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 33 – February, 2020

NAEPC Journal of Estate & Tax Planning

Editor’s Note: A Goodbye and Thank You to One of NAEPC’s Greats
Michael W. Halloran, CFP®, CLU®, ChFC®, RICP, WMCP, AEP® (Distinguished): A Master Among Us
Author: Susan P. Rounds, JD, CPA, LL.M., AEP®, TEP

Complimentary Webinar: Life Settlement Legal and Ethical Responsibility (Video)
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.
Learn more about the Robert G. Alexander Webinar Series.
Speaker: Jon B. Mendelsohn, CEO and Co-Founder of Ashar Group/Ashar SMV

Top Pick

Drafting Income Tax-Sensitive Trusts Under the New Tax Laws (PDF)
Tax law changes in 2017 and 2019 have altered the income tax consequences of utilizing trusts in estate planning. The authors outline current problems and propose solutions with sample language.
Authors: James G. Blase, CPA, JD, LL.M. and Ryan G. Polley, JD

Features

Life Insurance in the Client’s Best Interest: Seeing More Clearly in 2020 (PDF)
The regulatory landscape is changing. The author provides an in-depth analysis of 3 central developments and their potential impact on advice related to life insurance and life insurance products.
Author: Lawrence J. Rybka, JD, CFP®

What Advisors Should Know About Hybrid Long-Term Care Policies (PDF)
Hybrid policies are an alternative to existing stand-alone policies. Learn the 3 situations where hybrid polices are particularly attractive along with the benefits and drawbacks.
Reprinted with permission. Originally published in Trusts & Estates April 2019.
Authors: Henry Montag, CFP®, CLU® and Bill Boersma, CLU®, AEP®, LIC

7th Annual Trust Decanting State Ranking Chart (PDF)
Rankings based on ease of use and flexibility. Lower-ranked state statutes may have flexibilities that higher-ranked state statutes lack, so the reader should not necessarily conclude that a higher-ranked state is always better.
Reproduced courtesy of Leimberg Information Services, Inc. (LISI)
Author: Steven J. Oshins, JD, AEP® (Distinguished)

The Life Insurance-Other Financial Services Sectors Communications Gap (PDF)
A Modest Proposal: How the life insurance and financial services sectors can get on the same page using FINRA and NAIC regulated “math.”
Reproduced courtesy of ALM Media Properties, LLC
Author: Mark Whitelaw, BA Economics

Anticipating the Secret Scion in Estate Planning (PDF)
At-home DNA testing may potentially identify an unknown heir. Scott Rahn is an estate litigator with suggestions on proactively addressing this issue in your estate plan.
Author: Scott E. Rahn, JD

The Little Known and Understood Living Benefits of Life Insurance (PDF)
Identifies and explains 3 specific types of living benefits provided under a policy that only a minority of policy owners and advisors are aware of or understand.
Reproduced courtesy of The Senior Lawyer, New York State Bar Association
Authors: Henry Montag, CFP®, CLU® and Bill Boersma, CLU®, AEP®, LIC

Collecting Another Country’s Taxes—Recent Developments in the Canada U.S. Context (PDF)
Written by a newly-minted AEP® designee based in Toronto. Discusses the US-Canada Tax Treaty with respect to assistance in collection and exchanges of information and outlines several recent cases where taxpayers argued against the validity of the Treaty provisions.
First published by Ruchelman P.L.L.C. in Insights 6, no. 9 (2019).
Author: Sunita Doobay, JD, LL.M. (taxation), TEP, AEP®

Updated Estate Planning for Pets,
Pet Life Care Agreement,
Pet Life Care Trust Agreement (PDF)
This trio of docs includes new information explaining how to include a pet in an estate plan and provides a sample Pet Trust and Life Care Agreement.
Author: Virginia Kilmer, MBA

News Nook: A Compendium of Current Affairs

Practical Planner Newsletter Jun-Dec 2019 (PDF)
Author: Martin M. Shenkman, CPA/PFS, MBA, JD, AEP® (Distinguished)

What’s New for Social Security in 2020? (PDF)
Author: Bronwyn L. Martin, ChFC®, CLU®, MBA, CFS®, CRPC®, CMFC®, AEP®, CLTC, LACP

Tax Topics: Statutory Residency and Wynne (PDF)
Author: Blanche Lark Christerson, JD, LL.M. (taxation)

Helping a Family Member Pay for Disability-Related Expenses? An ABLE Account May Help (PDF)
Author: Bronwyn L. Martin, ChFC®, CLU®, MBA, CFS®, CRPC®, CMFC®, AEP®, CLTC, LACP

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