Urgent Planning Considerations In Light Of A Biden Administration

Glen Wagstaff
11/17/20 4 PM EST
Program Id: 628034635
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Class Description: Urgent Planning Considerations In Light Of A Biden Administration

Transferring property out of a taxable estate now, under current exemption limits, is suddenly extremely important to saving clients from tax disaster. So is maximizing deductions, entity structuring, and income shifting.

In an era of expanded Presidential authority, certain tax hikes could be implemented by Executive Order. The objective of this class is to help financial advisors determine which client situations to focus on immediately, and which clients are at the greatest risk of large tax hikes in 2021 under a Biden Administration.

The class covers a wide range of urgent tax strategic planning considerations under the Biden Administration, including:

• income tax rate increases
• estate tax rate increases and reduction in unified exemption credit
• elimination of stepped up basis on appreciated assets
• capital gains tax increases
• reduction in charitable gifting limits
• enhanced employee benefit regulations
• expansion of the National Firearms Act
• adults with disabilities
• LTC caregiver support legislation

Glen Wagstaff, J.D., is the founder and managing partner of Inter Vivos, PLLC, one of the nation’s fastest growing estate planning firms with more than 100 attorneys across the United States.

This webinar is pending eligibility for one hour of CE credit towards the CIMA® and CPWA® certifications, and it is eligible for IRS EA CE, CFP® CE, PACE credit toward the CLU® and ChFC® designations, and live CPA CPE credit.


What Do Advisors Expect Will Happen With Taxes?   
This year-end tax planning season is like no other. Yet, to my great amazement, there is almost no coverage of the high stakes for clients of wealth managers.     

It’s an enormous mess for clients of advisors and tens of thousands dollars –hundreds of thousands, in many instances — are on the line. It is apparently too complicated for financial media to cover, and that includes practitioner trade publications.


I did a search on Google for “year and tax planning” yesterday and the results were articles with the usual year-end planning tips on bunching deductions and income. The Journal of Accountancy published something that was okay but it covered none of the hugely important defensive measures clients must take to avoi the possibility of higher estate and payroll taxes in 2021.

Please fill in this survey about whether you think a tax increase is likely to occur and I’ll share the results here.


A4A Welcomes Glen Wagstaff, J.D., On Year-End Planning  

Glen Wagstaff’s class on year-end tax planning received an 8.9 rating out of 10, which is pretty darn good considering this is such a tough audience.

When I decided to focus A4A on a core curriculum centered on running a financial advisory practice, I chose Bob Keebler to cover tax and financial planning because Bob had been my source when I wrote for Dow Jones Investment Advisor for over a decade about tax news. Bob sets the benchmark for excellence for tax advice but he's a simple guy.   

Last Thursday, right before Bob was about to begin his class on year-end tax planning, Bob and I had a few minutes to talk, and I mentioned that A4A was creating a second year-end planning class with a tax attorney I had found in my research. Bob’s immediate reaction: “Good!”

I am privileged to have Bob Keebler’s trust, because he is such a professional. We are bound by our commitment to give advisors the knowledge to be great professionals.   

Glen represents the new generation of tax educators for advisors. After graduating from law school at Brigham Young University, Glen worked for a law firm for a year and decided to start his own firm. Seven years later, Glen, now, 32, has five children, and one of the fastest growing estate-tax law firms in the U.S., with 100 attorneys across the country.

Glen is charged with covering tax ideas Bob does not cover, or adding a second opinion to something Bob says. He's a complement to Bob. It's a colaboration, a one- two-punch, for A4A members. 

Glen is hungry to do good work and idles at high-speed. Clearly wired for a focused high-energy life, he’s an independent thinker and entrepreneur.  There are profitable ways Glen, Bob and I can collaborate to improve the quality of estate tax advice on A4A. I love when that happens! When everyone wins from engagement in facts! 

One thing I really like about Glen is that we are on opposite sides of the political spectrum. Occasionally, Bob, Fritz, Craig, or I am is accused of poltical bias, and I hate when that happens.

For the record, we’re all on different sides of the political mosaic but share a common interest in providing evidence-based CE for fiduciaries without political bias.   

A4A Survey Results On Year End Tax Planning 

The summary of A4A’s survey of professionals is presented in the video to the right: Sixty-eight percent of advisors expect a payroll tax hike and 45% predict expansion ff the estate tax. 

The results reveal that the period between now and the end of the year is crucial for practitioners to be actively marketing by warning about the tax hikes coming next year. To be clear, the overwhelming majority of advisors polled expected a 12.4% payroll tax hike in 2021 and nearly half expect the estate tax exemption will be slashed. 

The Advisor Products FINRA-reviewed financial stream of articles, emails, videos, and tweets enables advisors to continually nudges clients, influencers, and prospects with long-term tax and financial planning news.


More than 50 hours of CFP® CE credit and more than 100 hours of Investments & Wealth Institute® credit on replays available 24/7 to paying members ($120 annually) of
Advisors4Advisors.com. CPAs are eligible to receive CPE for attending live webinars only. To learn how to receive continuing professional education credit viewing webinar replays, please see our detailed instructions.

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Great info. I went to Glen's website. He has blog section with no content; why list them then? He has it listed that there are offices in Denver, for example, but no information about it. If you click on Attorneys, then "See Our Team" the site says to follow their link to see their contact info, but there is none. It seems fishy.

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Good information, but a little choppy on the presentation skills.

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Good job!

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