Good planning starts with asking the right questions. This workbook will help you stay organized through the estate planning data gathering process. There is room to record client information such as current estate plans, objectives, existing insurance policies and other notes.

A product-based bonus plan allows an employer to pay for an insurance product on an employee's life. The employee owns the policy, but the employer may restrict access to cash value through a special policy endorsement, commonly referred to as “golden handcuffs.”

If aging business owners want to retain a key non-owner employee, a substantial lump-sum bonus tied to life insurance can be the solution. The business owns a policy on the employee and pays premiums, then enters an endorsement split-dollar agreement with the employee.

When someone plans to leave a charitable legacy, the typical approach is to include a bequest in the will. Instead, try using life insurance. Have the charitable organization purchase life insurance on the life of the donor or name the charity as beneficiary of an existing policy.

A charitable lead trust (CLT) is a “split-interest” trust with both an income and remainder beneficiary. The trust makes distributions to a qualified charity for either a specific term or the life of an individual. Upon death, remaining assets are distributed to the donor’s beneficiaries.

Estate planning is an important part of tax diversification, and life insurance can be an effective resource for achieving it. This example illustrates the benefits of the strategy with projected values and client options for coverage.

Getting protection for your clients’ long-term health shouldn’t start with a traditional insurance quote. LTC is a discussion about lifestyle, family and how clients want to spend their final years. Use this roadmap to increase the likelihood of finding peace of mind.

Just because an estate is too small to get taxed doesn’t mean it is too small to cause problems with heirs ill-equipped to handle wealth, sibling rivalries, divorce, lawsuits and more. Using a trust, clients can give heirs the benefit of wealth without direct ownership of wealth.

The Federal Reserve is expected to implement substantial rate cuts. This creates an opportune moment for clients to reevaluate their fixed income investments, as current elevated rates allow for locking in favorable long-term rates.

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.

Good planning starts with asking the right questions. This workbook will help you stay organized through the business planning data gathering process. There is room to record client information such as business valuation and succession plans, executive benefits and retirement plans.

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.