Robert D. Cavanaugh, CLU is a 36-year financial and estate planning veteran and author of the free newsletter, "The Estate Preservation Advisor". For cutting-edge, easy-to-understand financial planning resources and techniques to increase your income, reduce taxes and preserve your estate, go to http://theestatepreservationadvisor.com/rd/subscribe.htm
The Buy-Sell Agreement: Why It Is The Simple Solution If you own a business, odds are the business represents a sizable portion of your estate. Therefore, planning for the orderly disposition of the business is an important planning consideration.The most basic element of the plan involves the use of a buy-sell agreement. It is astounding h... Source : Tips for Entrepreneurs
Home Sales: Do You Really Know The Tax Exclusion Rules? A single person can exclude up to $250,000 of the gain from the sale of their home and a married couple up to $500,000. However, there are qualifications, rules, exceptions to the rules and special situations. This article outlines the major rules and clears up many misunderstandings.... Similar Editorial : Want More Sales by Dean Phillips. | Source : Missouri Real Estate Contract
A Fund Raising Idea That Instantly Funds Any Special Project In the next few minutes, you are going to learn the steps to implement a fund raising idea that can raise significant cash within a very short time frame. As opposed to simply asking donors to dig deeper into their pockets, this fund raising idea provides tax and increased income benefits to the donor. If you are involved in any facet of nonprofit fund raising, you can use this technique, for...... Similar Editorial : Raising a Self by Rachel Paxton. | Source : Auto Bad Credit Loan Refinancing
Why An Individual Disability Insurance Policy Is Better Than Group LTD Millions of people are insured by group long term disability plans. However, there are drawbacks to this coverage and situations where the policies will not pay. Unfortunately, many group plans do not pay for the type of disability that is most likely to occur. Theoretically, you are covered.? But are you?Let's contrast some of the more important contract provisions in a group LTD plan and an...... Similar Editorial : Disability Insurance Income by Keith Mallinson. | Source : Cheap Insurance
How To Increase Your Income & Lower Your Taxes Given the fact that most seniors are interested in a secure income, reducing risk and lowering taxes, here is a planning technique to consider if you are trying to increase your income.Maybe you have a CD that is coming up for renewal and you discover the rate is going to be lower. You could have some stocks or mutual funds that were invested for growth and are thinking about selling some off and...... Similar Editorial : Residual Income by Peter Owen. | Source : 2005 Income Tax Table
Home Sales - Do You Really Know The Tax Exclusion Rules? A single person can exclude up to $250,000 of the gain from the sale of their home and a married couple up to $500,000. However, there are qualifications, rules, exceptions to the rules and special situations. This article outlines the major rules and clears up many misunderstandings.First, you must meet two tests: the ownership test and the use test.The Ownership TestThis test requires ownership...... Similar Editorial : Want More Sales by Dean Phillips. | Source : 2005 Income Tax Table
Smart Way To Sell Life Insurance Policy Most people do not know they can sell an insurance policy. There are companies that will pay you more than the cash value. Even term insurance, which has no cash value, is a candidate for purchase.This transaction is called a life settlement. Life settlements have been on the scene since 1995; they are not new. While the purchase is facilitated by an insurance company, the buyers typically are...... Similar Editorial : Correct Life Insurance Policy by Donald Carmin. | Source : Quick Quote Life Insurance
ILIT - The Irrevocable Life Insurance Trust Irrevocable Life Insurance Trusts (ILITs) are planning tools used to keep life insurance proceeds outside of the taxable estate.For example, if a married couple has an estate of 6 million, they can pass 4 million to the next generation with no tax if they set up the proper trust arrangement to take advantage of the maximum lifetime unified credits. That leaves 2 million still subject to tax under...... Source : Quick Quote Life Insurance
Five Uses For Survivorship Life Insurance Survivorship life insurance is a life insurance policy that insures two people and pays at the second death. Also referred to as second-to-die life insurance, common abbreviations are SWL for survivor whole life and SUL for survivor universal life.AdvantagesSince the insurance company does not have to pay until the second person dies, the premium is lower.The insurance company could issue a...... Similar Editorial : Whole Life Insurance by Adam Douglas. | Source : Quick Quote Life Insurance
Social Security Retirement Benefits Up to 85% of your Social Security retirement benefits may be taxable. Here’s how to find out how much is taxable and what you can do to reduce or eliminate any tax.Of all the financial issues surrounding being a senior, the one that tops the list in terms of anger is the fact that, depending on the situation, Social Security retirement benefits are taxable. My experience indicates that some...... Similar Editorial : Justify Social Security by Kemberly Wardlaw. | Source : Ira Tax Penalty
IRAs And Early Retirement Dual income families and megabucks 401(k) plans are common socio-economic trends that get today's Boomers thinking about early retirement. If you elect to retire early and roll your 401(k) plan into an IRA, how can you best set up a withdrawal plan?First, it depends on what kind of IRA you have. The rules differ for Roth IRAs. Second, it depends on whether you retire before or after age 59 1/2....... Similar Editorial : Investment for Early Retirement by Elton John. | Source : Ira Tax Penalty
Roth 401(k) Plans: Could You Benefit? Roth 401(k) plans were legislated into existence by the Economic Growth and Tax Relief Reconciliation Act of 2001. However, they were not set to begin until 1/1/2006 and were given a life span which lasted only through 2010.The Pension Protection Act of 2006 permanently extended the use of Roth 401(k) plans. Now it becomes more important to understand the advantages and disadvantages of these...... Similar Editorial : Roth IRA Accounts by Max Bellamy. | Source : Roth Ira Distribution
Who Should Be The Beneficiary Of Your IRA? You have a number of choices when it comes to selecting a beneficiary (or beneficiaries) for your IRA. Some are appropriate. Some are mistakes and can lead to delays and expenses in getting the funds to your desired recipients. Some may even exclude some of your desired beneficiaries. In addition, some elections are for estate planning purposes. Let's take a look at your options.No BeneficiaryNot...... Source : Sep Roth Ira
IRA Distribution Rules At Death The distribution rules required at the death of an IRA owner depend on several things:1. Did the IRA owner die before or after the “required beginning date”?2. Who is the beneficiary?In order to carry out the wishes of the IRA owner, evaluating both practical and estate planning implications of various decisions during the IRA owner's life is essential.? Important choices occur when the IRA owner...... Similar Editorial : IRA Distribution Rules by . | Source : Sep Roth Ira
Rollovers To IRAs - Rules, Tips And Cautions Rollovers can be a confusing subject. This is because rollovers can come from qualified plans, tax sheltered annuities, eligible Section 457 government plans and the five types of IRAs.Here, I will focus on rollovers that come from qualified plans such as 401(k), pension and profit sharing plans. The rollover will be to a traditional IRA or Roth IRA. Confining the explanation to a common rollover...... Source : Sep Roth Ira
Buy And Sell Agreement You have probably spent a lifetime putting your business together. Now allocate a couple of hours toward keeping it together for your heirs and circumventing a myriad of problems... Similar Editorial : Buy And Sell Agreement by Robert Cavanaugh.
