Long-term care planning is important for everyone, but it is arguably most important for women. Why? Longevity and caregiving. 1) Women live longer than men. Women outlive men by about five years on average. Women who are married tend to outlive their husbands. A woman born in 1960 has a life expectancy of 73 years, […]
Let’s face it: people are living longer than ever before. This increased life expectancy means that chances are high that many of your clients will be impacted by a chronic illness or an event requiring long-term care. Because of this, you need to prepare them financially. Continue reading our print-friendly PDF here.
Situation: Financial representatives who first start to work in the charitable market often have trouble understanding “How much can be deducted?” The confusion is understandable. While our income tax law encourages charitable giving by allowing charitable contributions to offset an individual’s taxable income, it also imposes annual limitations on the amounts that can be deducted. […]
What 6 topics should your family consider?
If you have spent much time listening to financial pundits, you are probably familiar with the phrase “buy term and invest the difference”. This hotly contested concept has been widely discussed in the financial industry for years.1
Situation: Using life insurance as a funding vehicle for a buy-sell arrangement gives rise to several potential tax traps, especially in out-of-the-ordinary owner/beneficiary structures. To this author it seems that more than almost any other area, buy-sell agreement funding, modification, and termination give rise to potential transfer-for-value traps. This Counselor’s Corner discusses some of the […]
Have the limitations of qualified plan funding reduced the ability of your business clients to provide highly compensated executives with retirement benefits? Would your business clients be interested in providing a supplemental benefit to a select group of key executives as long as the arrangement binds the executive to the company? Or, do you have […]
Situation: When the financial future of a business is dependent on the specialized skills, knowledge, or influence of a person or persons, the business should seriously consider acquiring insurance to help cover its potential loss at the death of such employee. Such insurance coverage is usually referred to as key person life insurance. A key […]
The hardest part in working with business owners is getting them to purchase the life insurance they need. However, once the buying decision is made, the next most difficult challenge may be getting the insurance carrier to issue the amount applied for. Packaging the case is critical, particularly when large amounts are being requested. The […]
We’re focusing this month on various business strategies as part of our quarterly theme Let’s Get Down to Business. A situation recently came across the desk of our advanced planning attorney that illustrates the distinct DBS advantage: we have the advanced resources that work for you and your clients! SITUATION A business owner wanted to […]