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58:50
Course recording
Video
Summary (AI Generated)
The webinar, sponsored by LLIS for NAPFA Genesis, focused on long-term care insurance and hybrid solutions. Presenter Taylor explained why LTC planning matters, using national care-cost data to show how expensive home health care, assisted living, and nursing homes can be depending on location. She outlined practical guidelines for coverage design, including choosing monthly benefits based on local care costs, selecting benefit periods tied to average claim lengths, and adding inflation protection, typically 3%.

Taylor also discussed LTC underwriting, emphasizing that approval is often binary and becomes harder with age, medical history, recent physical therapy, neuropathy, medications, and family history of cognitive decline. She compared reimbursement and indemnity benefit structures, elimination periods, and benefit triggers such as inability to perform two activities of daily living or cognitive impairment.

A major portion of the session compared traditional LTC insurance with hybrid options. She explained death-benefit-priority life hybrids, LTC-priority life hybrids, joint policies, and hybrid annuities, highlighting guarantees, funding flexibility, 1035 exchanges, and tax-free death benefits. She also reviewed partnership qualification, noting that only traditional LTC policies generally qualify.

The session ended with Q&A on CCRC fees, overseas coverage, underwriting stringency, and how to spot a weak policy. [Read More]
Slide handout
PDF
Summary (AI Generated)
This presentation explains long-term care insurance (LTCi) and hybrid alternatives, focusing on why coverage matters, how policies work, and when different designs fit client needs.

Key points:
- LTC costs vary widely by location and type of care, with nursing homes often the most expensive. Home health care can be covered at or near 100%, while nursing home coverage may only replace about 60% under typical planning assumptions.
- The best time to buy LTCi is younger, since premiums are lower and underwriting is more favorable. Women generally pay more, and underwriting considers age, medical history, family history, and recent health issues.
- Decline rates rise sharply with age, and common underwriting obstacles include recent physical therapy, pending tests, medication changes, neuropathy, pain injections, and major co-morbidities.
- Traditional LTCi policies offer reimbursement or indemnity benefits, daily/monthly benefits, elimination periods, benefit periods, inflation protection, and triggers based on inability to perform two ADLs or cognitive impairment.
- Case studies show how policy design affects premium, coverage, and benefit protection for couples such as Jake and Katie.
- Hybrid solutions include hybrid life insurance and hybrid annuities. Hybrid life policies combine death benefit and LTC benefit with guaranteed premiums and flexible funding options (single pay, short pay, lifetime in some cases).
- Riders can be structured as LTC riders under Section 7702B or chronic illness riders under Section 101(g), with differences in tax treatment and how claims are represented.
- Hybrid annuities are fixed deferred annuities with LTC riders, usually single premium, with limited underwriting and LTC pools that can extend benefit periods.
- A comparison chart highlights differences across traditional LTCi, hybrid life, and hybrid annuity regarding death benefit, premium structure, underwriting, and partnership qualification.
- Hybrids tend to fit younger high-income clients, those with cash value or annuities for 1035 exchanges, clients seeking guarantees, and those with significant medical history. [Read More]
01:03:25
Course recording
Video
Summary (AI Generated)
Derb Price Galt of Juneau presents an end-to-end overview of student loans, focusing on how advisors and borrowers can choose between federal repayment options, PSLF, and private refinancing amid major policy changes. He reviews the size of the market ($1.83T; ~92% federal) and walks through the borrowing timeline: FAFSA submission, aid packages, appeals, and funding gaps. Key upcoming borrowing shifts include new caps on Parent PLUS loans ($20k/year; $65k lifetime per student) and limits on Grad PLUS (generally $100k–$200k depending on program), increasing reliance on private student loans to close gaps.

On repayment, he explains federal plans are being streamlined: PAYE, ICR, and SAVE are expected to sunset by 2028, with SAVE currently in litigation and many borrowers in forbearance accruing interest and not progressing toward forgiveness. A new Repayment Assistance Plan (“WRAP”) launches this summer, using 1%–10% of AGI (generally 10% for higher incomes), offering interest subsidies and modest principal reduction, but requiring up to 30 years for forgiveness. Borrowers will generally choose between WRAP and IBR (old/new), with eligibility based on first-borrowed date; consolidations after July 1 may force WRAP-only eligibility.

