Content Level: Advanced
NAPFA Subject Area: F-Estate Planning

It is common for an estate planning client to have a significant portion of his or her assets in IRAs, 401(k) plans, or other retirement plans. Because these assets have very different characteristics from investment assets held outside the retirement plan, they pose unique estate planning problems. The professional advisor’s failure to recognize and properly deal with the unique characteristics of retirement benefits can cause financial losses to a client and his or her beneficiaries. This seminar explains the problems of integrating retirement benefit assets into the estate plan in several typical client situations in the post-SECURE environment, particularly how to benefit the surviving spouse, minor children, adult children, and disabled beneficiaries, and looks at the advantages and disadvantages of various possible solutions.

1. Understand what cultural competencies are and why they matter to their financial planning practice.
2. Discover the advantages of mastering cultural competencies and the disadvantage of not mastering them.
3. Learn how to apply newly acquired information to help them effectively communicate with clients in their practice who share a different culture their own.

Natalie Choate