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    The Synergy Summit

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    Issue 27 - October, 2017

    NAEPC Journal of Estate & Tax Planning

    Editor's Note: Forget "Must Love Dogs" - Go with "Must Love DSUE"
    No dogs were injured in the writing of this note.
    Author: Susan P. Rounds, JD, CPA, LL.M., AEP®, TEP

    Accredited Estate Planner® Designee - Top Pick (See previous top picks)

    Checklist: Annual Review (PDF file)
    This cool tool provides a quick overview of the suggested areas to review with your estate planning clients each year.
    Author: Martin M. Shenkman, CPA, MBA, PFS, AEP® (Distinguished), JD

    Features

    Crowdsource Funding to Help Victims of the Las Vegas Massacre (PDF file)
    This just in! The issues surrounding crowdfunding are numerous and complex. In order to provide some on-the-spot technical guidance in an area with little law and less guidance, these "Masters Among Us" quickly developed this road map to motivate quick and compassionate action in the wake of this and other charitable causes you and your clients are considering.
    Authors: Martin M. Shenkman, CPA, MBA, PFS, AEP® (Distinguished), JD, Bernard A. Krooks, Esq., and Jonathan G. Blattmachr, Esq.
    A First Look at Congress' Tax Reform Blueprint - What Advisors Need to Know Now to Better Inform Their Clients (PDF file)
    This indispensible commentary not only explains the Unified Framework for Fixing our Broken Tax Code, but it goes much deeper and analyzes the potential issues and planning opportunities that may arise.
    Reproduced courtesy of Leimberg Information Services, Inc. (LISI)
    Authors: Robert S. Keebler, CPA/PFS, MST, AEP (Distinguished) and Jim Magner, JD, CLU®, ChFC®
    Innovative Trust Designs Better Serve Inheritors (PDF file)
    Why grant only three wishes when you can grant them all? Learn what is on every estate planning client's "wish list" and which drafting provisions can accomplish these universal client aims.
    Originally published in the June 2017 issue of Estate Planning. Reproduced with permission.
    Authors: Richard Oshins, MBA, LL.M., AEP (Distinguished) and Paul Hood, Jr., JD, LL.M.
    Planning in Uncertain Times - Part III (PDF file)
    The final segment in the trilogy Planning in Uncertain Times continues the discussion of the cost of delaying planning by incorporating an illustration utilizing dynastic planning and life insurance.
    Reproduced courtesy of Leimberg Information Services, Inc. (LISI)
    Author: Robert W. Finnegan, JD, CLU®
    Balancing Collaboration With the Attorney-Client Privilege (PDF file)
    Collaboration is frequently recognized as a best practice. The authors highlight the need to maintain confidentiality in this framework and examine the importance of striking a balance between increased collaboration and preserving the attorney-client privilege.
    Originally published in the March 2017 issue of Trusts & Estates. Reprinted by permission.
    Authors: Charles Douglas JD, CFP®, CAP®, AEP®, Judi Cunningham MA, FEA and Jennifer Devine Odom, JD
    Complacency. Motivation. Retention. (PDF file)
    Looking for ways to engage clients in the financial planning process? Understand the intrinsic and extrinsic motivational factors and techniques advisors can use to garner good results, client retention, and bonus - an increased probability of referrals.
    Author: Bronwyn L. Martin, PhD, MBA, ChFC®, CLU®, AEP®, CRPC®, CFS®, CMFC®, CLTC®
    High Performance Organizational Teams (PDF file)
    As the world of estate planning becomes increasingly interdependent, and many of us strive to accomplish our client's objectives through multi-disciplinary teaming, how can we structure teams that are truly high performing? Laying out the difference between 'groups' and 'teams' and identifying the markers of an actual team and the stumbling blocks to getting there, the authors provide a roadmap that leads to true TEAMWORK.
    Reproduced courtesy of Leimberg Information Services, Inc. (LISI)
    Authors: Nancy B. Rapoport, J.D. and Charlie Douglas J.D., CFP®, CAP®, AEP®
    Reviewing a Life Insurance Policy: The Owner As Pilot (PDF file)
    A practical spin on a lofty topic. A handy list of 10 questions to chart your course when reviewing a life insurance policy.
    Reproduced courtesy of Ultimate Estate Planner
    Author: Jason Oshins, MBA
    Built-in Gain Tax Liability: Defend Yourselves! (PDF file)
    There is a potential value reduction for Built-in Capital Gain Tax Liability (BIGL) for certain assets owned by an estate. This detailed and technical paper takes us through the history of the case law culminating in the Estate of Richmond, which supports a value reduction based on an assumed future liquidation date of the corporation's assets. The author lays out the valuation and accounting principles inherent in calculating the deduction and argues against using future expectations as a basis for valuation.
    Author: James Lisi, CVA, MBA
    Proposed Regulations Under Code §2704 Finally Die (PDF file)
    Find out if they actually pulled the plug. The autopsy results for the infamous Proposed Regs under 2704.
    Reproduced courtesy of Leimberg Information Services, Inc. (LISI)
    Author: Keith Schiller, Esq.
    Fees for Life Insurance Consulting? Why Would I Do That? (PDF file)
    For our NAEPC Journal readers. A great question deserves a great answer. Learn about a novel phenomena in the insurance industry: Fee-based consulting.
    Author: Bill Boersma, CLU®, LIC, AEP®

    News Nook: A Compendium of Current Affairs

    The NAEPC Journal of Estate & Tax Planning Tax Update (PDF file)
    Author: Scott E. Swartz, JD, LL.M., AEP®
    Tax Topics - September: "Unified Framework for Fixing Our Broken Tax Code" & August: Possible "Extenders" Bill if Tax Reform Doesn't Pass (PDF file)
    Author: Blanche Lark Christerson, JD, LL.M. (taxation)
    Practical Planner Newsletter (PDF file)
    Author: Martin M. Shenkman, CPA, MBA, PFS, AEP® (Distinguished), JD
    NAEPC Monthly Technical Newsletter
    Reproduced courtesy of Leimberg Information Services, Inc. (LISI)

    The opinions expressed by authors do not necessarily reflect those of the National Association of Estate Planners & Councils. We continue to source original articles for publication in The NAEPC Journal. If interested, contact us at editor@naepcjournal.org.

    ALL INFORMATION IN THIS WEBSITE AND THE JOURNAL IS PROVIDED “AS IS”, WITH NO GUARANTEE OF COMPLETENESS, ACCURACY, TIMELINESS OR OF THE RESULTS OBTAINED FROM THE USE OF THIS INFORMATION. ALL INFORMATION IN THIS WEBSITE AND THE JOURNAL IS WITHOUT WARRANTY OF ANY KIND, EXPRESS OR IMPLIED, INCLUDING, BUT NOT LIMITED TO WARRANTIES OF PERFORMANCE, MERCHANTABILITY AND FITNESS FOR A PARTICULAR PURPOSE. See complete disclaimer.

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    Edited by:


    Susan P. Rounds,
    JD, CPA, LL.M. (taxation), AEP®, TEP

    Published by:

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