How do the new fiduciary rules impact your life insurance recommendations? Ethical Considerations of NYS DFS Reg 187, FINRA Rule IM2210, New CFP Practice Standards and the UPIA Relating to “Decision Support Material” used by life insurance producers and attorneys, CPAs, and RIAs in the life insurance decision process. What does the “clients best interest rule” mean for life insurance product recommendations? Why you need to make a careful, skilled, prudent, and diligent evaluation of costs, performance, and risks relative to benefits. What is the role of life insurance in retirement planning after the SECURE Act? Which life insurance strategies make sense in the current low interest rate environment? What is the impact of the new regulation on reportable policy sales and transfer for value? What is the best use of the $11.58 million gift tax exemption in life insurance planning in 2020 and should we use it now in anticipation of possible reductions? What is the life insurance opportunity for closely held C corporations in the current tax environment? What might the Democratic proposals for estate tax changes mean to insurance planning? How a $20,000/donor annual exclusion would change life insurance planning.
Steven S. Zeiger, CEBS, TEP ^
Steven Zeiger is a Managing Director at KB Financial where he works with clients and their advisory team to generate superior outcomes throughout their lives. KB’s team of professionals coordinates financial, tax, estate planning, insurance solutions, wealth management and mergers and acquisition planning and to support the quest for financial success for our clients. KB offers an integrated family office platform.
He is an expert in applying Prudent Investor guidelines to life insurance product selection and portfolio management according to established and proven asset management doctrine. He is guided by the Uniform Prudent Investor Act, FINRA Rule IM 2210, NY DFS Regulation 187 “Clients Best Interest” rule and lessons learned from the first adjudicated fiduciary lawsuit regarding Trust Owned Life Insurance AKA Cochran v. Key Bank.
Steven is uniquely qualified to help estate planning professionals better understand the ethical implications and new business opportunities created by the “new fiduciary era for life insurance”. He helps CPAs, wealth managers, and attorneys guide their clients’ insurance decisions based on a patented prudent process.
Steven, his wife, and sons live in Chappaqua, NY. Steven plays on a USTA tennis team and enjoys travel, skiing, and ping pong with his family. He prides himself on giving back to the community by combining his love of athletic challenges with his passion for helping others, as such, he on Board of the Kidney Cancer Coalition and participates in the MSK Cycle for Survival. Steven is currently training for next year’s 192-mile Pan Mass Challenge, he will be riding with his sister on her 13th annual ride.
Lee Slavutin, MD, CLU, AEP ^
Lee Slavutin has been in the life insurance business since 1983. Born in Australia, Lee practiced as a surgical pathologist until he came to New York as the chief resident in pathology at Lenox Hill Hospital where he worked as a staff pathologist until changing his career. Lee’s unique medical qualifications are an important part of his specialty, which is serving high net worth individuals seeking substantial life insurance policies. Lee is a well-known public speaker and educator for the legal and accounting professions including the American Law Institute/American Bar Association and the American Institute of Certified Public Accountants. He has written and published over 150 articles on the complex legal and technical aspects of securing life insurance for estate tax planning. His text book published by Thomson Reuters, A Guide to Life Insurance Strategies, is in its 11th edition. Lee has served as a director of the Association of Advanced Life Underwriters and the Estate Planning Council of New York. He is on the editorial advisory board of Tax Hotline and is a member of the CCH Estate and Financial Planning advisory board. Lee testified before the New York State Senate in 1990 and worked with the United States General Accounting Office on the effectiveness of the insurance company rating firms.
“Our greatest source of pride in business is supporting our clients to make decisions after they understand all the facts. The client’s best interest comes first; there is never a question about that for us. We pride ourselves in providing technical expertise for those who sometimes need to make irrevocable estate planning decisions.”
Lee lives in New York and East Hampton with his wife Dee. They have two grown children. He enjoys learning the Torah and Tanya (the spiritual roadmap of life based on Jewish mysticism).
Martin M. Shenkman, Esq., InterActive Legal Advisor ^
Martin M. Shenkman is an attorney in private practice in Fort Lee, NJ, and New York City. His practice concentrates on estate and tax planning, planning for closely held business, and estate administration. Mr. Shenkman is an author of over 40 books and more than 800 articles. He is an editorial board member of Trusts & Estates Magazine and the Matrimonial Strategist, and an advisor for InterActive Legal. He is the recipient of many awards including being a 2013 recipient of the prestigious Accredited Estate Planners (Distinguished) award from the National Association of Estate Planning Counsels. Mr. Shenkman was named Financial Planning Magazine 2012 Pro-Bono Financial Planner of the Year for his efforts on behalf of those living with chronic illness and disability. Investment Adviser Magazine featured him on the cover of its April 2013 issue naming as the lead of their “all-star lineup of tax experts.”
Event sponsors are not approved Continuing Education Sponsors. However, several states and regulatory agencies for a variety of professionals that participate on our teleconferences may still receive continuing education credit for their participation. If a participant wishes to receive CE credit for their participation in these teleconferences, they must apply to receive credit on their own and through their individual states and regulatory authorities. It is the responsibility of the participant to file for CE credit and is not guaranteed by InterActive Legal, Peak Trust Company, or Shenkman Law.
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