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OnDemand Course

Convergence of Estate Structure and Financial Advice

Learn the importance of coordinating financial planning with estate planning and how to overcome the reluctance of clients.

Many financial planners assist clients with estate planning, at least at a summary level and to make sure their clients at least have an estate plan. Fewer estate planners are even aware of much about their clients' financial plans (and there are economic reasons why this is so). The presenters of this topic will use a case study approach with four fact patterns to illustrate the importance of coordinating financial planning with estate planning. The two should not be developed in isolation from each other, or they may be at best uncoordinated and at worst in conflict. If developed in coordination, the two plans can provide powerful synergies.

92 minutes
Course Exam
Certificate of Completion
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Why Lorman?

Over 35 years and 1.4 million customers worth of experience providing continuing education. Our passion is providing you world-class training to help you succeed in business and as a professional.

Agenda

Convergence of Estate Structure and Financial Advice

  • Estate Structures, Defined
  • Financial Advice, Defined
  • Convergence: Where the Two Overlap and Need to Be Coordinated

Challenges to Coordinated Planning

  • Overcoming Client Reluctance
  • Overcoming Professional Rivalry or Turf Protection
  • Placing the Client Interest First, a Fiduciary Approach

Case Studies for Coordinated, Synergistic Estate and Financial Planning

  • Illustration of Uncoordinated Financial Plans and Estate Plans
  • Beneficiary Designations Clashing With Estate Plan
  • Cash Flow for the Surviving Spouse Conflicting With Estate Plan
  • Matching the Investment With the Technique (the Biggest Topic): GRATs vs. Installment Sales vs. QTIP vs. Joint Purchase Trusts
  • Creating and Maintaining a Family Bank: How a Structured Program to Manage a Fund for Intra-Family Loans and Investments Can Provide Great Benefits for a Family
    • Case Studies: After Introducing the Concepts, the Presenters Will Illustrate Them in Four Case Studies
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Why Lorman?

Over 35 years and 1.4 million customers worth of experience providing continuing education. Our passion is providing you world-class training to help you succeed in business and as a professional.

Credits

OnDemand Course

Applications have not yet been submitted for Delaware, Idaho, Kentucky, Maine, Ohio, Oklahoma, South Carolina, and Wyoming CLE for this course. However, if you are interested in obtaining CLE for any of the listed states or have any additional credit questions please email us at [email protected] or call us at 866-352-9540.

This course was last revised on October 7, 2020.

Call 1-866-352-9540 for further credit information.

  • AR CLE 1.5
     
  • This course has been approved for 1.5 hours of CLE by the Arkansas CLE Board.
     
  • CA MCLE 1.5
     
  • Lorman Business Center, LLC. is a State Bar of California approved MCLE sponsor and this course qualifies for 1.5 CLE hours of participatory credit.
     
  • NY CLE 1.5 including Areas of Professional Practice 1.5
     
  • This course has been approved in accordance with the requirements of the New York Continuing Legal Education Board for up to a maximum of 1.5 credit hours in the area(s) of Areas of Professional Practice for 1.50 hours. Each hour may be counted only as satisfying one category of credit. Duplicate credit for the same hour of instruction is not permitted. This course qualifies for both established and newly admitted attorneys. Lorman Business Center, LLC. has a financial hardship guideline. Please contact customer service at 1.866.352.9539 for instructions on how to apply.
     
  • UT CLE 1.5
     
  • This program has been approved by the Utah State Board of Continuing Legal Education for 1.5 CLE hours.
     
  • WA CLE 1.5
     
  • This program has been approved by the Washington State Board of Continuing Legal Education for 1.5 hours of A/V credit under the Law & Legal Procedure category.
     
The CLE Code is ONLY a requirement when applying for CLE Credit in New York. Other states do not need to supply the CLE Code to apply for CLE credit.

To earn each credit Lorman offers through the OnDemand learning platform, you need to watch 100% of the program. Also, for certain credits you will need to fulfill additional requirements which will be displayed on the "credits" tab when viewing the course.

This program does NOT qualify, nor meet the National Standard for NASBA accreditation.

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Why Lorman?

Over 35 years and 1.4 million customers worth of experience providing continuing education. Our passion is providing you world-class training to help you succeed in business and as a professional.

Faculty

Elaine King, CFP®

Elaine King, CFP®

Family & Money Matters

  • Founder of Family and Money Matters™, with the mission of empowering the family’s financial and human capital to achieve financial wellbeing
  • Served as the Family’s financial planner for over 1,200 families and 100 multigenerational family enterprises crafting actionable family financial plans
  • Financial education advocate, creator of the first family financial program in LATAM, and winner of the Best Latin book award
  • Recognized in 2020 in the list of Investopedia’s Top Influential Advisors and 2017 by People Magazine’s Top 25 Influential Hispanic Women
  • Featured in the WSJ, Forbes, Telemundo, and CNN, and is a columnist for financial journals in the U.S. and LATAM
Michael D. Whitty

Michael D. Whitty

Freeborn & Peters LLP

  • Attorney with Freeborn & Peters LLP
  • Areas of practice include estate planning, tax and family offices
  • Has spoken for Attorneys for Family Held Enterprises, Family Firm Institute, Lorman, and other online providers
  • Publications include ACTEC Journal; Real Property, Probate & Trust Law Journal; and Estate Planning
  • Certified Financial Planner; president, Attorneys for Family Held Enterprises; fellow, American College of Trusts & Estates Counsel; fellow, Family Firm Institute; certified in family business advising, Family Firm Institute; certified in family wealth advising, Family Firm Institute; Illinois Leading Lawyers
  • J.D. and BBA degrees, University of Texas at Austin
  • Can be contacted at 312-360-6192 or [email protected]
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Why Lorman?

Over 35 years and 1.4 million customers worth of experience providing continuing education. Our passion is providing you world-class training to help you succeed in business and as a professional.

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  • State Specific Credit Tracker
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Questions? Call 877-296-2169 to speak with a real person.

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Product ID: 407084
Published 2020
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