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Opportunities Through Buy Sell Reviews

Developing an exit strategy is a pressing financial challenge facing small-business owners. For businesses with more than one owner, the ability to successfully sell a business interest at retirement is often dependent upon the quality of their buy-sell agreement.

Secure Act IRA Max

Non-spouse beneficiaries of an inherited IRA must take all IRA assets as distributions within 10 years of a death. By purchasing a survivorship life insurance policy and taking systematic withdrawals from the IRA balance, clients can mitigate tax burdens.

Elements Of a Buy-Sell Agreement

Consider this your 101 on the role and basic components of a buy-sell agreement. This overview discusses forms of arrangements including a cross purchase plan, entity purchase plan and wait and see plan. You'll also learn about valuation, restrictions, transfers and more.

Business Funded Retirement Account

Due to contribution limits, successful, high-income business owners are disadvantaged under the rules imposed on qualified plans. A cash value life insurance policy insuring the business owner can serve as a business-funded retirement account to provide tax-deferred growth.

Product-Based Restricted Bonus Plan

A Restricted Bonus Plan is a combination of three planning tools: a Section 162 bonus plan, a restricted endorsement and an employment contract. The combination of these elements creates an attractive benefit for key employees while providing the employer with control.

Nonqualified Plans for Business Owners

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.

Business Owner Conversation Guide

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.

Guide to IRC 101j

It's possible to avoid the taxation of employer-owned life insurance. The general rule is that death benefits paid from a life insurance policy subject to IRC Sec. 101(j) are taxable when received. In order to avoid taxation, clients must qualify for one of several exceptions.

Using a Business to Fund Retirement

Unique businesses need unique plans, which includes creating plans that allow business owners to fund retirement. Use this reference sheet to learn three strategies to monetize a closely held business and the advantages and disadvantages for each approach.

High Face Key Person Coverage

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.

Institutionally Priced Corporate Owned Life Insurance

Many things keep business owners up at night, including taxation and protecting against the loss of key employees. Corporate-owned life insurance (COLI) can help with both. In this solution, we'll look at COLI as an institutionally priced cash value life insurance product.

Executive Carve Out Cheat Sheet

This discussion outline helps establish a need for business owners to create a guaranteed issue life insurance program. Common needs are buy-sell for businesses with a lot of stockholders or members, key person business protection or key employee benefit packages.