2011 Joint Presentation

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2011 Joint Presentation

  1. 1. Will Your Loved Ones Be Left Out? A Comprehensive look at the unique financial & legal challenges faced by the LGBT Community Steven W. Schmitt, CFP ® , MBA Kyle D. Young, CFP ® First Vice President – Investment Officer Vice President – Investment Officer Accredited Domestic Partnership Advisor sm Accredited Domestic Partnership Advisor sm (973) 564-699 (973) 564-6983 [email_address] [email_address] Attorney at Law: Philip J. Hoskins, Esq. Law Offices of Philip J. Hoskins 310-209-8080 [email_address]
  2. 2. The Schmitt-Young Investment Group of Wells Fargo Advisors <ul><li>We are CERTIFIED FINANCIAL PLANNER professionals focusing exclusively on Investment Planning and Asset Management Services for the Gay & Lesbian Community </li></ul><ul><li>STEVEN W. SCHMITT , CFP®, MBA, Accredited Domestic Partnership Advisor sm </li></ul><ul><li>First Vice President – Investment Officer </li></ul><ul><li>Steven is a CERTIFIED FINANCIAL PLANNER professional serving the GLBT community across the country. Within the structure of his team, Steven focuses primarily on money management services and the critical decision making that impacts client portfolios. Steven’s extensive background in finance affords him the experience to teach the importance of proper asset allocation, diversification and active management. His interest and passion for meteorology provides a different perspective on environmental conditions that may potentially highlight opportunities in the marketplace generated by climate and weather trends. Steven is also the Regional Coordinator Chairperson for GALEA (Wachovia’s GLBT ERN) and completed his MBA with a concentration in Finance May 2008. He currently resides with his partner Paul in New York City. </li></ul><ul><li>KYLE D. YOUNG , CFP®, Accredited Domestic Partnership Advisor sm </li></ul><ul><li>Vice President – Investment Officer </li></ul><ul><li>Kyle is a CERTIFIED FINANCIAL PLANNER professional serving the GLBT community nationwide. He holds a degree in Economics from Rutgers University. Kyle’s primary focuses include setting guidance and implementing all fixed income portfolio decisions, current client relationship management and continued business development activities. In addition to working as the New Jersey State Leader of GALEA, Kyle passionately works with several other GLBT non-profit organizations. He is a Charter member and a Chapter Leader for the Gay Pride Business Network, a Board of Trustees member for GAAMC (Gay Activist Alliance of Morris County) and is a Regional Council member for Out & Equals NY Metro Council. Kyle currently resides in Somerset County, NJ with his partner Michael. </li></ul><ul><li>BECKY WILHELMS </li></ul><ul><li>Financial Advisor </li></ul><ul><li>With over 15 years experience in the financial industry, Becky joined Wells Fargo Advisors in 1998. She began her career in 1994 at Ryan, Beck & Co. in West Orange, NJ as a fixed income analyst on the bond desk. Prior to joining the Short Hills branch, Becky was an Internal Business development Consultant at Wells Fargo Corporate Headquarters for six years. While there she earned the Excellence First Associate of the Year Award for two years. Becky creates value for clients through a deep commitment to service and develops life-long client relationships built on a foundation of trust and client satisfaction. In her spare time, Becky enjoys spending time with her first grandchild, playing golf and knitting. </li></ul><ul><li>DAVID NEWSOME </li></ul><ul><li>Client Associate </li></ul><ul><li>As the newest member of our team, David brings over seven years of professional experience with Wells Fargo Advisors in Short Hills. Before joining us David was an Operational Specialist in the branch, serving both client and associates with his expertise. Prior to entering the financial services field David worked in customer service with Summit Bank. David resides in Newark, New Jersey. </li></ul>
  3. 3. Nationwide Client Base Los Angeles Mettmann, Germany Markham, Ontario San Francisco Palm Springs Sandy, UT Chicago Bloomington Victoria, TX Tuscaloosa, AL Atlanta, GA Charleston, SC Tampa/St. Pete Ft. Lauderdale New England/ NY Metro Washington DC Baltimore Charlotte Cote, WY
