2018 Orange County Tax and Financial Forum
Don’t Miss This Event!
You are invited to the first annual Orange County Tax and Financial Forum, joining individuals in all areas of financial planning with top national tax and financial experts to grow business and successfully meet the needs of an expanding client base. Reserve your spot now!
Cost: FPA Members $50, Non-Members $70, Walk-Up $95
Lunch and Parking are included.
We anticipate offering 5.0 hours CFP® CE, 5. 0 hours CPA CPE, and 3.75 MCLE (pending).
RSVP: By Wednesday, October 10, 2018
|8:00 am||Registration and Networking|
||Welcome and Introductory Remarks|
||Gideon Rothschild, JD, CPA|
||Networking and Presentations|
|12:00 pm||Thomas J. Pauloski, J.D. (Lunch)|
|1:15 pm||Kevin Curtis|
|2:15 pm||Networking and Dessert|
|2:45 pm||Robin Kalota and Joy Berus, Esq.|
|3:45 pm||Concluding Remarks and Raffle Drawing|
|4:00 pm||PM Wine Reception|
Gideon Rothschild, JD, CPA
Moses & Singer, LLP, Past Chair of the Real Property Trust and Estate Law Section of the American Bar Association
Session Title: Why and How to Protect Your Client’s Assets from Creditors, Predators, and Departing Spouses
Summary: Asset protection planning has become recognized as an important and integral aspect of the estate planning process. No longer is asset protection limited to offshore strategies. Seventeen states have now enacted legislation providing creditor protection for self-settled trusts. Among the topics to be discussed – when to use domestic vs. foreign trusts; challenges against self-settled trusts; the use of discretionary trusts for asset protection; tax compliance for offshore trusts.
- How to integrate asset protection into the estate plan
- When to use self-settled trusts vs. discretionary trusts
- Identifying candidates for asset protection to avoid fraudulent transfer challenges
Level of Complexity: Advanced
Continuing Education: 1.5 hours CFP CE, 1.5 hours CPA CPE, 1.5 hours MCLE (Pending)
Bio: Gideon Rothschild is a partner with the New York City law firm of MOSES & SINGER LLP, where he co-chairs the Trusts & Estates and Wealth Preservation Group. He focuses his practice in the areas of domestic and international estate planning techniques for high net worth clients and is a nationally recognized authority on wealth preservation and offshore trusts.
Mr. Rothschild is the co-author of the BNA Tax Management portfolio on Asset Protection Planning and a member of the Editorial Advisory Boards of Tax Management Estates, Gifts, and Trusts, and Trusts and Estates. He is the author of numerous articles for publications including the New York Law Journal, Journal of Asset Protection, Trusts and Estates and Estate Planning, a former Adjunct Professor, University of Miami School of Law Graduate Program in Estate Planning, frequent lecturer on asset protection and estate planning to professional groups including University of Miami’s Philip E. Heckerling Institute, New York University Federal Tax Institute, the New York State Bar Association, the American Bar Association, the Southern Federal Tax Institute and the American Institute of Certified Public Accountants. Mr. Rothschild is also licensed as a Certified Public Accountant.
Thomas J. Pauloski, J.D.
National Managing Director for Wealth Planning and Analysis, Alliance Bernstein
Session Title: Trumping Uncertainty: Examining the Implications of the Tax Cuts and Jobs Act
Summary: The recent Tax Cuts and Jobs Act made significant changes to the tax laws affecting investors. Which strategies are likely to work best in the current tax environment? We will discuss challenges that investors currently face, compare simple gifts to “leveraged” wealth transfer strategies, review income tax deferral opportunities, and revisit valuation discounts after withdrawal of regulations that would have restricted discounting. Case studies and sophisticated wealth forecasting software will be used to highlight key issues.
- Understand the challenges and opportunities presented by the current investment and regulatory climate, with specific emphasis on the likelihood that (a) traditional asset classes will significantly underperform historical norms; (b) Americans are living longer and many may outlive their wealth; and (c) for many, tax-driven planning will focus on income rather than transfer tax objectives.
- For those who still need to engage in lifetime wealth transfer planning, enumerate the potential benefits of a leveraged transfer (e.g., installment sale) in today’s rising interest rate environment over a gift of the applicable exclusion amount.
- Understand how life insurance and annuities may be used in conjunction with high-return-potential, tax-inefficient investments to produce superior long-term outcomes.
- Demonstrate how transfers of leveraged assets may disproportionately benefit from (a) valuation discounts and (b) installment sales coupled with long-term debt instruments.
Level of Complexity: Intermediate
Continuing Education: 1.5 hours CFP CE, 1.5 hours CPA CPE, 1.25 hours MCLE (Pending)
Bio: Thomas J. Pauloski is National Managing Director for Wealth Planning and Analysis, the research division of Bernstein Private Wealth Management’s Private Client Group. He works with private clients and their advisors on wealth transfer strategies, focusing on tax-efficient wealth management and asset allocation decisions. Previously, Tom was a partner at the Chicago law firm of Winston & Strawn LLP, where he concentrated his practice in estate, tax, and business planning. Tom also has been a member of the Chicago law firm of Levin & Schreder, Ltd., a Vice President in the Private Client Group of Zurich Life in Long Grove, Illinois, and a partner at the Chicago law firm of Schiff Hardin & Waite.
