U.S. Trust National Wealth Planning Strategists

Transcription

1 U.S. Trust National Wealth Planning Strategists Biographies U.S. Trust Investments August 2014

2 Important information Always consult with your independent attorney, tax advisor, investment manager, and insurance agent for final recommendations and before changing or implementing any financial, tax, or estate planning strategy. Investment products: Not FDIC Insured Not Bank Guaranteed May Lose Value U.S. Trust operates through Bank of America, N.A., and other subsidiaries of Bank of America Corporation. Bank of America, N.A. and U.S. Trust Company of Delaware (collectively the Bank ) do not serve in a fiduciary capacity with respect to all products or services. Fiduciary standards or fiduciary duties do not apply, for example, when the Bank is offering or providing credit solutions, banking, custody or brokerage products/services or referrals to other affiliates of the Bank. Bank of America, N.A., Member FDIC. Investing in securities involves risks, and there is always the potential of losing money when you invest in securities. Credit and collateral subject to approval. Terms and conditions apply. Programs, rates, terms and conditions subject to change without notice. Equal Housing Lender. This presentation may not be reproduced or distributed by any person for any purpose without prior written consent. ARKQNVYF 8/2014 2

3 Mitchell A. Drossman National Director of Wealth Planning Strategies Mitchell A. Drossman is a managing director and the national director of wealth planning strategies at U.S. Trust, Bank of America Private Wealth Management. In this role, Mitchell leads the National Wealth Planning Strategies Group, which is established to provide the capability on a national level to U.S. Trust and thought leadership on wealth planning and tax matters, in addition to specializing in sophisticated tax, estate and financial planning. Prior to joining U.S. Trust, Mitchell was an estate planning attorney with the New York City law firm of Proskauer Rose LLP, for approximately nine years. Mr. Drossman is also a Certified Public Accountant and was formerly with the Big Four accounting firm of Ernst & Young, LLP. Mr. Drossman is co author of a chapter on fiduciary tax responsibilities in J.K. Lasser's Estate Tax Techniques published by Matthew Bender & Company and served on the Advisory Board of Practical Drafting, a highly regarding estate planning publication. He taught a course entitled Estate Planning: Beyond the Basics as part of the continuing legal education program of Fordham University School of Law and has spoken at numerous seminars including William & Mary Law School s Annual Tax Conference (2010 and 2009), various Estate Planning Councils (Greensboro 2013; Eastern Connecticut 2009; Fairfield, Connecticut 2008; Naples, Florida 2008; New Hampshire 2003), New York University s Summer Institute in Taxation (2007 to 2013), ACTEC Annual Meeting (2007), New York State Bar Association s Estate Planning Seminar (2005), New York State Society of CPAs Annual Estate Planning Conference (2009, 2008) and its Estate and Financial Planning Conference (2005), The New York Community Trust Estate Planning Conference (2004), Westchester Women s Bar Association, New York State Society of CPAs Annual Estate Planning Conference (New York, New York), the Financial Planning Association s 2002 Annual Retreat (Houston Texas), the Attorneys for Family Held Enterprises Annual Conference (Tempe, Arizona), and the UJA Federation of New York s Annual Estate, Tax and Financial Planning Conference ( ). Mr. Drossman has often been quoted in various publications like The Wall Street Journal, Barron s, Forbes, BusinessWeekandThe New York Times. He served as a member of the Association of the Bar of the City of New York (and its Committee on Estate and Gift Taxation, ), the New York State Society of CPAs (and served as the Chair of the Committee on Income Taxation of Estates and Trusts), the New York State Bar Association(and its Trusts and Estates Section and Estate Planning Committee),the UJA Federation's Trusts and Estates Specialty Group (and served as Chair from ), the Museum of Modern Art s Planned Giving and Advisory Committee and is a member of the Alumni Admissions Board of Brooklyn Law School. Mr. Drossman received his J.D. cum laude from Brooklyn Law School, where he served as Editor of the Law Review. 3

