AICPA Personal Financial Planning (PFP)

CPA financial planners are often in a position to be the first to recognize declining cognitive function in a client. Reina Schlager, CPA/PFS, takes you through a summary of her 6-part series so that you can protect your clients financially and ensure a smooth transition of care. She covers: Does an 18-year-old need a durable POA? Client experiences to give you ideas of what to look for with your clients The 9 domains of diminished capacity The 10 warning signs from the Alzheimer’s Association Planning while clients are well Housing alternatives Access resources related to this podcast: Note: If you’re using a podcast app that does not hyperlink to the resources, visit http://pfplanning.libsyn.com/ to access show notes with direct links.  Podcast series: Part 1: Client experiences Podcast series: Part 2: The 9 domains of diminished capacity Podcast series: Part 3: The 10 warning signs Podcast series: Part 4: Planning while clients are well Podcast series: Part 5: Housing alternatives Guide to Retirement and Elder Planning: Healthcare Coverage Planning Guide to Retirement and Elder Planning: Social Security Planning This episode is brought to you by the AICPA’s Personal Financial Planning Section, the premier provider of information, tools, advocacy and guidance for professionals who specialize in providing tax, estate, retirement, risk management and investment planning advice. Also, by the CPA/PFS credential program, which allows CPAs to demonstrate competence and confidence in providing these services to their clients. Visit us online at www.aicpa.org/pfp to join our community, gain access to valuable member-only benefits or learn about our PFP certificate program. Subscribe to the PFP Podcast channel at Libsyn to find all the latest episodes or search “AICPA Personal Financial Planning” on your favorite podcast app.

It’s anyone’s guess what will happen with tax laws given all the proposals floating around. If you have clients concerned about losing the estate exclusion available to them today yet they are reluctant to transfer assets outright to children and grandchildren, the spousal lifetime access trust (SLAT) may be the perfect strategy.  Tune in as estate planning expert Steven Siegel, JD, LLM, walks you through the ins and outs of the SLAT technique, including: How the SLAT works to minimize tax and provide asset protection for multiple generations Why it’s not just for the highest net worth clients How to get around the risks of death and divorce Access resources related to this podcast: Note: If you’re using a podcast app that does not hyperlink to the resources, visit http://pfplanning.libsyn.com/ to access show notes with direct links. Access Steve Siegel’s 4-volume Adviser’s Guide to Financial & Estate Planning, exclusive to AICPA PFP/PFS members. This episode is brought to you by the AICPA’s Personal Financial Planning Section, the premier provider of information, tools, advocacy and guidance for professionals who specialize in providing tax, estate, retirement, risk management and investment planning advice. Also, by the CPA/PFS credential program, which allows CPAs to demonstrate competence and confidence in providing these services to their clients. Visit us online at www.aicpa.org/pfp to join our community, gain access to valuable member-only benefits or learn about our PFP certificate program. Subscribe to the PFP Podcast channel at Libsyn to find all the latest episodes or search “AICPA Personal Financial Planning” on your favorite podcast app.

When you determine that your client needs a plan for transition of care, you will discover that there are endless options.  In part 5 of this PFP Section podcast series, Reina Schlager, CPA/PFS, helps you sift through the pros and cons of each so that you can best guide your client. She discusses: Home and respite care Ranges of care facilities and how to select the best one Considerations with a couple Keeping humanity and kindness at the forefront Access resources related to this podcast: Note: If you’re using a podcast app that does not hyperlink to the resources, visit http://pfplanning.libsyn.com/ to access show notes with direct links.  Access parts 1 through 4 in this series here. Guide to Retirement and Elder Planning: Healthcare Coverage Planning Guide to Retirement and Elder Planning: Social Security Planning This episode is brought to you by the AICPA’s Personal Financial Planning Section, the premier provider of information, tools, advocacy and guidance for professionals who specialize in providing tax, estate, retirement, risk management and investment planning advice. Also, by the CPA/PFS credential program, which allows CPAs to demonstrate competence and confidence in providing these services to their clients. Visit us online at www.aicpa.org/pfp to join our community, gain access to valuable member-only benefits or learn about our PFP certificate program. Subscribe to the PFP Podcast channel at Libsyn to find all the latest episodes or search “AICPA Personal Financial Planning” on your favorite podcast app.

