AEP Alert

Message from the Chairperson

Eileen
 

M. Eileen Dougherty, CTFA, CFP®, AEP®, ChFC®
Hawthorn - PNC Family Wealth
Philadelphia
, PA

Dear Fellow AEP® Designees:

With the first quarter of the year behind us, and our fresh outlook on life rekindled by spring's delightful weather, let's take a moment to check in with the Accredited Estate Planner® designation program. The AEP Alert is written just for you - please read on, and let us know what you think!

When it comes to interacting with our clients, this is a great time to visit with them to see what is new in their lives. Similarly, as an AEP®, this is a great time to evaluate what we are doing to increase our knowledge to better serve our important clients. If I may offer three suggestions:

  • Review Paul Pantano's article on Self-cancelling Installment Notes within the "Technical Corner" of this newsletter
  • Keep current by attending one or more webinars in the Robert G. Alexander Series (all active designees can take advantage of the lowest possible registration fee of $40!)
  • Register now to attend the 51st Annual Conference this November 5-7, 2014 in San Antonio

Finally, I would like to personally congratulate those who have recently received their designation.

I hope to see you in Texas in November.

Sincerely,

Eileen Dougherty

M. Eileen Dougherty

Webinar
NAEPC Monthly Webinar Series
 


NAEPC National Website

 

 

 

Robert G. Alexander Webinar Series: Next & Upcoming Programs

Please join us for the next (or an upcoming) webinar in our 2014 series.

Continuing Education Credit

Continuing education credit will be available at each webinar for Accredited Estate Planner® designees. In addition, a certificate of completion will be made available for those professionals that feel the program satisfies their continuing education requirements and are able to self-file. Councils may also file the program in their home state for programs offered in a group setting.

Registration Fee

•$40 / Accredited Estate Planner® designee (dues must be current at the time of registration)
•$60 / member of an affiliated local estate planning council or at-large member of NAEPC
•$100 / individual non-member
•$250 / council meeting or group gathering (council dues must be current at the time of registration)

Next Program

Wednesday, May 14, 2014
3:00 pm - 4:00 pm ET

"Cognitive Errors in Group Decision Making"

Expertise offered by:
Nancy B. Rapoport, JD

About the program:

This webinar will cover some universal cognitive biases and applying them to typical group decision making issues. As part of the webinar, we'll relate cognitive biases to ethics.

About the speaker:

Nancy B. Rapoport is the Gordon Silver Professor at the William S. Boyd School of Law, University of Nevada, Las Vegas. Her research fields intersect professional responsibility with bankruptcy law, corporate governance, pop culture, and social science. Nancy spoke at the 50th Annual Conference of NAEPC and The NAEPC Education last November and was quite the hit! Please plan on joining us for this exciting webinar.

This program is suitable for all levels of knowledge.

REGISTER NOW!

Upcoming Programs

June 11, 2014 – Laura J. Malone, CAP®, CEPA - "Helping Clients Create Their Charitable Legacy" REGISTER

July 9, 2014
- Paul S. Lee, JD, LL.M., AEP® (Distinguished) Nominee - "Family Investment Partnerships: Structure, Design, Issues & Problems (Beyond the Valuation Discount)" REGISTER

Past Programs

Missed a live program? Not to worry!

Archives of all programs are available by clicking HERE. The fee to participate is the same as the live feed.
"Perspectives on the Future of Estate Planning as a Profession" Lawrence Brody, JD, LL.M., AEP® (Distinguished) ∙ Stuart Kessler, CPA/PFS, JD, LL.M., AEP® (Distinguished) & Jeffrey N. Pennell, JD
"Special Needs Trusts, What Every Estate Planner Needs to Know" Bernard A. Krooks, JD, CPA, LL.M., CELA, AEP®
"The Changing Landscape of Planning for Gay and Lesbian Couples: Opportunities (and Risks) Post-DOMA" Erica Nadeau, CPA & Scott E. Squillace, Esq.
"The Hybrid Domestic Asset Protection Trust: a Third-Party Trust That Can Turn Into a Self-Settled Trust" (Intermediate / Advanced) Steven J. Oshins , JD, AEP® (Distinguished)
"How Collaborative Teams Work and Why They Are Essential For High Net Worth Clients" (All levels) Albert E. Gibbons, CLU®, ChFC®, AEP® (Distinguished) / AEG Financial Services
"2014 Heckerling Institute Highlights" (Intermediate) Martin M. Shenkman, CPA, PFS, MBA, JD, AEP® (Distinguished)
"The ATRA-Math: Estate Planning After the American Taxpayer Relief Act of 2012" (Intermediate) Thomas J. Pauloski, JD

The Technical Corner - Freezing Your Estate on a Hot August Night

Photo
 

Paul J. Pantano, CLU®, ChFC®, AEP® , CASL, MSFS
The Luttner Financial Group, Ltd.
Pittsburgh, PA

If you thought this article was going to be the lyrics for a Neil Diamond parody then you unfortunately will be disappointed. It is a very brief article on a method for "freezing" the value of an estate from the inclusion of future appreciation. The method for freezing the value of an estate when a family business is being transferred from one generation to another is with the use of a Self-Cancelling Installment Note (SCIN). A SCIN is a debt instrument which represents the obligation of the purchaser of a specific asset to pay the seller over time for the assets purchased. One of the specific terms of the note is that in the event of the death of the seller / creditor, the remaining debt will be cancelled automatically. The remaining amount that is forgiven will not be considered taxable income, as in the case of short sale real estate, etc., TO compensate the seller for this risk of cancellation, the terms of the note must reflect a risk premium either in the form of an increased purchased price over the fair market value or by using an increased interest rate on the note. Careful details to these details need to be maintained so that the transaction is not deemed a "gift" by the IRS.

