Spousal Lifetime Access Trust(s) are ideal for married couples with a potential estate tax liability who want flexibility in their estate planning.
A Spousal Lifetime Access Trust allows one spouse to be a beneficiary of the trust, while the other spouse is the grantor of the trust.
A Spousal Lifetime Access Trust (SLAT) allows a client to make irrevocable transfers of assets.
There are several reasons a business may want to transfer ownership of a business or corporate-owned life insurance policy.
Before changing the ownership it is important to know the policy’s fair market value, understand any tax issues that may exist upon transferring ownership, and the best way to distribute the policy.
Indexed Universal Life Insurance is one of the most complicated life insurance products in the marketplace.
This guide explores the different factors that can have a significant positive or negative impact on a policy’s performance.
A sale to an Intentionally Defective Grantor Trust (IDGT) in combination with life insurance allows high-net-worth families to accomplish different wealth transfer goals with flexibility.
Learn how these techniques can help families solve wealth transfer, estate, and philanthropic planning goals.
Life Insurance Check-Ups: The Importance of Life Insurance Policy Reviews for Individuals & Trustees
People are used to getting checkups — portfolio reviews, an annual physical, trip to the dentist, and even regular car maintenance. But what about checking up on their life insurance policy?
Many times, life insurance policies are purchased and largely forgotten.
The Tax Cuts and Jobs Act (TCJA) of 2017 had several provisions that affect individual taxpayers.
Many of these provisions are set to expire at the end of 2025, reverting back to pre-TCJA law.
The 2019 Fingertip Tax Guide reflects tax changes related to individuals, businesses, retirement plan contributions, and more.
A Restricted Property Trust is used by successful business owners to reduce income taxes and grow assets.
The ability to make Before Tax Contributions, Defer Taxes on Growth, and Access Tax Advantaged Distributions makes the Restricted Property Trust an attractive alternative to other employer-sponsored plans.
The Tax Cuts and Jobs Act of 2017 was signed into law December 22, 2017, to benefit businesses, individual taxpayers, and families.
The primary beneficiaries of The Act are business owners of privately-held corporations and pass-through entities. As a result, most business owners now have more planning options.
Most insurance companies have announced their 2018 whole life insurance dividend rate and payout for the upcoming year.
This years announcement is trending with continued declines in declared dividend rates for most companies. Some companies have made it easy to learn what the dividend rate will be for the upcoming year. Others, prefer to hide the information or just not publish it at all.
There are certain inevitabilities in life. Like it or not, one of them is death. When our own mortality comes into question there are always challenges and questions we must confront.
The goal of every insured with a permanent life insurance policy should be to die with as little money in their policy as possible.
A Split Dollar Life Insurance Plan is a sophisticated strategy that can help with the payment of life insurance premiums for executive benefits and estate planning purposes.
Split Dollar can be a great tool for a company looking to provide additional benefits to key employees, or for individuals interested in minimizing gift tax for estate planning purposes.
A buy-sell agreement funded with life and disability insurance protects the owners of a business due to the death, disability, or retirement of its owners.
Buy-sell agreements are designed to protect the interests of all owner’s dictating when an owner can sell their interest, who can buy it, and what price will be paid.
Life Insurance with Long-Term Care helps individuals reduce their financial exposure to a long-term care event, while paying a death benefit to beneficiaries.
The combination of life insurance with long-term care helps protect what’s most important: the quality of your life and your heirs.
A Life Insurance Retirement Plan (LIRP) is a tax-efficient way for indviduals to save for retirement by providing income you can enjoy during your lifetime.
It effectively allows you to protect your loved ones while saving for retirement. It can be a good solution for high income earners maximizing qualified plan contributions.
How Your Permanent Life Insurance Policy Could Terminate Before You Die and What You Can Do to Stop It From Happening
Taking the time to complete a life insurance policy review can be critical.
Changes to policy dividend and crediting rates can have a significant impact on a policies performance.
Failure to do so can result in a policy lapsing before the insured dies.
Universal life insurance is the most flexible and inexpensive way for individuals to secure permanent life insurance coverage with cash accumulation.
Policy owners are able to adjust premiums and death benefits to meet their specific needs.
Life insurance owned by an irrevocable life insurance trust (ILIT) can be the easiest and most efficient way to reduce estate taxes and preserve your wealth.
When properly structured, proceeds from a life insurance policy are completely tax free.
Northwestern Mutual announces they will be laying off hundreds of employees by March 31, 2017.
This announcement comes a few months after Northwestern Mutual announced they will be reducing their dividend scale interest rate by more than 8-percent for all Northwestern Mutual dividend based insurance products.
Term life insurance is the easiest and most affordable way to protect against the financial loss of a parent.
Term life insurance is the most sensible solution to the problem most families are trying to solve – making sure your family would be financially secure if something happened to you or your spouse.
A convertible term life insurance policy allows a policyowner to convert a term policy to a permanent policy without underwriting.
This is a valuable benefit for insureds who need coverage beyond the guaranteed period of their existing term coverage. Especially if the insured has had a change in health or is no longer insurable.