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 34 – May, 2020

NAEPC Journal of Estate & Tax Planning

Editor’s Note: Strategic Estate Planning: The Perfect Storm
A confluence of more time on our hands, an urgent reminder of the important things in life, depressed asset levels and a reduction in interest rates have created the perfect storm for estate planning.
Author: Susan P. Rounds, JD, CPA, LL.M., AEP®, TEP

Complimentary Video: Hartman Axley: The Heart of NAEPC
This month we are offering NAEPC members a very special treat in this section of the Journal. Watch this November 2018 interview with Hartman Axley, past president and board member emeritus of NAEPC, to learn more about the history of the association and his exceptional life. Hart is often noted as the “heart of NAEPC” for his many contributions to the association and profession, historical knowledge and perspective, and ongoing contributions. We thank Kit Mac Nee, Paul Viren, and Susan Austin-Carney for their time and talent creating this video and for sharing Hart’s incredible life and service with all members of NAEPC. We welcome all members of NAEPC to subscribe to the association’s YouTube channel.

Top Pick

The CARES Act (PDF)
The authors detail provisions of the new act that are pertinent to small businesses and individuals.
Reproduced courtesy of Leimberg Information Services, Inc. (LISI)
Authors: Robert S. Keebler, CPA/PFS, MST, AEP® (Distinguished); Michael Geeraerts, CPA, JD, CGMA®, CLU®; and, Jim Magner, JD

Features

Investment Location Planning: Tax, Estate and Asset Protection Considerations (PDF)
Learn how investment location planning coordinated through a collaborative estate planning team can maximize client goals. Written by members of the NAEPC Publications Committee especially for Journal readers.
Authors: Ryan Laughlin, CPA, MST, JD, AEP®; Heather Welsh, CFP®, AEP®, MSFS; Susan Rounds, JD, CPA, LL.M., AEP®, TEP; Harvey Hutchinson, LL.M., JD, CFP®, AEP®; Brian Balduzzi, JD, LL.M., MBA, CFP®; and, Martin Shenkman, CPA/PFS, MBA, JD, AEP® (Distinguished)

Heckerling Musings 2020 and Estate Planning Current Developments (PDF)
An annual “must read” from two NAEPC Estate Planning Hall of Fame® members and one trusty associate.
Reproduced courtesy of Leimberg Information Services, Inc. (LISI)
Authors: Steve Akers, JD, AEP® (Distinguished), ACTEC Fellow; Ronald D. Aucutt, JD, AEP® (Distinguished), ACTEC Fellow; and, Kerri G. Nipp, JD

Don’t Leave It All on the Field: Why Athletes Require Special Planning (PDF)
Understand the special circumstances and risks faced by athletes and others with “star” power and what it takes to design a comprehensive wealth plan that will protect and preserve their hard earned wealth and secure a financially stable future.
Reproduced courtesy of Leimberg Information Services, Inc. (LISI)
Authors: K. Eli Akhavan, JD; Evan Bloom, JD; Jonathan Shenkman, MBA; Martin Shenkman, CPA/PFS, MBA, JD, AEP® (Distinguished); Ben Utecht, 2006 Super Bowl Champion; and, Eido M. Walny, JD, AEP®, EPLS

11th Annual Domestic Asset Protection Trust State Rankings Chart (PDF)
As of April 2020. Understand the how and why behind the rankings. Link directly to statutes and review the weighted criteria.
Author: Steven J. Oshins, JD, AEP® (Distinguished)

Managing The Remote Law Practice (PDF)
Technical and practical tips on developing effective remote practice strategies in this trying time.
Reproduced courtesy of Leimberg Information Services, Inc. (LISI)
Authors: Mary E. Vandenack, JD, CAP®; Martin Shenkman, CPA/PFS, MBA, JD, AEP® (Distinguished); and, Jonathan Blattmachr, JD, AEP® (Distinguished)

IRS Issues Relief to Foreigners Stranded in the United States due to Coronavirus (PDF)
For the foreigner stuck in the United States, there is a potential risk of US tax residency being created as a result of the unplanned extension of their US stay.
Authors: Paul Sczudlo, JD, TEP and Megan Lisa Jones, JD, LL.M., TEP

A Noteworthy Dichotomy:  Valuation of Intrafamily for Transfer Tax Purposes (PDF)
If a promissory note bears interest at the AFR upon issuance and is later disposed of by gift or bequest and is valued at a discount, can the IRS argue that the note was not issued for adequate and full consideration?
Reproduced courtesy of Tax Management Estates, Gifts and Trusts Journal.
Authors: Jerry Hesch, JD, AEP® (Distinguished), and Michael S. Strauss, MBA, JD

Federal and Ontario COVID-19 Relief Measures for Businesses and Individuals (PDF)
The Government of Canada has announced an economic stimulus package that will result in important tax consequences for Canadian taxpayers.
Reproduced courtesy of Blaney McMurtry LLP
Authors: Sunita Doobay, JD, LL.M. (taxation), TEP, AEP®; and, Antoine Killin, JD

News Nook: A Compendium of Current Affairs

How the Hybrid Domestic Asset Protection Trust Has Changed the Entire Asset Protection Industry (PDF)
The more uncertain the times, the more certain the need for asset protection planning. The author describes the 3 main asset protection trust options and ranks them according to his assessment of the relative effectiveness of each.
Reproduced courtesy of The Ultimate Estate Planner, Inc.
Author: Steven J. Oshins, JD, AEP® (Distinguished)

Emergency Remote Notarization and Witnessing Orders by State (PDF)
Cool Tool providing information on emergency Executive Orders by state.
Reproduced courtesy of ACTEC
Authors: Lauren J. Wolven, JD, ACTEC Fellow and Erin M. Mayer, JD

COVID-19: Canadian Federal and Provincial Government Relief Measures – Remote Signing of Wills and Powers of Attorney (PDF)
Current orders allowing remote signing of Wills and POAs in Canada
Reproduced courtesy of Blaney McMurtry LLP
Authors: Sunita Doobay, JD, LL.M. (taxation), TEP, AEP®; and, Antoine Killin, JD

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