Posted by William Byrnes on September 28, 2010
Although regulation of insurance generally has been left to the states, the Wall Street Reform Act may foreshadow future federal oversight of the industry. The Act creates the Federal Insurance Office (FIO) within the Treasury, which will monitor all components of the insurance industry—excluding the health, crop, and long-term care sectors.
Today’s analysis by our Experts William Byrnes and Robert Bloink is located at AdvisorFX Journal The Federal Insurance Office
Posted in Insurance | Tagged: Business, Federal Insurance Office, Financial services, Health, insurance, Long-term care, Regulation, Wall Street | Leave a Comment »
Posted by William Byrnes on September 27, 2010
Life insurance ownership has hit a fifty-year low, according to the August-released Trends in Life Insurance Ownership, a LIMRA study administered once every six years. But do the economic clouds have a silver—or better yet, gold—lining?
Today’s analysis by our Experts Robert Bloink and William Byrnes is located at AdvisorFX Journal Life Insurance Ownership Hits Fifty-Year Low
Posted in Insurance | Tagged: Agents and Marketers, Business, Business and Economy, Financial services, insurance, Life, life insurance, United States | Leave a Comment »
Posted by William Byrnes on September 23, 2010
The traditional private annuity is a transaction used by some wealth managers for clients whose circumstances permit. Generally a private annuity transaction occurs where the grantor transfers assets to a third party who pays the grantor an annuity, usually for the life of the grantor.
When a trust is involved with a traditional private annuity, the common transaction may look like this: “The owner of highly appreciated commercial real estate transfers the property to an irrevocable trust in exchange for the trust’s promise to pay an annuity for life. The present value of the annuity equals the fair market value (‘FMV‘) of the property. The trust then sells the property to a third party for a sale price equal to its FMV.” For additional introductory discussion on private annuity contracts see AUS Main Private Annuity.
Planning Concept: Some wealth managers have recently begun to structure private annuities for their clients slightly differently than the traditional methods. For a discussion and analysis, please see AdvisorFYI
Posted in Estate Tax, Insurance, Trusts | Tagged: annuities, Business, Contract, Financial services, insurance, Life annuity, Pension, Real estate | Leave a Comment »
Posted by William Byrnes on September 21, 2010
Why is this Topic Important to Wealth Managers? Estate Planning almost always involves some consideration of legal trust(s). It is essential that wealth managers understand the purpose for trusts and the ways trusts can be used in a comprehensive financial plan. By example, ILITs can be “an effective estate planning device” because, “life insurance proceeds [are not included] in the insured’s estate.”
We invite you to read about some common uses of trust in estate planning, such as Irrevocable Life Insurance Trusts, and analysis at AdvisorFYI.
Posted in Insurance | Tagged: estate planning, Estate Planning and Probate, financial planning, ILIT, insurance, life insurance, Wealth Management | Leave a Comment »
Posted by William Byrnes on September 19, 2010
Life insurance ownership has hit a fifty-year low, according to the August-released Trends in Life Insurance Ownership, a LIMRA study administered once every six years. But do the economic clouds have a silver—or better yet, gold—lining?
Today’s analysis by our Experts Robert Bloink and William Byrnes is located at AdvisorFX Journal Life Insurance Ownership Hits Fifty-Year Low
After reading the analysis, we invite your questions and comments about policies maturing after age 100 by posting them below, or by calling the Panel of Experts.
Posted in Insurance | Tagged: Agents and Marketers, financial planning, Financial services, insurance, Life, life insurance, producers, Wealth Management | Leave a Comment »
Posted by William Byrnes on September 10, 2010
A capitalized entity sale to an intentionally defective grantor trust, utilizing the leveraged purchase of fixed-term life insurance policy to be owned by, and controlled for, the successor generations in order to ensure the efficient maturity of the plan.
Today’s analysis by our Expert by Don Goode, CMO is located at AdvisorFX Journal Avoid Transfer Taxes with a Capitalized Entity Sale to an IDGT.
Posted in Insurance, Uncategorized | Tagged: grantor trust, insurance, tax planning | Leave a Comment »
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