Estate Planning Seminar – Timed Agenda – 3 Hour Program

Estate Planning for Chronic Illness Seminar

Timed Agenda

3 Hour Program – 165 Lecture Minutes

By: Martin M. Shenkman, CPA, MBA, JD, PFS

Min. Topics

0-5 – Introduction to estate planning in the current environment.

5-15 – Overview of Estate planning for clients living with chronic illness or who have loved ones living with chronic illness.

15-25 – Discussion of chronic illness. Illustration of variability of chronic illness using Multiple Sclerosis and Parkinson’s disease as examples, and how these differences have to be recognized in the planning process

25-30 – Meeting with clients with chronic illness. Practice modifications.

30-55 – Income tax considerations and planning. Modifications to home as a medical deduction. Taxation of litigation settlements. IRC Sec. 62(a)(20) and legal fees. Impairment related business expenses. Other tax planning considerations.

55-75 – Investment planning for those living with chronic illness. Risk tolerance, time horizon, different perspectives on charitable gift annuities, impact on drafting powers of attorney and trusts. Special budget and financial planning considerations and impact on planning.

75-80 – Break

80-90 – General financial steps to consider and how they coordinate with legal planning and drafting. Consolidation of accounts, automatic bill paying, duplicate monthly statements, use of a independent financial monitor.

90-110 – Insurance considerations. Viatical settlements, long term care coverage. Disability policy issues and considerations, claims process, tax and accounting concepts.
110-125 – Competency considerations. HIPAA considerations.

125-135 – Break

135-155 – Core estate planning documentation and how it should be modified to address those living with chronic illness. Powers of attorney. Living wills. Health care proxies. Wills.

155 – 175 Trust drafting techniques to safeguard a client living with chronic illness. Use of mandatory independent social worker evaluations. Preserving independence while maintaining a safety net with a small balanced checking account. When and how to name the client as a trustee, co-trustee or not at all. Trust drafting mechanisms to deal with the unique issues presented by different chronic illnesses.

175 – 180 Conclusion and summary.