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ITM TwentyFirst University focuses on life insurance education and provides TOLI trustees, attorneys, advisors, regulators and others with practical guidance to use in their practice. The course topics include real life case studies that can be applied to day to day situations. Subject matter is designed to help ensure that advisors can provide insureds and beneficiaries with exceptional support related to life insurance. From time to time, we also offer courses related to other unique assets or topics of interest to our clients. Our faculty consists of sought after presenters who are experts in their related fields. Attendees are eligible for free Continuing Education (CE) credits. See specific courses for applicable CE listings.


Faculty Bios

Recent Webinars

Learning When, Why and How to Do a Life Settlement

Jon B. Mendelsohn, Co-founder and Chief Executive Officer, Ashar Group

Each year over $100 Billion in life insurance death benefit is surrendered or allowed to lapse by seniors age 65 or older.  Can you imagine the potential liability to advisors that omit this discussion with their clients? This significant asset could be used by many older individuals to help fund general retirement living or even long term care expenses.  This session is designed to provide advisors, especially those acting as trustees in the personal trust space, the opportunity to gain a practical understanding of the life settlement process.  Learn why and when you would sell a life insurance policy and how the actual process works.  Our presenter, a nationally known life settlement market executive will give you the insight you need to allow you to maximize the value of a life insurance policy.  Jon will show you how to provide your clients a valuable service and if you are a trustee of a life insurance policy, will show you how you can live up to your fiduciary responsibilities.   This practical session is one you should not miss.

Session Handbook: Download

The Trump Effect on Estate Planning

Joshua E. Husbands, Partner, Holland & Knight

Changes are occurring quickly in the Trump administration and they will have a major influence on estate and financial planning for many of your clients, especially high net worth individuals. This session, featuring Joshua Husbands, a nationally known estate planning attorney and partner with Holland & Knight, will provide an overview of the changes that could occur, and the strategies that you and your clients should employ to take advantage of them. This session is very timely – the mid-February session will provide vital insight you and your clients can take advantage of this year.  Find out how change brings opportunity.

Session Handbook: Download

A Special, Interactive, Client Only Session – Developing a Reg 9 Review System for Life Insurance

Michael Brohawn CFP®, CLU®, Chief Marketing Officer, ITM TwentyFirst and ITM TwentyFirst Staff

As required by OCC regulation 12 CFR 9.6(c), banks that handle fiduciary accounts are required to annually conduct a review of those assets “to evaluate whether they are appropriate, individually and collectively, for the account.” These so-called “Reg 9” reviews are a cumbersome process for assets in general and life insurance in particular. Most Trust Owned Life Insurance (TOLI) Trustees struggle with putting a process in place to cost efficiently review life insurance and adhere to the rule and the spirit of the law.  This session will focus on the requirements of the regulation and introduce a new proprietary system currently being developed for ITM TwentyFirst clients. Registration will be limited to clients of ITM TwentyFirst and attendance will be limited as well as this will be an interactive session asking for your input.  This is a session for those looking for a better way to deal with Reg 9 reviews.

Session Handbook: Download

Knowing WHY, WHEN And HOW To Move ILIT Accounts Out of Your Portfolio

Leon Wessels, New Business & Strategic Relationships and Michael Brohawn CFP®, CLU®, Chief Marketing Officer, ITM TwentyFirst

Many Trust Owned Life Insurance (TOLI) trustees would like to relieve themselves of at least some of the TOLI trusts (ILITs) in their portfolio. The reasons are many – some clients are troublesome, some ILITs represents more than an acceptable risk and many are simply unwanted because there is no real business relationship with the grantor, only a liability to the trustee.  This session will discuss the various issues that might cause a trustee to want to divest of these assets and provide the various methods that will allow the trustee to do so in an efficient and safe manner.  This is a must see session, especially for those trustees looking to make changes in 2017.

Session Handbook: Download

Pricing Unique Assets

Brad Davidson, Managing Partner, Unique Asset Partners, LLC

How should “unique assets” (client investments originating on Main Street, not Wall Street) be valued in compliance with current regulatory requirements?  Pricing unique assets properly can be a vexing challenge. In this presentation a leading valuation specialist will explain in non-technical terms who should (and how to) value the seven most widely-held unique asset types (real estate; closely-held businesses; life insurance; minerals, oil and gas; loans and notes; intellectual property; and collectibles).  For those who work in this space, this session will provide a wealth of clear information.

