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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.

Runtime: 92 minutes
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Why Lorman?

Over 33 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 33 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

MP3 Download

  • Arizona CLE 1.5
     
  • CA MCLE 1.5
     
  • CT CLE 1.5
     
  • HI CLE 1.5
     
  • ME CLE 1.5
     
  • NJ CLE 1.8
     
  • NY CLE 1.5 including Areas of Professional Practice 1.5
     
  • VT CLE 1.5
     
  • WA CLE 1.5
     
  • WV MCLE 1.8
     
The CLE Code is ONLY a requirement when applying for CLE Credit in California (for participatory credit), Kansas, New Jersey or New York. Other states do not need to supply the CLE Code to apply for CLE credit.

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

OnDemand Course

Applications have not yet been submitted for Delaware, Idaho, Kentucky, 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.

  • AK CLE 1.5
     
  • Alaska attorneys may receive 1.5 hours of continuing legal education for completing this program. Please contact the Alaska Bar Association or go to www.alaskabar.org for details regarding reciprocity with other states.
     
  • AL CLE 1.5
     
  • This course or a portion thereof has been approved by the Alabama State Mandatory Continuing Legal Education Commission for a maximum of 1.5 hours credit.
     
  • AR CLE 1.5
     
  • This course has been approved for 1.5 hours of CLE by the Arkansas CLE Board.
     
  • Arizona CLE 1.5
     
  • The Arizona State Bar does not pre-approve or pre-certify MCLE programs. However, records of this program and attendance will be maintained by Lorman Education Services for auditing purposes. This activity may qualify for up to 1.5 hours toward your annual CLE requirement for the State Bar of Arizona.
     
  • 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.
     
  • CT CLE 1.5
     
  • Neither the Connecticut Judicial Branch nor the Commission on Minimum Continuing Legal Education approve or accredit CLE providers or activities. This course has been approved for CLE credit in jurisdictions aside from CT and therefore it automatically meets the content and delivery requirements in Connecticut. Credit is based on a 60 minute credit hour and shall be awarded as follows: 1.5 CLE credit(s).
     
  • HI CLE 1.5
     
  • This program was approved by the Hawaii State Board of Continuing Legal Education for 1.5 CLE credit hours.
     
  • IL CLE 1.5
     
  • This course was approved for a total of 1.5 hours of MCLE Credit by the Illinois MCLE Board.
     
  • ME CLE 1.5
     
  • This course has been approved by the State of Maine Board of Overseers of the Bar. Lawyers who complete this course shall receive 1.5 hours of CLE credit under M. Bar R. 12.
     
  • ND CLE 1.5
     
  • North Dakota CLE policy does not allow for pre-approval of any self-study courses. This course may qualify for up to 1.5 hours of CLE credit.
     
  • NH MCLE 1.5
     
  • NH MCLE does not approve or accredit CLE activities for the NH Minimum CLE requirement. Lorman Education Services believes this Ondemand course meets the requirement of NH Supreme Court Rule 53 and may qualify for CLE credit(s). Program Length: 91 Minutes.
     
  • NJ CLE 1.8
     
  • This program has been approved by the Board on Continuing Legal Education of the Supreme Court of New Jersey for 1.8 hours of total CLE 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.
     
  • PA CLE 1.5
     
  • This Distance Learning program has been approved by the Pennsylvania Continuing Legal Education Board for 1.5 hours of substantive law, practice and procedure CLE credit.
     
  • RI CLE 1.5
     
  • This program has been approved by the Rhode Island Mandatory Continuing Legal Education Commission for 1.5 hours of CLE credit.
     
  • VT CLE 1.5
     
  • This self-study program has been approved by the Mandatory Continuing Legal Education Board of Vermont for 1.5 hour(s) of CLE credit. Please note: Attorneys may only claim 6 credits per compliance period in this format. This course is considered "Non-Moderated Programming without Interactivity".
     
  • 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.
     
  • WI CLE 1.5
     
  • This program qualifies for 1.5 hour(s) of ondemand CLE through the WI Board of Bar Examiners.
     
  • WV MCLE 1.8
     
  • This program has been approved by the West Virginia State Bar MCLE Commission for 1.8 MCLE hours.
     
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 33 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

Elaine King

Family & Money Matters

  • Founder of Family & Money Matters
  • Areas of practice include family financial planning and education, family office and governance
  • Has spoken for Family Firm Institute and Financial Planning Association
  • Publications include Family and Money Matters Next Gen, 2010; 7 Habits for your Financial Well Being, 2015; 5 Strategies for Couples Financial Planning, 2018; Four Key Words for a United Family, 2013; Your Life Plan in U.S., 2014; and Four Strategies for Family and Money, 2012
  • Advanced certificate in family business advising, Family Firm Institute; Certified Financial Planner; Florida Supreme Court family mediator; Certified Divorce Financial Analyst™; and Certified Financial Education Instructor (CFEI)
  • Postgraduate degree in family therapy, Georgetown; M.B.A. degree, Thunderbird; B.B.A. degree, St. Mary’s University, financial planning FIU; executive coaching UM
  • Can be contacted at 305-432-300
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 33 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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Pay once and get a full year of unlimited training in any format, any time!

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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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