2024 Field Guide to Estate Planning

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This practical reference provides a ready means of identifying and understanding key concepts and techniques used in estate, business, and employee benefit planning – updated with the latest on the Inflation Reduction Act and Secure Act changes, as well as new sections on Leveraged Bonus Arrangements, Life Insurance and Redemption Buy-Sell Agreements and IRA strategies under the SECURE Act.

The 2024 Field Guide to Estate & Retirement Planning, Business Planning & Employee Benefits provides a ready means of identifying and understanding the concepts and techniques used in estate, business, and employee benefit planning. Recognizing that we live in a world of visual communication, numerous drawings and charts have been included to assist readers in identifying and understanding many of the concepts which are most frequently encountered when working with clients and other professionals. It can serve as a desktop reference source, a classroom training aid, or, carried in a briefcase, as a resource to be shared with clients or other advisors.

New in the 2024 Edition:

  • Analysis of the provisions and ramifications of SECURE Act 2.0, including:
    • changes to the RMD dates
    • reduction in penalties for failure to take RMDs
    • RMD calculation option for partial annuitization
    • new exceptions to the 10% early distribution penalty
    • changes to qualified charitable distributions
    • alterations to the qualified longevity annuity contract premiums
  • How SECURE Act 2.0 helps clients can take advantage of three wealth transfer strategies: life insurance, charitable remainder trusts and IRA trusts
  • A new section on virtual currency planning discussion the tax treatment of virtual currency
  • Expanded coverage of restricted property trusts, including the McGowan case where it seems likely that court will provide substantive guidance on issues that have troubled life insurance carriers
  • Analysis of the Eighth Circuit's decision in Connelly v. United States, where the court cast further doubt on the viability of life insurance funded entity buy-sell arrangements
  • Update on how AFR rates had dramatically increased and were nearing historical averages in 2023
  • Discussion of the IRS' attack on captives funded for what the IRS considers reasons other than legitimate risk-protection

Topics Covered:

  • Estate, gift, and income tax planning strategies
  • Business valuations and transfers
  • Employee compensation and benefit planning
  • Asset protection strategies
  • Insurance products and risk management techniques
  • Social Security, Medicare, and Medicaid eligibility and benefits
  • Fringe benefits
  • Trust structures and trust planning
  • Corporations and pass-through entities
Additional Information
SKU 1790024B
Publication Date October 12, 2023
ISBN 978-1-58852-825-4
Page Count 788
Author Randy L. Zipse, J.D. AEP and Donald F. Cady J.D., LL.M., CLU (emeritus)
Edition 2024
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Randy L. Zipse, J.D., AEP

Randy L. Zipse, J.D., AEP (Distinguished) is currently Vice President, Advanced Markets for Global Atlantic Financial Group and has worked in the life insurance industry for the past twenty years where he has managed advanced markets departments for major life insurance carriers and independent distribution organizations.

Mr. Zipse has written numerous articles on trust taxation, estate planning, and business succession planning which have appeared in the Journal of Financial Service Professionals, Broker World, Estate Planning, Life Insurance Selling, and National Underwriter. He is the author of National Underwriter’s Field Guide. He is also a co-author with Stephan R. Leimberg of Tools and Techniques of Charitable Planning and a member of the Tax Facts Editorial Advisory Board. Mr. Zipse is a frequent lecturer at industry meetings, including such major events as the AALU, Forum 400, Million Dollar Round Table, New York University Tax Institute, University of Miami Heckerling Tax Institute, Hawaii Tax Institute, and the Annual Harris M. Plaisted Conference.

Prior to entering the life insurance industry, he worked as an attorney in private practice. Mr. Zipse has been associated with several large firms, including Jones Day Reavis & Pogue and Gardere & Wynne – both in Dallas, Texas. As a private practice attorney, Mr. Zipse concentrated on estate planning, deferred compensation, business succession planning, and charitable planning. Prior to becoming an attorney, Mr. Zipse worked as a CPA with Deloitte Haskins & Sells.

An honors graduate of the University of Northern Iowa (B.A. in accounting), Mr. Zipse subsequently received his J.D. from Drake University College of Law (Order of the Coif, class rank number one), and is a member of the Iowa, Texas and Missouri Bars.

Donald F. Cady

Donald F. Cady conceived and developed the Field Guide to Estate Planning, Business Planning & Employee Benefits in 1989 and updated it annually for twenty-five years, when Randy L. Zipse was named the successor author. Mr. Cady continues as author of the Field Guide to Financial Planning, which is cowritten with Michael Kitces, MSFS, MTAX, CFP®, CLU, ChFC, RHU, REBC, CASL.

 Mr. Cady is an attorney and a Chartered Life Underwriter. He is a graduate of St. Lawrence University with a B.A. in Economics, where he received the Wall Street Journal Award for excellence in that subject. He received his J.D. degree from Columbia University School of Law, holds the degree of LL.M. (Taxation) from Emory University School of Law, and is a member of the New York Bar.

He is an independent consultant working with The National Underwriter Company in providing support materials and services to the financial planning industry. In addition to this publication, he is the author of Field Guide Online[1], the web version of this book.

For twenty years Mr. Cady was with the Aetna Life Insurance & Annuity Company in various advanced underwriting positions. Prior to this, he was a member of the U.S. Army Judge Advocate Generals Corps, with tours of duty in both Vietnam and Europe. He and his wife live in Fort Myers Beach, Florida.

Mr. Cady has been a frequent speaker on the subjects of estate planning, business planning, and employee benefits, before business and professional organizations, estate planning associations, life underwriter's meetings and various civic groups. Through these appearances, together with his work with agents, their clients, and advisers, Mr. Cady has shared the frustrations of trying to effectively explain and communicate planning concepts and techniques to both student and laymen. The two Field Guide publications represent his response to that challenge.



[1] Field Guide Online is a trademark of The National Underwriter Company.