In this episode, Lyle Benson and Karen Goodfriend discuss Karen's journey as a CPA financial planner, highlighting her transition from corporate aspirations to a focus on personal financial planning. Karen emphasizes the importance of integrating psychological aspects with technical financial planning, especially for clients experiencing sudden wealth. In this episode of the PFP Section podcast, Lyle Benson interviews Kelley to share more of her story with our community. The conversation includes Karen’s experience and perspective on topics like:

• Benefits and opportunities of remote work
• Technology’s evolving role of technology and its impact on remote collaboration
• Importance of the supportive CPA financial planning community and mentorship
• Significance of maintaining a balance between technical expertise and client relationships
• The CPA financial planner’s role in the broader financial planning ecosystem

Access resources related to this podcast: Note: If you’re using a podcast app that does not hyperlink to the resources, visit Libsyn (PFP) to access show notes with direct links.

• Listen to other episodes in this series.
• Technology for a Tax and Financial Planning Services Business Guide
• Learn more about the pathways for getting educated and attaining your CPA/PFS.

This episode is brought to you by the AICPA’s Personal Financial Planning Section, the premier provider of information, tools, advocacy, and guidance for professionals who specialize in providing tax, estate, retirement, risk management and investment planning advice. Also, by the CPA/PFS credential program, which allows CPAs to demonstrate competence and confidence in providing these services to their clients. Visit us online to join our community, gain access to valuable member-only benefits or learn about our PFP certificate program.

Subscribe to the PFP Podcast channel at Libsyn to find all the latest episodes or search “AICPA Personal Financial Planning” on your favorite podcast app.

As a follow-up to Debra’s webcast Planning for Clients with $1-15M in Net Worth, she discusses a much more organized approach for tax planning. A year-round planning calendar clearly shows how you apply tax planning to their financial decisions. The events encompassed in the calendar reinforce the key goals of a successful plan. As CPAs you talk tax planning, but here are ways to apply it with your client discussions that will allow you to be better organized, improve client retention and expectations and justify your fees.
Debra answers questions like these and more:

• How can a year-round planning calendar improve client retention and team organization?
• What are the five key elements of a great financial plan?
• How do you differentiate your tax planning from the firm down the street?
• How does tax planning affect financial planning?

Many of the PFP Section resources provide ideas on topics that can be discussed throughout the year including:

• Debra Taylor’s video archive Planning for Clients with $1-15M in Net Worth
• The Advisor's Guide to Financial and Estate Planning is a 4-volume guide that serves as a reference for many client questions and strategies.
• The Personal Finance Scorecard is a great tool to get feedback from your clients on what is really important and can guide your conversations throughout the year

This episode is brought to you by the AICPA’s Personal Financial Planning Section, the premier provider of information, tools, advocacy, and guidance for professionals who specialize in providing tax, estate, retirement, risk management and investment planning advice. Also, by the CPA/PFS credential program, which allows CPAs to demonstrate competence and confidence in providing these services to their clients. Visit us online to join our community, gain access to valuable member-only benefits or learn about our PFP certificate program.

Subscribe to the PFP Podcast channel at Libsyn to find all the latest episodes or search “AICPA Personal Financial Planning” on your favorite podcast app.

In this episode of the PFP Section podcast, Bob Keebler, CPA/PFS discusses strategies for estate tax planning in anticipation of the TCJA (Tax Cuts and Jobs Act) sunset on December 31, 2025. The sunset, which will reduce the double exclusion amount from approximately $14 million to $7 million and many practitioners will need to evaluate gifting for their relevant clients. Bob covers various techniques, including:

• Spousal lifetime access trusts (SLATs) and dynasty trusts, to ensure effective estate planning.
• The importance of cash flow planning, understanding portability rules, and careful trust design to avoid issues like the Reciprocal Trust Doctrine.
• Practical considerations such as timing of gifts, administrative preparation, and the use of private annuities for income.
• The need for thorough documentation and legal compliance to prevent estate inclusion and litigation.

Access resources related to this podcast: Note: If you’re using a podcast app that does not hyperlink to the resources, visit Libsyn (PFP) to access show notes with direct links.

• Prepare large estates for TCJA sunset now article
• Upcoming webcast: Multi-year income tax planning in preparation for the sunset of TCJA included in PFP Section membership
• Video: Planning with SLATs and SLANTs ahead of the TCJA sunset

This episode is brought to you by the AICPA’s Personal Financial Planning Section, the premier provider of information, tools, advocacy, and guidance for professionals who specialize in providing tax, estate, retirement, risk management and investment planning advice. Also, by the CPA/PFS credential program, which allows CPAs to demonstrate competence and confidence in providing these services to their clients. Visit us online to join our community, gain access to valuable member-only benefits or learn about our PFP certificate program.

Subscribe to the PFP Podcast channel at Libsyn to find all the latest episodes or search “AICPA Personal Financial Planning” on your favorite podcast app.