National Association of Estate Councils & Planners The Association of Choice for Estate Planning Professionals
November 2020

You are receiving this newsletter because you are an active Accredited Estate Planner® designee, a member of NAEPC through your estate planning council's affiliation, or have subscribed to receive communication from NAEPC.

Message from the President

John P. "Jack" Garniewski, Jr., CPA/PFS, CFP®, AEP®
Family Office Solutions, LLC
Wilmington, DE

Dear Members & Friends:

What a whirlwind these last few months have been! The year may be coming to a speedy close, but the best is yet to come. We have two very exciting events planned for members during the remainder of 2020, along with a private event for council executives / paid council staff, and I hope you will attend those that are appropriate for you.

Our first event, the 57th Annual NAEPC Advanced Estate Planning Strategies Virtual Conference, brings nationally-recognized speakers right to your desk and provides an opportunity to cultivate your national network of estate planning professionals. The conference is for all estate planning professionals and offers an experience that goes beyond a Zoom meeting. Join us to hear from industry leaders Martin M. Shenkman, CPA/PFS, MBA, JD, AEP® (Distinguished), Richard M. Weber, MBA, CLU®, AEP® (Distinguished), and Natalie B. Choate, Esq., AEP® (Distinguished). You can learn more within this newsletter or by visiting our website and I hope you will be in attendance for this very special—and complimentary—conference.

Special Note for AEP® Designees and Council Leaders:
The virtual annual conference will also include NAEPC's annual meeting & election of officers. Please attend the general session from 12:00 pm ET - 12:25 pm ET to participate in this important event.

We will also be hosting a special conference just for council executives / staff members, which you can learn more about on our website. This event will give executives an opportunity to unite with the network of council executives / colleagues within the association management profession while addressing important topics like business matters unrelated to the council, technology platforms, engaging leadership, the response to COVID-19, and diversity / equity / inclusion.

Calling all Accredited Estate Planner® Designees and Estate Planning Law Specialist Certificants! Clear your schedule for Wednesday, December 2, 2020 because we are planning an event just for you. Join us from 12:30 pm ET - 2:00 pm ET for the 10th Annual AEP® and EPLS Forum and Election Ceremony for the NAEPC Estate Planning Hall of Fame® Class of 2020. This uniquely collaborative educational experience and first-of-its-kind event will allow active Accredited Estate Planner® designees and Estate Planning Law Specialist certificants to enjoy a brief keynote presentation from two of the profession's leading experts followed by three small breakout sessions moderated by members of the NAEPC Estate Planning Hall of Fame®. Learn more and register for this event on our website.

We hope you will take full advantage of your membership by attending the events that are appropriate for your membership type. As always, contact our national office if you have any questions.

In closing, as my presidency begins to wind down I am proud of the work we have done this year and how we navigated the rough waters caused by COVID-19. I owe a hearty "thank you" to our board of directors for all that they do each day for NAEPC, but especially this year.

Sincerely,

57th Annual NAEPC Advanced Estate Planning Strategies Virtual Conference—Complimentary for Members & Guests

Be Part of Something BIG November 10, 2020 — 11:30 am ET - 5:00 pm ET

The 57th Annual NAEPC Advanced Estate Planning Strategies Virtual Conference brings nationally-recognized speakers on topics of interest to multi-disciplinary professionals right to you at your desk and provides an opportunity to cultivate your national network of estate planning professionals. The conference is for every member of every estate planning council and all estate planning professionals.

