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DISASTER RECOVERY CONFERENCE

A Two-Day Conference
Monday, February 4, 2002
&
Tuesday, February 5, 2002
The Yale Club
50 Vanderbilt Avenue
(between 44th and 45th streets)
New York, NY 10017
9:00am to 5:05pm

Designed for: Accountants, attorneys, entrepreneurs, business owners, and other professionals interested in all aspects of disaster planning and recovery, with emphasis on the personal financial planning issues which accompany catastrophic events.

Objective: To provide participants with the latest information and legislation as it relates to disaster recovery, estate and retirement planning, life and disability insurance, investing, and charitable giving.

CONFERENCE PROGRAM

DAY ONE
Monday, February 4, 2002

8:30am Check-in

9:00am–9:05am Introduction Conference Chair
Andrew B. Blackman, CPA/PFS, CFP, Shapiro & Lobel, LLP

9:05am–9:55am Economic Impact of 9/11
Peter Bakstansky, Assistant VP/Senior Economist, Federal Reserve Bank of New York

• The policy responsibilities of the Federal Reserve, the unique role of the New York Fed, and how we interact with the financial markets.
• The impact of the extraordinary events of 9/11 on the downtown NYC area, the banking infrastructure, and the payments system.
• The steps we took on 9/11 and the days following the attack to assure sufficient liquidity and stable, functioning financial markets.
• Lessons learned in the aftermath.

9:55am–10:45am Why 9/11 Confirms the Relevancy of Asset Allocation
Hans P. Ziegler, Sanford Bernstein

A review of why asset allocation remains an important tool in creating financial plans, and looking at specific lessons learned in the wake of the 9/11 tragedies.

10:45am–10:55am Break

10:55am–11:45am Investing Criteria

Moderator: Peter V. Traphagen, CPA/PFS, Traphagen & Traphagen CPAs
Panelists: Theodore J. Sarenski, CPA/PFS, CFP, Dermody, Burke & Brown P.C.
Mitchell Freedman, CPA, Mitchell Freedman Accountancy Corporation
Bernard M. Kiely, CPA/CFP, Kiely Capital Management, Inc.

The panel will discuss investing criteria. Should it vary in response to a disaster or should an everyday plan automatically anticipate periodic disasters?

11:45am–12:45pm Lunch

12:45pm–2:25pm Estate Planning with Retirement Assets
Seymour Goldberg, JD, CPA, Goldberg & Goldberg, PC

• Common errors in beneficiary forms.
• Proper selection of beneficiaries in retirement accounts.
• Effective use of disclaimers.
• Effective use of a trust as a beneficiary of an IRA.
• How to deal with a sponsorless plan when a sole proprietor dies.

2:25pm–3:15pm Sudden Money Issues
Heidi Flammang, Maginot Group

Hear firsthand account from a victim turned advisor of issues created from the receipt of settlements recovered as compensation from a tragedy.

3:15pm–3:25pm Break

3:25pm–4:15pm Life, Disability, Property, and Casualty Insurance Lessons Learned from 9/11

Moderator: Andrew B. Blackman, CPA, Shapiro & Lobel, LLP
Panelists: Eric J. Miller, Miller Consulting Group, Inc.
Carl S. Zelinsky, New England Brokerage Corporation
Steven B. Levine, New England Brokerage Corporation

The 9/11 disaster focused attention on the importance of informed decision-making. Will explore lessons learned from the 9/11 disaster.

4:15pm–5:05pm Charitable Giving
Craig E. Lafferty, United Way of Greater Mercer County

Learn ways to address with your client’s creative giving through charities (how to determine where charitable dollars do victims the most good.) Explore different method of giving to charities, and how to determine what charity meets your or your client’s criteria.

8:30am Check-in

9:00am–9:05am Introduction Conference Chair
Andrew B. Blackman, CPA/PFS, CFP, Shapiro & Lobel, LLP

9:05am–9:55am The Internal Revenue Service and Congress Reaction to the 9/11 Disaster
Charles A. Hall, Procedure and Administration, IRS Chief Counsel Office

Hear from the author of IRS pronouncements designed to grant relief to the victims of the 9/11 disaster. Get the latest updates on legislations enacted and pending.

9:55am–10:45am Psychology Issues of Dealing with 9/11 Victims
Jody Layton, MS, Own Practice

A professional psychologist will address financial professionals on how to increase their awareness to better serve their clients in a time of great emotional stress.

10:45am–10:55am Break

10:55am–11:45am Working With Survivors

Moderator: Andrew B. Blackman, CPA, Shapiro & Lobel, LLP
Panelists: Peter V. Traphagen, CPA/PFS, Traphagen & Traphagen CPAs
John R. Lieberman, CPA/PFS, Rosenzweig & Maffia LLP
Bernard M. Kiely, CPA, CFP, Kiely Capital Management, Inc.

A panel discussion on lessons learned from actual case histories.

11:45am–12:45pm Lunch

12:45pm–2:00pm Lessons Learned from Natural Disasters and the Long Reach of 9/11
Mitchell Freedman, CPA/PFS, Mitchell Freedman Accountancy Corporation

Explore experiences common to CPA planners in California, such as earthquakes, fires, and flood/mud catastrophes. 9/11 has affected financial plans well beyond the local area. Hear the perspective of a California CPA’s firm on the changes to operation and business brought about by 9/11.

2:00pm–3:15pm Refocusing on the New Minimum Distribution Rules
Barry C. Picker, CPA/PFS, CFP, Own Account

• The new rules and how damaged portfolios might be impacted.
• Beneficiary minimum distribution rules and avoiding penalties on 591/2 distribution.
• Spousal option on inherited accounts.

3:15pm–3:25pm Break

3:25pm–4:15pm Prudent Withdrawal Rates
Bernard M. Kiely, CPA, CFP, Kiely Capital Management, Inc.

Planning for our clients’ retirement usually includes projecting future investment returns. Those return assumptions can make or break a plan. Gain an understanding of basic investment allocation, historical investment returns, Deterministic & Stochastic Models, the use of Monte Carlo simulations, and safe withdrawal rates from investment assets.

4:15pm–5:05pm Planning for Death–… and What if you Don’t?
Alan J. Straus, CPA, JD, Alan J. Straus, CPA

Topics to be discussed: Last will, Laws of Intestacy, Guardianship, Life Insurance Trust, Health Care Proxy, Power of Attorney, Estate Tax: Filling out Form 706, The Estate Audit, Post-Death–Planning Disclaimers, Deductions & Distributions, Administration of the Estate, and Family Controversies.