Local Estate Planners to Discuss How to Combat Money Laundering and Terrorism Financing at 2014 Estate Planning Seminar

SEATTLE, Oct. 22, 2014 /PRNewswire/ -- Some 900 estate planners will converge on SeattleOct. 30-31, 2014, to discuss hot topics from social media to terrorism financing at the 59^th annual Estate Planning Seminar, hosted by the Estate Planning Council of Seattle and the Washington State Bar Association, and presented in cooperation with the Alaska Bar Association.

These lawyers, accountants, insurance professionals, trust officers, financial planners, and planned giving/development officers for nonprofit organizations will come from throughout the state and elsewhere to meet at this nationally recognized event, to be held at the Washington State Convention Center, 800 Convention Place, Seattle.

"As a member of the Estate Planning Council and chair of the 2014 seminar, I find these two days a must-attend event," said seminar chair Michael C. Harman, with J.P. Morgan Private Bank.  "Estate planning is constantly changing to adapt to the laws and society of the day. Our goal for this year's conference is to provide content that balances these inevitable changes with certain core themes that remain constant from one generation to the next: family, education, tax and succession planning."

One of this year's hot topics involves the role of lawyers in combating money laundering and terrorist financing, led by the international Financial Action Task Force on money laundering. This organization works to engage lawyers in the war against money laundering and terrorist financing. It has helped support legislation and regulation in many countries requiring lawyers to conduct formal and detailed client intake processes, and to report to government authorities when they suspect clients of seeking to launder the proceeds of crime - without tipping off their clients. Despite efforts by Congress, the White House and the U.S. Treasury Department to advance such legislation and regulation, these international norms have not become law in the United States. Lawyers who attend this event will get a full briefing on these efforts and the efforts by bar organizations to respond to the real consequences of money laundering and terrorist financing.

Other hot topics to be covered include details about the 3.8 percent Medicare surtax, the latest on end-of-life directives, keeping current with social media tools, and an update on the federal estate tax.

"As we approach the end of the second year of 'permanency' of the federal gift and transfer tax laws, estate planning remains a dynamic process due to the interplay between income and transfer taxes," said seminar co-chair Tammy Miller, CFP®, CTFA, CAP® with Wells Fargo Private Bank in Seattle. "Today, with the higher estate and gift tax exclusions and relatively lower estate and gift tax rates, the focus for many has broadened to include the burden of higher income taxes. It is also time to review the impact on practitioners of the significant changes in the Washington Trust Act now that it has been part of our daily practice since we adjourned last year's seminar."

Speakers will also explore the areas of wealth succession planning and the use of trusts.

The seminar runs from 6:30 a.m. to 5:30 p.m.Oct. 30 and from 7:15 a.m. to 3:45 p.m.Oct. 31. For more information about the Estate Planning Seminar, contact John Redenbaugh at 206-733-5945 (w), 1-800-945-WSBA, or [email protected] or register online at https://www.mywsba.org/OnlineStore/ProductDetail.aspx?ProductId=6763255&page=none&mt

About the Estate Planning Council of Seattle: Originally founded in the early 1940s and one of the leading estate planning councils in the nation, the Estate Planning Council of Seattle is comprised of King County's top estate planning lawyers, financial planners, certified public accountants, trust officers and insurance agents. The council aims to promote the highest quality estate planning services in the Pacific Northwest by developing and improving the capabilities of its members, fostering cooperation among professionals, and by educating the public about estate planning matters.  New members are welcome. Membership includes colleagues to network with at quarterly dinner meetings, helpful information about specific fields of expertise, and a welcoming organization that values high quality estate planning to help members of the community. For more information go to www.epcseattle.org. 

About the Washington State Bar Association:

The Washington State Bar Association is part of the judicial branch and is authorized by the Washington State Supreme Court to license the state's 35,400 lawyers. The Washington State Bar Association both regulates lawyers under the authority of the Court and serves its members as a professional association — all without public funding. The Washington State Bar Association's mission is to serve the public and the members of the Bar, ensure the integrity of the legal profession, and to champion justice. For more information, go to www.wsba.org.

Contact:
Cynthia Flash
425-603-9520
Email

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SOURCE Estate Planning Council of Seattle