2019 Orange County Tax and Financial Forum

Wednesday
Oct
23
2019

8:00 am - 5:00 pm
Location: The Pacific Club, Newport Beach
4110 MacArthur Blvd
Newport Beach, CA 92660


 

 

     

Don’t Miss This Event!

You are invited to the second 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. The 2018 Forum sold out, so reserve your spot today!

Cost: FPA Members $50, Non-Members $70
Lunch, Wine Reception, Continuing Education Credits, and Parking are included.

We anticipate offering 5.0 hours CFP® CE and 5.0 hours CPA CPE.

RSVP: By Friday, October 18, 2019

Agenda

8:00 am Registration and Networking
8:45 am
Welcome and Introductory Remarks
9:00 am
Al W. King, JD, LL.M, TEP, CEO, South Dakota Trust Company

The New Tsunami – Charitable Giving with Non-Charitable Trusts: How the Wealthy are Using Modern Trust Structures to Provide Social and Fiscal Responsibility

10:10 am
Networking
10:30 am Joseph A. Field, JD, TEP, Senior Counsel, Pillsbury Winthrop Shaw Pittman LLP

So You Want to Provide Tax and Financial Planning for Foreign Nationals Moving to Orange County….Applicable Strategies, Communication They Can Respond To, and Taxes – As Well As Other Pitfalls

11:40 am Presentation of the Lauren Dunton Award
12:05 pm Networking
12:15 pm R. Hugh Magill, Executive Vice President, Chief Fiduciary Officer, Northern Trust Company

It’s All in the Family… What’s a Family? Estate Planning and Trust Management for a Brave New World

(Lunch – Thank You to Charles Fish Investments, Inc. )

1:15 pm Larry O’Toole, CEO, Corporate Director, Keynote Speaker, Founder, Yosemite Associates, LLC

Delivering New Value to Your Corporate Clients

2:15 pm Networking and Dessert
 2:45 pm Dr. Kerry Burnight, Chief Gerontologist at GrandPad, Founder of Ageless Alliance: United Against Elder Abuse, Former Director of Elder Abuse Forensic Center, Past Professor of Geriatric Medicine and Gerontology at the University of California, Irvine School of Medicine

Care Options for Loved Ones: Advising Clients about Aging Family Members

  3:45 pm  Concluding Remarks and Raffle Drawing
  4:00 pm  Wine Reception – Thank You to Lincoln Financial Group

 

Speakers


Al W. King III, J.D., LL.M., AEP (Distinguished)

TEP Co-Chairman and Co-Chief Executive Officer, South Dakota Trust Company, LLC



Session Title:
The New Tsunami- Charitable Giving with Non-Charitable Trusts: How the Wealthy are Using Modern Trust Structures to Provide Social and Fiscal Responsibility
Summary:

Many wealthy clients’ main concern is to mentor their families to be fiscally and socially responsible members of society. Successful philanthropy can reinforce family values and strengthen a family legacy. This presentation will discuss the trust structures families are establishing to accomplish these goals in perpetuity with governance. Some of the unique modern trust structures that will be discussed are Private Family Trust Companies, Trust Protector Companies and Family Bank Dynasty Trusts. Self-settled trusts, cryogenics trusts, pet trusts, etc., will also be discussed as well as how all these non-charitable structures are being powerfully utilized for charitable giving to supplement a family’s charitable trusts and private foundations. This is a powerful tsunami that will take charitable giving to a new level.


Learning Objectives:
  • Summary of the most popular desires of a wealthy person’s trust planning which generally include promoting family values by encouraging social and fiscal responsibility
  • Key modern trust administration structures available (i.e., Directed Trusts, Family Bank Dynasty Trusts, Special Purpose Entities/Trust Protector Companies, Private Family Trust Companies, Purpose Trusts, etc.) to maximize a client’s flexibility, control, asset protection, tax savings and privacy
  • How to best structure an Incentive Trust for maximum effectiveness in preserving family values, including sample social and fiscal incentive provisions

Level of Complexity: Advanced

Continuing Education: 1.0 Hours CFP CE, 1.0 Hours CPA CPE

Bio:

Al W. King III is the Co-Founder, Co-Chairman and Co-Chief Executive Officer of South Dakota Trust Company, LLC (SDTC) and based in the New York City office. SDTC is a national trust boutique for the wealthy headquartered out of Sioux Falls, South Dakota, serving clients nationally and internationally.

Mr. King was previously Managing Director and National Director of Estate Planning for Citigroup. Mr. King was also the Co-Founder and Vice Chairman of Citicorp Trust South Dakota. Mr. King also previously served as Director of Financial and Estate Planning for Coopers and Lybrand in Stamford, Connecticut.

Mr. King is the Co-Vice Chairman of the Editorial Board of Trusts & Estates Magazine. He has been a member of the Editorial Board for 20 years. Mr. King has been inducted into the National Association of Estate Planners & Councils (NAEPC) Estate Planning Hall of Fame as an Accredited Estate Planner (AEP), Distinguished. In addition, Mr. King currently serves on the Board of Directors for NAEPC and is the Chairman of the NAEPC Foundation Advisory Board.

