Seminar: Planning for Chronic Illness – Estate, Tax and Financial

Seminar: Planning for Chronic Illness – Estate, Tax and Financial

By: Martin M. Shenkman, CPA, MBA, JD

Disclaimer: This flyer may constitute attorney advertising. Neither this flyer, the seminar or materials to be provided constitute, and should not be treated as, legal, tax, or investment advice. They do not constitute recommendations of any particular planning technique, device or suggestion, or the tax or other consequences associated with them. The sponsors, authors and/or speakers do not assume any responsibility for your reliance on the information presented. You should determine independently the legal, tax and other consequences of using any particular device, technique or suggestion before relying on it.

Planning Considerations for Chronic Illness:

Frank, practical and vital advice that will be invaluable to the family and caregivers of those living with chronic illness - and their advisors

·How chronic illness changes planning: How different illness (Parkinson's, Alzheimer's, ALS (Lou Gehrig's), Huntington's, Crohn's, Myasthenia Gravis, Multiple Sclerosis) impact on the decision-making process. Estate planning is about much more than merely assets or taxes. This comprehensive seminar for advisers and those living with a chronic disease or disability conveys many of the answers to the frustrations and fears chronic illness brings, as well as concerns of their family, loved ones and caregivers.

·Estate planning: How to modify powers of attorney, health proxies, HIPAA releases and language, provisions to include in trusts and other documents concerning communications, independent evaluations, special distributions, etc. Using revocable trusts.Beneficiary designations. Title to assets.

·Cash Flow planning: Distributions from 401(k) and IRA accounts, home equity lines, borrowing from 401(k) plans and the 10% penalty waiver.

·Income Tax Considerations: Modification of your home, special tax treatment of 401(k) plans, reasonable cause, discrimination settlements.

·Financial Planning: Investment strategies, guaranteed income options, non-insurance investment programs with beneficiary protection. Access to safe deposit boxes.

·Disability and Overhead Insurance: Processing claims, tax and accounting issues.

·Life Insurance: Accelerated death benefits, borrowing against cash values, different types of cash value policies, 3 years transfer rule on insurance given to a trust, viatical settlements.

·Cognitive Issues: Impact of cognitive impairment and competency, what must be done from a planning perspective, and how soon. Security codes.

·Professional Advisers: What CPAs, Attorneys, Financial Planners, and other advisors need to know how to understand and accommodate the needs of clients living with chronic illness.

·Legal Documents: Helpful documents and planning ideas such as an "authorization to communicate" enabling advisers to reach out on behalf of a client with a chronic illness to wealth managers, financial planners, insurance agents, CPAs, trust officers, and others. Shareholder, buyout and other agreements.

Can't Attend: Audio recording of the entire seminar will be posted on in the Seminar Materials" section.

Exhibit Booths: Organizations serving those with chronic illness will be available to answer questions and to distribute materials for:

  • Professional advisers on planned giving opportunities and working with clients with chronic illness.
  • For those living with chronic illness and their caregivers.
  • National Multiple Sclerosis Society
  • Michael J. Fox Foundation for Parkinson's Research
  • NYU Langone Medical Center
  • Demos Medical Publishing
  • More to be announced

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