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May 22, 2014

Wealth Accumulation & Estate Planning: Aligning your personal plans for tax efficiency and asset protection

4901 Hunt Road | Suite 200 | Cincinnati, OH | 45242 | 513.792.6648 PH | 513.792.6644 FX | TruepointWealth.com

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Today’s Presenters

Jody Brant Attorney – Estate and Wealth Planning

Eric Ross, CFP®

Financial Planning Specialist

Steve Condon, CFA President and Principal

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About Truepoint

A legacy of independence and track record of success:

• Founded in 1990 as one of the area’s first fee-only firms

• Office location: Blue Ash, Ohio

• Assets under management: $1.817 billion (as of 3.31.14)

• Clients in 38 states and three foreign countries – 34% outside Ohio

• Ranked #1 independent advisor in Ohio by Barron’s

• 100% employee-owned

• “Exceptionally high” client satisfaction, according to industry survey firm

• Audited long-term track record of investment success

• Truly integrated wealth management

• Specific GE Pre-Retirement Service

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About Katz Teller

• Founded in 1980 • Represents a wide variety of clients, from private businesses with deep

Cincinnati roots to Fortune 100 companies to high net-worth individuals • Represents clients in all areas of estate and wealth planning

- Strategic estate planning techniques

- Planned charitable giving

- Estate and gift tax planning

- Minimization of estate, trust and individual income taxes • Almost 90% of our attorneys selected by peers nationally for inclusion in

Woodward/White’s The Best Lawyers in America® • Katz Teller has global reach as an invited member of Meritas®, an

international consortium of nearly 200 law firms in more than 50 countries • Also specializes in and represents clients in Corporate and General

Business, Health Care, Litigation, Real Estate, Probate and Trust Administration, Mergers and Acquisitions, and Entrepreneurship

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GE Benefits - Decision Making

• RSP – deferral amounts, deferral types and beneficiary designations

• Deferred compensation plans – deferral amounts, payout periods, beneficiary designations

• Pensions – participation in additional benefits, beneficiary designations

• Life insurance – level of coverage, beneficiary designations

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Retirement Savings Plan

• How much should you contribute?

• Should you contribute to the traditional or Roth bucket?

• What should your investment mix be?

• Whom should you designate as your beneficiaries?

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Deferred Compensation Plans

• How much incentive compensation or salary (when available) should you defer?

• What should your distribution elections be?

• How should you allocate your deferral balance among investment options when available?

• Whom should you designate as your beneficiaries?

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Pensions

• How do your projected pensions affect your decision-making around other employer provided benefits?

• Should you participate in additional voluntary pension opportunities?

• What pension payment option should you select?

• Whom should you designate as your beneficiaries?

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Life Insurance

• How much coverage is right for you?

• Do you need supplemental coverage beyond what’s available through GE?

• How should you structure both the ownership and beneficiaries of your life insurance policies?

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• General estate document review

• Current estate tax law

• Portability

• Creditor/divorce protections for heirs

Estate Planning Overview

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• Powers of attorney • Health care power of attorney

• Living will

• Financial power of attorney

• Last will and testament

• Revocable trusts

General Estate Document Review

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• Save federal estate taxes

• Save expenses

• More control over asset disposition

• Creditor/divorce protection for heirs

Revocable Trusts

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• 2014 Exemption from federal estate tax: $5,340,000

• 2014 annual gift tax exclusion: $14,000

• Exemption is unified

• No sunset provision

Current Estate/Gift Tax Law

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• Allows transfer of a deceased spouse’s unused estate tax exemption to the surviving spouse

• Requires the filing of an estate tax return

• Does not apply to Generation Skipping Tax (GST) exemption

Portability

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• Extra exemption can be used to make gifts

• Deceased Spousal Unused Exclusion (DSUE) amount can change if survivor spouse is remarried and new spouse passes away

Portability

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• Increased importance on income tax planning

• Basis step-up

• Flexibility is the key

Increased Exemption and Portability

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• Under current Ohio law assets left to a beneficiary/child in trust without a right to withdraw are protected.

