Substantial risk of forfeiture, exposure to claims of creditors, large balance sheet accruals and embarrassing lump-sum payments on the front page of your local paper. Does this sound like an optimal retirement accumulation plan for your highly compensated physicians and executives?
Read MoreTags: Supplemental Retirement Plan, Physician Supplemental Plans, 457(f) Plans, 457(b) Plans, Non-Qualified Plans
If you are a person with a need for large amounts of life insurance, whether for tax planning (income or estate), liquidity planning, estate balance or income, here are 5 questions you should investigate before entering into a transaction.
Read MoreTags: Life Insurance, Premium Financing, High Net Worth Planning, Funding Life Insurance Purchases
Not a lot of assets?
Got a big IRA account?
No use for a Trust? Wrong!
Most everyone is familiar with the rule that you must take an actuarially determined “required minimum distribution” from your Individual Retirement Account” in the year you turn age 701/2 and each year thereafter.
Read MoreTags: Individual Retirement Accounts, Qualified Plan Trusts, IRAs, IRA Taxation, Retirement Plan Trusts
While driving to see a client not too long ago, I heard a commercial for a local investment advisor on a local radio station, ostensibly a recording of some thoughts on how his firm might plan for a young couple in the event the husband was to die in the near future. Both husband and wife were employed. They had two young children.
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Section 457(b) and 457(f) plans are the most common supplemental retirement accumulation plans utilized by tax exempt organizations. While many provisions apply to both models, the rules applicable to 457(f) plans are particularly onerous. Here are 8 ugly facts about Section 457(f) plans.
Read MoreTags: Supplemental Retirement Plan, Retirement Planning, Executive Compensation, Physician Supplemental Plans, 457(f) Plans, Not for Profit Supplemental Plans
Many publicly traded companies have provisions in their compensation policies and employment contracts that require bonuses be paid back and recovered by the employer under certain circumstances.
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The Obama Administration recently released its federal budget for fiscal year 2016 proposing several tax law changes, which, if enacted, could significantly increase your federal income, capital gains and/or estate tax exposure. Although Congress may not take action on these proposals, they may provide some insight into potential areas of consideration for future tax reform legislation. Some of the more notable proposals include:
Tags: Taxes, Estate Tax, Estate Planning
So often we hear the excuse, "I can't afford to buy life insurance."
The reality is that because life insurance is tied to thoughts of one's own death, there is an automatic mental barrier to its purchase. This can be offset by focusing on the living benefits of life insurance, which today include accumulation of cash surrender value that grows in many ways: interest credited by the insurer, performance of stock indexes or performance of funds that directly invest in various markets and companies. These funds can be utilized for emergencies or to provide retirement income.
Studies have shown that Americans don’t plan well for retirement. Whether it is, “What am I going to do with 40 to 60 hours a week of leisure?” Or, “How much will it cost to fill that open time?” It is likely that you have not put pencil to paper, perhaps not even have it on your radar. Remember that a great plan requires time and effort.
Tags: Retirement Planning
The Boston Herald recently published an opinion piece by Barry Koslow that focuses on some of the problems the Massachusetts retirement system is facing. Here’s how the piece begins:
Tags: Supplemental Retirement Plan, Funded Retirement Income, Retirement Planning
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