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

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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

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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 29 – July, 2018

NAEPC Journal of Estate & Tax Planning

Editor’s Note: The SALT Work-Around:  Shaken Not Stirred
Author: Susan P. Rounds, JD, CPA, LL.M., AEP®, TEP

Featured Complimentary Webinar

NAEPC Webinar – Longevity Changes Everything (Video)
Increasing longevity, the recent increase in the estate tax exemption, and other disruptive factors are changing the face of life insurance valuation.  Fiduciaries and financial professionals are demanding a more defensible determination of fair market value for estate and tax planning with senior clients. These issues are discussed in this intermediate level presentation, which originally aired January 2018.  Learn more about the Robert G. Alexander Webinar Series.

Accredited Estate Planner® Designee – Top Pick

Exploiting the New IRC 199A Pass-Thru Business Deduction Using the Magical 28.57% W-2 Formula and Additional Taxpayers (PDF)
A sweet treat! Learn the 28.57% formula and how it can maximize the benefits of IRC Section 199A. Additional taxpayers may prove to be the cherry on top.
Reproduced courtesy of Leimberg Information Services, Inc. (LISI)
Author: Steven J. Oshins, JD, AEP® (Distinguished)

Features

Commentary on Bloomberg’s Computation of the Tax Burdens of 10 Highest Paid Global Athletes (PDF)
Jock Tax?  A revealing analysis of the tax burdens facing the 10 highest paid global athletes.
Author: Paul Sczudlo, JD, TEP

Estate of Cahill v. Commissioner, T.C. Memo. 2018-84 (June 18, 2018) (PDF)
Planners have been concerned that the Tax Court’s reasoning in Estate of Powell, applying §2036(a)(2) because the partners could unanimously agree to terminate the partnership, may be extended to other situations involving multi-party transactions in which the parties could agree to “undo” the deal. Just a little over a year later, Cahill has indeed applied that same reasoning in a different context.
Author: Steve Akers, JD, AEP® (Distinguished)

Tax Tribulations for American Royalty (PDF)
Three’s a crowd.  An examination of the potential tax twists in the happy-ever-after for the Duchess of Sussex when Uncle Sam is the uninvited guest.
Reproduced with permission. Published May 18, 2018. Copyright 2018 by The Bureau of National Affairs, Inc. (800-372-1033)
Author: Paul Sczudlo, JD, TEP

Clients and Cannabis:  Do Not Let An Estate Plan Go Up In Smoke (PDF)
An issue that more and more estate planners are dealing with – conflicts among state and federal law require special planning for the administration and distribution of trusts and estates that hold this asset.
Originally published in the May 2018 edition of Estate Planning, a Thomson Reuters publication. Reprinted by permission.
Author: Wendy S. Goffe, JD

Steve Oshins’ 4th Annual Non-Grantor Trust State Income Tax Chart (PDF)
Hot off the presses!  This cool tool hot links to the taxing statute, lists the tax rates and describes the conditions that give rise to taxation in each state.
Author: Steven J. Oshins, JD, AEP® (Distinguished) 

Steve Oshins’ 9th Annual DAPT State Rankings Chart (PDF)
Another cool tool in the series – Provides hot links to state statutes, the criteria and the weight attributed to each in determining the overall rank.
Author: Steven J. Oshins, JD, AEP® (Distinguished) 

DAPTs & Klabacka – At the Intersection of Estate Planning and Family Law (PDF)
DAPTs can be an important part of marital planning – a potential backstop to the uncertainty of pre- and post-marital agreements to bolster separate property status.  Also a critical topic for advisors to clients who are concerned about making transfers of a significant portion of their wealth into trust to take advantage of the high exemption amounts.
Reproduced courtesy of Leimberg Information Services, Inc. (LISI)
Authors: Sandra Glazier, Esq., Martin M. Shenkman, CPA, MBA, PFS, AEP® (Distinguished), JD, & Alan Gassman, Esq.

Toni 1 Trust v. Wacker – Reports of the Death of DAPTs for Non-DAPT Residents is Exaggerated (PDF)
And never the twain shall meet – The authors provide an analysis of the impact of the recent Alaska Supreme Court decision pertaining to jurisdiction over disputes relating to the transfer of assets to an Alaska self-settled trust. The authors conclude that interpretations claiming that only residents of DAPT states can benefit from creditor protection are erroneous.
Reproduced courtesy of Leimberg Information Services, Inc. (LISI)
Authors: Jonathan Blattmachr, Esq., AEP® (Distinguished), Matthew Blattmachr, CFP, Martin M. Shenkman, CPA, MBA, PFS, AEP® (Distinguished), JD & Alan Gassman, Esq.

Tax Cuts and Jobs Act: 529 Plans Expanded (PDF)
Great news for parents and grandparents – Qualified education expense has been expanded to include K-12.  Further, 529 plans can be rolled over to fund ABLE accounts through 2025.  Learn how these provisions work and use the handy links to compare and contrast specific plans offered by different states.
Author: Bronwyn L. Martin, MBA, ChFC®, CLU®, CRPC®, CFS®, CMFC®, AEP®, CLTC, LACP

Using Trust and Tax Solutions in Divorce Mediation (PDF)
This entertaining piece illustrates the use of trusts in divorce mediation, the use of specialized mediators, how to avoid gift tax traps and four basic trust types that lend themselves well to divorce mediation.
This article’s original format was published in the Oklahoma Bar Journal, Vol. 89, No 7 (March 2018), and content is used with permission from the Oklahoma Bar Association.
Authors: Gale Allison, JD, LLM (Taxation) and Vale Gonzalez

Private Placement Life Insurance Primer (PDF)
This piece offers a high-level overview of PPLI and outlines how ultra-affluent families are utilizing this strategy to minimize the impact of income taxes on investment returns.
Originally published in the May 8, 2018 online edition of Trusts & Estates. Reprinted by permission of WealthManagement.com.
Authors: Brian Gartner, Director, and Matthew Phillips, Principal, Winged Keel Group

News Nook: A Compendium of Current Affairs

The NAEPC Journal of Estate & Tax Planning Tax Update (PDF)
Author: Scott E. Swartz, JD, LL.M., AEP®

Tax Topics:  SALT, Portability and Basis Reporting Updates (PDF)
Author: Blanche Lark Christerson, JD, LL.M. (taxation)

Practical Planner Newsletter Jan-June 2018 (PDF)
Author: Martin M. Shenkman, CPA, MBA, PFS, AEP® (Distinguished), JD

NAEPC Monthly Technical Newsletter
Reproduced courtesy of Leimberg Information Services, Inc. (LISI)