CE & PD Session Descriptions

CE 101

A World-Wide View: U.S. Gift and Estate Planning for the Affluent Noncitizen
John Oliver, CLU, ChFC

Our economy is global…are your clients?  Today’s planners need to understand how citizenship affects gift and estate tax planning for affluent noncitizen clients. This presentation will look at how a client’s residency status can have a major impact on his or her ultimate wealth transfer. Through case studies, you’ll see how a lack of cohesive planning can cost clients millions. In addition, planning for transfers to noncitizen spouses will be examined to determine if commonly accepted planning tools really work for a “mixed-marriage” client. A broad range of subtopics are included.

CE 102

Is Your Cheese on the Move?Fiduciary Issues and Life Insurance Company Product Management
Ben Baldwin, Jr., MSFS, MSM, CLU, ChFC, CFP, AEP
Ben Baldwin III, CFP, ChFC

In the old paradigm of the life insurance and annuity business success was determined by asking: How much new premium do you write?   What will define success in the new paradigm?  Production?  Retention? Assets under management?  Recurring revenues?  Over time, life insurance and annuities become more valuable and need more attention and more service. Over time, most life insurance and annuity compensation declines.  This contradiction provides financial rewards for nonfiduciary behaviors.  Product innovation and obsolescence have been rapid and frequent, encouraging transactions into new products with front-loaded commissions and liquidity-destroying surrender charges.  Is this a fiduciary-friendly structure?  Is there an alternative in your future? Ben Baldwin, Jr. and Ben Baldwin III will explore how these and related issues will affect your future.

CE 103

Creative Executive Benefit Techniques
James Soressi, Esq., AEP, MSFS

This presentation will describe creative techniques using nonqualified executive benefits to attract, retain, and reward key executives.  It will include a discussion on the use of bonus plans, including a restrictive bonus plan, as well as viable nonqualified deferred compensation planning after 409A.  The appropriate use of the different types of split dollar, economic benefit and loan regime, will be explored through the use of case studies.  The benefits of private split dollar within the estate planning arena also will be reviewed together with appropriate exit strategies.

CE 104

Investing Qualified Plan Money
Lawrence Wiener, CLU, ChFC

Different types of qualified plans require different investment approaches. Investment objectives for defined benefit plans focus on demographics and timelines that do not involve 401(k) plans. Profit sharing plans and 401(k) programs approach investments in a far more aggressive manner. This presentation will discuss the differences and how to build an appropriate portfolio to meet those differences.

PD 105

Leveraging Your Employee Benefit Client Relationships
Richard Bell, CLU, ChFC, CFP, MSFS, RHU, REBC: Moderator
Beth Ashmore
Andrew Torelli, CLU, ChFC, MSFS

The panel will discuss how they cross-sell their group medical insurance clients to include individual coverage, retirement and other benefit planning, estate planning, personal financial planning, and business succession planning. The panelists’ respective practices vary widely, from a solo practitioner to a practice with multiple offices to one who has a presence in several states.

PD 106

10:15 a.m. – 11:45 a.m.
Braving the New World of Financial Underwriting
Phil Chuba, CLU, FALU,FLMI, ACS

Financial underwriting is a critical aspect of working with large cases. The agent/broker can speed the underwriting process and improve the likelihood of obtaining insurance in the amount requested by knowing how to package the case to give the underwriter, and potentially the reinsurer, the necessary information. Learn what to look for and how to organize and present cases so that your information is as clear and complete as possible.

CE 201

Estate Planning in Special Situations: A Discussion of Intergenerational Problems and Practical Solutions
Terry Stanaland, JD, ChFC, CPA

In a post-estate tax environment, or in an environment of larger estate tax exemptions, estate planners are in a position to apply many of their tried and true techniques to the income tax. Explore the uses of intra-family installment sales, self-canceling installment notes, charitable remainder trusts, and life insurance as income tax savings devices. Practitioners will be prepared for any tax environment which may be presented. 

