A Professional Association of Insurance and Financial Advisors

NAIFA-Broward e-Courier
August 2022 Edition

President’s Message

Last week I attended The2022 Financial Sales Symposium which was held in Orlando at the Reunion Resort July 14-15, it was our first in-person meeting since the pandemic.  The speakers were phenomenal, and it was an absolute pleasure seeing and intermingling with colleagues.  I was particularly impressed with Rowdy Gaines, “Dedication and Commitment Through Hard Times”.  His topic was very relevant in today’s tough times, and taught us that if we want something badly enough, we will do whatever it takes – even practicing eight years for Olympic gold.

NAIFA’S Sales Summit for producers, Apex 2022, will be held at the Arizona Biltmore on August 17-18, 2022.  Apex isn’t about product training, but an event to teach you to focus on yourself and your performance, thereby increasing your productivity.

We look forward to seeing you all at NAIFA-Broward’s next meeting.  It will be a hybrid, (zoom and in-person), panel discussion held at the Fort Lauderdale Country Club, subject is “The Future Of Property Insurance in Florida”.  Lunch is included and we will have door prizes.

If you are interested in becoming more involved in our Chapter, or if you have any questions, kindly contact our NAIFA-Broward Association Executive Rhonda Milrot 954-753-2262 or rhonda@naifa-broward.org 

Submitted by:
Michele Thomas, BSC


The Future of Property Insurance in Florida

Hybrid meeting (in-person and via zoom )
on August 17th, 2022 

Tim Meenan, P.A. 

Dan Daley
Florida Representative

Lee Gorodetsky, LUTCF, CLF

Presenters:Tim Meenan, NAIFA-Florida Lobbyist, Lee Gorodetsky, Vice President Marketing and Sales – US Assurance,  Dan Daley – Florida State Representative 

Join us for an important meeting to learn about the future of property insurance in Florida including the roof replacement issue.  Our panel is uniquely qualified to present the state of Florida Property Insurance. We will discuss this important issue from the legislative, property insurance provider and the agent’s perspective. 

Do you own your home?  Do you have clients that own their homes? Then this meeting is a must attend!  Learn about the future of homeowners given the recent news of the carriers exiting.  Also hear from our State Lobbyist Tim Meenan on the issues we are advocating for right now and how you can be a part of the process!  August 17th Live luncheon meeting in Plantation or attend via zoom. Please forward this to your fellow agents. Hope to see you there!

Date: Wednesday, August 17, 2022

Time: 11:30 AM – 1:00 PM

Zoom registrants will receive a confirmation email containing information about joining the meeting.

Location: The Fort Lauderdale County Club
                  415 County Club Circle
                 Fort Lauderdale, FL 33317 

Pre-Registration is required, RSVP today

Zoom registrants will receive a confirmation email containing information
about joining the meeting.


Membership Report


    If you are not currently a member, or know someone that might want to Sample NAIFA, here’s a great way!At NAIFA, we’re all about strengthening the insurance and financial services industry by helping advisors grow their knowledge and be their best at serving clients.

    That’s why we’re offering you – the non-member – free access to NAIFA’s advisor development program so you can learn from the best while sampling professional benefits that come with NAIFA membership.

    Register for the class and access our video archive featuring our NAIFA Advisor Ambassadors.

    NEW PROGRAM IN 2022: Our 2022 offerings will grant you access to watch any of our archived sessions.

    Sign up here:  https://belong.naifa.org/ambassador

    Reach out to Michele Friedlander to find out more about how to get your firm to 100%.  Visit the site: Belong.NAIFA.org

Submitted by Michele Friedlander, RHU, REBC
Immediate Past President, Membership Co-Chairperson, & Sponsorship Chairperson

Welcome New/Reinstated/Transferred Members

Andre “Andy” Mckenney, The Money Coaching Bar
Raul Despian, State Farm

National Committee and IFAPAC Chair Report

The NAIFA-FL Financial Advisors Sales Symposium featured nationally known keynote speakers, insightful educational breakout sessions, and a high-powered panel discussion by members of NAIFA’s top national leadership, including President Lawrence Holzberg, LUTCF, LACP, President-Elect Bryon Holz, CLU, ChFC, LUTCF, CASL, LACP, Secretary Tom Cothron, LUTCF, FSCP, and CEO Kevin Mayeux, CAE

L to R

NAIFA- Broward Members attending the NAIFA-Florida Symposium:  Steve Estler, Michele Thomas, Joe Chalom and Khadein Newman.  Missing from photo Sean Gruber.

These in person connections are complimented by the opportunity to meet virtually and the on-demand offerings on www.naifa.org.  I suggest you consider taking a fresh look at how NAIFA can enhance your professional development, and grow your practice. 

The Mid-Terms are approaching and the need to connect to legislative candidates intensifies.

I encourage you to visit https://advocacy.naifa.org/2021-naifa-congressional-conference-on-demand-archives to learn more about our advocacy efforts.

Please email joe@retirementcouncil.com if you have a relationship or connection with any current or future legislators.  