  4. 4. Our Continued Commitment to Our Community <ul><li>Groundbreaking Designation Program: Accredited Domestic Partnership Advisor sm </li></ul><ul><li>GLAAD: 2010 Recipient of the Media Awards in Advertising for our Advocate Money Minute segments </li></ul><ul><li>DiversityInc : Top 50 Companies for Diversity (7 consecutive years) </li></ul><ul><li>HRC Corporate Equality Index: 8 consecutive years scoring a perfect 100 </li></ul><ul><li>National Gay & Lesbian Chamber of Commerce – Founding Member </li></ul><ul><li>Out & Equal Workplace Advocates: 2007 Workplace Excellence Award recipient </li></ul><ul><li>National Center for Lesbian Rights: 2002 Charter Presenting Sponsor </li></ul>
  5. 5. Special Designation Program <ul><li>Accredited Domestic Partnership Advisor sm </li></ul><ul><li>Program created and offered exclusively by Wells Fargo Advisors, in collaboration with the College for Financial Planning </li></ul><ul><li>The need for a standard for all advisors working with our community </li></ul>
  6. 6. We can be thought of as your Chief Financial Officer <ul><li>Coordinating the efforts of all your advisors </li></ul>Insurance Agent Pension Consultant CPA Attorney YOU
  7. 7. Our Wealth Management Process Wealth Management Services Financial Independence Liability Planning 2 Estate Planning Services Family Planning Lending Needs 4 Retirement Planning Financial Goals Statement of Goals Financial Plan Investment Management Investment Policy Manager Selection Asset Allocation Stocks, Bonds Alternative Investments Cash Risk Tolerance Retirement Plans 401(k) Beneficiaries IRA’s Social Security Benefit Commencement Decision Healthcare Insurance Long Term Care Tax Planning 1 Taxable vs. Tax Advantaged Tax Reduction Plan Goal Protection Life Insurance Review Corporate vs. Personal Income Protection Disability Insurance Liability Insurance Umbrella Coverage College Planning Child and Grandchild 529 Plans Coverdell Savings Accounts Custodial Accounts Child Living Expenses Special Needs Parents Health care Living Expenses Housing Basic Documents Health Care POA Living Will Durable POA Trusts 3 Revocable Credit Shelter Special Needs Generation Skipping Personal Residence Heirs Beneficiary Planning Annual Gifting Estate Transfer Transfer on Death Asset Titling Charitable Giving 3 Outright Gifts Charitable Trusts Bequests Donor Advised Funds Access to Lending Affiliates Personal Lending Business Lending Home Loans Mortgages Refinancing Security-Based Lending 5 Collateral Accounts Commercial Lending Construction Lending Small Business Lending
  8. 8. Today’s Presentation <ul><li>My presentation will be presented from a Federal perspective with a California focus </li></ul><ul><li>Breakdown of presentation </li></ul><ul><ul><li>Financial/Legal challenges during life </li></ul></ul><ul><ul><ul><li>Action Items </li></ul></ul></ul><ul><ul><li>Financial/Legal challenges in preparation of death </li></ul></ul><ul><ul><ul><li>Action Items </li></ul></ul></ul><ul><ul><li>Question & Answer period </li></ul></ul><ul><li>Follow-up complimentary consultation to relate the topics of discussion to your specific situation </li></ul>
  9. 9. Spouse v. Non-Spouse (Federal Status)
  10. 10. During Life: Financial
  11. 11. Let’s begin with taxes… Generic Financial Concern The LGBT Perspective Taxes Retirement Investments Estate & Legal
  12. 12. Imputed Income Health Insurance Benefits Imputed Income and the impact it has on your fringe benefits A non-issue for our married colleagues (tax-free fringe benefit) Benefit Equalization/Gross-up of salary from company
  13. 13. Recent Tax Legislation Extension of Bush-era tax policy Current Tax Rates 2011 2012 2013 Income (Max) 35% 35% 39.6% Income (Min) 10% 10% 15% Capital Gains (Max) 15% 15% 20% Qualified Dividends (Max) 15% 15% 39.6% Gift (Max) 35% 35% 55% Estate (Max) 35% 35% 55%
  14. 14. Unlimited Marital Deduction Federally-recognized married couples have the ability to pass an unlimited amount of assets between them both during life and upon death Non-Spouse couples are NOT eligible for this benefit May have major tax implications – Planning is key!
