First Horizon Corporation · NYSE:FHN
First Horizon — Investor Presentation (April 2024)
13 slides from First Horizon's investor presentation, Apr 25, 2024
Slide 1: Secure Act 2.0: The Future of Retirement, Estate and Succession Planning
Secure Act 2.0: The Future of Retirement, Estate and Succession Planning April 25, 2024 * While First Horizon offers trust services, we do not provide legal or tax advice. You should consult your legal or tax advisor concerning your situation.
Slide 2: Our panelists
Our panelists Holley Cary, MBA, CFP® Lisa Cook Paul Jepson, CFP® CExP , ChFC, CLU VP, Senior Financial Planner SVP, Trust Advisor VP, Senior Financial Planner Bard Powell, CFP® CExP Casey D. Lawson VP, Senior Financial Planner Attorney, Mitchell Williams Law Firm 2
Slide 3: The Impact of the Secure Act 2.0 on Individuals
THE IMPACT OF THE SECURE ACT 2.0 ON INDIVIDUALS • New Employer Based Matching • Remaining 529 accounts • RMD Ages • Student Loans Financial Planning and Private Client Services Financial Planning services are provided through our team of CERTIFIED FINANCIAL PLANNER professionals, in partnership with
Slide 4: The Impact of the Secure Act 2.0 on Estate Planning
THE IMPACT OF THE SECURE ACT 2.0 ON ESTATE PLANNING • The SECURE Act of 2019, radically changed the estate planning landscape for retirement benefits. Most beneficiaries can no longer “stretch” distributions over their lifetimes. • Non-spouse beneficiaries who inherited IRAs on or after Jan. 1, 2020
Slide 5: Other Estate Planning Considerations
OTHER ESTATE PLANNING CONSIDERATIONS • Review retirement account beneficiary designations with your financial advisor, CPA, Trust Officer or estate attorney. • Consider how the Secure Act rules may impact inheritances and taxes. • Review your existing strategies and estate planning documents. Retire
Slide 6: The Secure Act 2.0 and Qualified Charitable Distributions
THE SECURE ACT 2.0 AND QUALIFIED CHARITABLE DISTRIBUTIONS • For tax year 2024, Qualified Charitable Distributions (“QCD”) enable individuals who are age 70.5 to fulfill their required minimum distribution by a direct transfer of up to $105,000 to charity. • The Secure Act 2.0 now allows in 2024, for
Slide 7: The Impacts of the Secure Act 2.0 on Businesses
THE IMPACTS OF THE SECURE ACT 2.0 ON BUSINESSES • Additional tax credit for automatic enrollment • Inclusion of long-term, part-time employees • Penalty-free withdrawals • Employers can now match student loan repayments as 401(k) contributions • Catch-up Contributions required to be Roth for those e
Slide 8: Stages of Business
STARTUP GROWTH Health and Disability Insurance Qualified Retirement Planning Stages of Property and Casualty Needs Employee Retention Strategies Business A Buy/Sell Agreement Key Person Plans Business Risk Assessment Business Owner Initial Estate Planning Click to edit Master text styles MATURITY EX
Slide 9: The Exit Planning Framework
The Exit Planning Framework SELL TO INSIDERS DETERMINE BUINESS + Key Employee/ VALUE Management Team * Benchmark Valuation + Family Member(s) * Cash Flow Projection * Current Personal Assets SELL TO A THIRD PARTY CREATE & CLARIFY EXIT OBJECTIVES ¢ Timing * Private Equity GROW BUSINESS VALUE + Strate
Slide 10: Why Consider a Corporate Trustee
WHY CONSIDER A CORPORATE TRUSTEE • Skill and experience managing trusts • Professional money management, transparency, objectivity • Agent versus Trustee • Co-Trustee • Successor Trustee • Preserving family dynamics: blended families, special needs, spendthrift • Continuity with checks and balances
Slide 11: Continue Caring for Your Loved Ones After You're Gone With an Estate Plan
Continue Caring for Your Loved Ones After You're Gone With an Estate Plan *While First Horizon offers trust services, we do not provide legal or tax advice. You should consult your legal or tax advisor concerning your situation. Estate Planning for Loved Ones - First Horizon Bank 11
Slide 12: Connect With Us
CONNECT WITH US STACY MATLOCK BETHANY NOTO LESLIE ROSALES Northwest Arkansas Northeast Arkansas Central Arkansas Stacy.Matlock@firsthorizon.com BNoto@firsthorizon.com Leslie.Rosales@firsthorizon.com 479-878-6346 870-934-4058 501-661-7723 Financial Planning and Private Client Services Financial Plann
Slide 13: firsthorizon.com/First-Horizon-Advisors
firsthorizon.com/First-Horizon-Advisors Firsthorizon.com/privateclient Insurance Products, Investments & Annuities: Not A Deposit | Not Guaranteed By The Bank Or Its Affiliates | Not FDIC Insured | Not Insured By Any Federal Government Agency | May Go Down In Value Insurance Products and Annuities: