CONFERENCE AGENDA

SUNDAY, JANUARY 18

5:00-6:00 pm Program Registration Reception
6:00-7:30 pm Dinner and Welcome

MONDAY, JANUARY 19

7:15 am Registration and Continental Breakfast
7:45 am CE and Housekeeping
8:00-10:50 am Social Security: Then, Now and in the Future
    Jim Schomburg, JD, LLM, MSFS, CLU, ChFC, CRC
Social Security continues to serve as the foundation for retirement income planning, but the retirement program's rules are complex and claimants can choose from a variety of options. With most boomers coming from households where both husband and wife earned income for most of their working years, spouses have more options for coordinating benefits. Boomers are being told to hold off on taking benefits for as long as possible, even while many people are being forced into early retirement. This presentation will review the program's history, strategic planning with today's benefits and possible reforms to maintain the system's solvency.

11:00 am

Identifying Tax Benefits Focusing on Families with Special Needs Children
    Tom Brinker, Jr., CPA/PFS, ChFC, CFE, AEP
As the number of children diagnosed with neurological disorders (e.g., autism, Asperger’s syndrome) skyrockets (1 in 68 as of March 2014), CPAs, financial planners, and lawyers need to understand the deductions and credits available in assisting families in planning for their unique situation. Our session addresses items that are deductible from adjusted gross income to determine taxable income. We also will explore some financing nuances associated with the medical expense deduction (i.e., retirement planning distributions and home equity loans), the tax benefit rule, and the interaction of the medical expense and home equity deductions, as well as other financing techniques, with the Alternative Minimum Tax. This seminar will enable participants to help their clients maximize their deductions and credits and educate practitioners working with families, especially those with individuals having “special needs.”

12:00 noon Sit Down Lunch
1:00-2:50 pm Tom Brinker (cont'd.)
3:15-5:00 pm Industry Issues Competition
5:00-6:00 pm Reception
6:00-7:30 pm Q&A with Schomburg and Brinker
7:00-8:30 pm Hospitality Suite sponsored by NFP

TUESDAY, JANUARY 20

7:15 am Continental Breakfast
7:45 am Housekeeping
8:00-10:50 am Partnerships: Integrating Wealth Transfer and Business Continuity
    Anthony Martin, MBA, MTax, CFP, AIFA
Baby boomer retirement is bringing about the largest wealth transfer in the history of the US. This transfer will be through the sale or gift of privately held businesses. Partnerships (family limited and others) have long been a primary wealth transfer planning tool for minimizing estate tax liability of business owners. However, many of these plans prioritized the wealth transfer component of the strategy without enough emphasis on business succession and the long term continuity of the enterprise. Your ability to work with partnerships will have an impact on your future business. This session will focus on three areas: (1) a review of some of the more common ways that partnership planning has been used to transfer business wealth; (2) potential issues these plans have caused or enabled at the successor owner level; (3) methods for solving these issues and the role of life insurance moving forward.
11:00-11:50 am Making Your Exit: Liquidity Strategies for Business Owners
    Steve Parrish, JD, CLU, ChFC, RHU
Many private business owners are stuck between two bookends in their exit planning. They know it's dangerous to just maintain the status quo, but they're not yet interested in selling to a third party. They want to get liquidity out of the business, but they want the business to continue. This session will take a detailed look at options and strategies available to business owners in this situation. Specifically, the session will consider: corporate finance transactions (recapitalizations; private equity, ESOPs); funding and diversification strategies (no-sell/buy-sell using an ILIT); defined benefit pension plan as a tax deductible exit tool; and diversification of assets using life insurance and other financial products.
12:00 noon Sit Down Lunch
1:00-2:50 pm Steve Parrish (cont'd.)
5:00-6:00 pm Reception
6:30-7:30 pm Q&A with Martin and Parrish
7:00-8:30 pm Hospitality Suite sponsored by Sigma Financial Corp.

WEDNESDAY, JANUARY 21

7:15 am Continental Breakfast
7:45 am Housekeeping
8:00-11:00 am Estate Planning and Portability
    Jim Frank, JD, LLM
The 2012 Tax Reform Act's permanent changes to the federal estate, gift and generation skipping transfer taxation rules have been in force for over two years, yet most clients in the “wealthy, but not too wealthy” category have not considered the effects of these changes on wills and trusts written as recently as a few years ago. The increase in the estate tax exclusion allowance to $5.3+ million and the ability to preserve any unused exclusion allowance at the first death for use at the subsequent death of a surviving spouse have opened interesting planning opportunities. Clients need to revisit prior planning decisions based on what are now outdated rules and assumptions. This presentation will examine how proper planning decisions in light of the increased federal exemption allowance, its portability, future capital gain tax exposure for trusts, and other Tax Reform Act provisions can significantly increase the wealth retained by the family.
12:00 noon Free Time
5:00 pm Group Dinner

THURSDAY, JANUARY 22

7:15 am Continental Breakfast
8:00-9:00 am Estate Planning for Non-Human Family Members
    Gerry Beyer, BA, PhD, LLM, JSD
Pets are becoming more important in ours and our clients' lives. Recent research shows that 75% of American dog owners view their animals as family members, and more than 50% of cat owners feel the same. Attorneys from some US jurisdictions report that when asked, 90% of their pet-owning clients want to make provisions for their animals, either through trusts or some other mechanism. This session will cover a range of options available when the client is no longer mentally or physically able to take care of the pet.
9:00-11:00 am Planning for the Cost of Health Care in Retirement
    Troy Simmons, CLTC
Planning for the cost of health care in retirement is a challenge to both client and advisor. For clients, it could be the biggest expense they will face. For you, as their advisor, it's an opportunity to ease their financial concerns while making your business stronger. In this presentation, we'll break down the complexities of this topic so that you can have productive conversations with your clients. We'll cover: how health care costs impact the retirement income challenge; what Medicare does-and does not-cover; what planning options you can present to help clients prepare; and we'll suggest two approaches (broad-based and personalized) that you can use to create a plan that addresses client health care costs.

 

Program Concludes