Estate Plan Issue Spotting for Financial Advisors
Justin W. Whitney, JD, LLM Tax, CPA
The presentation will discuss tax and non-tax issues that financial advisors should keep top of mind when discuss estate planning with their clients. These include an overview of considerations present applicable to revocable and irrevocable trusts, estate tax, income tax, GST tax, family circumstances, and asset protection. Noteworthy code sections, regulations and case law will be addressed along with practical considerations. Advanced topics such as dynasty trusts, grantor retained annuity trusts, life insurance trusts and family limited partnerships will also be explained.
Justin Whitney focuses his practice on estate planning, probate and trust administration, trust and estate litigation, tax planning, and drafting of trusts, wills and corporate documents. Justin prepares basic and complex estate planning documents and implements sophisticated planning techniques on behalf of his clients. He also assists high net worth individuals and closely-held businesses with business succession planning and tax planning, including the formation of corporations, partnerships and limited liability companies, and structuring of corporate reorganizations and recapitalizations.
Hosting Family Summits that Engage the Next Generation
Tammy Breitenbach
If advisors want to help clients pass wealth and values to the next generation, they have to engage effectively with the next generation. If they want to make their firm sustainable and keep clients, they need to do the same. Many advisors are struggling to engage the next generation and keep the family wealth – and the plan – with their firms. One solution is to adopt Family Summit Meetings (or Family Planning Meetings) as a valuable strategy for creating engaging and meaningful multi-generational planning.
Hosting a Family Summit meeting comprises a very deep and consultative role where the advisor engages with the whole family as trusted facilitator to help the family pass on their values, purpose, and wealth to the next generation. The planning, preparation and day-long meeting are about what matters most to the clients to be shared with their heirs. Many families have difficultly conveying their estate amounts and wishes to their children or heirs. Family Summits solve for this.
This presentation will cover how to plan and deliver a successful Family Summit for clients to share their wishes and integrate the Family Summit meeting as a valuable service in their practices.
Each business or practice is a unique “ecosystem” with its own personality and features. Tammy finds that by understanding the history, the team, and what makes each practice tick, she can advise how to implement improvements or processes in the way that will work effectively for them. She gets “under the rug,” so to speak, to really understand the story behind changes advisors want to make, and who is involved – this helps Tammy get to the real issues with them, and target the root of where to begin.
Tammy is passionate about helping advisors draw real satisfaction from their practices – that includes running a business that functions well to support their bigger wants and purpose in life. Not take them away from it.
Prior to joining Carson Group in 2018, Tammy spent 10 years of private consulting as the Principal Consultant of Catalyst Partners, a company she founded in 2008. At Catalyst, Tammy specialized in providing hands-on business counsel and leadership advice exclusively to owners of Independent RIAs and their key staff, to help them grow stronger, more profitable businesses. Previous to launching Catalyst, she served for seven years in successive roles as Director of Practice Management and Director of National Sales Development for H&R Block Financial Advisors (now Ameriprise Financial Services) in Kansas City. There she managed a team responsible for increasing client acquisition and productivity for financial advisors in 120 retail offices.
Tammy has a Bachelor’s degree in Journalism from Kansas State University and an Executive MBA from the Henry W. Bloch School of Business at the University of Missouri-Kansas City. She and her husband, Darrin, live in Wichita, Kansas.
In her free time, Tammy enjoys time at the lake with family, cooking for fun and investigating unique eateries off-the-beaten-path.
Continuing Education: Two hours CFP® and Kansas Insurance
This meeting is sponsored by Gold Partner:
