Business Owners Posts

What Are The Different Types of Life Insurance Policies?

Life insurance policies can be very simple or extremely complex given the circumstances. Much of this is a function of the type of policy and how it is being used.

Irrevocable Life Insurance Trust (ILIT) for Estate Planning

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.

What is a Life Insurance Retirement Plan (LIRP) and How Does it Work?

A Life Insurance Retirement Plan (or LIRP) is a tax-efficient way for individuals to save for retirement by providing income you can enjoy during your lifetime.

The Definitive Guide To Split Dollar Life Insurance Arrangements

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.

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Naming Your Life Insurance Policy Beneficiary – Things to Consider

One of the most important parts of owning a life insurance policy is naming the beneficiary.

Properly naming the beneficiary of a life insurance policy can be a key decision to ensure the proceeds are distributed and used properly.

We have compiled a list of questions and answers to help provide additional guidance.

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Ultimate Guide to Buy Sell Agreements with Life Insurance

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.

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Guidelines for Transferring Business Owned Life Insurance

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.

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