SIOUX FALLS ESTATE PLANNING COUNCIL

Please join us on Friday, September 19th for this joint breakfast event with the State Bar of South Dakota.

This event will be offered in person and as a live webinar. This event will be held at the Minnehaha Country Club and breakfast will be served beginning at 8:15 am.

Paul Hood will present on three different topics:

Anatomy of a Business Valuation Report and Common Errors Therein

In this presentation, Paul will take you through a real business valuation report supplied by Chris Mercer of Mercer Capital as well as some common business appraiser errors. Along the way, he’ll carefully examine:

• The appraiser engagement letter (where many appraisal engagements go wrong).
• The report transmittal letter (which addresses a panoply of limiting issues).
• The critical assignment definition (many appraisal reports don’t value the right thing).
• Economic outlook (what’s critical to include-this section often contains extraneous information).
• Industry outlook.
• Conclusion of value.
• Commonly seen errors in business valuation reports.

And much, much more!!!!

The Human Side of Estate Planning/Psychology of Estate Planning

In this session, Paul will discuss the psychological factors at play for both clients/donors and estate planners/development professionals alike. He will introduce three psychological phenomena (transference, countertransference and triangles) at work in every day estate/charitable planning encounters. He will discuss death anxiety, mortality salience (fear of talking about death) and the 12 distinct fears that clients/donors can have about estate/charitable planning. He will introduce motivational interviewing and appreciative inquiry, which are tools that can assist clients/donors in the planning process.

Paul will cover include the following issues:

• Have you ever wondered why people act the way they do in estate planning?
• Did you know that clients can have as many as 12 distinct fears in estate planning?
• Do you know the obstacles that stand in the path of a “good estate planning result???”
• Have you ever wondered what clients/donors go through psychologically in estate/charitable planning?
• Did you know that estate/charitable planners aren?t exempt from the psychological ramifications of discussing death and bring their own baggage into the planning process?
• Have you been looking for tools and resources that will help you understand clients/donors better and help them conclude their planning?

And a lot more!!!

Yours, Mine & Ours: Estate Planning for People in Blended or Step Families

In this session, Paul will address selected topics important for advising today’s complex modern family. Since the 2010 United States Census, and repeated in the 2020 United States Census, the so-called “blended family” or “step-family”-think “relationships squared”-is the most common form of family in the United States: Ozzie & Harriet, The Waltons and Leave it to Beaver have given way to The Brady Bunch. Paul’s overarching theme (and admonition to planners) is that traditional, commonly used estate and financial planning strategies that we apply to one-relationship families can be downright ill-advised and dangerous when used with blended or step-family clients.

Paul will cover the following issues:

• Clarifying the blended family makeup.
• Methods of Representation-Choose Wisely and Defensively.
• Preparing for Initial Meeting.
• Conflicts of Interest and Ethical Issues.
• Two Actual Cases on Modern Family Issues.
• Funeral Planning and Related Issues.
• Financial Powers of Attorney Issues.
• Health Care Powers of Attorney and Living Wills Issues.
• Marriage Contracts and Property Agreements.
• Closely-Held Family Business Issues in Blended Families.
• Estate Equalization in Blended Families in the World of Portability.
• Joint Tenancies and Severing Joint Tenancies.
• Gift Splitting in the Context of Blended Family Couples.
• Life Insurance and Life Insurance Trusts.
• Federal Estate Tax Apportionment.
• Tangible Personal Property Issues.

Don’t miss it!!!

American Bankers Association (ABA) Professional Certifications are pending approval and will be posted when approved.

About the Speaker:

L. Paul Hood, Jr., J.D., LL.M.

Paul is an author, speaker and consultant on tax, estate and charitable planning. A native of Louisiana (and a double LSU Tiger), Paul Hood obtained his undergraduate and law degrees from Louisiana State University and an LL.M. in taxation from Georgetown University Law Center before settling down to practice tax and estate planning law in the New Orleans area. Paul also spent almost six years running the planned giving operations for two higher ed state institution foundations.

Paul has taught at the University of New Orleans, Northeastern University, The University of Toledo College of Law and Ohio Northern University Pettit College of Law. Paul has authored or co-authored nine books and over 200 professional articles on estate, charitable and tax planning and business valuation. Paul’s ninth book, Yours, Mine & Ours: Estate Planning for People in Blended or Step Families, is now out. His website is www.paulhoodservices.com.

A “recovering tax lawyer,” Paul’s often  quoted in publications that include Forbes magazine, USA TODAY, and The Wall Street Journal, and he’s been a frequent contributor to Leimberg Information Services, Inc. since its inception, Paul is a highly sought-after speaker and consultant because of his innate ability to see through the complexity and explain difficult and even boring subjects in understandable and entertaining language with his insightful and biting sense of humor, and he minces no words in doing so. Along the way, Paul’s been a father, husband, uncle, Godfather, lawyer, coach, mentor, trustee, member, director, president, partner, trust protector, director of planned giving, expert witness, agent, professor, judge, juror, respondent, and a defendant, and he uses his experience in these myriad roles to guide others.