Session Handbook:Download

What to Do With An Unwanted Life Insurance Policy

Michael Brohawn, CFP, CLU Chief Marketing Officer and Aaron Hanson, CLU, ITM TwentyFirst

With the estate tax law changes of the last few years, the need for a life insurance policy held in trust has diminished for some – or at least that is what many TOLI trustee clients believe. TOLI trustees must always manage the asset to maximize the benefit to the beneficiary or subject themselves to fiduciary liability. How to do that will be the focus of this session, as we will explore prudent alternatives and develop a process around analyzing options on an asset that could be worth millions. We will provide actual real-life case examples in a session workbook that attendees can use for future reference. Life insurance policy advisors and trustees attending this session will be provided with vital information designed to increase client service and minimize their liability.

Session Handbook:Download

Discretionary Distributions

Randy Pople, CFP, AEP, Pople Financial Consulting

The majority of private trusts contain language granting discretionary powers to the trustee. The administration of these trusts can pose challenges to even the most seasoned trust administrator. Mistakes in the exercise of discretion can result in damaged relationships, reputational risk, and even legal actions. This session on Discretionary Distributions will cover the responsibilities of the trustees in the administration of discretionary trusts with the backdrop of the uniform trust code.

Session Handbook: Download

Session Presentation: Download

How TOLI Trustees Can Avoid Getting Sued

Michael Brohawn, CFP, CLU Chief Marketing Officer and Aaron Hanson, CLU, ITM TwentyFirst

Most Trust-Owned Life Insurance (TOLI) trustees are not aware of the many ways that they can be sued. Life insurance is a peculiar asset, and policy management and the administration of a TOLI trust often leave the TOLI trustee open for litigation on many fronts. This session will review the most prevalent litigious situations, show actual cases where trustees could have been liable for hundreds of thousands of dollars of damages, and provide the trustee with solutions to mitigate their liability. A session workbook will be provided to attendees outlining actual case studies and solutions. For the TOLI trustee hoping to avoid his or her day in court, this session is a must.

Session Handbook: Download

Insurance For Trust Real Estate Assets, All You Need To Know

Judie Altman, Vice President and Senior Portfolio Manager, PDS Companies

Many clients put their real estate assets into their trusts. The trustee is responsible for validating the real estate is insured properly for not only property coverage, but also liability coverage. If the real estate asset is in an area that experiences floods, hurricanes, or earthquakes, for example, is there adequate coverage for the property? Is there worker’s compensation insurance for the caregivers and others working in the home and employed by the trust? This webinar will discuss these issues and many others that affect the insurance we place on the real estate assets that we manage for our trust clients.

Session Handbook Download

Session PowerPoint Presentation Download

Special Session: The New DOL Fiduciary Regulations

Alexander P. Ryan,  Of Counsel, Groom Law Group

Earlier this year in a highly attended and well received session, Alexander P. Ryan, of the Groom Law Group provided us with a review of the proposed DOL Fiduciary Regulations. Now, Mr. Ryan, an expert in fiduciary matters who deals with ERISA plan sponsors, administrators, trustees and various financial service providers, is back to give his review of the actual regulation language, giving you the opportunity to gain firsthand knowledge from an authority on this “hot button” topic.

Session Handbook: Download

10 Questions Every Trustee or Advisor Should Ask Before a Client Purchases or Continues a Life Insurance Policy

Barry D. Flagg, CFP, CLU, ChFC, GFS, Veralytic, Inc.

This presentation will provide Trustees and Advisor’s with practical questions to ask before the purchase or continuation of any life insurance product in order to reconcile the difference between prevailing life insurance industry practices designed to sell a policy versus proven Prudent Investor principles designed to manage life insurance as an asset pursuant to the client’s best interests. It is provided by an industry expert and one of the architects of the Best Practices for Life Insurance Stewards.

Download Handbook: ITM21 10 Questions Webinar Handbook

Webinar Supplement: 10Q Published Bloomberg BNA

How to Make Sure Your TOLI Policies Are Competitive

Michael Brohawn, CFP®, CLU®, Chief Marketing Officer, ITM TwentyFirstr

Many TOLI Trustees struggle to understand the concept of life insurance policy competitiveness, one of their responsibilities.  This session will show the steps that need to be put in place to create a program to document the competiveness of policies and how to deal with noncompetitive policies, including proper documentation to mitigate Trustee liability.  We will also provide actual case examples to bring the process to life.

Session Handbook

Beyond Ratings: An Alternative Approach to Analyzing Life Insurance Financial Strength

David Paul, Principal, ALIRT Insurance Research

Trustees and advisors need to better understand the financial strength of life insurance carriers in this low interest rate environment we are in.  The market crash of 2007 and the quick credit worthiness drop of AIG pointed out this lesson to all.  Past life insurance debacles, like Executive Life and the more current struggles of Phoenix Life and Conseco have shined a light on carrier financials strength as an area that Trustees and Advisor’s should be aware of.  This session will provide the professional with a much greater understanding of gauging carrier financial strength and provide an insight inside carrier financials that, to this point, probably was not seen or understood.