Mr. King received a Bachelor of Arts cum laude from Holy Cross College, a Juris Doctor from Syracuse University Law School and an LL.M. in Tax Law from Boston University School of Law.


Joseph A. Field, JD, TEP

Senior Counsel, Pillsbury Winthrop Shaw Pittman LLP



Session Title:
So You Want to Provide Tax and Financial Planning for Foreign Nationals Moving to Orange County....Applicable Strategies, Communication They Can Respond To, and Taxes - As Well As Other Pitfalls
Summary:
  • An introduction to Civil Law and Sharia Law, including forced heirship and community property (multiple wives)
  • Tax evasion and avoidance. Exchange controls
  • Use of trusts and foundations
  • The twins: Foreign Account Tax Compliance Act (FATCA) and the Common Reporting Standard (CRS)
  • Criminalization of privacy
  • Why the US is a tax haven and why this may be a problem

Learning Objectives:
  • An introduction to other legal systems
  • Challenges faced by foreigners coming to Orange County
  • The new challenges passed by international bodies

Level of Complexity: Advanced

Continuing Education: 1.0 Hours CFP CE, 1.0 Hours CPA CPE

Bio:

Joe Field represents international families on structuring their estate planning as well as financial institutions on a variety of financial services, particularly with respect to life insurance. Joe’s international work includes families of substantial wealth in the U.S., Europe, the Middle East and Asia, involving all aspects of estate planning needs. His work with financial institutions encompasses a diverse range of services including the establishment of international trust companies and other financial services related to his estate planning practice.

Among numerous honors, Field received the Founders’ award for outstanding achievement from the Society of Trust and Estate Practitioners. Additionally, Citywealth named him a Leading Lawyer and included him in the publication’s Top 100 in the Wealth Profession list. Legal Week also ranked him as a Top Private Client Lawyer.

Field is admitted to practice in New York, California and Washington, DC. He is a registered foreign lawyer in the UK and Hong Kong. He earned his undergraduate degree from Princeton and his law degree at Columbia University.


R. Hugh Magill

Executive Vice President, Chief Fiduciary Officer, Northern Trust Company



Session Title:
It’s All in the Family… What’s a Family? Estate Planning and Trust Management for a Brave New World
Summary:

In this presentation, we will take a deep dive into estate planning and trust management for today’s families. We’ll survey the predominant traits of the generations represented in today’s estate planning process (the Greatest, Boomer, Gen X and Millennial generations). We will examine current marriage and family structures in society and explore how they apply to estate planning and wealth allocation and the modifications of trust design. We will look at issues associated with increased longevity. Finally, we will talk about ways in which attorneys and fiduciaries can assist families in building family collaboration and decision making.


Learning Objectives:
  • Survey of the predominant traits of the generations represented in today’s estate planning process (the Greatest, Boomer, Gen X and Millennial generations)
  • Examination of changes in marriage and family structures, changes in family governance, the increasing cultural diversity of today’s families, artificial reproductive practices, and assumptions about life expectancy and mortality
  • Exploration of approaches to estate planning and wealth allocation, modifications of trust design, and issues in the allocation of fiduciary responsibility which are better aligned with the needs of modern families
  • Exploration of issues associated with increased longevity
  • Examination of the ways in which attorneys and fiduciaries can assist families in building more effective protocols for family collaboration and decision making

Level of Complexity: Advanced

Continuing Education: 1.0 Hours CFP CE, 1.0 Hours CPA CPE

Bio:

Hugh Magill is Vice Chairman of The Northern Trust Company. Prior to joining Northern Trust in September, 1989, Hugh practiced law privately in Chicago, and worked in the Trust Department at The First National Bank of Chicago where he served as Assistant to the Chief Investment Officer. Hugh is licensed to practice law in Illinois and Minnesota and admitted to practice before the United States Tax Court. He is a Fellow of the American College of Trust and Estate Counsel and a faculty member of the American Bankers Association National Trust School. He has lectured for the American College of Trust and Estate Counsel, the Heckerling Institute, the Notre Dame Institute, the Kasner Institute, the Northwestern University Center for Family Enterprise, regional bar associations and estate planning councils, and Northern Trust on estate and charitable planning, trust management, family governance, and fiduciary risk management. He is a member of the Chicago, Illinois and American Bar Associations, the Chicago Estate Planning Council, and the Christian Legal Society. He is a trustee of the Covenant Board of Pensions and Benefits, and he serves on the Boards of the Block Museum of Art, The Chicago Sunday Evening Club and several foundations. He serves on the Editorial Board of Trusts & Estates magazine, has authored articles for Trusts & Estates, Trust & Investments, and Wealth magazines, ACTEC Law Journal and in 2017 was inducted into the NAEPC Estate Planning Hall of Fame where he holds the designation of Accredited Estate Planner ® (Distinguished).