Investment decisions are often made based on unconscious biases and motivations. When we help our clients understand the why behind their money, they will be able to make informed choices. In this episode of the PFP Section podcast, Join Bob Stammers, CFA and Director of Investor Engagement at CFA Institute and Lisa Kueng, Managing Director at Invesco Global Consulting as they discuss:   Lessons we can learn from Sigmund Freud and athletes Using visualization techniques to understand subconscious thoughts The neuroscience between envisioning ourselves doing something and acting on it An example of how you can do this for your clients Access resources related to this podcast: Note: If you’re using a podcast app that does not hyperlink to the resources, visit http://pfplanning.libsyn.com/ to access show notes with direct links.  Article: Investing lessons from Sigmund Freud This episode is brought to you by the AICPA’s Personal Financial Planning Section, the premier provider of information, tools, advocacy and guidance for professionals who specialize in providing tax, estate, retirement, risk management and investment planning advice. Also, by the CPA/PFS credential program, which allows CPAs to demonstrate competence and confidence in providing these services to their clients. Visit us online at www.aicpa.org/pfp to join our community, gain access to valuable member-only benefits or learn about our PFP certificate program. Subscribe to the PFP Podcast channel at Libsyn to find all the latest episodes or search “AICPA Personal Financial Planning” on your favorite podcast app.

Putting a plan in place prior to recognizing dementia in your clients is ideal.  In part 4 of this PFP Section podcast series, Reina Schlager, CPA/PFS, discusses the following: Why it’s important to act while your clients are healthy Planning documents and other considerations Preserving dignity for the impaired client What can go awry and how to avoid Access resources related to this podcast: Note: If you’re using a podcast app that does not hyperlink to the resources, visit http://pfplanning.libsyn.com/ to access show notes with direct links. Access parts 1 through 3 in this series here. Guide to Retirement and Elder Planning: Healthcare Coverage Planning Guide to Retirement and Elder Planning: Social Security Planning This episode is brought to you by the AICPA’s Personal Financial Planning Section, the premier provider of information, tools, advocacy and guidance for professionals who specialize in providing tax, estate, retirement, risk management and investment planning advice. Also, by the CPA/PFS credential program, which allows CPAs to demonstrate competence and confidence in providing these services to their clients. Visit us online at www.aicpa.org/pfp to join our community, gain access to valuable member-only benefits or learn about our PFP certificate program. Subscribe to the PFP Podcast channel at Libsyn to find all the latest episodes or search “AICPA Personal Financial Planning” on your favorite podcast app.

CPA financial planners may be the first to recognize dementia in their client and this can go a long way towards protecting the client’s assets and ensuring a proper care plan is put in place.  In part 3 of this podcast series, Reina Schlager, CPA/PFS, discusses the following: The ten warning signs that your client may be declining mentally Examples of what to be on the lookout for with these warning signs What to do once you have identified an issue with your client Access resources related to this podcast: Note: If you’re using a podcast app that does not hyperlink to the resources, visit http://pfplanning.libsyn.com/ to access show notes with direct links. Access parts 1 and 2 in this series here. Guide to Retirement and Elder Planning: Healthcare Coverage Planning Guide to Retirement and Elder Planning: Social Security Planning This episode is brought to you by the AICPA’s Personal Financial Planning Section, the premier provider of information, tools, advocacy and guidance for professionals who specialize in providing tax, estate, retirement, risk management and investment planning advice. Also, by the CPA/PFS credential program, which allows CPAs to demonstrate competence and confidence in providing these services to their clients. Visit us online at www.aicpa.org/pfp to join our community, gain access to valuable member-only benefits or learn about our PFP certificate program. Subscribe to the PFP Podcast channel at Libsyn to find all the latest episodes or search “AICPA Personal Financial Planning” on your favorite podcast app.

As health savings accounts (HSA) are triple tax free (contribution, growth, qualified withdrawals), these accounts, their uses and balances continue to grow.  In this episode of the PFP Section podcast, Kelley Long shares advanced strategies and common misconceptions of HSAs including: Shoe box strategy for HSAs Using HSAs to address unknowns in retirement Techniques for HSA funding and providers Access resources related to this podcast: Note: If you’re using a podcast app that does not hyperlink to the resources, visit http://pfplanning.libsyn.com/ to access show notes with direct links.  Get up to speed with all the latest proposals and how they may impact your clients with guidance with Proactive Planning Toolkit and Adviser’s Guide To Retirement And Elder Planning Guide. Listen to Ted Sarenski’s presentation on the Planning With High-Deductible Health Plans This episode is brought to you by the AICPA’s Personal Financial Planning Section, the premier provider of information, tools, advocacy and guidance for professionals who specialize in providing tax, estate, retirement, risk management and investment planning advice. Also, by the CPA/PFS credential program, which allows CPAs to demonstrate competence and confidence in providing these services to their clients. Visit us online at www.aicpa.org/pfp to join our community, gain access to valuable member-only benefits or learn about our PFP certificate program. Subscribe to the PFP Podcast channel at Libsyn to find all the latest episodes or search “AICPA Personal Financial Planning” on your favorite podcast app.