Beyond Ratings Handbook

 

Pitfalls of Operations/Management of Specialty Asset

Kip West – Chief Operations Officer, PDS Services

Unlike some asset classes, specialty assets can be a major headache for the operations and administrative staff of any fiduciary organization who does not have a separate special assets division or outside service provider. This webinar explores the pitfalls and handling of unique situations the assets create including revenue/expense processing, valuations, tracking timed events and ensuring all the boxes are checking according to your compliance requirements.

Pitfalls CE Application
Pitfalls Handbook
Pitfalls PowerPoint

Developing a Compliant and Efficient Trust (ILIT) Administration Process

Jason Hassman, Client Relationship Manager, ITM TwentyFirst

Putting an efficient and compliant process around the administration of personal trusts is not an easy task.  But with logical procedures to follow the task becomes much easier.  This session will provide the Trustee or Advisor with the actual process developed and proven for personal trusts, with an emphasis on life insurance trusts, one of the more complex trusts to administer.  The session, delivered by a specialist in personal trusts, will provide the framework for success for those professionals working in this market.

Session Handbook: Developing a Compliant and Efficient Trust (ILIT) Administration Process Handbook

Buying and Selling Specialty Assets

John Rowland, Portfolio Manager, PDS Services

This webinar will explore when is the right time and method to sell a specialty asset and what types of special assets to buy to increase cash flow.  It will also discuss how to prudently invest the trust property to make it productive for the beneficiaries and when  an asset becomes a cash liability rather than a viable money making asset for the trust.

 

Self-Directed IRAs:  Proceed with Caution and Confidence

Jean Meyer, President, Mainstar Trust – Formally: First Trust Company of Onaga (FTCO)

Self-directed IRA’s have become one of the nation’s retirement essentials. Understanding how to administer them is a hot topic among Advisor’s and Trustee’s.  Managing and administering this asset can be tricky, but with the information in this session you will be able to move ahead with confidence.  This is a session many have asked for and we are lucky to have an expert in Self-Directed IRA’s leading it.

Course Handbook: Self-Directed IRAs Handbook – Mainstar Trust

Pre-acceptance Process for Unique and Hard to Value Assets

Richard Jacobs, President, PDS Services

This session, focused on the pre-acceptance process for Hard to Value Assets, will provide a definition of “pre-acceptance” in the fiduciary context, a survey of the rationale behind the process, a summary of a standard approach and an overview of idiosyncrasies’ for pre-acceptance for each asset class in the Unique and Hard to Value Asset category: real estate, notes/mortgages, minerals, and closely held businesses.

Pre-acceptance Process for Unique and Hard to Value Assets Handbook

Pre-acceptance PowerPoint

DOL Proposed Fiduciary Regulation

Alexander P. Ryan,  Of Counsel, Groom Law Firm
Thursday, February 11, 2016 at 2pm EST
1 Hour CE credit for CFP and CTFA (Financial) / This session qualifies for One(1) FIRMA CE credit

The new Department of Labor’s long-awaited re-proposed regulation on the definition of “fiduciary”  has grabbed the headlines in industry publications and even the Wall Street Journal.  The regulation re-defined who is a “fiduciary” by reason of providing investment advice to a retirement plan or an IRA.  This session, provided by a leading ERISA and fiduciary law expert, will answer your questions and provide guidance on this timely subject.

DOL Fiduciary Handbook

Using Sophisticated Techniques to Manage Life Insurance Policies

Michael Brohawn, CFP®, CLU®, Chief Marketing Officer, ITM TwentyFirst

With millions of dollars of life insurance policies being surrendered annually in TOLI trusts, it is important that you understand the options available for your clients.  In fact, as a fiduciary you may be liable if you do not.  Join a leading expert of the life settlement marketplace as he explains the industry in easy to understand terms.  The session will review the state of the marketplace today and focus on the best practices that should be employed to maximize the benefits to your client, the beneficiary.  Real life examples will be employed to highlight the life settlement process. And you will learn which clients and policies might be a candidate for a life settlement, how the process works, and how to deliver the best results for your client.  If you are managing life insurance policies, this is a session you need to attend.