The benefit to the seller with a SCIN is that any future appreciation to the asset will not be part of the sellers transfer taxation upon his death. A SCIN also provides a means of transferring an asset to the desired person during the client's lifetime without any transfer taxation because it is a sale and not a gift. It can also be a funding source for retirement for the seller especially when the business he built was most likely his largest asset. The purchaser will be entitled to take an income tax deduction for the interest portion of the payments they make and the seller will be taxed on the interest they receive. If the seller is concerned about the potential of the lost value of the remaining asset if he were to die before the note were to be fulfilled, then the use of a life insurance policy could certainly be crafted to pass the value of his wealth to intended beneficiaries. This is a brief synopsis to alert you to this technique. It's still out there and is still a great tool if used in the right context by the right professionals. Just another reason to seek out an AEP®!

Member Benefits, Programs & Services

NAEPC strives to offer our designees high-quality benefits, programs and services at value pricing. We continually look for opportunities that will enhance the value of your membership and make your practice more efficient.

We are very proud to make the following benefits available to you, our Accredited Estate Planner® designees, at reduced prices or substantial discounts. A brief description of each product or program can be found online in the member benefits section of our website, along with pricing and ordering information. Some of the resources are even complimentary – take a look today! Be aware, however, that your password may be required to view some of the information. Please use the "I forgot my password option" if necessary.

New Benefit

Cloudia Assistant

CloudiaCommissions are down. Expenses are up. It's time to start being frugal and increase profitability… the days of waste are over. Stop overpaying for overpriced:

  • CRM's bloated with features you'll never use
  • Drip Marketing programs that are difficult to configure and use
  • Automatic Commission Calculation systems
  • Lead Tracking systems
  • Training & Support
  • QUOTE ENGINES that are limited in what they actually quote

Now you can get Cloudia Assistant, the top CRM created by an insurance company for insurance agents and agencies, for only $29.99 per user per month. Cloudia Assistant includes the most powerful and easy to use drip marketing system available, automated commission calculation system, lead tracking, free training and support, and, if you mention you were referred by NAEPC, you will get our quote engine absolutely free until July 4, 2015. Also, our quote engine quotes more than you think:

  • Health
  • Dental
  • Indemnity
  • Short Term
  • Accident
  • Critical Illness

That means you can quote package deals for your customers covering all their needs in one shot. Cloudia Assistant is so focused on your success that it will even text you when your client has reviewed the quote so you can act fast to respond while they are in the frame of mind to buy insurance.

Get Cloudia and get affordability, ease of use, a quick learning curve, free support and a free quote engine for more than a year. There is not a better value for insurance people anywhere!

Call 817-778-4508 or e-mail info@cloudiaassistant.com for more information, demo or Click Here to Sign-Up for a free 15 day look. Please place "NAEPC" in the field asking for your referral.

Please log into our members-only area for special pricing and ordering links.

I-ASK (International Association of Story Keepers)

I-ASKI-ASK is a network of Certified Legacy Planners, estate planners and wealth managers dedicated to educating families about the value of holistic estate planning. Members team up to provide educational seminars, focusing on the valuables and the values side of estate planning, differentiating them in the marketplace.

I-ASK members provide advice and assistance to individuals and families in LegacyStories.org, a family history web library, offering everything needed to organize, preserve and pass down a durable legacy portfolio.

I-ASK Professional Membership is $149/year and includes:

  • Listing in the LegacyStories.org expert directory: http://www.legacystories.org/
  • Licensed marketing collateral and presentation videos
  • Live holistic estate planning educational and marketing webinars
  • Legacy Vault for cloud-secured legacy portfolio storage
  • Discounts on legacy-builder toolkits and other products and premiums
  • Networking with members for reciprocal client referrals
  • Learn more here: http://www.legacystories.org/about/estate-planner

NAEPC members are entitled to a 20% discount on their I-ASK Membership. For security reasons, our coupon codes change frequently. Please send coupon requests to support@LegacyStories.org and include your name, phone number, and the name of your affiliated local council.

Please log into our members-only area for special pricing and ordering links.

AICPA Conference on Tax Strategies for the High-Income Individual, May 19-20, 2014 - Las Vegas

BrochureBrought to you by the AICPA, this high-impact conference is your chance to dig deep into new tax policies, measure their impact and define clear objectives for the future of your high-income clients. Top tax experts will get you up to speed on the 3.8% surtax, the Affordable Care Act and the implications of the Supreme Court decision on same-sex couples. Plus, you will learn strategies for minimizing the impact of increased tax rates, so you can take action on key issues with confidence. Become an ally to your high-income clients and expand your role as a trusted adviser. Take your first step with this conference.