He details PSLF (120 qualifying payments, tax-free forgiveness) and best practices like annual employer certification via the PSLF Help Tool, plus a potential “buyback” for missed months. Refinancing is framed as ideal for high-income borrowers not using federal benefits; it can lower rates, remove cosigners, and adjust terms, but permanently exits federal protections. Tax filing status (MFJ vs MFS) can materially affect IDR payments and must be weighed against tax costs. [Read More]
Slide handout
PDF
Summary (AI Generated)
This NAPFA presentation by Joseph Price-Gault (Juno) outlines how advisors can build holistic student-loan strategies across federal repayment, PSLF, and private refinancing. It frames the market (about $1.83T outstanding; ~92% federal) and emphasizes early FAFSA completion to maximize limited first-come aid.

Major policy changes begin July 1, 2026: new borrowing limits and a redesigned income-driven landscape. Borrowers who take a new disbursement or consolidate on/after July 1, 2026 will be restricted to the new Repayment Assistance Plan (RAP), while traditional IBR remains only for loans disbursed or consolidated before that date. The session highlights the practical importance of deadlines—especially July 1, 2028, when borrowers on phased-out plans must switch (or be auto-enrolled in IBR).

SAVE, introduced in 2023, is described as effectively nonfunctional: it was paused in summer 2024; time in forbearance doesn’t count toward PSLF/forgiveness; and interest resumed August 1, 2025. Advisors are urged to evaluate switching SAVE borrowers into IBR (old vs. new) or RAP rather than waiting.

PSLF fundamentals are reviewed (120 qualifying payments, qualifying employer, no acceleration, tax-free forgiveness), with best practices: use the PSLF Help Tool, submit employer certification annually, verify eligibility (especially in private practice), and document employment during forbearance for potential buyback.

Refinancing guidance distinguishes private refinancing from federal consolidation and stresses irreversibility: refinancing federal loans permanently forfeits federal protections (IDR/PSLF). A decision framework is provided: refinance private loans for better terms; keep federal loans when benefits matter; refinance only the private portion for mixed portfolios. Case studies illustrate when to refinance (no PSLF benefit, Parent PLUS modeling vs. ICR) versus when to stay federal (PSLF-track borrowers, residents).

Finally, the talk integrates loans into broader planning: cash-flow modeling, MFJ vs. MFS tax analysis, retirement contributions to reduce AGI (and IDR payments), and insurance/estate considerations. Advisors should reassess plans at least annually. [Read More]
59:43
Course recording
Video
Summary (AI Generated)
Mike Sosnowski of Transamerica presents an extensive overview of year-end professional development strategies focusing on tax planning, retirement, and estate considerations. He discusses the impact of the One Big Beautiful Bill Act (OBBA), which extends the Tax Cuts and Jobs Act provisions and introduces new tax deductions, including increased SALT deductions and special deductions for those over 65. Mike emphasizes tax loss harvesting to offset capital gains and income, and highlights the Qualified Charitable Distribution (QCD) as an effective charitable giving strategy, especially for retirees facing high standard deductions.

For small business owners, he advises reviewing or establishing retirement plans like SEP IRAs or 401(k)s to maximize tax benefits and potential Qualified Business Income deductions. He highlights the importance of beneficiary reviews to avoid costly mistakes in asset distribution, especially when trusts are involved. Mike underscores the growing role of Roth IRAs, boosted by SECURE Act 2.0 provisions enhancing Roth options and introduces the upcoming Trump accounts designed for minors.

Key retirement planning tips include leveraging tax diversification across taxable, tax-deferred, and tax-free accounts to hedge against uncertain future tax policies. He also stresses attention to required minimum distributions (RMDs), especially from inherited IRAs, to avoid penalties. The session concludes by encouraging advisors to use available resources to guide clients through complex tax and retirement landscapes to optimize their financial futures. [Read More]
Handout #4 - Tax Facts at a Glance
PDF
Summary (AI Generated)
The document summarizes key U.S. federal tax information for 2025, including updated tax rate schedules, deductions, credits, retirement plan limits, and Social Security details, with comparisons to 2024. 2025 Income Tax Rates: For Married Filing Jointly, tax brackets start at 10% for income up to $23,850, scaling up to 37% for incomes over $751,600. Single filers have tax brackets from 10% up to incomes of $11,925, with the top 37% rate starting over $626,350. Estates and trusts have separate brackets, starting at 10% and tops out at 37% above $15,650. Major 2025 Tax Changes under the One Big Beautiful Bill Act (OBBBA): - State and Local Tax (SALT) deduction capped at $40,000 for singles under $250,000 MAGI and joint filers under $500,000 MAGI, phasing down to $10,000 floor over thresholds. - New deductions introduced for U.S. auto loan interest (up to $10,000), qualified overtime compensation, and qualified tips with phase-outs based on modified adjusted gross income (MAGI). - Trump Accounts: $1,000 government funding for children born 2025-2028. - Corporate tax remains at 21% of taxable income. - Qualified business income deduction thresholds increased. Other 2025 Highlights: - Standard deduction increases to $31,500 for married filing jointly, $15,750 for singles. - Child Tax Credit is $2,200 per child under 17, phasing out above $400,000 joint MAGI. - Capital gains tax rates remain 0%, 15%, or 20% depending on income thresholds. - Estate and gift tax exemptions rise slightly to $13.99 million with a 40% rate. - Retirement plan contribution and catch-up limits increase (e.g., 401(k) employee deferral at $23,500). - Social Security full retirement age varies by birth year, max monthly benefit is $4,018; earnings limits for benefit withholding and maximum taxable compensation ($176,100 for OASDI) are updated. Additional detailed phase-out ranges for IRA contributions, required minimum distribution factors, and other tax provisions are included, reflecting 2025 inflation adjustments. Taxpayers are advised to consult personal advisors as these figures are subject to change. [Read More]
Handout #1 - Year-End Strategies
PDF
Summary (AI Generated)
As the year-end approaches, it’s important to consider various tax and financial planning strategies before December 31 to maximize benefits, especially with new tax provisions beginning in 2025. Key upcoming changes include new deductions for qualified tips, overtime pay, auto loan interest, and an increase in the SALT deduction, child tax credit, and standard deduction, as well as specific provisions for seniors and charitable giving limits. These provisions will phase in or expire between 2025 and 2029, requiring careful attention to timing.

