ILITs - Do We Still Need Them?
Commonly asked questions by clients include whether or not ILITs created many years ago for estate tax liquidity are still needed today and if not, how do we terminate them? We’ll explore some considerations for producers trying to answer these questions for clients.
You will learn:
- Basic foundational elements of an ILIT including why they are traditionally created
- The many uses and function of ILITs beyond providing estate tax liquidity
- History of federal estate tax exemptions and future projections
- Considerations for keeping the ILIT
- Methods to remove life insurance from an ILIT or to terminate the ILIT
Victor Ngai, JD, CLU, ChFC, RICP is the Vice-President, Advanced Marketing at Security Mutual Life Insurance Company of New York (SML), where he trains and consults with life insurance agents, brokers, financial advisors and planners on advanced planning topics such as estate, business, executive benefits, asset protection and charitable planning. Victor has spent most of his professional career working with insurance producers and advisors on advanced planning cases.
Prior to SML, he was:
- Founder of an advanced markets consulting firm working with large general agencies;
- Head of the advanced sales department of a major Fortune 250 mutual life insurance carrier;
- Head of the client strategy and case management team at a leading global provider of manager-of-managers investment solutions and provider of technology solutions to bank trust departments, financial planners and RIAs;
- Head of a major Wall Street wire house’s high net worth planning department;
- An advanced sales attorney at one of the largest carriers in the country; and
- A practicing attorney in New York City and New Jersey advising high net worth individuals and closely held business owners in personal and business planning issues, including trusts and estate planning, business succession and executive benefits.
Victor has presented at numerous continuing education programs for CPAs and attorneys, and has also been frequently quoted and published in mainstream and industry publications.
1 CFP® credit, 1 CPE (accounting) credit, and 1 Professional Recertification (formerly PACE) credit have been approved.
$5.00 fee per credit.
You must participate in the live webinar in order to earn CE credits. For those requesting credits, a certificate of completion will be emailed to you about a week after the webinar, upon successful completion of the webinar. For CFP® credit, FSP will report your credit to the CFP Board for you after the webinar.
Registration Fee (includes live webinar, PowerPoint, and access to the archived program)
||FSP Premier Members
|Prof Recertification (PACE) Credit:
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Upon registration, you will receive instructions via e-mail on how to participate in the program. The e-mail will also include instructions for downloading the PowerPoint presentation.
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This program will be recorded and archived and the link to the recording will be emailed to all registrants about a week after the webinar.
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The recording will also be accessible by all FSP members in the Member Resources area of the Website within 24 hours of the webinar.
The recording will include both the audio portion and PowerPoint slides.