Schedule of Events

11:30 am ET	Networking & Exhibit Hall Open
	30-Minute Sponsor Bonus Session Life Settlement Solutions for Liquidity Needs Created by COVID-19 Jamie L. Mendelsohn & Jon Mendelsohn session brought to you by Ashar Group Covid-19 has created a need for liquidity for many of your clients.  If you have stalled relationships and are looking for new ways to engage them, change the conversation. This session will use multiple case studies to show attendees how the policy appraisal discussions open doors to not only life settlements, but to other related revenue opportunities within your practice area. The same processes can be used to develop new relationships and centers of influence.
12:00 pm ET	Welcome & Opening Remarks
	NAEPC Annual Meeting & Election of Officers
12:25 pm ET	General Session: "Estate Planning in Light of the Election Results"  Martin M. Shenkman, CPA/PFS, MBA, JD, AEP® (Distinguished) This presentation will address potential considerations for various election outcomes, including a Republican victory, Democratic Victory but Republican Senate, or a Democratic sweep... select just one, as it will be multiple choice!
1:25 pm ET	Networking Break & Exhibit Hall Open
1:55 pm ET	General Session: "Are You in Good Hands?"  Richard M. Weber, MBA, CLU®, AEP® (Distinguished) This session will offer an exploration of suitability and client best interest in the sale and purchase of life insurance.  Attendees will be among the first to learn of the regulatory movement substantially increasing the standard of care owed to buyers of life insurance. While mainly affecting licensed agents and CERTIFIED FINANCIAL PLANNER™ designees, non-licensed allied professionals will likely be caught unaware of these regulatory changes.  Attendees will learn: a description of enhanced regulations currently in effect in various states; information about comparable changes in the fiduciary obligations of CERTIFIED FINANCIAL PLANNER™ designees to their clients; practical tools that currently exist to meet these requirements - fulfilling both the letter and spirit of the new requirements; how many new life insurance products defy the consumer's (and agent's) ability to determine the amount of risk the client takes to achieve an expected reward; and how allied professionals will likely want to interact with their clients going forward.
2:55 pm ET	Networking Break & Exhibit Hall Open
3:15 pm ET	General Session: "The Ins and Outs of QCDs"  Natalie B. Choate, Esq., AEP® (Distinguished) Qualified charitable distributions are a popular tax saving device for all IRA owners over 70.5 - helping the "little guy" as well as the rich and famous. They're easy, they're simple, and people still mess them up. During her presentation, Natalie Choate will offer 12 things you didn't know about QCDs.
4:15 pm ET	Closing Remarks
4:20 pm ET	Networking Reception & Exhibit Hall Open
	30-Minute Sponsor Bonus Sessions (two choices) Option #1:  Oil & Gas Assets—Fiduciary Risk Mitigation and Regulatory Issues​ Wes Turiano session brought to you by Farmers National Company Oil & Gas Management  This session will describe how Fiduciaries can manage risk associated with management of oil & gas assets held in trust, through prudent and pro-active management. The presentation will include three key elements of a successful oil & gas management program: a) planning for oil & gas ownership (due diligence, pre-acceptance evaluations, market valuations); b) management of oil & gas assets (revenue accounting, land administration, revenue maximization, leasing); and c) risk issues associated with oil & gas assets (title curative, lease values, dormant mineral filings, working interest review). Option #2:  Positioning Your Business for Growth Mike Thurman session brought to you by White Glove The current pandemic has forced everyone to alter, or in some circumstances, completely halt their marketing efforts this year.  However, now more than ever, clients are seeking professionals to provide much needed education and estate planning assistance.  Join this session to discuss real results the sponsoring firm has seen in the industry and what new methods have helped financial professionals partner with estate planners to position their business for growth.
5:00 pm ET	Conference Concludes

Registration 

 
Due to the incredibly generous support of our sponsors and exhibitors, this program is available on a complimentary basis to registered members and guests.  Those who register and are unable to attend are asked to cancel on or before Friday, November 6, 2020. REGISTER HERE

Continuing Education Credit

Continuing education credit and certificates of completion are only available to those who attend the LIVE program.

Continuing education credit will be requested for Certified Financial Planner™ (CFP®) and Certified Trust and Financial Advisor* (CTFA) designees and will be available for Accredited Estate Planner® (AEP®) designees.  Credit will be available to those who attend the LIVE VIRTUAL conference general sessions and complete attendance verification requests. In addition, a certificate of completion will be available for those who are able to self-file, attend the LIVE program, and complete attendance verification requests.  

Approval Status:

CFP® Designees
Up to 3.0 hours of credit for attendance at the general sessions provided by Shenkman, Weber, and Choate.

CTFA Designees
American Bankers Association Professional Certifications has approved the 57th Annual NAEPC Advanced Estate Planning Strategies Virtual Conference for up to 3.75 CE credits for attendance at the general sessions provided by Shenkman, Weber, and Choate.

AEP® Designees
Up to 3.75 CE credits for attendance at the general sessions provided by Shenkman, Weber, and Choate.

The 57th Annual NAEPC Advanced Estate Planning Strategies Virtual Conference has not been filed for legal, insurance or accounting credit.  A certificate of completion will be available for those professionals within these disciplines who are able to self-file/report, attend the LIVE program, and complete attendance verification requests.  