Tom is a nationally known speaker on estate planning, tax, and insurance issues, and has written numerous articles and continuing legal education materials on estate planning topics. He serves on the faculty of the American Bankers Association National Trust and National Graduate Trust Schools, and has served on the adjunct faculty of the Cannon Financial Institute Schools. Tom has been an adjunct professor at Loyola University Chicago School of Law and has taught estate planning classes at Northwestern University Law School. Tom also has served on the editorial board of Trusts & Estates magazine. He retired from the United States Naval Reserve in 2003, after 21 years of service.
Tom received his bachelor of science degree in environmental engineering from Northwestern University, and his juris doctor, magna cum laude, from Loyola University Chicago School of Law, where he served as editor-in-chief of the Loyola Law Journal.
Senior Vice President, Private Client Group, PIMCO
Session Title: 2019 Economic Forecast
Summary: PIMCO’s economic outlook focuses on utilizing our cyclical economic forum on a quarterly basis to define our 3-12 month outlook and our annual secular forum to define our 3-5 year outlook. We combine our top-down macro outlook with bottom-up expertise from our sector specialists to come up with the investment implications.
- Recap of current macro environment
- Discuss key trends defining markets and economies
- Investment implications of the secular and cyclical outlook across asset classes
Level of Complexity: Overview
Continuing Education: 1.0 hours CFP CE and 1.0 hours CPA CPE
Bio: Mr. Curtiss is a senior vice president and account manager in the Newport Beach office and is a member of the private client group within PIMCO’s global wealth management team. He is responsible for PIMCO’s coverage of strategic relationships with certain investment advisors and trust banks on the West Coast. Mr. Curtiss joined PIMCO in 2008 and previously worked within the investment due diligence group, serving as the liaison between financial intermediaries and PIMCO’s portfolio management team. He has nine years of investment experience and holds an MBA from the Marshall School of Business at the University of Southern California and a bachelor’s degree in finance from the University of New Hampshire.
Joy Berus, Esq.
|Founder, Plan Art, LLC||Berus Law Group|
Session Title: Tax and Financial Implications Relating to Art and Other Collectibles
Summary: In this program, we will cover the tax and financial implications related to art and other collectibles, including:
- The New Post-2006 IRS Appraisal Requirements for Art & Collectibles
- Estate Tax Reporting Requirement Surprises
- Estate Planning: To Schedule or Not to Schedule the Art/Collectibles
- The Art of Donating Art: Steps to How to Avoid Donors’ Loss of Their FMVTax Deduction
- Ivory and Other Protected Species, Groups, Cultures: How Current Federal & State Laws Impact Value
- The Rauschenberg Case (The Difference between value during life and at death in the estate)
- Lifetime Planning: Is Your Client a Collector, Investor, or Dealer, and Why it Matters
- Estate Tax Discounts & Stories & Updates
- Learn new art and collectible appraiser and appraisal requirements
- Learn estate reporting requirements related to art and collectibles, and the latest on discounts and estate planning for the client’s tangible wealth
- Learn the steps required to insure a donor’s FMV tax deduction when donating art or collectibles
- Learn lifetime tax planning tools for the sale, consignment, purchase or donation of art and collectibles
Level of Complexity: Intermediate
Continuing Education: 1.0 hours CFP CE, 1.0 hours CPA CPE, 1.0 hours MCLE (Pending)
Bio: Robin Kalota is the founder and principal of Plan Art LLC. Ms. Kalota has more than 25 years of experience in providing diversified wealth management services for high net worth individuals and families, helping clients realize their investment, estate planning and philanthropic goals. Before founding Plan Art LLC, Ms. Kalota spent 19 years as a Senior Wealth Manager for the Bank of New York Mellon, where she customized wealth management plans through collaboration with tax, legal and planning advisors.
Through Plan Art, Ms. Kalota helps families determine planning options for their art collections. This includes collection analysis, procuring the appropriate appraisals and valuation of the collection, identifying transfer options such as donation, selling or gifting art, and evaluating how, when and to whom the collection will be transferred.
Through Plan Art, Ms. Kalota brings together a team of experts to address the tax, legal and insurance implications of the art transfer process, and to provide oversight over the execution of a well- conceived plan.
Bio: Joy Berus has been a practicing art law attorney for over twenty-five years. She is an author and contributor in such forums as Forbes, CBS Marketwatch, Investor’s Business Daily, the Wall Street Journal, the CCH Journal of Practical Estate Planning and the CCH Journal of Retirement Planning. Ms. Berus has also co-lectured with the IRS Chief of Art Appraisal Services Karen Carolan at various IRS & American Society of Appraisers Symposiums on IRS Personal Property Tax and Valuation Issues. Her art law practice includes assisting clients with acquisitions, sales, consignments, loans, valuations, charitable donations, charitable trusts and estate planning provisions regarding art, antiques, collectibles, copyright matters, license agreements, historical property fixtures and historical property. She is a member of California Lawyers for the Arts; Professional Advisors to the International Art Market (PAIAM);the American Association of Museums; the Western Museum Association; ArtTable, and she is an affiliate member of both the American Society of Appraisers and the Appraisers Association of America.