Course 1: Business Planning: Business Succession and Retiree Planning (up to 9 CE Credits)
The objective of this course is to help planning professionals better serve clients with business and personal transition challenges. The course is presented in three chapters.
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Chapter 1: Strategies for Transitioning a Family Business to the Next Generation
This Chapter analyzes the planning and tax challenges of transitioning a successful family business to the next generation. Through the use of a case study, this chapter reviews (1) the essential plan elements, (2) key traps that must be avoided, (3) alternative wealth transfer options, (4) ideas for incorporating new business structures, and (5) the difficulty of incorporating exotic estate planning strategies into a plan that is primarily focused on a family business.
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Chapter 2: Protection from Co-Owners: Buy-Sell Agreements and Mistakes to Avoid
This Chapter analyzes the planning and tax challenges of structuring buy-sell agreements among the owners of a business. The chapter examines (1) the different types of closely held businesses and why the structuring challenges for each types varies, (2) the numerous and varying objectives for the use of buy-sell agreements, (3) the consequences of not having a buy-sell agreement, (4) the key elements of the document, and (5) common mistakes to avoid. A case study is used throughout the presentation.
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Chapter 3: Advising Retirees and Those Close to Retirement on the Tough Planning Questions
This Chapter reviews and analyzes the toughest estate planning questions that advisers of retirees must address: Social Security; Medicare; Medicaid; health care reform; estate taxes; planning options for children and grandchild; trust options on the death of the first spouse; long-term disability, living trusts, directive to physicians, end-of-life planning, and more.
PlainTalk Professional Member (9 CE Credits) - Included in Membership (see below)
Non-Member Program Cost (9 CE Credits) - $80
Pre-Approved: Certified Financial Planners Board of Standards - 9 CE Credits
Course 2: Select Protection Planning Challenges (Up to 7 CE Credits)
The objective of this course is to help planning professionals better understand the planning and tax challenges of three common protection planning situations. The course is presented in three chapters.
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Chapter 1: Shareholder Protection: An Update Primer on Corporate and Tax Basics
This Chapter examines fundamental issues relating to the use of corporations, recent changes, and key factors that all advisers should understand. It discusses (1) why use of corporations is so popular, (2) the different tax treatment of C and S corporations, (3) factors to consider in selecting the state of incorporation, (4) key corporate documents and common mistakes, (5) the limits of limited liability protections provided by a corporation structure, and (6) basic securities law challenges of closely held corporations.
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Chapter 2: Family Business Protection: Advising Business Clients on the Fundamental "Keep vs. Sell" Decision
This Chapter analyzes the factors that a professional adviser should consider in advising a business owner on the fundamental decision of whether the business should be sold. Through the use of a case study, the program discusses (1) why business owners struggle with this fundamental decision and often turn to professional advisers for help, (2) eight tax and other mistakes that owners and advisers often make in dealing with the issue, (3) seven key business indicators that should be considered, (4) four “look-back” planning blunders, situations where prior tax planning opportunities are often lost through neglect, and (5) diversification and other ideas for dealing with situation where the business should be sold, but the owner has decided to keep.
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Chapter 3: Protection of Minor Children - Advising Parents of Minors
This Chapter examines the planning and tax issues related to funding future college costs and preparing for tragedy. It reviews why trusts are so essential, different types of trusts, and the estate, gift and income tax impacts of trusts. It then examines eight structural options for funding future college costs for a minor and the related tax, legal and creditor protection benefits. The program finishes by discussing the planning challenges of protecting minors from the tragedy of a parent’s untimely death, including trust options, durable powers of attorney, life insurance, and more.
PlainTalk Professional Member (7 CE Credits) - Included in Membership (see below)
Non-Member Program Cost (7 CE Credits) - $65
Pre-Approved: Certified Financial Planners Board of Standards - 7 CE Credits
Course 3: Front End Planning Challenges (Up to 5 CE Credits)
The objective of this course is to help planning professionals better understand the planning and tax challenges of two fundamental front end planning challenges: choosing the best entity form and preparing for the wealth transition process. The course is presented in two chapters.
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Chapter 1: Choice of Entity Planning: C Corporation, S Corporation, or LLC?
This Chapter analyzes the tax and non-tax challenges of selecting the best entity form. The chapter (1) explains why recent tax changes and profound economic challenges have required many businesses and their advisers to reexamine this challenge, (2) reviews the entity candidates, (3) summarizes the tax perks and traps of each candidate, and (4) uses five mini case studies to illustrate 15 different factors that must be considered in the decision making process.
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Chapter 2: Preparing Clients for the Estate Planning Process
This Chapter examines the legal and tax issues and the related practical concerns that must be considered in anticipation of developing an estate plan for a client. It first reviews the common objections many couple have with the estate planning process, how these objections can be easily overcome up front, and why self-help estate planning services are not the answer for most clients. It illustrates and explains how to handle the key start up questions on issues such as estate tax planning, probate avoidance techniques, life insurance structuring, options for structuring trusts for minors, plan customization techniques, picking key players (trustees, guardians and personal representatives), and more.
PlainTalk Professional Member (5 CE Credits) - Included in Membership (see below)
Non-Member Program Cost (5 CE Credits) - $50
Pre-Approved: Certified Financial Planners Board of Standards - 5 CE Credits
Two Options for Obtaining Programs
Option 1: Become a PlainTalk Professional Member
Receive unlimited online access to all existing and future continuing education programs and the right to all available CE credits while you are a member. Existing programs now offer 21 hours of CE credit (see above) and more will come on a regular basis. In addition, you, family members and colleagues have unlimited online access to all existing and future PlainTalk full length and mini programs and the members-only monthly learning quizzes that are released six times a year. You also receive advance notice of posts to Professor Drake's PlainTalk blog twice a week. Professional Member Cost: Pay $16.00 each month (minimum 12 months, includes sales tax). Click here for membership details and to sign up.
Option 2: Individual Programs
Buy the right to receive online for a full year a program's workbook, video presentation(s), online training quizzes, and online final exam. Program updates are automatically included. You simply download the program workbook and a document that links you to the video presentations, the quizzes, and the final exam. The final exam is graded instantly and CE credits are certified as required. Buy Now
Authored From Experience
For decades, Professor Dwight Drake built and managed a highly successful legal practice that exclusively serviced the planning needs of families, business owners and professionals. PlainTalk programs capture the breadth of Professor Drake's experience as an adviser, author, speaker, professor, and business owner.
Another Opportunity!
As a planning professional, you have the opportunity to strengthen your business by offering, via your website, private-labeled video planning programs to your clients, employees and prospective clients. It's a unique, low cost, value-added service that educates employees, strengthens your ties to existing clients, helps develop new clients, and triggers ideas that lead to more business. It works for everyone. Click here for details.
Please Note: The video presentations included with these continuing education programs are expanded versions of select programs in the PlainTalk full length program menu. Thus, the shorter versions of these specific programs in the regular PlainTalk menu will be of no value to a professional who completes these continuing education. Such shorter versions may be of interest to family members and colleagues who share the benefits of a professional's membership.