Larry O’Toole

CEO, Corporate Director, Founder, Yosemite Associates, LLC



Session Title:
Delivering New Value to Your Corporate Clients
Summary:

Are you providing strategic or tactical value for your corporate client? Strategic value is much broader in nature and more encompassing than tactical value. We will be discussing: Financial Capitalization along with strategic capitalization, trends in income and SALT taxation, economic trends, as well as how these trends affect corporate valuation. We’ll also cover how technological trends may affect corporate client businesses and tips to help facilitate their preparations.

 


Learning Objectives:
  • Advising corporate clients regarding the reduction of or deferral of income and SALT taxation
  • How economic trends are important to predict for corporate clients
  • The importance of and effects of proper corporate capitalization

Level of Complexity: Intermediate

Continuing Education: 1.0 Hours CFP CE, 1.0 Hours CPA CPE

Bio:

Larry O’Toole has served over 20 years as CEO of manufacturing and service companies in industries ranging from Aerospace & Defense, Safety & Security and Architectural Building Systems. His experience spans large public corporations to smaller and mid-market privately held businesses. In his most recent CEO role, Larry led a privately held manufacturing and engineering company through the process of preparing for exit, successfully delivering several hundred million dollars, exceeding the owner’s expectations.

Larry is an active Corporate Director & Advisor for a variety of profit and not-for-profit organizations. His current Director and Advisory roles have him working with business owners and executives in Aerospace & Defense, Bio-pharma, and Facility Security. In the non-profit sector, Larry’s experience includes the Volunteer Center of Orange County (now OneOC) and currently the Marc Sanders Foundation, NY, NY.

A frequent guest speaker to industry organizations and universities, Larry has created the Bank Your Moment™ series designed for business owners and executives looking to optimize their business performance. His writing and speaking engagements are filled with insights relating to Game-Changing Business Planning, Trends-Are You Prepared and Optimizing Your Business for Successful Exit.

Larry earned his B.S. degree from Central Connecticut State University, and his M.B.A. from University of Hartford.

In 2018, Larry founded an organization with the sole passion of leveraging his personal CEO experience that now enables business owners and executive teams on their journey of building and executing strategies that will one day optimize shareholder value.


Dr. Kerry Burnight

Chief Gerontologist at GrandPad, Founder of Ageless Alliance: United Against Elder Abuse, Former Director of Elder Abuse Forensic Center, Past Professor of Geriatric Medicine and Gerontology at the University of California, Irvine School of Medicine



Session Title:
Care Options for Loved Ones: Advising Clients about Aging Family Members
Summary:

Because of the medical, legal, financial and ethical complexity of advanced longevity, your clients look to you for guidance.  You need cutting edge knowledge on today’s care options – both traditional options and tech enabled options – to help them take care of loved ones as they age and navigate their own retirement years. Renowned Gerontologist, Dr. Kerry Burnight, will distill the myriad of care options facing your clients down into a practical guide that emphasizes dignity, autonomy, safety and financial planning.


Learning Objectives:
  • We will talk about the medical, legal, financial and ethical complexity of advanced longevity
  • Financial Planners attending this forum will learn what they need to know about Gerontology in order to properly serve older adults and their families
  • We will discuss care options available to older adults and their families
  • We will explore the warning signs of financial elder abuse so financial advisors and other planners can help prevent such abuse
  • We will also describe the mandatory reporting requirements imposed by state and federal law and regulations that financial advisors and other plans

Level of Complexity: Overview

Continuing Education: 1.0 Hours CFP CE, 1.0 Hours CPA CPE

Bio:

Dr. Kerry Burnight is one of the nation’s leading gerontologists. She served as a professor in Geriatric Medicine at UCI for 19 years. She is the founder of the nation’s first Elder Abuse Forensic Center and the non-profit, Ageless Alliance: United Against Elder Abuse. She is the Chief Gerontologist at GrandPad, an award willing tech firm improving the lives of millions of seniors by reconnecting them with their family friends and caregivers.

Dr. Burnight has spoken at The White House and continues to call for solutions to prevent elder abuse. She joined GrandPad because of the firm’s ability to prevent one of the most significant risk factors for elders: social isolation. Dr. Kerry Burnight has appeared on television to speak as an expert on shows such as The Dr. Phil Show, CBS news, Money Matters, and The Doctors.

www.drkerryburnight.com

Dr. Kerry Burnight – Facebook

Dr. Kerry Burnight – LinkedIn

 



Thank You to Our Sponsors













FPAOC follows the CE guidelines specified by the Certified Financial Planner Board of Standards, Inc., and the California Board of Accountancy. Certified Financial Planner Board of Standards Inc. owns the certification marks CFP®, CERTIFIED FINANCIAL PLANNER™, CFP® (with plaque design) and CFP® (with flame design) in the U.S., which it awards to individuals who successfully complete CFP Board’s initial and ongoing certification requirements. Dorsey & Whitney LLP is an Accredited CLE Provider in California and New York, and this program will qualify. Dorsey will apply for CLE credit in Colorado, Iowa, Minnesota, North Dakota, Oregon, Texas, Utah, Washington and Wisconsin. For any other state, Dorsey will not be applying for CLE credit.