Small business owners and sole proprietors can reduce their 2025 tax liabilities and grow retirement funds through 401(k) profit-sharing plans or defined benefit plans, each offering specific contribution limits and tax advantages but often needing professional administration.

For charitable donors, gifting appreciated assets can avoid capital gains taxes, and qualified charitable distributions (QCDs) from IRAs are tax-efficient for those aged 70 or older, with limits indexed for inflation. Deduction limits vary based on charity type and asset gifted.

Low-income years, such as retirement or job loss, create opportunities to benefit from 0% capital gains and low-income tax brackets, providing chances to rebalance investments or withdraw from IRAs at favorable rates, potentially reducing future required minimum distributions.

Roth conversions are strategies for tax diversification, potentially saving taxes if future rates rise. Tax diversification—allocating assets across taxable, tax-deferred, and tax-free accounts—provides financial flexibility in uncertain tax environments. Assessing one’s current asset allocation and planning accordingly is recommended.

Due to evolving tax laws and complex rules, consulting tax and financial professionals is strongly advised before implementing these strategies. Overall, proactive year-end planning can help optimize tax savings, retirement readiness, and charitable giving. [Read More]
Handout #2 - Guide to Estate Planning
PDF
Summary (AI Generated)
This comprehensive Transamerica guide provides an essential overview of estate planning fundamentals, aimed at helping individuals manage their assets, prepare for incapacity, and plan for the efficient transfer of wealth. It emphasizes the importance of early planning for all who own property or have dependents, regardless of wealth level.

Key components include preparing for incapacity through legal instruments like powers of attorney (financial/general, durable, healthcare, springing), advance healthcare directives (living wills, DNR orders), and guardianship, which courts appoint if no prior arrangements exist. The guide stresses selecting trustworthy agents and clear communication with involved parties.

It details wills and probate, highlighting probate drawbacks such as delays, lack of privacy, expenses, and potential for unintended disinheritance. Alternative estate transfer methods bypassing probate, including joint ownership, beneficiary designations on accounts, and trusts, are examined. Proper beneficiary designation management — primary, contingent beneficiaries, per stirpes vs. per capita distribution, disclaiming inheritances, and avoiding common errors — is strongly advised.

Trusts are explored extensively, describing parties (grantor, trustee, beneficiaries) and differentiating revocable (living) and irrevocable trusts, along with common types like credit shelter trusts (to maximize estate tax exclusions), QTIP trusts (for second marriages), intentionally defective grantor trusts (for income tax benefits), special needs trusts, charitable remainder trusts, and irrevocable life insurance trusts. Trusts can control distributions, protect assets, reduce taxes, and fulfill charitable goals.

The guide reviews taxation issues affecting estates, trusts, and beneficiaries, including income tax basis adjustments (step-up/down), income in respect of a decedent (IRD), federal estate and gift taxes, generation-skipping transfer tax (GSTT), net investment income tax (NIIT), and related strategies. Planning techniques, such as gifting strategies, marital deductions, gift splitting, and trust funding, are covered to manage taxes and liability.

Finally, it advises consulting qualified legal and tax professionals to tailor plans and comply with complex, evolving laws. The guide serves as a practical reference to help individuals safeguard their legacy, minimize taxes, and provide for their heirs with clarity and confidence. [Read More]
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