Purposeful, Principled and Profitable Life Driven Estate Planning
NOON MEETING
THURSDAY, MAY 4, 2017
(Lunch served Noon-12:30 p.m..; Program 12:30-1:30)
DALLAS COUNTRY CLUB
4155 Mockingbird Lane, Dallas, Texas
RESERVATION DEADLINE: WEDNESDAY, APRIL 26 (5:00 P.M.) (PAYMENT MUST BE IN COUNCIL’S OFFICE)
Purposeful, Principled and Profitable Life-Driven Estate Planning
RAY ODOM
Sponsored by Carter Wealth Management and Southwestern Medical Foundation
Traditional estate planning is a death-driven process, and that’s a problem because most people are in no hurry to die. With the decrease in decedents subject to estate tax uncovering the nontax goals that drive estate planning advice has become imperative. The failure to probe, profile and present the goals-driven intent of a wealth owner is a practical problem and a significant ethical issue. In order to do goals-driven wealth transfer – you must create a goal that all wealth owners would be highly motivated to accomplish. That goal should be to perfectly contribute a benefit to someone or something. How does an advisor efficiently determine these non-tax intentions of the client? Not by focusing on the consequences of involuntary death. But rather, by getting the client to visualize the life changing benefits of the transferred wealth. Advisors should attempt to uncover, explore, shape and implement wealth transfers that optimally benefit the intended beneficiaries. Many estate plans even complex ones often mirror the default state intestacy laws leaving everything “equally” to children or to the closest relative. This default thinking simply does not fit the complexity of 21st century families. A goals-driven approach to estate planning may not just be a good idea it may be an ethical mandate. Creating wealth transfer goals that clients can accomplish successfully will give new impetus to stagnant estate planning discussions. More importantly the process of uncovering client values, family history, significant relationships and life aspirations in the context of monetary wealth transfer opens up new opportunities for delivering value. In this talk we explore a proprietary model called “V.I.M. & Vigor” to help advisors implement more purposeful, principled and profitable estate planning. Raymond C. Odom is a Senior Vice President at The Northern Trust Company in Chicago. Ray serves as a national speaker, subject matter expert and professional advisor on wealth transfer strategies. Ray works with Northern Wealth Management offices and Northern’s Foundation and Institutional groups around the country to provide advice to highly affluent wealth owners, professional wealth advisers and estate planning attorneys and accountants. Ray received his Bachelor’s Degree from Valparaiso University and his Juris Doctorate from The Ohio State University Moritz College of Law. He has been a Certified Financial Planner (CFP) for over 25 years an adjunct professor in the Benedictine University M.B.A. program and a guest lecturer on Trusts and Estates at Valparaiso University School of Law. He is licensed to practice law in Illinois and the US Tax Court.
There is continuing ed credit pending for this presentation. The program handouts are paperless. The handout will be available to download on the website (Document Library) a few days prior to each meeting. YOU may print the handout if you prefer to have a handout at the meeting.
Note: Paid membership dues do not include meals. To register for the meeting, complete the form below, enclose a check (payable to Dallas Estate Planning Council) for the respective amount (indicated below) and mail to: Dallas Estate Planning Council, P.O. Box 38553, Dallas, TX 75238-8553. You may register online with a credit card payment on the website: go to www.dallasepc.org, look for “Upcoming Events” on the left column and click on “May 4 – Event Details”, scroll down to the bottom of the page and register. If you need a receipt, print out the confirmation page.
PREPAID MEALS: Members who have already paid in advance for all meetings for the year MUST register so we will have a count for the number of meals to prepare. PREPAID MEMBERS MUST REGISTER ON THE WEBSITE BY THE DEADLINE - go to www.dallasepc.org, look for “Upcoming Events” on the left column, click on “May 4 – Event Details”, scroll down to the bottom of the page and register.
THERE WILL BE 10 MEALS AVAILABLE FOR WALK-INS ON DAY OF MEETING (FIRST COME, FIRST SERVE). ALL OTHER WALK-INS WILL BE “PROGRAM ONLY”. CREDIT CARDS ARE NOT ACCEPTED AT THE DOOR, CASH OR CHECK ONLY. Member: $37 (includes meal and program); Guest: $60 (includes meal and program);*Member-Program Only: $25 (*ONLY MEMBERS may choose “program only” for $25; $20 Emerging Professionals – FIRST MEETING (includes meal/program-MUST be 40 years of age or younger or less than 5 years in respective discipline)
Name: ________________________________________
____$37 ___$60 ____$25 (Member-Program Only) ____$20 (EP-First Meeting)
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WE WOULD LIKE TO THANK OUR MEETING SPONSORS: BB&T WEALTH, BESSEMER TRUST, CARTER FINANCIAL MANAGEMENT, COMMUNITIES FOUNDATION OF TEXAS, DALLAS JEWISH COMMUNITY FOUNDATION, DALLAS WOMEN’S FOUNDATION, JACKSON, WALKER, PARKLAND FOUNDATION, QUEST CAPITAL MANAGEMENT, SOUTHWESTERN MEDICAL FOUNDATION, THE CATHOLIC FOUNDATION AND TOLLESON WEALTH MANAGEMENT. IT IS THE SPONSORS WHO MAKE POSSIBLE THE SOCIAL EVENTS AND PROVIDING EXCELLENT SPEAKERS.IN ADDITION, WE WOULD LIKE TO RECOGNIZE THE PATRONS: BISIGNANO HARRISON & NEUHOFF, FMV OPINIONS, INC., HERITAGE AUCTIONS, GLAST, PHILLIPS & MURRAY, GOLDIN, PEISER & PEISER, MCKINNON PATTEN & ASSOCIATES AND RUSSELL TETHER FINE ARTS. THE PATRON PROGRAM PROVIDES ADDITIONAL FUNDS TO SUPPORT THE COUNCIL’S ACTIVITIES.
