Press Release

NEW BRITAIN, Conn. (May 17, 2010) – Hospital for Special Care Auxiliary will present “Estate Plan Tune-Up: The Impact of Pending Tax Changes,”a complimentary seminar on Wednesday, June 16 from 1:00 to 3:30 p.m. in the hospital’s Lower Level Conference Room. Seating is limited to 40 guests, and handouts will be provided.

Presenting speakers are Brendan T. Conry, ChFC, of Conry Asset Management, LLC in Kensington, and attorney Kenneth J. Carifa of Camp Williams & Richardson in New Britain. Both presenters are well known in the Greater Hartford area for their professional leadership and their involvement in numerous non-profit boards and charitable causes.

“The Auxiliary is pleased to be presenting this program as public service to families planning their estates,” said Gerry Devers, President of Hospital for Special Care Auxiliary. “This is an opportunity to ask questions of two experts who are donating their time and knowledge as a public service,” added Devers.

Tax cuts approved by Congress in 2001 and 2003, and signed into law by former President George W. Bush, are set to expire at the end of 2010.

“Nearly all of the Bush tax cuts—including individual rates, capital gains, dividends and the estate tax—will expire at the end of this year if Congress does not act to preserve the measures,” said Conry. “Implications for estate planning could be significant for many Americans; it’s a very uncertain landscape.”

Using a typical estate plan as an example, the presenters will cover what adjustments may be necessary now. Wealth preservation tools will also be discussed, including the use of the new Roth IRA.

“The main advantage of incorporating a Roth IRA into your estate plan is that your loved ones can inherit the Roth, tax-free,” said Attorney Carifa. “Traditional IRAs are taxed as ordinary income when left to heirs. Families need to be aware of the potential benefits of exploring the new Roth IRA as part of an effective estate planning strategy.”

Options for maximizing wealth transfer to future generations through revocable trusts and other trust vehicles will also be covered.

Conry Asset Management of Kensington currently manages over $150 million for 100 clients, including corporate retirement plans and non-profit foundations and endowments. Brendan Conry’s community service includes serving as chairman of the New Britain Museum of American Art where he led a nearly $30 million capital campaign for the museum’s expansion. Conry also chaired the recent Moreland Hill School capital campaign. His public service work also includes serving on a number of finance, investment and audit committees.

Kenneth Carifa is a partner with Camp, Williams & Richardson in New Britain. For the past 27 years, his practice has specialized in probate, trust, family law and banking, as well as residential and commercial real estate. Carifa is a member of the Connecticut and New Britain Bar Associations. His community service includes President of the Board of the Managers of the New Britain Institute and member of the Board of Directors of the New Britain Museum of American Art.

Please call (860) 832-6213 to register. A light lunch will be served. The seminar is offered as a public service, and there is no charge to attend. Registration will be taken through June 14.

About Hospital for Special Care:

As the only long-term acute-care hospital in the nation serving adults and children, New Britain, Conn.-based Hospital for Special Care is nationally recognized for advanced care and rehabilitation in the highly specialized areas of pulmonary care, acquired-brain injury, medically-complex pediatrics, neuromuscular care and spinal cord injury. Hospital for Special Care operates inpatient and outpatient facilities serving Southern New England on a not-for-profit basis. Please visit www.hfsc.org for more information.