checklist – DBS

What Are the Most Popular Life Insurance Based Nonqualified Plans?

The post-COVID resignation boom has brought employee retention issues to the forefront. With turnover rates on the increase business owners are keenly aware of how difficult it is to attract and retain key personnel. The competition for superior technical, managerial, and executive talent is so fierce today that business owners are constantly faced with finding […]

Key Person Coverage: A Simple Concept with Underwriting Challenges

The hardest part in working with business owners is getting them to set aside time to talk about their life insurance. However, once the business owner agrees to meet with the financial professional, the next most difficult challenge may be determining the face amount of coverage and then getting the insurance carrier to issue the […]

Key Employee Life Insurance Checklist

Read our print-friendly PDF version The purpose of key employee life insurance coverage is to help indemnify a business for the loss of a key employee’s skills and experience in the event of the death of that person. Death benefits or cash values may be used to help recruit and train a replacement, to pay […]

Recent Modifications to Required Minimum Distribution Rules for Lifetime Distributions

Situation: Financial representatives know that clients who own IRAs or participate in qualified retirement plans must take distributions from their accounts according to the required minimum distribution (RMD) rules. The RMD rules mandate the timing and minimum amount an IRA owner and retirement plan participant must distribute both during life and after his/her death. Clients […]

Multi-Generational Estate Planning for Uninsurable Individuals

THE SITUATION A financial professional called DBS seeking estate planning advice for a very wealthy widow. The client had previously used most of her estate tax exemption and was still in good health . . . that is for a person 87-years old. THE PROBLEM Carriers have a maximum issue age which for most carriers […]

Year-End Planning Checklist

The end of the year is the perfect time to review financial plans with your clients. This year, many wealth planning strategies are on the chopping block and high-income earning individuals could see their tax rates increase in 2022. Therefore, potential changes should be considered when making decisions. As the end of the year approaches […]

Opportunity Knocks in 2021

The industry is constantly evolving, and we continue to see change in many areas that affect the work you do with your clients. The good news? With all of this change comes opportunity. Terri Getman, DBS Business Development Director, has laid out three big opportunities to take advantage of NOW. She’s also identified which of […]

The Four Levels of Gifting

Level #1: Transfers Not Subject to Tax There are several transfers that fall outside federal gift taxation. You can make the following transfers without facing a gift tax: Anything given to a U.S. citizen spouse as long as the transfer qualifies under the marital deduction1 Donations to qualified charitable organizations made in a manner qualifying […]

Less Now or More Later? Taxes, That is…

In 2021, you can give away more… The amount you can give away (gift exemption) without owing any federal gift tax is the highest it has ever been – $11,700,000. However, President Biden campaigned on raising taxes and has proposed to tax the transfer of property as low as $3,500,000 at a rate of 45%. […]

5 Ways to Make the Most out of Life Insurance Awareness Month

September is Life Insurance Awareness Month (LIAM), a nationwide effort put on each year by LifeHappens, a nonprofit organization dedicated to raising awareness about life insurance to help more families get the protection they need. You can celebrate with us — and boost your sales numbers in the process. Here are 5 great ways Take […]