4 Richard James, National Wealth Planning Strategist Richard is managing director and a national wealth planning strategist at U.S. Trust, Bank of America Private Wealth Management. In this role, Richard keeps abreast of changes in the law and planning strategies that may affect U.S. Trust clients, and assists in the preparation of materials on various estate and tax planning ideas that are used by our associates and their clients. Richard has been instrumental in building financial, retirement and tax plans and crafting creative plans that deal with complex tax, financial and family issues for select ultra high net work clients. His connections with leading lawyers and accountants around the country, allow him to keep up with the newest and most creative planning techniques. PriortojoiningU.S.Trust,Richardworkedasanestateplanningattorney in private practice in Boston. Richard has worked for a variety of organizations (including law firms, accounting firms and private companies) in a variety of roles, including a two year tenure with the federal government in the Washington, D.C. area and another two years in the finance department of a textile manufacturing company located in historic Lowell, Massachusetts. During his career Richard has prepared or reviewed many individual, fiduciary and related tax returns. He has been combining his engineering, finance and legal education, with his extensive experience, to provide estate and financial planning, and related guidance to high net worth families and their advisors. Richard shares his experience and knowledge with others by conducting seminars and speaking to various organizations. Richard has taught courses at Boston University s Metropolitan College and New England College of Finance and has conducted numerous seminars for organizations in the legal and accounting professions on topics such as income taxation, trust accounting, estate planning and estate taxation. Richard is a past co chair of the Estate Planning Committee of the Boston Bar Association. Richard has been quoted in publications such as Forbes, and The Wall Street Journal and has written numerous publications for distribution to clients of U.S. Trust. Richard graduated from Syracuse University with a degree in engineering and from George Washington University with an MSA degree in finance. He received law degrees from Suffolk University Law School (JD) and Boston University School of Law (LLM). 4

5 Steven Lavner, National Wealth Planning Strategist Steven Lavner is managing director and a national wealth planning strategist at U.S. Trust, Bank of America Private Wealth Management. In this role, Steven keeps abreast of changes in the law and planning strategies that may affect U.S. Trust clients, and assists in the preparation of materials on estate and tax planning ideas that are used by our associates and their clients, including financial, tax and estate planning solutions. Steven has been instrumental in building financial and tax plans that deal with complex tax, financial and family issues. Steven is a frequent lecturer and author on issues relating to estate planning and taxation, with particular emphasis on sophisticated wealth transfer techniques for high net worth individuals. These topics include Tax Free Gifting: Comparing GRATs and Sales to Grantor Trusts; Generation Skipping Transfer Tax; QPRT and GRAT Alternatives: Sales of Remainder Interests and Joint Purchases; Family Limited Partnerships; Defined Value Formulas; Life Insurance Trusts; Planning for the Gap in Federal and State Exemptions; and Planning for the Transfer Tax Exemptions; and Lifetime Gifting: A Transfer and Income Tax Analysis. Prior to joining U.S. Trust, Steven was Counsel to the New York City law firm of Kaye Scholer LLP, where he specialized in all aspects of trusts and estates law. Steven earned his B.A. from New York University, graduating magna cum laude. He received his J.D. from the New York University School of Law, where he was a journal member. He is a member of the New York Bar. 5

6 Ramsay H. Slugg, National Wealth Planning Strategist Ramsay H. Slugg is managing director and a national wealth planning strategist at U.S. Trust, Bank of America Private Wealth Management. In this role, Ramsay keeps abreast of changes in the law and planning strategies that may affect U.S. Trust clients, and assists in the preparation of materials on various estate and tax planning ideas that are used by our associates and their clients including financial, tax and estate planning solutions for our ultra high net worth clients and their families. Ramsay has been instrumental in building financial, retirement and tax plans and crafting creative plans that deal with complex tax, financial and family issues for select ultra high net work clients. Prior to joining U.S. Trust, he was the National Practice Director of Bank of America s Philanthropic Management group. In that capacity, he was involved in both client and internal strategic planning and product development for the Bank s charitable practice. He has also served as the Central Region Director of the Bank s Charitable Management Services Group, and the Central Region Director of the Wealth Management Consulting Group. Mr. Slugg is also an adjunct professor at Texas Christian University, teaching courses in Introductory and Advanced Federal Income and Estate Taxation. He is a frequent speaker on tax and financial planning topics. Mr. Slugg received his J.D. degree from the Ohio State University College of Law, and his undergraduate degree from Wittenberg University. Mr. Slugg is admitted to practice law in Texas and Ohio, is a member of the State Bar of Texas, the American, Ohio, and Tarrant County Bar Associations, the Tax and Estate Planning Section of the Tarrant County Bar (Chair, ), the Lone Star Chapter of the Partnership for Philanthropic Planning, and the College of the State Bar of Texas. 6