Download the brochure HERE!

NAEPC members can take advantage of a special discount, creatively named "NAEPCTAX," which provides $100 off the onsite or online registration fees. This special offer can be combined with the AICPA member discount and the AICPA section discounts.

See complete information about AICPA Conference on Tax Strategies for the High-Income Individual, May 19-20, 2014 - Las Vegas.

Existing Benefits

  • Acquire Seminar Marketing
  • Advisys Back Room Technician
  • American Dream Planner Software
  • Amicus Creative Media
  • BizActions enewsletters for practioners
  • BVR's Guide to Business Valuation Issues in Estate & Gift Tax edited by Linda Trugman, CPA/ABV, CBA, ASA, MBA
  • Cards for a Cure
  • Charitable Planning Desk Reference for Advisors offered by Strategic Philanthropy
  • CBData Software to Simplify Your Life
  • Cloudia Assistant
  • CrummeyService, America's Leading ILIT Software Company
  • DocuBank: Emergency Access to Vital Documents
  • Estate Planning Smarts, A Practical, User-Friendly, Action-Oriented Guide, By Deborah L. Jacobs
  • EstatePlanningBinders.com
  • Family Business Magazine
  • Fiserv Investment Services
  • Florida Domicile Handbook: Vital Information for New Florida Residents
  • Heart2Hearts: Workbook and Deck of Cards, Discuss Directives, LLC
  • International Genealogical Search Inc.
  • International Association of StoryKeepers (I-ASK)
  • Klark Proposal Software
  • Konica Minolta Business Solutions
  • Lawgic, LLC
  • LegacyQuest, LLC
  • Legal Binder Now (LBN)
  • LegalVault - Revolutionizing Attorney Document Storage
  • My Perfect Will
  • My Personal DataSafe LLC, the Nation's Most Comprehensive System for Sharing and Managing Client Information
  • NationalUnderwriter.com
  • Oswald Companies Personal Excess Liability
  • Private Wealth Magazine Subscription
  • Ruby Receptionists
  • The ABA Checklist for Family Heirs: A Guide to Family History, Financial Plans and Final Wishes
  • Sterling Cut Glass
  • The Ultimate Estate Planner, Inc.
  • Trusts & Estates Magazine
  • Veracity – MTG (payment processing solutions)
  • Wall Street-themed Greeting Cards
  • WealthManagement.com
  • Wolters Kluwer Law & Business

We congratulate the newest Accredited Estate Planner® designees and celebrate their accomplishment:

Janet L. Barr, ChFC®, CLU®, AEP®

Santa Barbara, CA

Robert Lloyd Bjur, CFP®, CFC, CWA, AEP®

Bainbridge Island, WA

William J. Boersma, CLU®, LIC, AEP®

Grand Rapids, MI

Riley John Busenlener, CPA/ABV, ASA, JD, AEP®

New Orleans, LA

Steven M. Carr, JD, LL.M. (taxation), AEP®

Boston, MA

Brian J. Cummings, CFP®, ChFC®, AEP®

Charleston, SC

Jerry J. David, CLU®, CFP®, MBA, AEP®

Milwaukee, WI

Kenneth K. Haycraft, CFP®, ChFC®, CLU®, CWS, MBA, AEP®

Scottsdale, AZ

Dale Ann Kaiser , JD, AEP®

Wellesley, MA

Adam P. Keller, CFP®, AEP®

Richardson, TX

Patrick Alexander Kessel, ChFC®, CLU®, CASL, LUTCF, FSS, AEP®

Keosauqua, IA

Kay Lynn Mayhue, CFP®, AEP®

Atlanta GA

Michael S. Orentlich, CLU®, CFP®, ChFC®, CASL, AEP®

Westborough, MA

Mitchell William Ostrove, CLU®, ChFC®, AEP®

White Plains, NY

James Peluso, CTFA, AEP®

Melville, NY

Vicente M. A. Pina, CLU®, ChFC®, FLMI, LLIF, AEP®

Portland, OR

Lisa M. Rico, JD, LL.M. (taxation), AEP®

Needham, MA

Steven M. Ruderman, CPA, CFP®, CRPC, AEP®

Houston, TX

Keith A. Schmidt, CPA/PFS, AEP®

Spokane, WA

Garnet M. Sherman, CFP®, AEP®

Highland Park, IL

Beverly S. Virciglio, CPA, AEP®

Birmingham, AL

Wayne W. Wilson, JD, EPLS, AEP®

Madison, WI

Subscription Options

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If you want to receive more frequent and timely communication about the NAEPC and its educational programming and member benefits, please be sure to subscribe here.

National Association of Estate Planners & Councils 1120 Chester Avenue, Suite 470 Cleveland, OH  44114
Phone: (866) 226-2224  ~  Fax: (216) 696-2582  ~  E-Mail: admin@naepc.org


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