Intergenerational Split Dollar: The Impact of The Morrissette and Levine cases
Thursday, October 20, 2016 from 9:00 AM to 11:00 AM (EDT)
This breakfast meeting qualifies for TWO continuing education credits for NJ DOBI, PACE, CFP(tm) and CPE for CPA's.
Course Abstract: The concept of funding life insurance policies through Split Dollar arrangements has been utilized for many years but in the past most of the plans were employer /employee arrangements where an employer paid all or most of the premiums on policies insuring the lives of its executives and until 2003 there was no authority for the use of a gratuitous or family split dollar program.
After many years of proposed regulations the government in 2003 published final regulations which included Section 1.61-22 that defined one specific type of arrangement as Non-Equity Split Dollar and the provision was the first authority for a gratuitous or private Split Dollar plan.
Attendees of this two-hour presentation will learn:
Speaker: Kevin J. O’Connor, CLU, owR opinion
Kevin O'Connor is one of the founders of owR and has been with the firm since its inception in 1990. Mr. O'Connor is the managing partner of owR's New York City office.
Mr. O'Connor entered the life insurance business in 1962, and by 1969 he was a manager for a career agency of New England Mutual Life. In 1975 he left management to work as an independent advanced underwriting consultant on a joint work basis, sharing commissions with other agents on their more difficult sales.
He is past president of the Suffolk Life Underwriters Association and the Long Island Chapter of the American Society of Chartered Life Underwriters. He has been an instructor for the Life Underwriters Training Council and The American Society of Pension Actuaries.
Kevin has lectured extensively on advanced insurance and employee benefit planning topics at The American Management Association, The American Law Institute, University of Texas Law School, Colby College, Fordham and Adelphi Universities, as well as numerous life insurance and financial planning groups.
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