• Divorce: assets in the trust are separate property

• Other creditors cannot force a withdraw of trust assets

Creditor/Divorce Protection for Heirs

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• Beneficiary/Child can: - Serve as Trustee

- Make investment decisions

- Make distribution decisions subject to ascertainable standard

• Plan annually to manage income tax consequences

Creditor/Divorce Protection for Heirs

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Planning Opportunity – Donate Appreciated Securities

• Execute material charitable gifts with appreciated stock from taxable brokerage accounts

• Neither you nor charity pays tax on capital gain, as long as donated property has been held for more than one year

• Fair market value of the donated property is income tax deduction

Enhance portfolio tax efficiency

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Planning Opportunity – Roth Two-Step

• Make annual non-deductible traditional IRA contributions ($5,500 in 2014, with $1,000 catch-up)

• Non-deductible contribution creates basis

• Convert the traditional IRA to a Roth IRA, tax-free – now your growth will also be tax-free

• Watch out for existing traditional IRA balances

Enhance portfolio tax efficiency

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TruepointWealth.com/GE

TruepointWealth.com/GE

GE is an iconic company, known for boldness, confidence and big ideas. Truepoint’s GE Pre-Retirement Service is designed to create confidence for GE employees planning for retirement. Our approach is designed to shape a stronger financial future through good decision making today. Like how much to allocate to deferred compensation. How to diversify. The optimal ways

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• Scott Barbee: 513.792.6645 • s.barbee@truepointwealth.com

• Liz Niehaus: 513.792.3363 • l.niehaus@truepointwealth.com

• TruepointWealth.com/GE

• Jody Brant: 513.977.3473 • jsbrant@katzteller.com

• Whitney Maxson: 513.977.3462 • wmaxson@katzkeller.com

• KatzTeller.com

Contact Information

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Biographies

Eric Ross, CFP®, Financial Planning Specialist

At Truepoint, Eric leads the development and implementation of financial planning strategy and services. Eric joined Truepoint in 2013 after serving as Principal of Sequoia Wealth Counsel for 5 years. Prior to this, he spent a combined 11 years with Andersen Consulting and Deloitte

& Touche, and 4 years with UBS Financial Services. Eric is a graduate of The Ohio State University with a Bachelor of Science in Business Administration and is a Certified Financial Planner™ professional. He has been quoted by a number of media outlets, including The Wall Street Journal, Consumer Reports and CNBC.

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Biographies

Joel S. Brant (Jody), Attorney

At Katz Teller, Jody specializes in estate, wealth planning and tax law. Jody is also involved in entrepreneurship, family-owned and privately-held business groups. He assists clients and families with formation of entities, owner/shareholder relationships, business succession and other

related issues. He is involved in several leadership roles at Katz Teller, he is a member of the firm’s Board of Directors and sits on the benefits, finance, marketing, retirement plan and strategic planning committees. Jody is a magna cum laude graduate of Dartmouth College, received his law degree from Georgetown University, and LL.M. Taxation from New York University School of Law.

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Biographies

Steve Condon, CFA, President & Principal

Steve is responsible for Truepoint’s day-to-day management, guiding investment strategy and education, and introducing the firm to prospective clients and employees. Steve joined Truepoint in 2003. He started his career at Great American Financial Resources and IFS Financial Services,

focusing on the development and distribution of investment products. Steve is a magna cum laude graduate of Thomas More College. He earned an MBA in Investment Management from the Fisher College of Business at Ohio State University, attending as a University Fellow. He also holds the Chartered Financial Analyst designation.

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Biographies

Scott Barbee, CPA, CFP®, Wealth Advisor & Principal

Scott specializes in working with executives of Procter &Gamble and General Electric, leveraging his deep knowledge of the intricacies of retirement planning for their benefit. Scott joined Truepoint in 2005, bringing more than eight years of financial planning expertise honed

at Deloitte & Touche and the FTB Group of UBS. As a wealth manager at Truepoint, he essentially serves as a CFO for his clients and their families. Scott holds a bachelor’s degree in accounting from the University of Cincinnati. He is a Certified Public Accountant (CPA) and Certified Financial Planner™ professional.

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Biographies

Liz Niehaus, CFP®, Wealth Advisor

Liz focuses on financial planning and investment management at Truepoint. She is also at the helm of Truepoint’s Women’s Wealth Counsel. Liz joined Truepoint in 2007, bringing experience in commercial loans and asset management from tenures at Johnson Mortgage Services and U.S. Bank.

Liz is a graduate of Miami University with a bachelor’s degree in finance. She is a Certified Financial Planner™ professional.