Financial Assets

This year’s Institute features a series of programs on planning with Financial Assets. These programs explore impact investing, combining taxable gifts and testamentary CLATs, and advising clients on life insurance products.

Wednesday, January 11, 2017 – Special Session I-D (2:00 – 3:30 p.m.)
Extraordinary, Efficient, Elegant, Evolutionary: The Annual Taxable Gifts Approach and Testamentary CLAT Remainder
Richard S. Franklin, Lester B. Law
This presentation proposes that wealth be transferred to family during lifetime using the annual taxable gifts approach to entirely eliminate estate taxes. The panel will also review the merits of combining this approach with a zeroed- out testamentary CLAT to both eliminate estate taxes and endow the family’s foundation. Through a quantitative analysis, the astonishing results will be revealed.

Wednesday, January 11, 2017 – Special Session II-F (3:50 – 5:20 p.m.)
Life Insurance Policy Selection and Design – How to Use All We Know to Plan for All We Don’t
Lawrence Brody, Mary Ann Mancini, Charles L. Ratner
This panel discussion will review the major characteristics of a number of policy types used by most clients as a part of their insurance planning, including traditional whole life, universal life, no lapse guarantee universal life, equity indexed universal life, variable universal life, and private placement variable universal life. In addition to describing the characteristics of each type of policy, the panel will discuss how the client’s insurance needs effect the selection of one more policy types to meet those needs. This will be a practical “how to” session on advising clients about the appropriate type of insurance policy to consider.

Thursday, January 12, 2017 – (11:45 a.m. – 12:35 p.m.)
Feel Good Doing Good: Impact Investing When Settlors and Beneficiaries Want to Do More Than Make Money
Susan N. Gary
Investing to promote philanthropic goals occurs across a spectrum of investment strategies. The terminology and concepts can be baffling: Mission- Related Investments (MRIs), Program-Related Investments (PRIs), Socially Responsible Investing (SRI), Sustainable Investing (SI), and Environmental, Social and Governance (ESG). This presentation will cut through the confusion, address the fiduciary duties of trustees and the evolution of the prudent investor standard, and provide an overview of considerations for settlors and beneficiaries who are interested in investing for social good.

Thursday, January 12, 2017 – Special Session IV-C (3:50 – 5:20 p.m.)
It’s Hard to Be Good: The Fiduciary Issues, Strategies, and Drafting Considerations Related to Impact Investing
Benetta Park Jenson, Susan N. Gary, M. Ruth M. Madrigal, John Tyler
Impact investing is a hot topic in the investment world. More and more clients are interested in investing in a way to make the world a better place. This panel will take a deeper dive into the fiduciary issues that arise when settlors, beneficiaries, endowments and foundations want to invest for social good. The panel will also discuss strategies and drafting to accomplish the settlor’s goals and beneficiaries’ wishes, including alternatives to traditional trust structures, such as the highly publicized Chan Zuckerberg Initiative LLC.