Our Blog

Key Person Life Insurance

Posted by Mike Flynn on August 7, 2018

The irrevocable life insurance trust (ILIT), when structured properly, is a staple of estate planning for high net worth families. An ILIT can provide a means to make leveraged transfers to heirs free of both estate and income tax. Ideally, the trust is drafted prior to application for and purchase of the life insurance policy that it will eventually hold as its primary asset...

 

Read More

  

Transfer Life Policy to Trust

Posted by Mike Flynn on July 19, 2018

The irrevocable life insurance trust (ILIT), when structured properly, is a staple of estate planning for high net worth families. An ILIT can provide a means to make leveraged transfers to heirs free of both estate and income tax. Ideally, the trust is drafted prior to application for and purchase of the life insurance policy that it will eventually hold as its primary asset...

 

Read More

   

Deferred Compensation

Posted by Mike Flynn on June 8, 2018

A non-qualified deferred compensation plan is an agreement between an employer and an executive to defer the payment and receipt of compensation to the future for services performed today. The employer makes an unsecured and unfunded promise to pay the amounts specified under the agreement to the executive at some future date. Non-qualified deferred compensation can be utilized in both the employer/executive and the employer/independent contractor context...

 

Read More

 

Gifts to Minors

Posted by Mike Flynn on May 21, 2018

Helping a child with his or her education or support often requires gifts. Fortunately, there also may be income and estate tax savings to making gifts to minor children. Gifts can be made directly or indirectly to a child, or to a trust for his or her benefit...

 

Read More

 

Term and Permanent Life Insurance

Posted by Mike Flynn on April 23, 2018

Certainly term life insurance has its place. If you’re young or on a budget, term can be an ideal stopgap solution. It can provide you and your family with more coverage for less immediate premium outlay...

 

Read More

 

Planning for Farmers and Ranchers

Posted by Mike Flynn on March 8, 2018

While farmers and ranchers confront the same problems as any business owner regarding succession planning, wealth preservation and estate taxes, they also face many unique issues. Specific tax rules, regulations, and the nature of their industry requires a specialized focus and expertise when planning for such clients...

 

Read More

 

Choosing the Right Insurance Mix

Posted by Mike Flynn on February 16, 2018

Should you purchase term insurance or is permanent insurance the better buy? If you already own a term policy, should you convert it to a permanent plan, such as whole life? Or is a flexible plan such as universal life the way to go?

 

Read More

 

Asset Protection Strategies

Posted by Mike Flynn on January 7, 2018

Asset protection is about protecting assets before the need arises; it is not about protecting assets from existing creditors. In other words, the implementation of asset protection strategies is appropriate in situations where an individual is concerned about the claims of future creditors.

 

Read More