CE 202

Constructing a Sensible Investment Portfolio in the Current Financial and Economic Environment
Hugh Johnson, MA

Mr. Johnson will provide an analysis of the current financial market and economic environment. He will quantify the outlook with specific forecasts for the economy, interest rates, and equity prices. He will, on the basis of that forecast, provide a guide to constructing/structuring an investment portfolio in the current environment using individual securities, Exchange-Traded Funds, and mutual funds. He will also address concerns on important topics facing investors to include the implications of the housing crisis, the credit crisis, China, and the election on portfolio structure.

CE 203

The Ethics Course
Tracy Oishi, CLU, ChFC, LUTCF
 

This interactive workshop on professional ethics in practice is pre-approved to meet the two-hour CFP Board ethics CE requirement. Designed to enhance your awareness and understanding of ethical issues facing financial service professionals, you’ll engage in open dialogue on ethics with other members of your professional community, support your ethical decision-making skills, increase your understanding of the CFP Board Code of Ethics and Professional Responsibility as well as the FSP Code of Professional Responsibility, and allow you to meet your CFP Board continuing education requirements in ethics.

CE 204

Life Settlements and SOLI: Are They Right for Your Clients?
Jordana Balsam

This session covers the pros and cons of life settlements and stranger-owned life insurance: when are they appropriate and when not; what you need to know to benefit the consumer.

PD 205

Boom-Generation Women: The 21st Century Tsunami Catalyst for Effective Intergenerational Financial Planning
Margaret May Damen, CFP, CLU, ChFC, CDFA

Boom-Generation Women are 38 million of the healthiest, wealthiest and best educated women ever to reach midlife.  Author Tom Peters calls them the “greatest national economy on earth – larger than the GDP of Japan.”  Experts predict women born between 1943 and 1960 will control 60% of the nation’s wealth by 2010 and make 84% of all financial decisions.  Professional advisors who understand how BGW can impact values-based financial decisions among generational archetypes will attract and maintain the power, passion and purse of a cohort of women receptive to advice and counsel on how to invest and protect their lifetime financial independence and design their legacy gifts facilitated by appropriate financial strategies and products.  Advisors who create a sustainable environment for gender and generational synergy will serve as the center of influence and trusted advisor to a generation impatient and destined to control wealth in the 21st Century.

PD 206

Special Needs Planning
Diedre Wachbrit, Esq.
 

Experts estimate that one in ten Americans between ages 6 and 64 suffers from a physical, mental, or emotional impairment. While needs-based government programs play a special role for these individuals, they are not sufficient. The need for skilled advice, financial protection, and a comprehensive approach affects a large and diverse population. Learn some of the most costly special needs planning mistakes and how to best serve this important marketplace.

CE 301

Asset Protection Planning for Financial Clients
Jay D. Adkisson, JD

How financial professionals should approach the topic of asset management planning with their clients, and a discussion of contemporary and conservative strategies for asset protection.

CE 302

Defined Benefit Plans for the Small Closely Held Business Owner
Ernest Guerriero, CLU, ChFC, CEBS, CPCU, CPC, CMS

Today, many successful Americans generally share two financial goals:  saving taxes and saving for retirement. A Cash Balance Plan may help you do both. A Cash Balance Plan is a new concept in plan design. It is ideal for the business owners who:
  - Want contributions greater than $46,000
  - Want to benefit select employees
  - Want to minimize contributions for staff
The “Contribution Credit” formula in the Cash Balance Plan is not available in any other type of Defined Benefit plan, and the contributions far exceed what you can make to a Defined Contributions plan, in most cases.  Subtopics:  application of the Pension Protection Act of 2006; traditional plans; fully insured plans; cash balance plans; case study using cash balance plans; advanced designs; combining plans, IRS initiatives.

CE 303

The Mythologies of Risk and Retirement Income Planning
John Olsen, CLU, ChFC, AEP

This presentation examines the concept of “risk” in retirement income planning.  Using some unusual financial planning software tools, we’ll demonstrate why the way advisors usually think of “risk” (and how we describe it to clients) misses the whole point.  We’ll discuss methodological problems in “modeling the future” and consider alternative ways to illustrate the “One Big Risk” in retirement income planning, as well as ways to help our clients manage that risk.

