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FPA DFW Chapter Meeting
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3/20/2018
When: March 20
11:00 AM - 1:45 PM
Where: Crowne Plaza Hotel
14315 Midway Road
2nd Floor - Trinity Ballroom
Addison 75001
United States
Contact: Melisa Hall
972-747-0407

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FPA DFW Chapter Meeting

 

 ONLINE REGISTRATION IS NOW CLOSED - WE WILL GLADLY TAKE AT THE DOOR REGISTRATIONS

 

 

 

AGENDA

10:30 AM Check in for Chapter Meeting
11:00 - 2:00 Chapter Meeting & Lunch
2:00 Chapter Meeting Concludes

 

 

CHAPTER MEETING DETAILS
 

 

10:30 - 11:00 - CHECK IN / REGISTRATION

 

11:00 AM - WELCOME, ANNOUNCEMENTS, SPONSOR SPOTLIGHT: WESTWOOD FUNDS

 


11:25 AM - The SmartIRA - A Trusteed IRA for Financial Advisors

 

Charles 'Chuck' Sharpe

Sharpe & Associates

 

1 CFP, CPA, CIMA CE

 

 

A Trusteed IRA for some clients provide a simple financial planning tool to deal with distributions and asset protection for their IRA beneficiaries.  It is a solution not the solution.  The SmartIRA™ is a Trusteed IRA for financial advisors giving their clients an option previously only offered by large national brokerage firms, mutual fund companies and large banks.

 

An Individual Retirement Account (IRA) may take one of two distinct legal forms: a Custodial IRA (IRC §408(h)) or a Trusteed IRA (IRC§408(a)). While both forms receive identical tax treatment, the Trusteed IRA combines the asset protection advantages of a trust with the ease and tax-deferral advantages of the IRA to create an effective, multifaceted estate planning instrument. With this instrument, the owner creates a trust within the IRA to serve as the beneficiary of the IRA assets upon the owner’s death and directs a trustee to distribute assets in strict accordance with the owner’s guidelines and IRA Required Minimum Distributions rules. The IRA owner appoints the financial advisor while establishing a Trusteed IRA for financial advisors (SmartIRA™).  The beneficiary, after the IRA owners passing, has the power to change the investment advisor and corporate trustee at any time.  The Trusteed IRA is becoming increasingly common as the market becomes more aware of its existence and advantages.  This instrument is currently offered many large custodians and trustees, including Merrill Lynch, Vanguard, Northern Trust, and USAA. Other custodians may also provide the Trusteed IRA when teamed with a non-custodial trust services provider.  Furthermore, because the Trusteed IRA complies with Federal tax laws under IRS Code 408(a) and Treasury Regulation 1.401(a)(9)-4, it can be created in any state around the country. However, it is important to note that the trust still must comply with the specific trust laws in the state where it was created. Because each state has different legislative, reporting, and duration provisions, special care should be taken in selecting the trust’s situs to ensure favorable trust laws given your client’s circumstances.  IRA owners wanting to retain their financial advisor after their passing along with other benefits of a Trusteed IRA look for custodian neutral Trusteed IRAs such as the SmartIRA™.

 

 

Chuck Sharpe established Sharpe & Associates, PLLC in 2003 after six years in the Personal Financial Counseling group at Ernst & Young. During his time with Ernst & Young, he focused on consulting high net worth individuals, entrepreneurs, and corporate executives on diverse estate planning and assets protection issues, ranging from simple wills and trusts to sophisticated, multi-entity transfer planning. Chuck combines his legal experience and financial planning exposure to provide clients with knowledgeable and innovative approaches to estate planningasset protection, and wealth transfer planning.  In 2009, he co-founded Wealth Advisors Trust Company along with other colleagues from Ernst & Young.  In 2012, Chuck partnered with Justin Blumoff to create the regional arm of the firm, Sharpe Blumoff, to better fulfill the legal needs of clients outside of the North Texas region.  Chuck is Board Certified in Estate Planning and Probate by the Texas Board of Legal Specialization and is a regular presenter to the financial planning sector regarding estate planning and the coordination with financial plans. He is a graduate of Texas Christian University (1992) and the University of Oklahoma College of Law (1997). Chuck is a member of the American Bar Association and Dallas Bar Association. He was named a 2009 and 2010 Texas Monthly Five Star Wealth Manager and is on the Board of Directors of the Dallas Estate Planning Council.

 

 

 

12:15 PM - BREAK & NETWORKING


12:30 PM - LUNCH

 

 

12:45 - SPONSOR SPOTLIGHT: DOOR

 

 

12:55 PM - How Transaction Costs are Eating American Homeownership

 

Alex Doubet

Founder & CEO, Door

1 CFP, CPA, CIMA CE

 

With today’s rising lifespans, we could be facing roughly 20 or more years in retirement, which is approximately 8,000 days. Once thought of this way, it becomes clearer that retirement is not an end, but rather a new, complex, and unknown phase of life, during which so much could happen. Transaction costs are eating the American Dream alive. Homeowners get a raw deal when they buy/sell a home because Realtors, title companies, and mortgage companies take such hefty fees and Americans think they make far more from their homes than they actually do because home sale proceeds tend to be the largest tranche of dollar an average person sees at any one point.  When taking into account taxes, maintenance, home improvements, mortgage interest, inflation, and all other costs associated with owning a home, the average American does not make nearly as much as they think on their home.  After attending this session you will have a greater understanding of the home buying process, including regulatory and customary fee requirements, as well as a better understanding of how real estate commissions work.  We will close with an analysis of the true economic returns on home ownership.

 

 

Alex Doubet is nationally recognized as an expert on innovation and disruption.  His company, Door has up-ended the $66B residential real estate market by realigning the outcomes with the customer experience - flat fees, functional specialization and non-commissioned licensed agents.  Door grew over 400% in 2017, and now operates in DFW, Austin, San Antonio & Houston.

 

 

 

 

 

 

 

 

1:45 PM - MEETING ADJOURNED

 

 


 

REGISTRATION FEES

 

 

$40    FPA Members


$55    Guests / Non-Members


$0      Corporate Partners

 

 

 

Thank you to our Platinum Sponsor Spotlights

 

       

  

 


 

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