Five Takeaways from the 2025 National Association of Estate Planners & Councils Conference

This week I attended the National Association of Estate Planners & Councils (NAEPC) Conference in Washington, D.C. The sessions were packed with thoughtful insights, advanced strategies, and plenty of practical updates that will shape how we guide clients through complex estate, tax, and retirement planning decisions.

A beautiful sunset over the Potomac River with the Capital Wheel & this slightly terrifying sand sculpture called the Awakening. Cue the quicksand nightmares.

Here are my five biggest takeaways from the conference:

1. Many HNW People May be Underinsured. A recurring theme from several panels was that high-net-worth clients often have sophisticated trusts and tax plans — but inadequate insurance coverage. Umbrella policies, liability coverage for vacation homes, and proper ownership structures for boats or planes are sometimes overlooked. The takeaway: asset protection isn’t just about trusts or LLCs. It’s also about ensuring insurance policies match the client’s real exposure level.

   
   

2. I now have a new nickname for the "One Big Beautiful Bill [Act]" We reviewed the implications of the administration's One Big Beautiful Bill (aka OB3 and which is now, technically an Act, not a Bill). Since the Conference pulled from many areas of the country where property taxes are not in the stratosphere like here in New York, not many people were excited as I was about the SALT deduction increase. But, we did also review some charitable techniques that could take advantage of OB3.

   
   

3. Be Wary of Naming Non-US residents as IRA beneficiaries.  

   One practical but critical reminder: avoid naming individuals who live abroad as direct beneficiaries (including US citizens) of U.S.-based retirement accounts. The compliance headaches and withholding tax issues can be significant, and in some cases, distributions can even get trapped in international reporting delays. Best practice may be to name a Trust as the beneficiary of the retirement account with a US trustee managing the trust for the ultimate non-US beneficiary.

   
   

4. Small Business Owners May Want to Catch up on their Retirement Savings using a Cash Balance Pension Plan.

   For business owners — particularly professionals like doctors, dentists, and attorneys — cash balance pension plans continue to shine as a powerful retirement and tax-deferral tool. They allow owners to make large, deductible contributions (well above standard 401(k) limits) while helping key employees build meaningful retirement savings. These plans can pair well with succession and exit planning.

   
   

5. The National Harbor Area is a Conference Gem.

   I have been to DC plenty of times, but had never even heard of the National Harbor Area, which is relatively new. This is like the DisneyWorld of places to have a conference. It is right on the Potomac and is an area of Maryland that caters mostly to conference goers. The conference was held at the enormous Gaylord Conference Center which had its own world within it, but the surrounding area of National Harbor was walkable, enjoyable, and downright & spotless clean. Plenty of restaurants, pubs and little shops to enjoy within the conference world bubble. Not sure if anyone lives near there, though, since I did not see one grocery store or convenience store.

A quick 36 hour trip from NY and plenty of CLEs later, the NAEPC conference was a success! Feel free to reach out with any questions about the above.