Estate Planning Seminar

For Planned Giving Professionals

Presented by HopeWest in collaboration with
Western Colorado Community Foundation and
Colorado West Estate Planning Council

Thank You Sponsors!

Alpine Bank Wealth Management

Dufford Waldeck Law

DWC CPAs and Advisors

The Madsen-Swanson Group at Merrill Lynch

Palmer, Brady & Galloway, PLLC CPA’s & Advisors

Two Rivers Trust Co.

Hoskin, Farina & Kampf, P.C.

Baird Private Wealth Management

Colorado Mesa University Foundation

Colorado West Estate Planning Council

Williams, Turner & Holmes, P.C.

Western Colorado Community Foundation

October 26, 2023
Colorado Mesa University, Meyer Ballroom
CE Credits Available


Daniel Smith, Cannon Financial Institute

Daniel Smith is committed to providing outstanding service and reliable advice to all his clients. He specializes in estate planning and helps families achieve their financial goals and leave a lasting legacy.

Having worked in the Wealth Management and Trust business and with Cannon Financial Institute, Daniel has extensive real-world experience and best practices from interacting with some of the nation’s top financial advisors and wealthy individuals. He is an expert in integrating sales and relationship management with the complexities of estate planning, estate taxation, charitable giving, and investment management issues of High Net Worth and Ultra High Net Worth clients.


$250 for 1st attendee
$200 for 2nd attendee from the same firm

10% discount for current members of Colorado West Estate Planning Council


8:00-8:30 Breakfast

8:30-8:40 Welcome

8:40-9:40 Session 1

Fiduciary Income Tax Primer

The Fiduciary Income Tax Trainer. Income tax’s critical role in our day-to-day investing is front and center, yet the concepts often get muddled for many in the context of an irrevocable trust. In this session, we remind ourselves of the key issues that drive fiduciary income taxation and how we can best represent the client and communicate those concepts to the client for optimal results.

• Trusts and Estates as taxpayers
• How to determine whether the entity or beneficiary pays the tax
• K-1’s, DNI, allocating the responsibility and tax trapping
• Communication with beneficiaries regarding complex issues and common misunderstandings

9:50 – 10:50 Session 2

New SECURE Regulations for Coordinating IRAs with Estate Plans

This program explores the common problem of having an IRA or other retirement plan as a significant asset of the client’s net worth and how to deal with the situation during life and death. The requirements, options, taxation, and penalties.

The best decisions are made when all the options are known. Help clients think through this complex area with some simple conversation models, like individuals as beneficiaries, trusts as beneficiaries, See-Through, Conduit, and Accumulation trusts, and required distributions.

11:00 – 12:00 Session 3

Structuring and Managing ILITs Effectively

This program explores the complex issues in ILIT administration. We will examine administrative, tax, fiduciary, and investment issues. ILITs often do not link well with standard practices and compensation. This discussion will highlight common problem areas in administration to help streamline administration and turn a loss leader into a profit center. Included are: Administrative standard practice, tax issues, how to address and take advantage of them, investment issues and how to properly document the files, and addressing policies and procedures properly.

12:00 – 12:45 Lunch

1:00 – 2:00 Session 4

Special Needs Trusts

Protecting those who cannot protect themselves is one of the most valuable aspects of planning. Sometimes the issues are known and in others, the circumstances develop because of an event or accident. Regardless, ensuring appropriate financial management is provided is crucial concerning investments and expenditures. We will discuss; First-party vs. third-party trusts, Examples of appropriate expenditures, Clawback rules, and Decanting and modification of existing arrangements.

2:10 – 3:10 Session 5

Elder Law – Social Security & Medicare Primer

With the US population aging, with 10,000 people turning 65 every day, and with retirement security being the number one concern of the average American; understanding and being conversationally competent on the topics of Social Security and Medicare is important as well as what resources that may be available to clients seeking help with these important topics.
• Eligibility
• Age to begin
• Benefit Structure
• Alternatives

3:20 – 3:30 Snack Break

3:40 – 4:40 Session 6

Generation Skipping Without Skipping a Generation

In this session, we will delve into the Generation-Skipping Transfer Tax. We will address common misunderstandings as well as opportunities created by the tax laws. Our topics of discussion will include identifying crucial information upon account acceptance, communicating with clients and beneficiaries, determining which accounts are affected, and highlighting the benefits of Dynasty Trusts to existing beneficiaries. We will also cover the proper administration of these trusts and ways to help our clients take full advantage of the tax law. Included: Preparing for another period of uncertainty in the tax law, Clawback rules, the Gallo exemption rules, grandfathering, allocation of exemptions, and splitting of trusts.

Questions? Call Katie at 970-683-4914.


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