Wealth Advisory Conference

calendar icon June 20, 2019

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RXR Conference Room

400 RXR Plaza
Uniondale, NY 11556

Intended Audience: Accountants and Financial Planners

clock icon4:00pm - 7:30pm

Contact Info:
Carmela Lamberta
Email: clamberta@farrellfritz.com

Avoiding Litigation Over a Power of Attorney:  Important Considerations for both the Principal and Agent

Presenter:  Brian P. Corrigan, Esq.

  • Gifting of the principal’s assets
  • Compensation of the agent
  • Ability of an agent to amend the principal’s trust agreements
  • Effectively terminating the agency
  • The agent’s obligation to account judicially
  • A Perilous Crossroad:  the agent’s actions during principal’s lifetime vs. the inheritance interests and expectations of others in the principal’s estate

Trusts:  5 Key Distinctions Every Accountant & Financial Planner Should Appreciate

Presenter:  Joseph T. La Ferlita, Esq.

  1. Revocable trusts vs. irrevocable trusts: in what situations does each make sense for our clients?
  2. Grantor trusts vs. non-grantor trusts:  what is the difference, what are the potential benefits of grantor trust status, why many professionals misdiagnose grantor trust status, problems encountered in turning off grantor trust status.
  3. GST exempt trusts vs. GST non-exempt trusts: when should GST exemption be allocated affirmatively, when is it automatically allocated, and how investment & distributions for exempt vs. non-exempt trusts should differ.
  4. NY resident trusts vs. non-NY resident trusts: what makes a trust subject to NY fiduciary income tax, and how can a NY trust be exempt from NY tax?
  5. Silent/quiet trusts vs. fully-disclosed trusts: can we keep the trust a secret from the beneficiaries?

Qualified Opportunity Funds (QOF): What They Are, and Estate Planning Options

Presenter:  Louis Vlahos, Esq.

  • What is a QOF?
  • Investing in a QOF
  • Deferral of taxable gain
  • Elimination of taxable gain
  • What to look out for
  • How to incorporate into an estate plan

Registration: 4:00 p.m.; Program: 4:30 p.m. – 6:30 p.m.
Reception to follow.

Participants will receive 2 CPE or CFP credits.
CPE credits: 1 in Taxation and 1 in Advisory Services.