In this intermediate level presentation, we will explore how changing income tax rates affect planning for business owners and trusts, with a view towards strategic estate planning/administration issues. Topics include:

1. Compare the overall tax burden when a C corporation distributes none, half, or all of its earnings and how that stacks up against a pass-through entity. Consider how these issues affect planning for distributions and inform estate planning as well as what entities are best for your clients.

2. If capital gain rates are repealed for high income taxpayers, that will be horrible for trusts that accumulate capital gains.  Review practical tools for passing capital gains from trusts to beneficiaries –much more flexibility exists than most people think.

3. Potential big increases capital gain rates may make portfolio turnover becomes much more expensive.  Consider how variable life insurance may reduce that tax burden.

 

 

Steve Gorin practiced accounting for his first eight years after law school and continues to make income tax planning an integral part of his estate planning law practice.  Over 8,000 tax and estate planning professionals subscribe to his quarterly newsletter so that they can receive the most recent version of “Structuring Ownership of Privately-Owned Businesses: Tax and Estate Planning Implications,” over 2,800 pages of technical materials distributed without charge.  Steve enjoys working with planners throughout the country from all professions comprising NAEPC.

 

 

REGISTER HERE for the individual program. To purchase the 2021 webinar series, please click HERE.

Details coming soon.

REGISTER HERE for the individual program. To purchase the 2021 webinar series, please click HERE.

This session considers integrating Social Security retirement benefits into estate planning. Even with the high net worth client, this benefit is an important planning tool because of tax affects and longevity considerations. We will address issues such as how the system’s underfunding factors into projecting benefits, how to avoid the Social Security tax torpedo, retirement income bridging techniques that help defer and maximize retirement benefits, and coordinating OASDI payments with retirement drawdowns. Practical considerations are also included, such as how to help the client file for the benefit, using the benefit to pay for Medicare, and what to do about Social Security at death. 

Sophia Duffy is an Assistant Professor of Business Planning and the Assistant Vice President and Director of Regulatory Compliance, at The American College of Financial Services. Duffy teaches in the areas of estate planning, small business and succession planning, and income taxation. She is an attorney and a Certified Public Accountant (CPA).She received her Juris Doctorate (JD) from the Temple University James E. Beasley School of Law in 2012, and her Bachelor of Science (BS) in Accounting from Rutgers University in 2002.

In 2015, Duffy was appointed Interim Chief Academic Officer. Prior to that, she served as Assistant Dean of Business Affairs.

 

 

Steve Parrish is a former practicing attorney and financial planner with over 40 years’ experience in financial services. He serves as Co-Director of the Retirement Income Center at The American College and as an adjunct estate planning professor at Drake University Law School. He is widely published in legal and financial journals, and is an ongoing Forbes contributor.   

 

 

 

REGISTER HERE for the individual program. 

To purchase the 2021 webinar series, please click HERE.

As the traditional nuclear family has changed because of evolving social and legal norms as well as scientific and technological developments, estate planning professionals must be prepared both for issue spotting and thoughtful problem solving with regard to issues clients face, how existing trusts are interpreted, and how new estate planning instruments can be drafted for sufficient flexibility. This discussion will touch upon a potpourri of issues to consider, including: Marital Status (single, divorced, unmarried couples and polyamorous relationships); Defining Descendants (stepchildren, adoption, nonmarital children and assisted reproductive technologies); and other forms of Diversity (disability, LGBTQIA+, religious, racial and cultural inclusion) . . . and more!

REGISTER HERE for the individual program. To purchase the 2021 webinar series, please click HERE.