  15. 15. Triggering Gift Taxes <ul><li>Potential gift tax liability due to change in title after purchase </li></ul><ul><li>Mortgage payments may trigger gift tax </li></ul><ul><li>If one earner contributes more than the other may be a gift tax issue </li></ul>
  16. 16. BEWARE! Gift Tax Annual Exclusion of $13,000 (must file Form 709 on anything over this amount) Lifetime Exclusion and Gift Tax Rate ** Lack of Portability for Non-Spouse Partners ** 2011 2012 2013 Exclusion $5,000,000 $5,000,000 $1,000,000 Max Rate 35% 35% 55%
  17. 17. Tax Filing Federal Income Tax Filing Must be filed separately due to the Defense of Marriage Act (DOMA) Groundbreaking Ruling issued by the IRS in 2010 will impact ALL California Domestic Partners/Married Partners State Income Tax Filing California requires you to file Jointly if DP/Married
  18. 18. Topics of Discussion Investment Planning – Two Perspectives Generic Financial Concerns The LGBT Perspective Taxes Retirement Investments Estate & Legal
  19. 19. Funding Company Sponsored Qualified Retirement Plans 401(k), 403(b), 457, TSP, etc. 2011 2012-2013 Under 50 Years of Age $16,500 Indexed for Infl. Over 50 Years of Age $22,000 Indexed for Infl.
  20. 20. Protecting Your Company Sponsored Qualified Retirement Plans <ul><li>Proper management of underlying investment options </li></ul><ul><li>Historically, not estate planning friendly to non-spouse beneficiaries </li></ul><ul><li>Plans fall under ERISA/Federal guidelines and can change at any time </li></ul><ul><li>Plans are restrictive! </li></ul>
  21. 21. Action Item! Leave nothing to chance Rollover former qualified plans to a Traditional IRA (Open investment platform, outside ERISA/Federal Guidelines, more flexibility, etc.)
  22. 22. Rollover of Former Qualified Plans Former Company Plan IRA Rollover Beneficiary Stretch IRA Transferring assets from old company retirement plans
  23. 23. In-Service Non-Hardship Withdrawal Current Company Plan IRA Rollover Beneficiary Stretch IRA In-service, non-hardship withdrawal from qualified plan (ISNHW). Plan may allow plan participants to withdraw a portion of their qualified plan (i.e. 401(k)) prior to retirement or termination of service. (IRC/402c)
  24. 24. Protecting Your Defined Benefit Plans (Pension Plans) Many company Pension Plans are NOT eligible for rollover to non-spouse beneficiary upon the passing of the employee partner!! Default death benefit payout options utilize ERISA guidelines and are NOT advantageous to non-spouse beneficiaries
  25. 25. Action Item! Leave nothing to chance Contact your Pension Plan provider to inquire about company beneficiary policies Elect your desired death benefit payout option For those companies that simply do not allow non-spouse beneficiaries, alternative planning will be necessary
  26. 26.
  27. 27. Attorney at Law <ul><li>Philip J. Hoskins, Esq. </li></ul><ul><li>Attorney at Law, Law Offices of Philip J. Hoskins </li></ul><ul><li>My firm's primary focus is on estate planning, probate and trust matters, including revocable and irrevocable trusts, wills, powers of attorney and health care directives. I pioneered affordable estate planning that includes a client guide, and easy-to-use methods that allow clients to provide the information needed and custom tailor their documents. I have focused upon the LGBT community in my legal practice since the 1970’s and pioneered the application of estate planning techniques for our community that had previously only been available for those with very large estates.  I was one of the first attorneys to put up a website that delivers useful information about my practice areas and have developed innovative ways to use the internet to reduce costs for my clients.  My background includes both document preparation and estate and probate litigation, giving me an insight into where problems might arise when planning your estate. I am proud to provide affordable legal services of the highest quality </li></ul>
  28. 28. <ul><li>California Domestic partnerships are treated in the same way as marriage under state law. </li></ul><ul><li>All earnings are community property and debts are community debts </li></ul><ul><li>For example, if A earns $100,000 and B earns $50,000, both A and B can control all $150,000 of earnings. </li></ul><ul><li>If B runs up $10,000 debt, both are obligated to pay it. </li></ul><ul><li>To end a DP requires getting divorce </li></ul><ul><li>The primary difference is treatment under federal law and how it is treated in other states (many will not recognize the relationship). </li></ul>Philip J. Hoskins, Attorney at Law
