero-Basis Rule.
Originally appeared in The Tax Advisor, © 2016, AICPA. Reprinted by permission.
Author: Jordon Rosen, CPA, MST, AEP®, past president of NAEPC
Steve Oshins on the Kloiber Case: Delaware Dynasty Trust Broken into Pieces by Beneficiary’s Divorcing Spouse (PDF file)
Kloiber is a fascinating walk through many issues we deal with as planners. Is a divorcing spouse on equal footing with a creditor when it comes to claiming assets held in trust? Does the trust distribution standard make a difference? Does trust situs affect the interpretation of the rights of a divorcing spouse? This in-depth analysis demonstrates the critical importance of choosing the right trust distribution standard and we see just how wrong things can go depending on the existing law in the chosen jurisdiction.
Reproduced courtesy of Leimberg Information Services, Inc. (LISI)
Author: Steven J. Oshins, JD, AEP® (Distinguished)
Steve Oshins on Kloiber: The Aftermath (PDF file)
Read the original piece by Steve and then learn about the $30,000,000 whimsy in its wake.
Reproduced courtesy of Leimberg Information Services, Inc. (LISI)
Author: Steven J. Oshins, JD, AEP® (Distinguished)
Recent Trust State Rankings Charts
Oshins 5th Annual Dynasty Trust State Rankings (PDF file)
Oshins 7th Annual DAPT State Rankings (PDF file)
Author: Steven J. Oshins, JD, AEP® (Distinguished)
Basis Consistency Reporting for Unmatured Life Insurance Contracts: Does Basis Step-Up and How Do Executors and Beneficiaries Deal with Reporting? (PDF file)
Now that basis consistency and Form 8971 reporting are required, this may no longer be just a theoretical question.  Bonus: A higher basis in the policy means more cash value can be accessed income tax-free.
Authors: Vincent M. D’Addona CLU®, ChFC®, AEP® (Distinguished) nominee RICP, CExP®, MSFS, Michael Geeraerts, CPA, JD, CGMA®, CLU®, and Jim Magner, JD, CLU®, ChFC®
Little Things Mean A Lot: Tips for Dividing Art and Collectibles in Divorce or Death(PDF file)
Written especially for NAEPC Journal readers! Ms. Rigaud provides tips to avoid the potential minefield of family disputes over cherished artwork, antiques and collectibles during times of transition – be it estate settlement or even divorce. She cautions against relying on do-it-yourself lists and reminds us that these objects carry a significant emotional attachment that can damage family relationships during stressful times.
Author: Morgan Rigaud, Qualified IRS Appraiser
Try to Avoid Using the ‘R’ Word (PDF file)
The author posits a more positive vision for the time when clients are no longer in the workforce. He proposes creating a financial plan with purpose – one based on a life mission statement that contemplates the personal life pyramid.
Originally appeared in Insurance News Net Magazine. Reprinted with permission.
Authors: Shane Westhoelter AEP®, CLU, LUTCF, LTCP and Member of NAEPC Board of Directors
Marty Shenkman’s Notes From 42nd Annual Notre Dame Estate Planning Institute:  Day One and Day Two (PDF file)
Marty Shenkman’s detailed and in-depth notes from Days One and Two. Don’t miss this invaluable resource consisting of 90 pages of wisdom and practical insight from one of our “Masters Among Us.”
Reproduced courtesy of Leimberg Information Services, Inc. (LISI)
Author: Martin M. Shenkman, CPA, MBA, PFS, AEP® (Distinguished), JD
Getting “Buy-In” to Develop a Collaborative Team  (PDF file)
Dave Holaday and John Warnick reveal that true team work is rare because most advisors work in a silo as their default style. The authors identify the three prevailing models of collaboration and identify the ultimate – The Trusted Team Model. They outline protocols and steps to achieve buy-in from a client’s advisors and create the magic that transforms individual expertise into collective excellence.
Originally published in the February 2013 issue of Trusts & Estates. Reprinted by permission.
Author: David W. Holaday, ChFC and John A. Warnick, Esq.
Client Professional Advisor Communication Authorization Letter Jul 28 2016  (PDF file)
A strong proponent of Interdisciplinary Collaboration, Marty Shenkman drafted this sample letter from a client to members of his or her prospective interdisciplinary estate planning team to encourage collaboration and cultivate coordination and efficiency in the process. Marty is generously sharing it with our NAEPC readers to adapt for use in your respective practices.
Author: Martin M. Shenkman, CPA, MBA, PFS, AEP® (Distinguished), JD

And Now A Word From Our Sponsors

Secondary Planning for CRTs  (PDF file)
Written for our Journal readers following Sterling Foundation Management, LLC’s sponsorship at the 53rd NAEPC Advanced Estate Planning Strategies Conference last month! CRTs are irrevocable and life circumstances sometimes change, a CRT may fall out of alignment with a client’s needs and goals over time. This article discusses CRT income interest sales and CRT rollovers as possible solutions if this happens to a client. Two case studies examine how these strategies might work.
Author: Sterling Foundation Management, LLC

News Nook: A Compendium of Current Affairs

The NAEPC Journal of Estate & Tax Planning Quarterly Tax Update 3Q 2016 (PDF file)
Author: Scott E. Swartz, JD, LL.M., AEP®
Practical Planner Newsletter October – December 2016  (PDF file)
Author: Martin M. Shenkman, CPA, MBA, PFS, AEP® (Distinguished), JD
Practical Planner Newsletter July – September 2016  (PDF file)
Author: Martin M. Shenkman, CPA, MBA, PFS, AEP® (Distinguished), JD
NAEPC Monthly Technical Newsletter
Reproduced courtesy of Leimberg Information Services, Inc. (LISI)