CE 304

Advanced Estate and Asset Protection Planning with Tax-Qualified Dollars
Robert Alexander, JD, LLM, AEP, EPLS

This presentation includes a discussion of relevant marital issues, funding marital family and dynasty trusts with tax qualified money, as well as leaving tax qualified money to a variety of other trusts. These include inheritor trusts and special needs trusts; disclaimers of retirement benefits; charitable giving opportunities with retirement assets; planning opportunities with employer securities; how to protect retirement benefits using life insurance products; supercharging family wealth and asset protection planning combining tax qualified money; life insurance planning; and grantor trusts.

CE 305

Just Take the Money: The Importance of Extracting Ego, Identity, and Wealth from the Business and How to Do It
Terry Stanaland, JD, ChFC, CPA
Ben Baldwin, Jr., MSFS, MSM, CLU, ChFC, CFP, AEP

Business builders have a tendency to tie their ego, identity and net worth to their business.  The concept of separating from the business may be perceived as "never" early on and as a surprise when the time arrives.  Advisors can help business owners recognize that "never" really is "some time" and having it come as surprise is detrimental to business survival. Mr. Baldwin and Mr. Stanaland will address the importance of keeping business wealth consistent with working capital needs and withdrawal of the excess.  The discussion will emphasize how this goal can be accomplished including a discussion of choice of entity, dividends vs. capital gains, excess employee compensation, Subchapter S elections for C Corporations, and a foray into personal asset protection planning.

PD 306

It’s Not Cheaper by the Dozen: Twelve Common Life Insurance Mistakes
Terri Getman, JD, CLU, ChFC, AEP

Have you had to kill and reissue a business policy because of the requirements of new Section 101(j)? Protect your credibility and reputation by learning how to avoid this and other critical life insurance mistakes.

CE 401

Using FLPs and FLLCs: Great Financial Tools If Used with Caution
Stan Miller, Esq.
Carl Waldman, Esq.

Perhaps the most effective tool for reducing estate taxes is the use either FLPs or FLLCs.  But should you decide to walk down that path with your clients, you need to be aware of the landmines and traps that await you.  And if our clients have IRS trouble, we have trouble.  The IRS is getting smarter, finding more ways to catch your clients if they are too creative.  In this session, you’ll learn how to determine if a partnership plan is appropriate for your client and, if so, how to avoid IRS trouble while still taking maximum advantage of minority discounting and estate planning strategies offered by FLPs and FLLCs.

CE 402

Business Valuations for Gift and Estate Tax Planning: What Financial Planning Professionals Need to Know after the Pension Protection Act of 2006
Sam Torolopoulos, CPA-ABV, ASA

This session will review business valuation basics from a financial planner’s perspective. It will explain the difference between a control and a minority value conclusion as well as how factors such as “key man”, 50/50 shareholders, and voting rights can affect the conclusion of value for gift and estate tax purposes. In addition, we will discuss how pertinent provisions of the Pension Protection Act of 2006, IRS Notice 2006-96 and the Joint Committee on Taxation’s Technical Corrections Act of 2007 will affect your client’s estate plan. We will review issues of competence and independence as outlined in IRC 170. As a financial planning professional you will also learn what to look for when your client’s attorney needs to hire an independent valuation professional and, more importantly, how that professional fits into the “team approach”.

CE 403

The Risks and Rewards of Long Term Care as an Employee Benefit
Michael Batsell, MBA, CLU, CSA, FLMI, CASL

What’s working in the employer-sponsored market; who are the best prospects; what are the hidden risks for employers; how to design a plan that works.

CE 404

Managing Stock Market Risk: Should You Play Offense or Defense?
Keith Burck, CLU, ChFC, CFP

Learn how the irrefutable law of supply and demand can help you make better investment decisions; learn by “buy and hope” won’t work in the stock market; understand the stock market and risk in a new way.

