Protecting Clients from Fraud, Incompetence and Scams

Acknowledgments Introduction: Every Accountant and Attorney Should Read This Book CHAPTER 1 Meltdown The Party's Over We All Know The Result Grim Statistics Retirement Plans and the IRS Summary CHAPTER 2 Everyone Needs a Family Office Why a Family Office? Retaining a Firm The Family Office Advantage Summary CHAPTER 3 Protect Your (Retirement) Assets The Fiduciary Duty Documenting a Process Plan Options / Simple IRA You Cannot Save Enough Another Option The 412 (e) (3) The Cash-Balance Plan Summary CHAPTER 4 How Much Did You Lose Last Year? Basic Financial Strategies Quiz Estate and Financial Planning Life Insurance Succession Planning The Buy-Sell Medical Insurance Asset Protection VEBA Other Post-Employment Benefits OPEB Cost VEBA Plan Benefits Taxes Retirement Legislative Changes HSA/HRA 412(e) Audits Shelters 6707A Captives Summary CHAPTER 5 Self-Defense Captive Insurance Basics Sharing Caveats Summary CHAPTER 6 Asset Protection Basics Asset Protection Necessity, Not Luxury Who Needs Asset Protection? Separating Ownership from Control What Is a Trust? How Does a Trust Work? How Is a Trust Used? Offshore Trusts Asset Protection FAQs Summary CHAPTER 7 Shifting the Risk Equation Insurance Maneuvers Key Employee Insurance LTCi for The Business Owner Life Insurance for Business Continuation Summary CHAPTER 8 Reevaluating Existing Insurance Evaluation or Audit Consultative Leverage Summary CHAPTER 9 What Financial Advisors [Forget] to Tell Their Clients Fiduciary Duty Summary CHAPTER 10 The Truth About Variable Annuities Variable Annuity Components Mortality and Expense Charges Guarantees Summary CHAPTER 11 What Life Insurance Agents [Forget[] to Tell Their Clients Questionable Aspirations Coverage Needs Estate Taxes The ILIT Summary CHAPTER 12 What You Must Know About Life Settlements Life Settlements Industry Regulation and Compliance Licensing and Reporting Compensation Compensation Abuse Suitability Best Execution and Due Diligence Fraud Prevention STOLI Evaluation and Processing Tax Treatment Case Studies Caveat Venditor Summary CHAPTER 13 What Health Insurance Agents [Forget] to Tell Their Clients Out of Control Costs Small Business at Risk The Risk of On-Site Medical Clinics Using an HSA for Your Personal Retirement Creating an Employee Retirement Vehicle IRS Form 8889 (HSA) More Effective Strategy Aggregate Cap Planning HRA Managing General Underwriter Summary CHAPTER 14 College Funding Strategies and Solutions The Traditional Approach Good Intentions, Disastrous Consequences Traditional Vehicles Real Life Summary CHAPTER 15 Two Alternative Investments for Financial Independence The Tertiary Market History Risk Reward Another Alternative O&G Advantages Summary CHAPTER 16 Avoiding Fraud: Small Business Case Study Introduction Suspicion Investigation Fraud Dismissal and Prosecution New Mechanisms Summary Appendix A Best of the Best Insurance Advisors Investment Advisors Law Business Services Epilogue About the Authors About the Contributors Mark Boehm, MBA, CWPP Aaron Skloff, AIF, CFA, MBA Carl Allen, III Index