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Read our print-friendly PDF version The combination of depressed market values and the historically high gift/estate exemption of $12,920,000 (2023 indexed) opens the door to significant wealth transfer planning opportunities for high net worth individuals and their families. While making a gift of an amount equal to a large part of, or all of, the […]
By Terri Getman, JD, CLU, ChFC, RICP, AEP (Distinguished) On December 29, 2022, President Biden signed into law the more than 4,000-page spending bill. In addition to funding the government to September, the legislation included provisions of what has been called SECURE 2.0. The SECURE 2.0 package is full of popular reforms that have been […]
By Terri Getman, JD, CLU, ChFC, RICP, AEP (Distinguished) Situation: Public policy makers face a problem – how to pay for the cost of long-term care for people who are no longer able to take care of themselves. With the chances of needing long-term care services exceeding fifty percent for individuals turning 65 today, the […]
Situation: A financial representative called her dedicated DBS Case Design Analyst with concerns about balancing the life insurance and long-term care goals of a married couple. Her client’s husband refused to attend a planning meeting to discuss long-term care, but always attended meetings in the past. The client was very interested in discussing long-term care […]
Read our print-friendly PDF version Businesses are born when the market has a need and someone has a great idea for meeting the need. A product or service is developed and offered to the public. Over time, the skill, knowledge, leadership, and experience of the business’s key people make it possible for it to grow […]
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 […]
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 […]
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 […]
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 […]
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 […]
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