  29. 29. <ul><li>June 2010 IRS Ruling requires registered DP’s and same-sex married couples to declare one half partner’s income on separate federal income tax returns based upon community property laws of California. </li></ul><ul><li>In the example, both A and B claim $75,000 income ($100k + $50k) / 2 </li></ul><ul><li>Applies to tax years 2007 and after. Mandatory for tax years 2010 forward. Can amend prior returns if beneficial. </li></ul><ul><li>Domestic Partners must file as married on California tax return </li></ul>Philip J. Hoskins, Attorney at Law
  30. 30. <ul><li>Holding title as “community property with right of survivorship” is bette than joint ownership </li></ul><ul><li>First: the tax basis = purchase price + improvements </li></ul><ul><li>Domestic Partners on the death of a joint owner, the tax basis of one half is increased to the value at date of death </li></ul><ul><li>For Domestic Partners owning as CPWROS, the value of the entire property is increased to the value at date of death. </li></ul><ul><li>Could result in major tax savings for surviving partner. </li></ul>Philip J. Hoskins, Attorney at Law
  31. 31. <ul><li>Whether to register or not is a decision that should be discussed with, among others, a tax expert knowledgeable on these issues. </li></ul><ul><li>Domestic partners and all couples living together should consider an agreement between themselves clarifying finances. </li></ul><ul><li>At a minimum, agree what belongs to each at the start of the DP so no disputes later. </li></ul><ul><li>You can, by proper agreement, change many aspects of the law as it applies to you. </li></ul>Philip J. Hoskins, Attorney at Law
  32. 32. <ul><li>An Advanced Health Care Directive </li></ul><ul><li>Durable Power of Attorney </li></ul><ul><li>Revocable Living Trust </li></ul><ul><li>Will </li></ul><ul><li>Certificate of trust, assignment to trust, deed to trust </li></ul><ul><li>For couples who either are or plan to marry or register as Domestic Partners, consider a premarital agreement. </li></ul>Philip J. Hoskins, Attorney at Law
  33. 33. <ul><li>With an Advance Health Care Directive you can give authority to someone to make health care decisions for you if you are incapacitated. </li></ul><ul><li>You can provide specific instructions for how they should handle those decisions. </li></ul><ul><li>If you become incapacitated can avoid court supervised conservatorship. </li></ul><ul><li>This Directive is important if you want to avoid costly and unwanted extended life support. </li></ul>Philip J. Hoskins, Attorney at Law
  34. 34. <ul><li>In addition to health care issues, you may want to give someone the power to take care of financial matters and take action with respect to your assets and liabilities if you are incapacitated. </li></ul><ul><li>Authorizes someone to file suit on your behalf, file your tax returns and many other essential tasks. </li></ul><ul><li>This is called a Durable Power of Attorney and can be tailored to fit your specific needs and instructions. </li></ul>Philip J. Hoskins, Attorney at Law
  35. 35. Preparing for Death: Financial
  36. 36. Death Taxes Same-sex partnerships do not provide any of the federal benefits associated with marriage <ul><li>The unlimited marital deduction does not apply to same-sex couples, creating a host of estate planning issues </li></ul><ul><li>Applies to estates over a set asset level (varies depending on state of residence) </li></ul><ul><li>Estates left to non-family members are taxed at a set level (varies depending on state of residence) </li></ul>Federal Estate Tax State Estate Tax Inheritance Tax Gift Tax
  37. 37. Federal Estate Tax Exemption Amount and Max Unified Gift and Estate Tax Rate ** Lack of Portability for Non-Spouse Partners ** 2011 2012 2013 Exemption $5,000,000 $5,000,000 $1,000,000 Max Rate 35% 35% 55%
  38. 38. Action Item! <ul><li>Stay current regarding Federal Estate, State Estate and Inheritance Tax thresholds and tax rates </li></ul><ul><li>Work with team of professionals to implement techniques to reduce or eliminate these taxes </li></ul>
  39. 39. Social Security
  40. 40. What Your Partner Could to Lose This leaves your surviving partner or heirs with a fraction of the assets left to them!! 2011 2012 2013 Federal Estate Tax 35% 35% 55% Federal Income Tax 35% 35% 39.6% State Estate/Inheritance Tax Varies by State Varies by State Varies by State
  41. 41. Importance of Insurance Protection Protect Large outstanding debt, education for children, probate fees and expenses Provide Liquidity Avoid liquidation of assets to pay tax liabilities Asset Protection/Replacement Loss of social security income, loss of pension income, other assets used to pay tax liability Supplemental Retirement Planning
  42. 42. Action Item! <ul><li>Insurance Policy Review </li></ul><ul><li>Proper titling of policies </li></ul><ul><li>Proper coverage amount </li></ul><ul><li>Review beneficiary designations (primary and contingent) </li></ul>
  43. 43.
