Effects of Tax Cuts and Jobs Act and a Covid-19 update

FROM YOUR FRIENDS AT FINANCIAL DESIGNS LTD.

VOLUME V | Q1 2020

On the Move

Shawn Tidwell has accepted a position with a boutique life insurance carrier specializing in Private Placement Life Insurance and will be leaving Financial Designs Ltd. We look forward to maintaining a strong relationship with him. He expects to reach out to you soon to talk more about his firm and their offerings.

Please be assured that the FDL Team will continue to serve the clients and advisors that Shawn has worked with while at Financial Designs. We wish him every success in his new role and thank him for the many contributions he has made over the years.

Covid-19 Update

In response to the Coronavirus (COVID-19) pandemic please know that all Financial Designs Ltd. employees are now working from home and are 100% prepared to help with any of your service or client needs during this difficult period.

Our team will continue to have secure access to all of our systems and will remain fully committed to your insurance needs. We are here to help in any way we can, and we know that your insurance coverages are critical at this time.

Should you have any questions or concerns, please do not hesitate to contact us via phone or email. We appreciate your confidence as we take the necessary steps to protect our clients and employees.

Our best wishes for you and your loved ones to stay healthy during this stressful time.

-The Team at Financial Designs Ltd.

Heckerling 2020 Highlights

The 54th Annual Heckerling Institute on Estate Planning focused on the ongoing effects of the Tax Cuts and Jobs Act (“TCJA”), including:

legal and regulatory developments concerning life insurance
benefits and burdens of grantor and non-grantor trust status
planning considerations for migratory clients
state income taxation
implications of the SECURE Act
planning for the generation-skipping transfer (“GST”) tax on nonexempt trusts.

The Institute covered a variety of creative and contemporary techniques tailored to meet the needs of a broad range of clients. Given the complexity of IRS rules and an ever-changing legislative landscape, clients and advisors should build flexibility into client planning where possible. All legacy plans will continue to require diligent monitoring and review to ensure that the plan will continue to accomplish the client’s goals under current and evolving law...

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