March 2020 Chapter Dinner Meeting

We will start at 5:30pm with a half hour of open networking with hors d'oeuvres and a cash bar. At 6:00pm we will take our seats and hear opening remarks and then proceed to our first presentation topic. At approximately 7:00pm we will then enjoy a buffet dinner and at 7:30pm we will proceed with our second presentation topic.

Estate Planning Under the Secure Act  and Other Tax and Estate Law Changes of the Last Decade 

(This session has been accepted by CFP Board for 1 CFP CEU)

Neil R. Lubarsky, Esq.

Our presenter, Neil R. Lubarsky, Esq., an estate planning, elder law, tax and asset protection attorney with offices in Purchase, NY, will explain how the Secure Act in many cases negatively affects, and for most individuals significantly shortens, the period of time over which IRA beneficiaries are required to draw down distributions and pay income tax thereon, as well as which beneficiaries are still eligible to take IRA distributions over their life expectancies and which existing IRA beneficiary trusts will no longer function as planned. Also discussed will be how to minimize the risk of clients having to pay New York State estate taxes, sometimes at marginal estate tax rates in excess of 100%, by properly utilizing each spouse's New York State estate tax exemption, and by using various gifting options designed to avoid the tax. Attendees will also learn how to minimize the risk of clients having to pay future federal estate taxes, in an uncertain tax law environment, by properly utilizing portability and spousal lifetime access trusts. Moreover, the benefits of various types of asset protection trusts, as well as how and when irrevocable trusts can be changed, will be addressed.   

Learning objectives: (1) Learn about how the Secure Act and other legal and tax developments of the past decade have affected the estate planning process, which beneficiaries can still use a stretch IRA and under what circumstances, and which existing IRA beneficiary trusts need to be redrafted in order to avoid potential tax disasters and actual loss of assets; (2) Learn about the federal estate tax exemption, where it may be headed, when and why the portability election is significantly underutilized, why the portability election should be made more often, and how and when to beneficially use spousal lifetime access trusts; and (3) Learn about the New York State estate tax exemption, how to minimize the impact of marginal estate tax rates in excess of 100%, when to use state estate tax exemption trusts, and what gifting strategies can be effectively used to avoid the New York State estate tax.

Level of Complexity: Intermediate

The Power of One: Understanding & Serving Divorcees & Widows

(This session has been accepted by CFP Board for 1 CFP CEU)

Sheridan Culhane, Business Development Associate

MFS Fund Distributors, Inc., a subsidiary of MFS Investment Management® (MFS®)

Our second speaker, Sheridan Culhane, will provide an overview of the personal, financial and emotional challenges faced by female divorcees and widows. Attendees will be given the tools needed to help them navigate critical financial and family issues. The session will also show how to build trust and provide meaningful solutions, creating powerful relationships and lifelong clients. Ultimately, the session is designed to help you empower female clients to use their newfound "power of one" to take control of their financial and personal future. 

Learning Objectives: (1) Learn solutions to healthcare challenges due to longevity; (2) Learn how to advise clients regarding when and how to claim Social Security benefits; and (3) Understand the financial and emotional impact of caring for aging parents.

Level of Complexity: Intermediate

Click here for speaker bios.

THE FIRST FIFTEEN NON-MEMBER, FIRST-TIME ATTENDEES WHO REGISTER ARE WELCOME TO ATTEND FOR FREE! 

Must be prospective members to take advantage of this special offer. 

Advance registration required by contacting FPA GHV Chapter Executive Lori Somerville at lori@fpaghv.org or 877-817-8400.