Session Handbook:Using Sophisticated Techniques to Manage Life Insurance Policies Handbook

Life Settlement Primer, Creating Liquidity from a Non-Liquid Asset

Jon Mendelsohn, Ashar Group, LLC

With millions of dollars of life insurance policies being surrendered annually in TOLI trusts, it is important that you understand the options available for your clients.  In fact, as a fiduciary you may be liable if you do not.  Join a leading expert of the life settlement marketplace as he explains the industry in easy to understand terms.  The session will review the state of the marketplace today and focus on the best practices that should be employed to maximize the benefits to your client, the beneficiary.  Real life examples will be employed to highlight the life settlement process. And you will learn which clients and policies might be a candidate for a life settlement, how the process works, and how to deliver the best results for your client.  If you are managing life insurance policies, this is a session you need to attend.

Fiduciary Responsibilities vis-à-vis Unique Assets

Brad Davidson,Spardata/Unique Assets
Don Moore, Bearmoor, LLC

“Unique assets” such as real estate, mineral oil and gas interests, privately owned businesses, loans and notes, life insurance, intangible assets, collectibles, farms, ranches and other investments pose challenges to fiduciaries asked to hold them.  Because unique asset owners tend to be wealthy and own plenty of traditional as well as unique assets, institutions hate saying “no” and end up accepting them.   This course considers the fiduciary’s responsibilities to value, administer and/or manage unique assets in every type of account (i.e. custody accounts, IRAs, investment management accounts, revocable trust accounts, directed trust accounts, etc.)  If your institution holds unique assets (or is considering it), you will want to attend this session

Download Handbook Here: Fiduciary Responsibilities vis-à-vis Unique Assets

A Close Look at the Current Universal Life Cost Increase

Michael Brohawn, CFP, CLU, Chief Marketing Officer ITM TwentyFirst

While it seems the cost of life insurance should be going down since we are living longer, three carriers have announced their costs are going up.  In some instances the premium needed to carry a policy to maturity has more than doubled in just the last few months.  Find out why this is and whether other carriers may follow suit.  A case study will be reviewed that will look inside a policy affected, analyze all options and to show the steps needed to develop prudent policy management decisions.  If you are a TOLI Trustee or just an advisor on life insurance, this is an important session for you.

Download Presentation Handbook: Handbook A Close Look at the Current Universal Life Cost Increase

Using the Intentionally Defective Grantor Trust (IDGT)

Randy Pople, CFP, AEP, Pople Financial Consulting

The ability for a single trust document to contain language causing a transfer to be complete for estate/gift tax purposes, but incomplete for income tax purposes creates planning opportunities that need to be explored. This session did just that, providing complete background to provide a foundation of information, as well as specific planning applications

Download Handbook here: Using the Intentionally Defective Grantor Trust (IDGT)

Leader Metrics

Don Trone, GFS, 3ethos

Based on a book by the same name, this session provided the advisor with a review of the fiduciary movement and the rise of ethotic leadership. This is an area of much discussion with the discussion that has been occurring in the marketplace around the fiduciary standard. This session provided a history of fiduciary evolution and where we are at this point in time. It provided observations on fiduciary responsibilities and leadership and then related the discussion to the practical purpose in in the marketplace.

Download Handbook Here: Handout Leader Metrics

Ten Mistakes TOLI Trustees Make, Part 2

Michael Brohawn, CFP, CLU, Chief Marketing Officer, ITM TwentyFirst
Jason Hassman, ITM TwentyFirst

The second part in this series continued the robust discussion and covered the second set of mistakes trustees make: Failing to Administer the Trust and Policy Correctly, Failing to Analyze Policy Options When Trust Goals Change, Failing to Realize the Real Client is the Beneficiary and Not the Grantor, Failing to Adequately Understand Policy Replacements, Failing to Have Adequate Specialized Staff and Resources on Staff or Focused on TOLI.

Download Handbook Here: Ten Mistakes TOLI Trustees Make, Part 2

Ten Mistakes TOLI Trustees Make, Part 1

Michael Brohawn, CFP, CLU, Chief Marketing Officer, ITM TwentyFirst
Jason Hassman, ITM TwentyFirst

Trust Owned Life Insurance (TOLI) Trustees face a daunting task. First, they have to understand their roles and fiduciary responsibilities. Then they have to implement an administration program with tax and legal implications. In addition, they have to manage an asset, life insurance that is one of the hardest financial assets to manage. And they must do this while communicating adequately with both grantors and beneficiaries, and simultaneously mitigating liability. It is not easy to do, but there are a number of areas where trustees often err and managing these areas better will allow the trustee to provide better service and reduce risk. This series provided the TOLI trustee with a robust discussion and real life examples to help them provide better client services. This session covered the first 5 Mistakes: Failing to Understand Responsibilities as a Trustee, Failing to Price Services Correctly, Failing to Understand the Trust Document and Policy When Taking in a Trust, Failing to Adequately Document a Prudent Process and Failing to Adequately Communicate with Both grantor and Beneficiary.

