With passage of the Coronavirus Aid, Relief, and Economic Security Act of 2020 (CARES Act), and the subsequent Paycheck Protection Program and Health Care Enhancement Act, the U.S. government has committed to transferring nearly $2.7 trillion dollars to individuals and businesses to weather COVID-19-related issues. Proper advice and guidance during these turbulent times can assist clients with their overall financial plans. This article will offer an overview of the CARES Act provisions, first covering the individual provisions and followed by a review of business provisions. It will then offer planning advice that might be appropriate for clients, again first from a personal planning perspective and followed by an assessment from a business owner’s perspective.
Speaker: Marc R. Belletsky, JD, CLU, ChFC, RICP, is assistant vice president, Advanced Markets, at Equitable Life Insurance Company. Marc is an advanced sales consultant who has worked at several insurance carriers and has been assisting agents for over 35 years in the areas of estate and business planning, nonqualified-deferred compensation, foreign nationals, corporate and bank-owned life insurance (COLI/BOLI), and private-placement insurance. He is a former bank trust officer and was the president of a broker dealer that specialized in nonqualified-deferred compensation and COLI/BOLI/private placement insurance. A noted author and speaker, he has spoken at numerous professional meetings and has been quoted by many major news outlets. An adjunct professor of law at Western New England University School of Law LLM program in Springfield, Massachusetts, he is also a member of the Connecticut bar and holder of FINRA Series 6, 63, and 26 licenses. His JD is from the New England School of Law and he is an honors graduate from the University of Connecticut.
Speaker: Christina Anstett, JD, is an ERISA attorney with over 25 years of retirement plan industry experience specializing in the design, implementation, and ongoing administration of employee retirement programs. Prior to joining Equitable in 2013, she was senior vice president and chief legal officer for a national retirement plan consulting firm. Tinas is a frequent speaker at industry conferences and a presenter of seminars, webinars, and training programs. She holds a BA from New York University, a JD from Western New England University School of Law and is a member of the Connecticut bar. Tina is also a member of the American Society of Pension Professionals and Actuaries, the National Association of Plan Advisors, and the National Tax-Deferred Savings Association. She holds FINRA Series 6 and 63 licenses and a variable annuity, life, and variable life producer license.
Speaker: Mark A. Teitelbaum, JD, LLM, CLU, ChFC, is vice president, Advanced Markets, at Equitable Life Insurance Company. Mark joined Equitable in June 2006 to manage Advanced Markets. He is currently head of Life Advanced Markets Strategy & Governance. Prior to joining Equitable, Mark worked at several other life insurance carriers. He has also performed tax and business planning work for a Boston area firm that specialized in executive stock option planning and a CPA firm that specialized in estate planning for business owners. Mark is an assistant editor of the Journal of Financial Service Professionals and was previously the editor of the Society of Financial Service Professionals’ Business & Compensation Planning Section newsletter. Mark actively participates with the Association for Advanced Life Underwriting (AALU). He has published articles in several professional journals. Mark is a graduate of Kenyon College and obtained his law degree and LLM at both Ohio Northern University and Boston University.
Format: Journal Live programs are approximately 45 minutes long and consist of a short presentation over the telephone followed by a Q&A session. Questions are submitted by e-mailing [email protected]. This format affords attendees the opportunity for interaction with the expert speaker and a knowledgeable, engaged audience.
Read the article in the July 2020 Journal of Financial Service Professionals: