Opening Dinner Meeting: ASSET BACKED INSURANCE LENDING (ABIL) “ABIL: An Overlooked Wealth and Estate Planning Tool and the Importance of a Successful Loan Exit Strategy
ASSET BACKED INSURANCE LENDING (ABIL)
“ABIL: An Overlooked Wealth and Estate Planning Tool and
the Importance of a Successful Loan Exit Strategy"
Program Description: A detailed analysis on why clients should consider financing their insurance program, the attributes of an excellent program, which insurance products work best, preferable bank lending terms and which clients are best qualified. A comparison of past and present programs will be provided.
Life insurance is universally accepted as a tool to facilitate the payment of estate taxes, pass family wealth and businesses to younger generations, fund business buy-sell agreements, fund special needs and family trusts and accomplish philanthropic purposes. Appropriate clients include those motivated to secure large life insurance policies, with a net worth of at least $10 - 15 million, a minimal level of liquidity, under age 70 and in generally good health. In some instances, older or sicker clients can guarantee policy loans against policies benefiting younger generations, while creating a large estate tax deduction for themselves.
Many previous programs have dissolved over the years because their structures did not work properly. Banks and funders withdrew their funding because these programs did not have a long term rate of success. We will examine past areas of concern and will discuss the necessary requirements for a program to succeed, including loan exit strategies, rolled up interest, policy performance requirements and necessary lending terms.
Bruce N. Haydu has been a Certified Financial Planner since 1985. Starting his career in 1981, Bruce has lectured widely on financial and estate planning topics and is a well-known financial educator in the New York metropolitan area.
Bruce is a founder and managing partner of two companies. Financial Design & Management, Inc., is a company dedicated to financial and estate planning since 1988. The CFS Group is a national life insurance general agency specializing in a differentiated “best-in-class” premium finance program for individuals with net worth in excess of $10 million. CFS uses its special expertise in advanced life insurance strategies to optimize the client’s estate planning and charitable giving capability. Bruce is recognized as a national expert in the field of lifetime premium financed life insurance (PF). Bruce is an educational board member of The Wealth Preservation Institute and has lectured at their annual Asset Protection Society Forum in Las Vegas. He recently participated in Institutional Investor’s annual Family Office Wealth Conference as subject matter expert in PF.
Born and raised at the “Jersey Shore”, Bruce is a graduate of Monmouth University and lives with his wife and children along the Monmouth County coast of New Jersey.
Frederick C. Veit is an Attorney and Certified Financial Planner. Following law school, Rick worked as a tax attorney for the accounting firm Deloitte and Touche, specializing in personal taxation, financial and estate planning for high net worth families and business owners. Rick also taught Business Law at a local college.
Rick is a member of many boards throughout the country, both in the charitable field and for several professional societies. Rick manages a small family foundation and has been involved with fund raising for that organization for 15 years. Rick has also written articles for several publications, newsletters and journals, having examined topics such as estate planning, taxation and charitable giving. Rick is a principal with The CFS Group.
With his background in business and estate planning, Rick focuses on advanced business succession planning and estate preservation techniques. Rick is a lecturer and seminar leader on estate planning and legal matters, having taught in over 50 cities nationwide. Rick’s expertise includes trust and estate planning for donors who wish to provide large gifts to charity, using advanced life insurance and gifting techniques.
RSVP: MUST BE MADE ON-LINE NO LATER THAN FRIDAY, September 26, 2014
- Based upon our interpretation of the New York State Board for Public Accountancy regulations, this event will qualify for one (1) CPE credit in Advisory Services. Our New York State CPE Sponsor license number is 000783.
- This program has been granted (1) CE credits for Certified Financial Planners. CE SPONSOR ID NUMBER: 6280.
DINNER ENTRÉE CHOICES:
Grilled Salmon, Pineapple Mango Salsa
Skirt Steak, Mojito sauce
COST: (Includes parking)
Members - no charge.
$ 75.00: Guest reservation (check mailed or paid by credit card)
$ 85.00: Guest fee at door (check or cash only)
RESERVATION POLICY: In order to be able to give the Crowne Plaza a more accurate count and avoid having the Council pay for meals for members who are not attending, it is respectfully requested that;
- all attendees register for all meetings no later than the RSVP date and,
- if necessary, cancel your attendance no later than 48 hours prior to the meeting if possible.
CREDIT CARD PAYMENTS ACCEPTED:
Guest fees reserved on line through the website may be paid by credit card.
Guest fee at the door must be paid by cash or check only.
CHECK PAYMENTS:Checks should be made payable to the Estate Planning Council of Westchester County, Inc. and mailed along with a copy of your registration receipt to:
Raymond J. Beninato, CLU®
c/o Raben Capital Growth Corp.
137 Montgomery Avenue, Scarsdale, NY 10583
PHOTOS: By attending a meeting of the Estate Planning Council of Westchester (hereinafter “EPC Westchester”), you hereby: (1) give consent for EPC Westchester to use your photograph or image in its print, online and video publications; (2) release EPC Westchester, its employees and any outside third parties from all liabilities or claims that you might assert in connection with the above-described uses; and (3) waive any right to inspect, approve or receive compensation for any materials or communications, including photographs, videotapes, website images or written materials, incorporating photos/images of you.