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Business owners may appreciate simple plans with minimal administrative requirements. In this case, a profitable small business was seeking to create a key executive benefit plan for top management. This Restricted Endorsement Bonus Arrangement (REBA) was the answer.
For high-net-worth clients who want to provide for their children and grandchildren, there's a better option than cash gifts. Clients should consider allocating the cash into a life insurance premium that can accumulate cash value as a potential retirement supplement and more.
When a pass-through business owner asks about nonqualified retirement plans for owner and non-owner key employees, it’s usually best to treat groups separately. This document explains how the tax consequences of any nonqualified plan are very different for owner vs key employees.
Balancing inheritance equally among multiple children is a common estate planning topic. When one heir is inheriting a business, life insurance can provide a lump sum amount to the other heir. In this case, a split-dollar arrangement eliminated uncertainty and achieved fairness.
With record low interest rates and record high estate exemptions, now is an unusually good time for high-net-worth clients to implement an estate planning strategy that shields family wealth from taxation. See how the numbers work with future taxes on the horizon.
This a client-facing overview of ways a business owner can retain key employees. Moving from simple to complex, it covers endorsement split dollar, executive bonus with an option to add restriction and defined contribution supplemental retirement plan.
Three plans. One goal: help a business owner retain key employees. Moving from simple to more complex, these plans include and an endorsement split dollar plan, executive bonus plan with option to add restriction and defined contribution supplemental retirement plan.
As a key employee retention strategy, a defined contribution deferred comp plan can be established with select employees. The business owner can design plan options such as implementing a vesting schedule and determining payout terms based on company performance.
Business-owner clients seek your advice on a wide range of issues including buy-sell, key person protection, employee retention, and exit/succession planning. If these issues lie outside your core areas of expertise, this worksheet will help you spark meaningful conversations.
The Applicable Federal Rates and the §7520 Rate (AFRs) are published monthly by the IRS. Many wealth transfer strategies are more effective when rates are low. With historic lows, wealthy clients have a current opportunity to lock in strategies that leverage lower interest rates.
Business owners and individuals appreciate creative solutions that put their money to work for them. A cash value life insurance policy offers multiple benefits, making it an attractive alternative to other cash assets for clients wishing to maintain liquidity but still earn a greater return.
Sometimes it can take a little preparation to help an insurance carrier see the worth of a key person. By understanding what carriers are looking for, it’s possible to justify high face amounts on key person policies. This article will guide you through financial underwriting justification.