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 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)