We are extremely grateful for the generous support that allows us to offer this conference to you free-of-charge. Please visit with the sponsoring and exhibiting firms during the conference or learn more about the following sponsors now by clicking each logo below:

We are also grateful for the supporters that planned on being with us at the in-person 57th Annual Conference and have agreed to join us next year in Las Vegas, Nevada for the 58th Annual Conference, especially those sponsors at the Premier, Partner, and several at the "Your Way" level of support. We encourage you to continue to familiarize yourself with these organizations throughout the year, and to reach out to them as needs arise.

Premier Sponsor

  

Partner Sponsors



  

"Your Way" Sponsors

  

Brought to you by Eric L. Weiner and the Multi-Disciplinary Teaming Sub-Committee of the Accredited Estate Planner® Designation Committee

In this issue of the Collaboration Corner, our author shares what his work in medicine taught him about collaboration with professionals from different disciplines, a lesson also relevant to estate planning professionals. Following is his belief about the levels of collaboration and an example of a successful Basic Collaboration that is likely to convert to a higher level in the future.

A Low Collaboration level means all professionals work separately and have little or no communication between them. This is the "silo" approach that appears all too often in the estate planning world. Within Basic Collaboration, advisors work separately, but have periodic communication, mostly through email and telephone. There is some general understanding of the importance another advisor may bring to the table. Moderate Collaboration encourages communication between advisors. Input and integration in plan development and implementation is encouraged. With High Collaboration advisors from several disciplines are fully integrated in plan development and implementation. There is also open and regular communication and greater elements of cooperation and coordination between professionals involved and the clients they serve (see NAEPC Model for Collaboration).

In this example there is a family of four with two adult children, one married and expecting, the other single. The parents think they should "rip the band aid off" by gifting an annual six figure income to each child, but are anxious about carrying out the plan and, as a result, the family and the trust attorney were both stuck. The trust attorney has worked with this family for over twenty years and during that period approximately ten trusts were created. During their twice-yearly meetings the attorney has observed numerous family issues that go beyond his level of expertise: communication blocks, conflict, drug abuse, to name a few. A big stumbling block also involves the father's lack of contact with his siblings and while his parents set up a generation skipping trust, the siblings have yet to meet with the attorney to discuss the parameters of the trust and its proper administration.

The communication issues within the family are significant. Generation three is frustrated with their father who takes time to consider options and often doesn't respond at all to their inquiries and requests, which infuriates his children and his wife and requires the mother to be the link between the next generation and their father.

As a result of these issues, I was brought into the team as a family relationship expert with a primary focus on overcoming communication challenges and my meetings with the parents proved to be most productive. With time they were able to gradually make decisions that were previously avoided. They are currently "completely out of our kids financial picture and it is the best thing for us." Significantly, the father is now in contact with his siblings and, for the first time ever, they have all agreed to have an estate meeting with the trust attorney! There was also talk, at one point, of inviting me to one of the annual family meetings to assist in the development of a family mission statement because a greater understanding of family values and mission would aid the work of all professionals involved.

In my follow-up communication with the attorney, he confirmed the positive changes reported by the family. A higher level of collaboration is likely to be needed in the future and this example clearly indicates that greater collaboration means more positive outcomes for shared clients.

What examples of collaboration come to mind for you? I urge you to use this column to write about your collaborative experiences and to share them within the NAEPC group on LinkedIn.

Who We Are Reflections on the Values of NAEPC This month we are pleased to feature a piece originally submitted by William D. Kirchick, Esq., AEP® in 2013. Bill will be taking the office of president of NAEPC on January 1, 2021 so we think this is the perfect time to share his message again. As an estate planning attorney, among the most important goals in working with my clients is to make their estate plan tax-efficient and give them some peace of mind that the security of their family will be well provided for. However, these goals cannot be achieved in a vacuum but must rely on the team approach of working with accountants, trust officers, insurance agents and financial advisors, all of whom pursue the same goals as I do. NAEPC and the affiliated local councils all share the unique interdisciplinary approach of working together to help our clients attain a high degree of financial literacy and an estate plan that will provide a high level of satisfaction. Having held the Accredited Estate Planner® designation for over 17 years* now assures the other members of the team whom I work with that I possess the skills and experience necessary to carry out what my clients seek to obtain for their family's financial well-being and that of successive generations. Being recognized with the AEP® designation, which is only conferred by NAEPC, is not only a means of fulfilling one's personal aspirations, but also gives the client a degree of comfort in knowing they will be working with a highly qualified professional to accomplish their goals. *At the time of the publication of this newsletter, Bill has been an AEP® designation holder in good standing for nearly 25 years.

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