In the biggest bill for retirement planning in years, Congress is poised to change the law for life expectancy payouts to either a five- or ten-year payout. This legislation has strong bipartisan support and is supported by the President.
Advisors, CPAs and lawyers will need to quickly pivot with innovative strategies for this new paradigm. If you wait until this bill is signed before beginning to pivot you will miss the 2019 planning opportunities. This class will cover:
Understanding the change in life expectancy payouts on traditional and Roth IRAs
Impact of the loss of deferral and bracket compression on wealth transfer planning
Using CRTs to maintain deferral and bracket management - the law and the math
Roth conversions for better bracket management and greater wealth transfer
Designing IRA trusts and the terrible payout result with RMD conduit trusts - the law and the math
Using IRA trusts in low tax states to achieve state tax savings by avoiding or delaying the state taxation of the lump sum payout
Using single life insurance to enhance bracket management - the unbiased math
Using Second-to-Die insurance to increase wealth transfer
Urgent action steps for ill and dying clients including avoiding conduit trusts and using out of state trusts.
Charitable strategies for the mass-affluent and the wealthy
It is a fundamental belief that every investment decision is also a tax decision. Retirement planning, investments, education planning, legacy planning, and life insurance are all parts of a wealth management plan that have tax consequences. As a CPA, helping clients make tax-smart investment decisions within wealth management plans can help revitalize both your practice and your client relationships while minimizing client tax liabilities.
Learning Objectives – Attendees will leave this session
Understanding the importance of integrating tax planning and wealth management planning into one comprehensive conversation with clients throughout the relationship.
Discovering that there are tools that can help advisors communicate the importance of tax-smart investment strategies to help clients make better decisions to minimize taxes as part of their wealth management plan.
Duncan Gates, CFP, Senior Wealth Management Strategist, HD Vest Financial Services
This presentation provides detailed discussions of global, national and regional economies using the most up-to-date data available. Special attention is invested in critical elements of economic life, including the performance of financial, labor, and real estate markets. At the end of this presentation, audience members will:
Understand the myriad ways in which global economic dynamics are impacting the U.S. economy.
Understand which industries are expanding the fastest in America.
Understand how policy-making continues to shape economic outcomes in the U.S.
Understand the primary sources of risk to the current expansion cycle.
Understand key factors shaping the U.S. economic outlook in the near and far terms.
Academics and industry experts have placed a spotlight on health care costs that US households can expect to incur during retirement. Most Americans understand that annual heath care costs have been growing faster than inflation, and they are also cognizant that they will likely consume more health care services as they age. As a result, pre-retirees and retirees are concerned about how health care costs will impact their retirement, and how they will pay for them. To better understand the financial planning implications of annual health care costs and long-term care expenses, Vanguard has partnered with Mercer Health and Benefits to develop a proprietary model to forecast the range of health care costs for pre-retirees and retirees. This session will address the research and planning considerations for health care and long-term care expenses in retirement.
The participant will gain an understanding of the new model developed by Vanguard and Mercer Health and Benefits forecasting health care costs for US retirees. The model proposes several changes to the way health care costs are typically discussed and modeled when planning for retirement.
In addition, the session will emphasize the considerations impacting the annual health care costs including health status and risk, employer subsidies, Medicare coverage choices, retirement age, geography and income in retirement.
Lastly, long-term care costs represent a unique and distinct planning challenge that should be taken into account separately.
In this session, we will build on the session from last year, where we examined an approach to improving the link between fees and value. The approach to pricing innovation depends on the target client segment. Advisers looking to target non-traditional clients (e.g. younger clients, clients who wish to manage their own assets) must innovate on the price metric. Advisers who wish to remain focused on traditional HNW clients have to work harder to define and regulate the value they deliver to clients of different sizes. In this session, we will summarize our latest thinking on these two approaches, including a summary of the key points that advisers must consider when undertaking innovations of this kind. Learning Objectives:
Understand the options open to advisers who want to take an innovative approach to linking fees and value.
Learn the key considerations involved in each alternative pricing strategy.
Financial advisors have long used options to create specific outcomes for clients, whether they be income-oriented or to protect capital. This session will focus on how specific strategies and simplifying complex concepts can be useful in shaping investor behavior.
Explain how options can create defined outcomes in portfolios
Identify strategies that positively influence investor behavior
Annuities have had their share of detractors over the years. The reality is annuities currently serve a critical purpose for millions of Americans – adding a level of security, while helping alleviate some of the financial worry for the future. This presentation will address:
Common objections to annuities including cost, complexity, liquidity and tax considerations.
The benefits of annuities including a discussion of some of the protective features offered by annuities today.
The value of incorporating guaranteed income into a comprehensive retirement income plan.
Provide several actionable talking points to help advisors understand and overcome common objections to annuities and start the important conversation about retirement income planning.
Help inform investors to be in a better position to determine whether an annuity makes sense as part of their overall financial plan.
With 10,000 baby boomers retiring every day for the next decade, now more than ever is a critical time to give thoughtful consideration to the variables playing a role in retirement planning advice. This dynamic panel of experts led by moderator Bob Veres will actively explore how current client trends along with the changing landscape impact key assumptions including investment returns, inflation, longevity/life expectancy, spending (and changes over time) and Social Security.
Gather information about key variables and assumptions that impact clients who want to retire.
Uncover the latest methodology and studies which lead to informed assumptions.
Gain knowledge as to what your peers and other leading professionals are planning for in retirement forecasting.
There is a revolution taking place in how advisors provide financial planning advice to clients, and how financial planning software is evolving. Join FinTech expect Joel Bruckenstein, and a panel of industry experts as they discuss the evolution of financial planning advice and the software that supports it.
Learn about the changes taking place in how financial planning advice is provided.
Understanding the challenges that the next generation of clients wants advisors to solve for
Explore new financial planning techniques 4. Understand how software is evolving to support the evolution of financial advice
In part 1, a brief overview will be provided of investing for higher education, and an update on changes happening in the legal and political landscape. Then we will dive into conversations you should be having with every client in every age group about college planning.
The second part of this presentation will be focused on the ABLE savings program, which allows people with disabilities to open tax advantaged savings accounts that do not count against income limits for government benefit programs. This presentation will provide CPA's and other professionals with an additional tool to help people with disabilities and their families save for the future.
By the end of this session participants will:
Have an excellent understanding of the benefits of 529 plans, as well as how to discuss college savings with your clients.
Learn about the benefits of the ABLE Savings Program.
Be provided with an additional tool for people with disabilities to save for the future.