  44. 44. <ul><li>If you have no will or trust, state law determines who inherits from you. </li></ul><ul><ul><li>Community property to your Spouse/Partner </li></ul></ul><ul><ul><li>Separate property a portion to Spouse and portion child or parent </li></ul></ul><ul><ul><li>All to children of decedent equally if of same degree of kinship </li></ul></ul><ul><ul><li>If no children, to decedent's parents equally, or, if none, see below </li></ul></ul><ul><ul><li>To the issue of parents or either of them, equally if all of the same degree of kinship, or, if none, see below </li></ul></ul><ul><ul><li>To decedent's grandparents equally, or, if deceased, to their issue equally if all the same degree of kinship, or, if none, etc etc </li></ul></ul>
  45. 45. <ul><li>Probate is a court proceeding upon death. </li></ul><ul><li>If your estate has assets with a gross value over $100,000 it must go through probate. </li></ul><ul><li>A person is appointed to handle your estate. If you have nominated someone in a Will, they will usually be appointed </li></ul><ul><li>The Court may require a bond be posted. </li></ul><ul><li>In California probate is a lengthy process and can be expensive and therefore is to be avoided when possible. </li></ul><ul><li>The average probate takes over a year to complete and will cost 6% in fees. </li></ul>Philip J. Hoskins, Attorney at Law
  46. 46. <ul><li>An Advanced Health Care Directive </li></ul><ul><li>Durable Power of Attorney </li></ul><ul><li>Revocable Living Trust </li></ul><ul><li>Will </li></ul><ul><li>Certificate of trust, assignment to trust, deed to trust </li></ul><ul><li>For couples who either are or plan to marry or register as Domestic Partners, consider a premarital agreement. </li></ul>Philip J. Hoskins, Attorney at Law
  47. 47. <ul><li>The primary purpose of a revocable (living) trust is to avoid probate and thus: </li></ul><ul><ul><ul><li>speed the distribution of your estate and </li></ul></ul></ul><ul><ul><ul><li>sharply reduce the cost of doing so. </li></ul></ul></ul><ul><li>A trust protects your privacy. </li></ul><ul><li>A trust does not protect assets from creditors nor does it affect estate taxes. </li></ul><ul><li>Only those assets transferred to your trust during your life escape probate. </li></ul>Philip J. Hoskins, Attorney at Law
  48. 48. <ul><li>A revocable, or “living” trust is an entity into which you transfer your assets. </li></ul><ul><li>Any asset that is in your trust is considered by the law to be owned by your trust, not you personally. Therefore, the assets owned by your trust are not subject to probate through the court. </li></ul><ul><li>You deal with assets owned trust in much the same way you deal with them now. The term “revocable” means that during your lifetime, you can change any of the terms of the trust. </li></ul><ul><li>You can change who receives your estate upon death, who succeeds you as trustee, or any other provision. </li></ul><ul><li>Most changes can be made easily and inexpensively. </li></ul>Philip J. Hoskins, Attorney at Law
  49. 49. <ul><li>Real property, no matter where located in most cases </li></ul><ul><li>Some refinance lenders require you to transfer out of your trust. Make sure you put it back in! </li></ul><ul><li>Stock accounts, bank accounts, vehicles, all your assets. </li></ul><ul><li>Do not transfer IRA or any qualified (401k etc.) account. </li></ul>Philip J. Hoskins, Attorney at Law
  50. 50. <ul><li>The person you have named in your trust as your successor trustee takes over management of the trust assets and debts. </li></ul><ul><li>This person will pay your debts, taxes, manage the property and then distribute your assets. </li></ul><ul><li>This process is confidential and does not require public court proceedings. </li></ul>Philip J. Hoskins, Attorney at Law
  51. 51. <ul><li>Even if you have a revocable living trust, you should also have a Will. This is called a “pour over” will. </li></ul><ul><li>The purpose is to deal with assets that were either intentionally or unintentionally not transferred to your trust during your life. Those assets will be transferred to the trust upon your death. </li></ul><ul><li>Caution : These assets may still be subject to probate, however. </li></ul><ul><li>If you do not use a trust, this is the vehicle to distribute your estate upon death. </li></ul><ul><li>If you have children, you can name guardians in your Will. </li></ul>Philip J. Hoskins, Attorney at Law
