Federal Tax Impacts of the CARES Act and Beneficiary Babel: Differences in Beneficiary Designation Terminology, Options, Defaults & Strategies Among Major Custodians
This seminar will be a 2 hour Zoom meeting. The link will be sent the day before the presentation.
Date: November 19, 2020
Time: 12:30-2:30 pm
The first hour by Isabel Santner, BKD will cover the Federal tax impacts of the CARES Act and the implications for businesses and individuals. In addition she will cover the potential impact of the November election of Federal tax.
The second hour is entitled Beneficiary Babel: Differences in Beneficiary Designation Terminology, Options, Defaults and Strategies Among Major Custodians. John Hurlow, Joseph Manley and Derek Grimmer from Hurlow Wealth Management Group, Inc. will present.
Attendees of this hour presentation will learn the intricacies of the major financial institutions’ beneficiary designations, including default elections, and a review of the difference between how assets pass per stripes vs per capita vs under neither paradigm. Most of the first half of this presentation will focus on Schwab’s beneficiary form, as this is the most complex, but we will also discuss other major financial institutions. Finally, we will share processes for client service teams and advisors to quickly see if beneficiary forms need to be reviewed or updated with the client.
2 hours of CE are pending.