One of the potential tax changes widely discussed is the replacement of the IRC Section 1014 basis adjustment with gain realization at gift, death, and certain other transfers.  In this episode of the PFP Section podcast, Bob Keebler and Marty Shenkman share the impact this could have on clients, including: The difference between funding trusts on a fractional share basis versus a specific amount Gains that could be triggered right now for clients who have passed away and how to avoid Why it may be important to fund trusts quickly after death going forward Access resources related to this podcast: Note: If you’re using a podcast app that does not hyperlink to the resources, visit http://pfplanning.libsyn.com/ to access show notes with direct links.  Get up to speed with all the latest proposals and how they may impact your clients with the audio learning in the Proactive Planning Toolkit, exclusive to PFP/PFS members. This episode is brought to you by the AICPA’s Personal Financial Planning Section, the premier provider of information, tools, advocacy and guidance for professionals who specialize in providing tax, estate, retirement, risk management and investment planning advice. Also, by the CPA/PFS credential program, which allows CPAs to demonstrate competence and confidence in providing these services to their clients. Visit us online at www.aicpa.org/pfp to join our community, gain access to valuable member-only benefits or learn about our PFP certificate program. Subscribe to the PFP Podcast channel at Libsyn to find all the latest episodes or search “AICPA Personal Financial Planning” on your favorite podcast app.

Billions of dollars are lost each year due to fraudulent acts against older Americans. In this episode of the PFP Section podcast, Erin Scheithe with the Consumer Financial Protection Bureau (CFPB) gives you tips, tools, and resources to help you and your clients spot, prevent, and report elder financial exploitation. She covers the following topics:   Examples of scams Who is at risk and who are the abusers? How to spot, prevent, and report abuse Resources to help you help your clients Access resources related to this podcast: Note: If you’re using a podcast app that does not hyperlink to the resources, visit http://pfplanning.libsyn.com/ to access show notes with direct links. Find the CFPB resources that Erin mentions at gov/olderamericans. Access AICPA elder planning resources at aicpa.org/PFP. This episode is brought to you by the AICPA’s Personal Financial Planning Section, the premier provider of information, tools, advocacy and guidance for professionals who specialize in providing tax, estate, retirement, risk management and investment planning advice. Also, by the CPA/PFS credential program, which allows CPAs to demonstrate competence and confidence in providing these services to their clients. Visit us online at www.aicpa.org/pfp to join our community, gain access to valuable member-only benefits or learn about our PFP certificate program. Subscribe to the PFP Podcast channel at Libsyn to find all the latest episodes or search “AICPA Personal Financial Planning” on your favorite podcast app.

Neuroscience aficionado and financial planner Christine Moriarty has made it her life’s mission to connect psychology to financial planning. In this episode of the PFP Section podcast, Christine answers the following questions to support you to best serve your clients. Why does psychology matter to financial advisors today more than ever? What has been the impact of COVID-19 on client relationships? What are some of the trends that the financial planning profession needs to prepare for in the coming decades? What practical tips can you give to our listeners that they can implement in their practice now? Access resources related to this podcast: Note: If you’re using a podcast app that does not hyperlink to the resources, visit http://pfplanning.libsyn.com/ to access show notes with direct links. Register for Financial Independence: Rethinking Retirement on July 12th or 19th (includes free CPE for PFP/PFS members). Learn more to have skillful conversations in this podcast with Jean-Luc Bourdon, CPA/PFS. This episode is brought to you by the AICPA’s Personal Financial Planning Section, the premier provider of information, tools, advocacy and guidance for professionals who specialize in providing tax, estate, retirement, risk management and investment planning advice. Also, by the CPA/PFS credential program, which allows CPAs to demonstrate competence and confidence in providing these services to their clients. Visit us online at www.aicpa.org/pfp to join our community, gain access to valuable member-only benefits or learn about our PFP certificate program. Subscribe to the PFP Podcast channel at Libsyn to find all the latest episodes or search “AICPA Personal Financial Planning” on your favorite podcast app.