Unwinding Life Insurance Transactions and Keeping a Policy: Dealing With ILITs, Split Dollar and Buyout Agreements When the Business Owns the Policy
As we enter the holiday season, it’s a perfect time to think about those in need. EPCMOCO is holding a canned food drive at its December 5th to benefit Bethesda Cares, a local organization that feeds and helps the homeless with a goal of finding them permanent housing.
Per the Bethesda Care website:
“Bethesda Cares gratefully accept food donations of both perishable and nonperishable items. We can use baked goods and packaged snack foods at our Drop-In Center; we’ll incorporate non-perishable foods into meals at our meal daily programs. We always appreciate fresh fruit to ensure that clients receive well-balanced, nutritious meals. Because many homeless clients don’t have ready access to fresh water, we welcome bottled water, year-round. And finally, for our recently housed clients we welcome easy-to-make foods like: boxed pasta, canned soups, boxed macaroni & cheese, minute rice, canned tuna and canned Vienna sausages, packaged snacks like granola bars, instant oatmeal packets, etc. Please do not bring any partially-consumed items, and kindly check the expiration dates on anything you donate.”
We will have donation boxes at the meeting. Thank you in advance for helping us to make a difference in our community!
About the Program:
This presentation will provide insights into current and likely future planning opportunities with life insurance. We will discuss why insurance is an important asset in a client's overall portfolio/business/balance sheet. We will review how to properly analyze and implement (or refine) certain wealth transfer strategies that utilize (or already own) insurance. If the prior structure/transaction or trust is no longer working, what are the planning hurdles and steps that must be considered and implemented? We will conclude with a discussion about how the future in insurance solutions is not bleak, but rather exciting and challenging.
About the Speaker:
Todd Steinberg is the D.C. Trusts and Estates Practice Leader at Loeb & Loeb, LLP. He focuses his practice on helping high net worth individuals and families navigate complex and sophisticated estate and income tax planning matters. He assists clients with multi-generational wealth preservation and accumulation, as well as probate and trust administration, and charitable planned giving. Mr. Steinberg has substantial experience in complex, post-death estate and trust administration, as well as fiduciary litigation matters. He has represented clients in IRS estate and gift tax examinations, IRS appeals and related state and federal tax controversy matters.
Mr. Steinberg also implements business succession and transition planning for privately held companies, business owners and entrepreneurs, helping them reach financial goals for their companies and build and preserve their personal net worth. He has a particular depth of experience in planning with life insurance products and regularly provides counsel to allied professionals in the insurance industry.
Details:
- Buffet lunch is served at 12:00 noon and the program begins at 12:30 p.m.
- Guests are warmly welcome when accompanying a member host.
- A guest fee of $50 applies.
- Free parking.
The Council thanks our Signature Sponsors
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