Potential Tax Law Changes Under a New Administration

By David R. Foster, JD, AEP, CLU, ChFC, CAP, FLMI The 2017 Tax Act contained sweeping changes to the federal tax code for individuals, families, estates, and businesses. How long the Act will remain the law of the land is largely dependent on the outcome of the upcoming elections. The current administration has stated their [...]

Required Minimum Distributions (RMDs) and Coronavirus-Related Distributions in 2020

CARES Act Provides Options To Retirees As you may know, Required Minimum Distributions (RMDs) are required by tax law to be taken out of your IRA balances each year when you reach the age 72 (70.5 if you were born before July 1, 1949); however, due to the Coronavirus pandemic, you may consider changing your [...]

Enhancing The Value of Your Business Ahead of Your Succession Plan

By: David R. Foster, JD, AEP, CLU, ChFC, CAP FLMI The life cycle of a closely held business can be compared to that of your typical family home. When you are considering the purchase of a home you analyze location, price, size, current mortgage rates and the overall appeal of the home. You have a [...]

Buy-Sell Agreements Need Regular Check-Ups

By: David R. Foster, JD, AEP, CLU, ChFC, CAP FLMI Buy-Sell agreements are commonly implemented by business owners to place legal limitations and guidelines on future transfers of their business interests, thereby securing a smooth transition of the business. Properly documented buy-sell agreements also help to assure the continued success of the business by avoiding [...]

Building Flexibility into your Wealth Transfer Plan

By: David R. Foster, JD, AEP, CLU, ChFC, CAP FLMI “The only constant in life is change."Heraclitus Developing a strategy to accomplish your wealth transfer goals is a unique experience. Other forms of financial planning generally involve a known time frame to reach your goals. When you plan for your retirement, you probably have a [...]

Planning for Incapacity

Protect your Financial, Estate, and Business Goals from the Risk of Incapacity or DisabilityResearch by the U.S. Department of Health and Human Services estimates that about half (52%) of Americans turning 65 today will develop a disability serious enough to require long-term services and support. Long-term physical and mental incapacity can have far-reaching implications on [...]

Planning Your Charitable Gifts During A Crisis Event

By: David R. Foster, JD, AEP, CLU, ChFC, CAP FLMI During moments of crisis, be that a global pandemic, a natural disaster, or economic downturn, many individuals and families step up to provide support for those who are negatively impacted. They use their time, effort, talents and financial resources to help out those in their [...]

Impact of Low Rates and Market Volatility on Annuities

Today, about 50 Million Americans are retired – left the workforce to rely on their assets, social security, and pensions to maintain a comfortable lifestyle in retirement.  2020 is proving to be a year to test that word comfortable. For many, annuities are a great tool to plan for retirement.  After a lifetime of work [...]

Low Interest Rates Present Numerous Wealth Planning Opportunities

by David R. Foster, JD, AEP, CLU, ChFC, CAP, FLMI One of the few silver linings in the recent economic cloud is that interest rates are at historically low levels. In addition to mortgage refinancing opportunities and low payment obligations on variable loans, low interest rates present an opportunity to take advantage of certain wealth [...]

Families and Young Investors Should Consider These Financial Planning Opportunities

The Coronavirus has presented many unique challenges to every world citizen.  In response to the spread of COVID-19, a number of relief options have been made available to American taxpayers in an attempt to financially navigate our challenges.  We want to help you identify the opportunities within these options and focus on the valuable financial [...]

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