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Find out how you can plan & protect what’s most important.

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  • Annuities
  • Business Succession Planning
  • Estate Planning
  • Life Insurance
  • Longterm Care Insurance
  • Retirement Planning
  • Taxation
Effective Buy-Sell Agreements Article

Effective Buy-Sell Agreements Article

Privately held businesses with multiple owners present unique organizational and managerial challenges. Partners do not always agree on the business direction. Circumstances change, and people can change over the years. While most businesses wind down at some point, they are designed to be perpetual. The ownership change is inevitable as people retire, become disabled, or…

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Defined Benefit Plans for Small Businesses and the Self Employed

Retirement savings plans fall into one of two classifications: defined benefit (DB) plans or defined contribution (DC) plans. Hybrid plans, such as cash balance plans that contain characteristics of both, are considered defined benefit plans. Pension plans and Social Security are two examples of DB plans. Pension plans were once common among larger employers and…

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Comparing Popular Grantor Trusts

[Readers unfamiliar with Intentionally Defective Grantor Trusts (IDGTs) are recommended to read the IDGT article in this Estate Planning section before reading this article.] Grantor Retained Annuity Trusts (GRATs) and Intentionally Defective Grantor Trusts (IDGTs) are similar trusts used primarily to transfer privately held businesses and income producing property to future generations. Both are grantor…

Annuity

Buying an Annuity

Buying an annuity is not like buying a car or deciding which college to attend. There are numerous review websites, blogs, and books to help a buyer evaluate cars and colleges. There is no equivalent for annuities. There are no substitutes for knowledge and curiosity. Buying the product that best suits your needs requires that…

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Life Settlements

Introduction Life insurance is an assignable asset. It can be given away, transferred, or sold. With a life settlement, the owner of a life insurance policy sells the policy to a third party in exchange for cash. The owner receives less than the amount of the death benefit but more than the cash surrender value.…

Life Insurance Rider Alternatives

Life Insurance Rider Alternatives: Chronic Illness, Long Term Care & More

Many people are hesitant to spend their limited retirement savings on long-term care (LTC) insurance policy. LTC policies are ‘use it or lose it’ insurance. Unlike a life insurance policy, LTC insurance premiums are not guaranteed to remain the same over the life of the policy. They can be expensive with premiums showing large increases…

Life Insurance in Trusts

Life Insurance in Trusts

Life insurance trusts are a key tool for estate planning attorneys. Trusts enable donors to pass capital from a donor to his/her heirs at an enormous transfer tax savings. Policies held in trusts are not included in a donor’s estate, thereby reducing the estate tax liability. Proceeds from the life insurance policies can be, but…

Life Insurance in Pension Plans QandA

Life Insurance in Pension Plans Q & A

Life Insurance in a Pension Plan Q. Are unisex rates required when life insurance is bought in a pension plan? Yes, these are required. Unisex rates are the same rates for men and women. Q. Should I ask for an estimate of the economic benefit I will have to realize each year as taxable income?…

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Introduction to Annuities

Choosing an Annuity Annuities can be useful for creating retirement income by providing a “check for life.” There are many different types of annuities, including the following: A single premium immediate annuity, or SPIA This is the most common type of annuity. Once the premium is paid, the annuity will provide a consistent stream of…

Small Business

Intentionally Defective Grantor Trusts

While the name intentionally defective grantor trust (IDGT) may sound like an odd name for a powerful estate tax reduction technique, it is very descriptive. Trusts are subject to multiple forms of taxation. Two specific forms are estate taxes and income taxes. Estate taxes are assessed upon death. Income taxes are annual events. When one…

Long Term Care

Life Insurance: Giving It Away

Many people desire to make large charitable gifts during their lifetime but hesitate due to concerns about compromising their family’s financial security. Life insurance can help alleviate these concerns by enabling the donor to give to his/her favorite charity while providing for the donor’s heirs and beneficiaries. One common technique employs a life insurance policy,…

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Federal Tax and Long Term Care Insurance

Long Term Care Insurance (LTCi) policies that are federally qualified are subject to various tax treatments depending upon who is paying for the policy, who is receiving the benefit, and the age of the policy benefactor. The tax advantages described in this article are current with 2018 tax regulations, though readers should seek the advice…

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.

Steve

Get in touch with Steve Goodman today

CPA, MBA – President & Chief Executive Officer

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