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2024 Institute Agenda

Sunday, January 28

5:00-6:00 pm – Registration and Reception

6:00-7:00 pm – Dinner


Monday, January 29

7:15 am – Registration and Continental Breakfast


8:00-9:50 am

Best Practices in Buy-Sell Planning (especially after Connelly)   

April Caudill, JD, CLU, ChFC, AEP

Effective buy-sell planning requires well-written legal documents, deep knowledge of income tax implications, and practical experience with a wide range of planning concerns. Special attention will be given to the surprising 2023 ruling from the Eighth Circuit in Connelly v. United States. In this presentation we will examine both technical and practical aspects of this process, along with the latest updates, pitfalls to avoid, and strategies for overcoming challenges.


You will learn:

  • How to overcome pitfalls and common misunderstandings in buy-sell agreements

  • What went wrong in the Connelly v. United States decision from the Eighth Circuit, and strategies to avoid this outcome

  • How to assist your clients in obtaining the most effective buy-sell agreement for their business

  • Real life trends and findings from Principal’s database of thousands of agreements over the past 10 years

10:00-11:50 am

Tax and Estate Planning for Art and Other Collectibles

Jeremiah W. Doyle, IV, Esq.

This session will explore the income tax aspects of being a dealer, collector, investor, or creator of all forms of collectibles, i.e., art, wine, automobiles, sports memorabilia, and more. The discussion will review the income tax rules for deductibility of expenses of maintaining the collection, the ability to deduct losses, and the taxation of gains on the sale of the collection. In addition, the program will review the complex rules governing the inter vivos charitable gifts of collectibles including the related use rule, gifts of future interest, the partial interest rules, fractional sales of art, bargain sales, and the use of a private operation foundation to maintain the collection. Also discussed are estate and gift tax considerations of owning and disposing of collectibles.


You will learn:

  • How the status as a dealer, collector, investor, or creator affects the income tax consequences of collectibles

  • The complicated rules involving lifetime charitable gifts of collectibles

  • How gifts of collectibles to a private operating foundation can be useful in maintaining control of a collection

12:00 pm – Sit-down Lunch


1:00-3:50 pm

Navigating the Complex Issues of Affluent Families and Closely Held Businesses:
A View from a Collaborative Team

James S. Aussem, JD, AEP

In this dynamic session attendees will explore the many facets of business succession planning in today’s environment. The Golucki family and HG MFG, Inc. are in shambles. Harry Golucki, the founder and sole owner HG MGF, Inc., has died of COVID-19 with limited plans in place for his business or estate. In this complex but not uncommon scenario, the Golucki business and estate have been passed to his two children from a previous marriage with his second wife a beneficiary of his deferred-compensation agreement.

         Using the case study format, the moderator will lead the discussion among a panel of experts who act as the planning team. The goal will be to provide the Golucki family with guidance and solutions on issues such as the need for an estate plan, possible insurance for key person purposes, balancing the estate equities, retaining key employees, general risk management, income tax issues, as well as the clear need for a comprehensive retirement/financial plan. The nontechnical “soft issues” add a layer of analysis which makes the case study both challenging and quite entertaining.


Learning Objectives:

  • Define how to assure a comfortable retirement for the Harry’s widow

  • Ensure continuation of the company

  • Determine how to terminate the cash flow drain used to continue the deferred-compensation and health care benefits

  • Create a business plan for the adult children who now co-own a business with different opinions on how the company should be run

5:00-6:00 pm – Reception


Tuesday, January 30

7:15 am – Continental Breakfast


8:00-9:50 am

Alternative Investments and Portfolio Construction: A Risk-Based Framework

Aaron M. Filbeck, CAIA, CFA, CFP, CIPM, FDP

In this session, we will discuss a few approaches to goals-based investing and how portfolio management can be used as a more effective tool to achieve client goals. We’ll then dive into the growing, yet complex world of alternative investments and discuss a few ways to simplify the many strategies available to your clients. Finally, we’ll walk through portfolio implementation considerations when incorporating alternative investments into a diversified portfolio.


You will learn:

  • How to categorize the evolving and often complicated world of alternative investments

  • How to better incorporate alternative investment strategies into a diversified portfolio

  • How to think through a portfolio construction approach that begins with your client’s goals and objectives in mind

10:00-10:50 am

The Impact of SECURE 2.0 Act on Employers


Signed into law on December 29, 2022, the “Consolidated Appropriations Act, 2023,” is a major package of retirement savings provisions known as “SECURE 2.0 Act”. This is the cumulation of changes made by the Setting Every Community Up for Retirement Enhancement (SECURE) Act of 2019. 

