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Two Sure Things-Death and Taxes Q and A

Are taxes paid on policy distributions? Taxes are only paid on distributions (dividends, withdrawals, and partial surrenders) that exceed the amount of the policy owner’s investment in the policy. Are taxes paid on policy loans? No, because loans are not considered to be distributions from the policy, unless the policy lapses. What are the tax…

ABLE Accounts

Sequence of Return Risk By The Numbers

Sequence of return risk refers to the phenomenon by which a few bad years early in a retirement portfolio can cause havoc for the life of the portfolio. Sequence of return risk is only relevant if the portfolio amounts are changed by either an annual addition or withdrawal. Consider the following annual returns: We begin…


Reasons to Buy and Reasons to Avoid Annuities

In its simplest form, an annuity is a contract between the annuitant (the person who owns the annuity) and an insurance company. In exchange for the company’s promise to pay later, the annuitant agrees to pay now.As a financial tool, the annuity is as important in retirement planning as a hammer is to a handyman.…

Parts ABCD of Medicare Plans

Parts ABCD of Medicare Plans

Medicare was launched in 1965 to provide health insurance coverage for America’s seniors. It has become a very popular program with seniors and insurance companies. Like most government programs, it has grown and become far more expensive than ever envisioned. Roughly 60 million people are insured under Medicare. In this article I will walk you…

Man having chiropractic arm adjustment. Physiotherapy, sport injury rehabilitation. Senior man exercises in center for chiropractic.

Special Needs Trusts

A Special Needs Trust (SNT) is a trust set up for the benefit of someone with a disability. Trusts must be irrevocable with no written requirement that the beneficiary receives the income from trust assets to qualify as an SNT. Technically, there are two types of SNT’s. The vast majority of SNT’s are Supplemental Care…

Replacing an Existing Life Insurance Policy

Using Loans to Pay Life Insurance Premiums

Premium financing concerns borrowing money to pay life insurance premiums. While there may be multiple reasons to employ this strategy, it is often used to avoid liquidating other investments to pay premiums. It is important to remember that premium financed insurance is not the same thing as free insurance. Nor is it designed to allow…

Business people work with documents and computers at office table close up

Underwriting – Changes Coming

Underwriting is a process by which a financial institution evaluates the risk associated with insuring or lending to an applicant. In the case of life insurance companies, companies are taking a calculated risk on when they will need to pay a death claim. The industry has collected an enormous amount of data over the last…

Life Insurance in Pension Plans QandA

Transfers to Key Employees

Business succession planning for owners of closely held businesses can take many paths. For multiple reasons, a business owner may want to sell a business to key employees. Selling a business to a family member is a complicated process. Yet in comparison to the thought and preparation that accompanies a transfer to key employees, the…

Life Insurance in Pension Plans QandA

Transfer of Value for Life Insurance

A life insurance policy’s death benefit is usually paid to beneficiaries free of federal income tax. One exception to this rule is when a policy is sold or transferred for valuable consideration. In this scenario, the income tax exemption only applies to the purchase price plus premiums paid by the transferee. The death benefits less…



A critical issue for people in the estate planning process is the selection of people to handle their affairs when they die or become incapacitated. The key positions to be filled include executors, trustees, and guardians. This paper identifies what these people do, how to select them, items to consider, and legalities associated with the…


Evaluating Life Insurance Companies

When one commits to a life insurance policy, a person naturally assumes that the policy they were sold will be honored. Unfortunately, this is not always the case. Many universal life policyholders have found that their insurance company has changed the policy assumptions as a result of financial losses. The ultimate policy change is the…


ESOPs as an Exit Strategy

When a business owner begins to consider an exit strategy, the universe of strategies includes several options: Give the business to the children Sell the business to the children Sell the business to company management Go public Sell to a financial buyer (private equity or private investor) Sell to a strategic buyer (competitor, supplier, or…

It took a lifetime to build your legacy. Give us a call to see how we can help you preserve it.

It took a lifetime to build your legacy. Give us a call to see how we can help you preserve it.


Get in touch with Steve Goodman today

CPA, MBA – President & Chief Executive Officer