PD 405

High Tech Tools and Tips to Enhance Productivity and Your Bottom Line
Richard M. Weber, MBA, CLU

Dick Weber, if not the original bleeding-edge technology enthusiast, is pretty close! Using his FSP Journal “Technology” column as a springboard, he will address business technology with a focus on the financial services professional’s needs and budget. Using technology to enhance business productivity and improve the bottom line will be the focus in this review of communication services and devices, computers, software, and other current and innovative technology. A view to the future will also suggest what’s ahead to make our business lives more productive and enjoyable, as well as reveal the next big tech boom already in progress.

PD 406

Succession Planning for the Financial Service Professional:  Understanding the Valueof Your Practice
Daniel L. Hughes, CLU, ChFC, CFP, CMFC

 A well thought out succession plan applies as much to the financial service professional as to any business owner in today's market place.  For financial services professionals, it is critical to understand the difference between a financial services practice and the financial services business you have developed. With the execution of a properly planned succession strategy, the financial services professional can accomplish two equally important goals: the successful transfer of his or her practice  to a successor and the care of clients, making the process a win-win for both the professional and the clients.

CE 501

 Income Tax Traps: Demystifying the AMT, Kiddie Tax, and Other Income Tax Traps
Thomas M. Brinker, Jr., LLM, CPA, ChFC, AEP

Unfortunately, the regular tax liability is not the final tax liability for our clients.  This seminar examines both the AMT, a “second” tax calculation that many taxpayers are forced to undertake annually in determining their final tax liability and the “Kiddie Tax.”  Recent legislation has expanded the grasp of the “Kiddie Tax,” while applying an AMT “Patch” to soften the ultimate impact of the “Add More Tax” provision.  In addition, this seminar will review other recent changes in tax law impacting individuals and their tax returns

CE 502

Planning for and Protecting the Elderly
Nancy Rice, Esq., CELA

This session will cover recent Medicaid legislation, including the Deficit Reduction Act of 2005, as well as state implementation rules that dramatically limit planning options for Medicaid eligibility; the use of annuities in the context of long term care cost management; and Long Term Care Partnership—which states are participating as of November 2008 and what financial planning professionals need to know.

CE 503

Charitable Legacy Planning: Family Foundations, Donor-Advised Funds, and Other Planning Techniques 
Michael Babikian, JD, LLM, MBA

Most people want to feel that their lives have made a difference.  They want to leave a legacy that speaks to who they are and what they believe in. This session gives you the means to help your clients achieve their personal, financial, and philanthropic goals while realizing significant income and estate tax advantages. Discover how to help preserve your clients’ wealth and extend their legacy to future generations while taking advantage of some of the most effective tax-saving techniques allowed by the IRS. And, in doing so, help to build value for your practice.

CE 504

Top Ten Retirement Distribution Planning Mistakes
April Caudill, JD, CLU, ChFC

The rules governing IRA and qualified plan distributions are among the most complex in the tax code, and an estimated $10 trillion of IRA assets are at stake. As baby boomers move toward retirement, they will seek advisors who can help them navigate these requirements, avoid tax traps, and create liquidity that allows them to maintain tax deferred income for the long term. Learn to identify and work around ten common distribution planning traps.

PD 505

How to Grow Your Practice Working with Allied Professionals: Avoiding the 10 Most Common Mistakes
Jonathan Mintz, JD

Learn the secrets to profitable relationships with lawyers, CPAs, and other allied professionals. Presented by an estate planning attorney, this practical session will address what these professionals are looking for in financial advisors and will give concrete suggestions as to simple things you can do—and not do—to grow your practice by working with allied professionals

CASE STUDY
“It’s Not Personal, Sonny, It’s Strictly Business”
 When the Family Business Passes from One Generation to the Next
Moderator:  Richard Weber, MBA, CLU
Panelists: Robert Alexander, JD, LLM, AEP, EPLS
Sam Torolopoulos, CPA-ABV, ASA
Dennis Axman, CLU, ChFC, AEP, CFP
Margaret May Damen, CFP, CLU, ChFC, CDFA