William H. Byrnes, Esq.

About the Author

William H. Byrnes, Esq.

Prof. William H. Byrnes, Esq., LL.M., CWM, Fellow

Prof. William H. Byrnes, Esq., LL.M., CWM, Fellow, is the leader of Summit Business Media's Financial Advisory Publications, having been appointed July 1, 2010. He has been an author and editor of 10 books and treatises and 17 chapters for Lexis-Nexis, Wolters Kluwer, Thomson-Reuters, Oxford University Press, Edward Elgar, and Wilmington, as well as numerous commissioned, peer-reviewed, and law review articles. He was a Senior Manager, then Associate Director of international tax for Coopers and Lybrand, which subsequently amalgamated into PricewaterhouseCoopers, practicing in Africa, Europe, Asia, and the Caribbean.

He has been commissioned and consulted by a number of governments on their tax and fiscal policy from policy formation to regime impact. He has served as an operational board member for companies in several industries including fashion, durable medical equipment, office furniture, and technology. Since 1994, he has been a professional trainer for professional association conferences, government workshops, and financial service institutions in-house meetings.

Before Associate Dean Byrnes joined the administration of Thomas Jefferson School of Law, he was a tenured law faculty member at St. Thomas School of Law. He serves on the Academic Committee of the American Academy of Financial Management. He created the first online graduate program offered to wealth managers and life insurance producers without any legal background—see http://llmprogram.tjsl.edu (Graduate Program of International Tax and Financial Services, Thomas Jefferson School of Law).

Email: wbyrnes@nationalunderwriteradvancedmarkets.com

• The Not-So-Irrevocable Trust: Unlocking Trust Assets

  By Robert Bloink, Esq., LL.M., William H. Byrnes, Esq.  |  June 17, 2013

  There are many reasons a client might want to preserve an irrevocable trust, but after the fiscal cliff deal, there are equally strong reasons a client might prefer to terminate.

• In Medicaid Planning, Don’t Surrender Life Insurance—Trade It for LTC Instead

  By Robert Bloink, Esq., LL.M., William H. Byrnes, Esq.  |  June 3, 2013

  Your clients who are nearing retirement age might often wonder why they bother maintaining the life insurance policies they’ve funded for years. But under some recent state proposals, owning a life insurance policy can actually help clients in LTC planning.

• The Value of Variable Life Insurance: Surrender Charges and Fair Market Value

  By William H. Byrnes, Esq., Robert Bloink, Esq., LL.M.  |  May 28, 2013

  According to the IRS, the policy value equals the cash value of the policy without regard to any surrender charges. So what do your clients have to include in income if the actual cash surrender value of their life insurance policy is negative?

• Did Portability Kill the Credit Shelter Trust?

  By Robert Bloink, Esq., LL.M., William H. Byrnes, Esq.  |  May 20, 2013

  Clients need to remember that avoidance of transfer taxes is not the only reason that estate planning is important; the credit shelter trust can provide many non-tax benefits.

• Time Is Running Out for Social Security’s File and Suspend—Cash In Now

  By William H. Byrnes, Esq., Robert Bloink, Esq., LL.M.  |  May 3, 2013

  Looming changes to the Social Security system meant to shore up its pending insolvency have renewed the urgency of maximizing benefits for high-net-worth clients.

• An Effective but Overlooked Estate Planning Tool: IRAs

  By Robert Bloink, Esq., LL.M., William H. Byrnes, Esq.  |  April 23, 2013

  IRAs and Roth IRAs can be used to pass wealth to children and grandchildren, and to encourage retirement savings, but be sure to follow the rules.

• Estate Planning in the Age of Obama

  By William H. Byrnes, Esq., Robert Bloink, Esq., LL.M.  |  April 9, 2013

  With some common estate planning tools in the administration's budget crosshairs, how to fine tune your clients’ strategies.

• When Clients Outlive Their Longevity Insurance: QLACs

  By Robert Bloink, Esq., LL.M., William H. Byrnes, Esq.  |  April 3, 2013

  Favorable IRS treatment makes QLACs—deferred annuity products—more appealing, but their flip side is that the client may not live long enough to reap the longevity benefits. Treasury is proposing a solution.

• How to Evaluate Lower-Priced Guaranteed Lifetime Income VAs

  By Robert Bloink, Esq., LL.M., William H. Byrnes, Esq.  |  March 19, 2013

  Asset allocation is more important than ever in newer variable annuities.

• ESOPs: Great Tax-Wise for Business Owners, but Beware the DOL

  By Robert Bloink, Esq., LL.M., William H. Byrnes, Esq.  |  March 13, 2013

  Your small-business-owning clients may be looking for ways to reduce or defer the taxes they will incur should they sell their business. An ESOP strategy can work well, but be wary of DOL inquiries.