Laura Thompson
About Laura Thompson
Posts by Laura Thompson:
It’s Time to Reconsider Life Insurance During Retirement
The conventional wisdom among investment advisors is that if clients have planned appropriately, they will not need life insurance in retirement. It is commonly thought that upon reaching retirement, they will be free of debt, have plenty of assets on hand to replace lost income and leave to heirs as a legacy. This sounds like […]
What are the Tax Implications of Code Section 1035?
Situation: In another Counselor’s Corner article, we discuss how Section 1035 permits tax-free exchanges of life insurance policies. That article provided a detailed discussion of how to structure a life insurance exchange to qualify for Section 1035 tax treatment. In a nutshell, to qualify or tax-free exchange treatment under Section 1035 the transaction must be […]
Exchanging a Cash Value Life Insurance Policy Under Code Section 1035
Situation: Many modern life insurance polices contain nonguaranteed features that must be managed and reviewed. Unfortunately, while consumers are aware of the need to manage and review their investment portfolios, financial advisors may find that clients have not reviewed their life insurance policies. When a policy evaluation is finally performed financial advisors may find a […]
The 7 Steps to Gift Transfers
Given the amount that an individual can give away without incurring gift taxes is at a historic high and the prospect that in the near future this amount could decrease significantly many of your high net worth clients may be considering significant lifetime gifts this year. There may never be such an opportunity again, but […]
Key Person Coverage: A Place to Start with Business Owners
Situation: In my work with business owners, I’ve often noticed financial advisors leading with buy-sell/business succession planning. Having a succession plan in place protects the owner’s family in the event of an untimely death, but for relatively new businesses or younger business owners such a conversation may fall on “deaf ears.” Even with more mature […]