  52. 52. <ul><li>Irrevocable Insurance Trust </li></ul><ul><ul><li>For an insurance policy to keep it out of your estate for estate tax purposes </li></ul></ul><ul><li>Grantor retained interest trusts . </li></ul><ul><ul><li>Allows the settlor to retain an interest in trust assets for a limited period of time, with the remainder interest passing your family. This minimizes taxes by incurring a gift tax only for the remainder interest that follows the settlor's retained interest. Domestic Partners cannot use, however because the IRS does not consider you “family”. </li></ul></ul><ul><li>Charitable remainder trusts . </li></ul><ul><ul><li>Designed to provide benefits to named individuals for a specified period of time, with the remainder interest passing to charity. </li></ul></ul><ul><li>Special needs trusts . </li></ul><ul><ul><li>The principal purpose of a special needs trust is to preserve government benefits for a disabled or aged beneficiary. </li></ul></ul><ul><li>Family Limited Partnerships . </li></ul><ul><ul><li>Passes partial ownership now to avoid estate tax. </li></ul></ul>Philip J. Hoskins, Attorney at Law
  53. 53. <ul><li>WITH RECOMMENDED DOCUMENTS </li></ul><ul><li>If incapacitated avoid court involvement, fast and easy solutions </li></ul><ul><li>Control over your estate and what will happen </li></ul><ul><li>Avoid court involvement and protect your privacy </li></ul><ul><li>Estate can be distributed quickly and confidentially </li></ul><ul><li>Far less costly </li></ul><ul><li>DOING NOTHING </li></ul><ul><li>Estate distributed according to state law, not your wishes </li></ul><ul><li>If incapacitated, may require costly conservatorship – will eat up most of your estate </li></ul><ul><li>On death estate will require court supervised probate which will cost about 6% of your estate. </li></ul>Philip J. Hoskins, Attorney at Law
  54. 54. <ul><li>Make sure each agent and trustee knows you have named them and is up to date on where to find documents. </li></ul><ul><li>Scan your documents and keep them on a USB drive. Take the drive with you when you travel. </li></ul><ul><li>Make a list of who to contact: bills, family, etc. </li></ul><ul><li>Write out your wishes regarding burial; discuss with key people and keep with documents. </li></ul>Philip J. Hoskins, Attorney at Law
  55. 55. <ul><li>If you already have an estate plan, you should review it at least every two years. </li></ul><ul><li>Make sure the people you named are still available </li></ul><ul><li>Make sure all your assets are properly titled – deeds, autos, brokerage accounts etc. </li></ul><ul><li>Laws change so make sure your plan is up to date </li></ul>Philip J. Hoskins, Attorney at Law
  56. 56. <ul><li>Experience, integrity, confidentiality and affordability with highest quality documents </li></ul><ul><li>Unique system saves you time, money and is convenient. A Guide book to answer questions plus get all your questions answered at your convenience. </li></ul><ul><li>In office, online or in your home service. </li></ul><ul><li>Fixed pricing available for document sets from $895 for an individual, $1,195 for a Couple. </li></ul>Philip J. Hoskins, Attorney at Law
  57. 57.
  58. 58. <ul><li>It is tempting to put off estate planning to “later” – but you may be too late. You never really know when you will need the protection. </li></ul><ul><li>I will give you a little incentive to take action now. </li></ul><ul><li>Make a deposit within 7 days for a $100 reduction in fees: (individual - $795/$400 deposit or couple - $1,095/$600 deposit) </li></ul>Philip J. Hoskins, Attorney at Law
  59. 59. The Schmitt-Young Investment Group Our Team: 2 CERTIFIED FINANCIAL PLANNERS sm / Accredited Domestic Partnership Advisors sm 1 Financial Advisor 1 Client Associate Nationwide Practice (we work in 25 states across the county) 95%+ of our practice consists of LGBT individuals/couples Expert In-house Money Management of your Assets Comprehensive Financial Planning Working with the LGBT community is our Expertise and our Passion!
  60. 60. © 2009 Wells Fargo Advisors, LLC. All rights reserved. 0509-1794 [74566-v1] 5/09 Steven W. Schmitt, CFP ® , MBA Kyle D. Young, CFP ® First Vice President – Investment Officer Vice President – Investment Officer Accredited Domestic Partnership Advisor sm Accredited Domestic Partnership Advisor sm (973) 564-6997 NJ: (973) 564-6983 [email_address] [email_address] Independent Attorney: Philip J. Hoskins, Esq. Law Offices of Philip J. Hoskins 310-209-8080 [email_address]

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