Download Handbook Here: Ten Mistakes TOLI Trustees Make, Part 1

Suitability vs. Financial Standard

Randy Pople, CFP, AEP, Pople Financial Consulting

The gap between these two standards (Suitability vs Fiduciary) is not insignificant.  The laws and regulations that govern the broker/dealer and the RIA draw a clear distinction – primarily in whose interest comes first.  Interestingly a recent study discovered that the client is unaware of these two standards and how it effects them.  This session will provided the advisor with a robust discussion of the differences of the two standards and how this affects their industry.

Download Handbook Here: Suitability vs. Financial Standard

Illiquid Asset Survey – Findings and Recommendations

Brad Davidson,Spardata/Unique Assets
January 29, 2015

In 2012 the OCC published a Unique and Hard-to-Value Assets Handbook.  As a result many banks were taking a closer look at how they handled their customers’ unique assets (i.e. real estate, mineral interests, closely-held businesses, insurance policies, collectibles etc.); and wanted to know how their practices compare to their trust industry peers.  A survey of 47 institutions ranging in size from $4 million to $151 billion in total trust assets was performed. This presentation by SPARDATA Principal Brad Davidson highlighted the Illiquid Asset Survey’s most important findings, and recommended several unique asset “best practices” of interest to those wishing to better serve their customers’ needs while increasing fee income and shrinking risk exposure. This was one of the first ever surveys of these asset classes and provided the advisor working with these assets with a wide array of information.

Download Handbook Here: Illiquid Asset Survey – Findings and Recommendations

Generation Skipping Transfer Tax

Randy Pople, CFP, AEP, Pople Financial Consulting

The GST tax is designed to ensure that property is subject to U.S. Transfer Tax at each generational level. Understanding the GST tax and allocation can provide the planner working with wealthy clients the ability to greatly increase wealth passed down generation to generation. This session was designed to equip the planner with the knowledge to do just that.

Download Handbook Here: Handout Generation Skipping Transfer Tax

The Brower Quadrant

Lee Brower

Financial advisors today need to take a more holistic approach to helping the wealthy manage their assets. That approach covers more than just money or other financial assets. It includes all of the assets of an individual or family and includes real core assets such as health, values, education, family wisdom, as well as other assets not normally addressed.   This session was based on a book called The Brower Quadrant, by Lee Brower which lays out a new way to approach family wealth, and not just for the super-rich. The concepts outlined in this course help today’s advisor address all of the facets of true wealth for their clients.

Download Handbook Here: Brower Quadrant: a new way to approach family wealth

Marital Deduction Planning

Randy Pople, CFP, AEP, Pople Financial Consulting

For those involved in the planning of estates and financial affairs, Marital Deduction Planning can create significant planning opportunities. This session was designed to provide the practitioner with an overview of the opportunities and process for marital deduction planning and provide the practitioner with real world knowledge to help them in their day to day practice. The session covered transfers during lifetime and at death. It featured information on non-citizen and same sex spouses, both important topics in today’s society. It also featured a short section on the Generation Skipping Transfer (GST) Tax Exemption Allocation.

Download Handbook Here: Handout Marital Deduction Planning

What Every TOLI Trustee Needs to Know About Life Insurance Underwriting

Michael Brohawn, CFP®, CLU®, Chief Marketing Officer, ITM TwentyFirst

Life insurance pricing is determined by many factors, none more important than the underwriting classification given to the insured. Many Trust Owned Life Insurance (TOLI) trustees have little transparency into the life insurance underwriting process and the effect that it has on life insurance policy pricing. This webinar was designed to provide a background on the underwriting process and provide the trustee with the information need to ensure that the TOLI asset provides maximum value for the beneficiaries.

Download Handbook Here: Handout What Every TOLI Trustee Needs to Know About Life Insurance Underwriting

Dealing with Non-Responsive Grantors

Michael Brohawn, CFP, CLU, Chief Marketing Officer, ITM TwentyFirst
Jason Hassman,
ITM TwentyFirst

Often many Trust Owned Life Insurance (TOLI) trustees struggle with the issues surrounding policies held in trust where the grantor is now non-responsive. Typically, this occurs when a life changing event like a divorce occurs or when the grantor has significant financial setback or even mental issues. Even if the grantor is not responsive the trustee has the responsibility to manage the trust asset for maximum benefit of the beneficiaries. Dealing with these situations and maximizing beneficiary value while mitigating liability was the focus of this seminar.

Download Handbook Here: Handout Dealing with Non-Responsive Grantors in an ILIT