         This is formidable; the statute consists of over 1,600 pages of text, with effective dates ranging retroactively and into 2033. There are some provisions that need clarification and further guidance.


What You’ll Learn:

  • Information and talking points to discuss how these changes impact retirement plan operation.

  • The impact of SECURE 2.0 on employers and employees

  • Tax credits that are available to reduce costs on employers and incentivize employees

  • How to provide a plan review to correct possible errors made in the operation of a plan

11:00-11:50 am

Tax Mitigation and the Cash Balance Plan


A cash balance plan is a defined-benefit plan that defines the benefit in terms that are more characteristic of a defined-contribution plan. A cash balance plan defines the promised benefit in terms of a stated account balance at retirement, instead of a series of monthly payments for life.

        While large companies became interested in this type of plan after the Pension Protection Act of 2006 many small companies and closely held business are also incorporating its benefits.  There are two factors driving the growth: 1) The plans provide a way for small to midsize businesses to receive a significant tax benefit for employee contributions to the plan, and 2) they allow participants to accelerate retirement savings on a tax-advantaged basis beyond what they could put into a 401(k).


What You’ll Learn:

  • How a cash balance plan operates

  • Tax credit incentives that may apply

  • How a cash balance plan can optimize savings

  • How to use life insurance for income-tax-free benefit on a tax-deductible basis.

  • Insights from a cash balance plan case study

12:00 pm – Sit-down Lunch


1:00-3:50 pm

Midlife Wealthy Divorce and Blended Next Families

Lisa Cukier, JD

Firstly, divorce of couples in the midlife stage and age range of approximately 45-70 years of age involves handling high-level alimony arguments stemming from the fact that this demographic is: at prime income earning years, analyzing choate and inchoate inheritance and estate expectancy from the older generation, analyzing the manner in which family trust distributions have been wound into the fabric of the marriage for the benefit of the couple and their children, dividing active closely held businesses that may entail challenging issues of postdivorce fiduciary control,  managing emotions related to empty nesting and the challenges of telling adult children and long-standing in laws about the divorce, and managing consequent family dynamics. 

        Secondly, divorce of wealthy couples entails sophisticated asset structures, complex executive compensation schemes and high-level valuation issues. It involves analysis and protection (or invasion) of family trusts and protection (or division) of family business interests. It involves strategic tax minimization planning and strategic estate planning to push assets to the next generations. 

        Thirdly, wealthy midlife divorce is characterized by the need for uber-privacy and confidentiality that flows from the safety risk of public disclosure of affluence and abundance, and protection from denigration of family name, stature, and reputation. The manner in which these divorces are handled is key to a successful outcome by which both parties and the family and succeeding generations are protected from reputational injury and adverse public discourse and damaging bad press that can ruin a family name and enterprising family interests.

5:00-7:00 pm – Reception and dinner


Wednesday, January 31

7:15 am – Continental Breakfast


8:00-9:50 am

Planning Ideas to Kick Off 2024 and Beyond  

Victor Ngai, JD, CLU, ChFC, RICP

The current political, legislative, and socioeconomic environments create many planning opportunities for financial services professionals. We will explore several of these ideas and how they impact personal, estate, business, and legacy planning.


Learning Objectives:

  • Working with underserved markets

  • Recognizing the impact of current political environment on estate planning

  • Understanding the impact of current socioeconomic environment on business planning

  • Addressing nontax planning for legacy

10:00-11:50 am

Getting to Know Medicare

Carly Rosswurm

This session will take a deep dive into Medicare and the important role it plays in clients’ retirement plans. Carly Rosswurm, Director of Medicare Solutions at Ash Brokerage, will cover some of the top Medicare questions and issues, including: what is covered by Medicare, is Medicare needed if working past 65, where to get more coverage, and what does Medicare cost. Learn how you can help your clients navigate the Medicare maze and make informed choices regarding important health care options after retirement.


You will learn:

  • Things to remember when turning 65

  • Leaving employer plans? When to stay, when to go

  • An Overview: Medicare 101

  • The difference between Medicare supplements and Medicare Advantage plans

  • Selling Medicare plans–compliance, certification, and best practices


12:00 pm – Adjournment
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