Roy Adams Coping with Change
Estate planners await “big bang” in 2010 from tax and retirement law changes
Contact: Jennifer Seely, Director of Marketing-Ibis Financial Group
(321) 304 – 4015, JSeely@ibisfingroup.com
September 1, 2009 – People who are nearing or planning for retirement will be hearing from their advisors this fall about changes in federal law that could have a huge impact on their financial plans.
From Roth IRA conversions to the estate tax, there is a lot on the horizon to consider for individuals who want to have enough money to retire on, ensure the continuation of a family business, or leave to a charity or their heirs.
“What happens in the next few months could cause some of the biggest changes we’ve seen in the trusts and estates field,” said Roy Adams, professor emeritus of estate planning and taxation at Northwestern University School of Law, where he taught both subjects for 25 years.
Adams is going to explain the pending changes and offer suggestions for dealing with them in a presentation at Ibis Financial Group in Orlando September 14 from 9:30 AM to 5:00 PM EST. Securian Trust Company and The Salvation Army are co-sponsoring the live event in Minneapolis for estate planning professionals, entitled “Coping with Change – Like It or Not.” This is Adams’ 17th annual tax and estate-planning presentation. It is being held in Minneapolis and broadcast live to Ibis Financial Group and other firms around the country.
At the heart of the pending changes is the estate tax. In 2010 it is scheduled to be repealed for one year. In 2011, it will revert to its 2000 version. Though many believe that is unlikely to happen, there will be changes to estate and gift tax rules and Americans need to prepare for them. The changes could have an impact on family-owned businesses and heirs. The repercussions could affect other aspects of financial planning including charitable contributions and gift taxes.
To add even more drama, the income limitation on converting regular IRAs, 401(k) accounts, and 403(b) accounts to Roth IRAs will be removed in 2010, opening it up to wealthy individuals. The expectation is that many will want to capitalize on this opportunity.
“Many of our clients could be affected by these changes,” said Daniel C. Zagata, CLU, ChFC, CFP of Ibis Financial Group. “We want to be sure that the attorneys, tax consultants, and trust officers who also work with them have the best information available to prepare for whatever changes are coming.”
Adams’ co-presenter, Christopher Hoyt, is a professor at the University of Missouri - Kansas City School of Law, where he teaches courses in federal income taxation and business operations. Hoyt also is the co-chairman of the American Bar Association committee on charitable organizations.
“Coping with Change – Like It or Not,” is free for professionals involved in the estate planning process. Please register by September 8 by calling Jennifer Seely with Ibis Financial Group at (321) 304-4015 or sending a message to jseely@ibisfingroup.com Seating is limited. Lunch will be provided and participants will receive a full day’s worth of CE credits for attending this event.
Ibis Financial Group is a comprehensive financial services firm that is headquartered in Boca Raton located at 7284 W. Palmetto Park Road, Suite 106, Boca Raton, FL 33433 and has two additional office locations in Palm Beach Gardens and Orlando. Ibis Financial Group currently has over 35 financial advisors and support staff. For additional information, please visit www.ibisfingroup.com. Ibis Financial Group is part of the Securian Financial Network. The Securian Financial Network is a nationwide network of financial service firms and financial specialists. It is the marketing name for the sales and distribution arm of Securian Financial Group, Inc., its subsidiaries and affiliates, including Minnesota Life Insurance Company.
Securian Financial Group helps provide financial security for individuals and businesses in the form of insurance, retirement products and services, and investments. Affiliates include Securian Trust Company, Minnesota Life Insurance Co., and Advantus Capital Management. Securian has more than $680 billion of life insurance in force, $27 billion in assets under management as of July 31, 2009 and a nationwide work force of 3,600 employees. Securian serves more than 9,000,000 individuals in the U.S.
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