Submitted by:
Joseph Chalom
National Committee Chairperson

Health Report 

Study Group Report 

Watch Out for These Potential Problems with Life Estates

Life estates can be an excellent tool for Medicaid planning, probate avoidance and tax advantages, but there are potential problems. Being fully aware of potential pitfalls is the function of a good attorney.  

In a life estate two or more people each have an ownership interest in a home, but for different periods of time. The person holding the life estate, usually the person who previously owned the property prior to executing the Life Estate, possesses the property during his or her life. The other owner, or the remainderman, has a current ownership interest but cannot take possession until the death of the life estate holder. Recall that ownership and possession are two different concepts. Imagine a rental home where the landlord owns the home, but the tenant has possession of the home for a defined period of time.

Life estates are excellent planning techniques for many circumstances. They permit parents to pass ownership in their homes to their children while retaining absolute possession of the property during their lives. By executing a life estate deed, the home avoids probate at the parents’ deaths, is protected from a Medicaid lien, and receives a step-up in tax basis. A step up basis means that the remainderman would inherit the home at the then current market value, effectively canceling any potential capital gains tax.

However, there are potential issues that may arise with life estates and it’s important to fully understand the following risks:

  • As a life tenant, you may not easily sell or mortgage the home with a life estate interest. The remaindermen must all agree if you decide to sell or borrow against the property.
  • If the home is sold, the remaindermen are entitled to a share of the proceeds equal to what their interest is determined to be at that time. There is a table that attorneys use to determine the value of the interest.
  • It is not as easy to remove or change a name once it is on a deed to real estate as it is to change the beneficiary on a life insurance policy or bank account.
  • Once a remainderman is named on the deed to your house, he or she has an interest in the home and his or her legal problems could become yours. For example, if your child, who is a remainderman, is sued or owes taxes, a lien could be filed against your home. Your child’s interest in the home is not protected if he or she files for bankruptcy. If your child gets a divorce, his or her spouse could claim all or part of your child’s interest in your home. Should your child die before you do, the child’s estate would have to go through probate unless at least one other remainderman was listed as a joint tenant. However, while these claims may be made against the home, no one can kick you out of it during your life.
  • Giving away an interest in property could disqualify you from receiving assistance from Medicaid should you require long-term care within five years of the transfer. This is because you “gifted” a portion of your home to someone other than your spouse, without obtaining fair market value. In addition, if you and the remaindermen were to sell the property while you were in a nursing home, Florida could have a claim against your share of the proceeds for payments it has made on your behalf, but the share of the proceeds allocated to your children would be protected.

As with most planning tools, a life estate can be very useful with valuable benefits, but it is not for everyone. In some cases, the potential problems outweigh the benefits. As the law in this area is complex, it’s important to talk to a lawyer who knows about this in-depth.

Submitted by Yoni Markhoff, P.A.
Study Group Chair

Community Service Report 

All giving is local – SOS Children’s Villages Florida (SOS) opened in 1993 to care for abused or neglected  children.  They are home to 72 foster children ages birth 18.  At SOS, special emphasis is placed on keeping biological siblings together.

At one of the most difficult times in their young lives, the Village offers a safe and supportive environment for foster children.

On-site programs include mental health counseling, a behavioral step system program in each home, entertaining activities, tutoring, a mentoring program, independent life skills classes, and Next Steps services for youth who have aged out of foster care and transition to life beyond SOS.

We hope to work together to provide children in need with the very best chance to realize their full potential and thrive as healthy, happy, contributing members of our society.

Are we not blessed by having children who have a home, a warm meal, parents, whether natural or otherwise, who love them?  Siblings who stay and play together.

Share that same feeling with a child from SOS Village Florida – Right here in Coconut Creek. 

Donate you time, clothes, money?

$25 would offer them a child a small birthday party & cake

$50 provides them with diapers

Or how about a gift which will last a lifetime:

$100 provides 8 children a week’s worth of math / reading tutoring

$500 delivers a meal for the entire village è 72 children.

Become a mentor. Offer to cook a meal for a family – right in their home.

WAYS TO GIVE | sosvillage (sosflorida.com)

I invite you to read about SOS Village.  Make them a part of your school time giving.  You’ll be glad you did.

Submitted by Patricia A. Martinez, MBA, LUTCF, CLTC
Community Service Chair

Multiline Report 

Life Insurance Poem
(Author Unknown)

Now I lay me down to snore,
Insured for several thousand more.
If I should die before I wake,
My spouse would get his first real break.

But should I live for 20 years,
My spouse and I need shed no tears.
We can retire and fish and rest;
Back comes my money with interest.

In our old age we can keep our house,
And not live with our daughter’s spouse.
So thank G-d for the great endurance,
Of the person who sold me life insurance.

Submitted by Susan Luskin, FLMI, CLU, CEBS, RHU, ChHC

Our Sponsors

Visit our website at  https://naifa-broward.org  for the latest news and updates. For more information, contact NAIFA-Broward, Association Executive Rhonda Milrot, at (954) 753-2262, e-mail rhonda@naifa-broward.org, or fax (866) 813-6695.