Resources on New Tax and Estate Planning Opportunities

Sample Client Letter: Planning Opportunities for POAs

Download and customize this sample client letter from Martin Shenkman, which identifies overlooked planning opportunities in a client’s power of attorney, including revising the POA to remove a gift provision, broadening the annual exclusion clause, giving your agent appropriate authority in the POA (particularly if you have created an irrevocable trust in recent years that includes swap powers to bring assets back into your estate to minimize capital gains costs) and more. 

Webcast: How CPAs Can Thrive in the New World of Estate Planning for Clients Under $10M Net Worth   (Originally aired October 21, 2014)

The American Taxpayer Relief Act of 2012 changed the estate planning paradigm. With the new $5 million inflation adjusted exemption amount, few clients care about the federal estate tax. With a modicum of planning, couples with less than $10 million in net worth are unlikely to ever face an estate tax. Still, there are a host of new planning opportunities to serve clients profitably and even to expand services to existing and new clients. In this webcast, Martin Shenkman addresses how this new estate planning environment is a golden practice development opportunity for practitioners, giving them the opportunity to step into the role of “trusted adviser” as never before. Access the seminar recording and presentation materials.

Presentation: New Planning Opportunities for Tax & Financial Planners  (Recorded July, 2014)

With 5 million baby boomers retiring a year, new complexity in the financial planning landscape due to recent legislation, a redefinition of estate planning given higher exemptions, and a multi-layered tax system affecting virtually all of your clients’ personal financial planning decisions, CPA financial planners have an unprecedented opportunity to demonstrate their value to clients by providing guidance, planning and tax expertise. Furthermore, the outlook for providing financial planning services is strong. Financial planning is forecasted to grow two times faster than the accounting industry through 2017 (IBIS World 2012). In this presentation, Sidney Kess and Martin Shenkman assist practitioners in understanding new planning opportunities in light of changes in the tax paradigm, client demographics, technology, and clients’ views of professional services. Access the seminar recording, presentation materials, and a related article.

Article: The CPA’s Role in Estate Planning After the American Taxpayer Relief Act  (Planner, May/June 2013)

The American Taxpayer Relief Act of 2012 has changed estate planning in a profound way. It’s certainly not business as usual, but CPA financial planners can make it better than usual with proactive and creative steps, outlined by Martin Shenkman in this article.

For more resources from the PFP Section on these topics, visit the Impact of Tax Reform on Planning Toolkit and Estate Planning Resources.

Martin Shenkman, CPA, MBA, PFS, AEP, JD specializes in estate and tax planning, closely-held business taxation, business transactions and estate administration.  He is a prolific author, having written over 30 books and 700 articles on these topics and is a regular source for media publications including the Wall Street Journal, Fortune, Money, The NY Times, among others.  Marty is active in numerous charitable organizations, sitting on many boards and planned giving committees and lectures regularly for these and other organizations.