• Life- Different Policies for each situation both personal and business
• Health Insurance – California’s open enrollment will run from October 15, through January 15. Medicare’s Annual Election Period Ends December 7th
• Disability- Fewer Carriers, Important to structure correctly – Physicians, Attorneys, Accountants, Business owners
• Long Term Care – People living longer, care giving expensive
• Estate Planning-
- → New Tax Bill passed in December 2017
- → Top rate – 40 percent
- → Exclusion amount indexed for inflation is $11.2 million per individual. $22.4 million for a couple in 2018
- → Intentionally Defective Grantor Trusts (IDGT) can be drafted as a “spousal limited access trust” or (SLAT) which is a somewhat clumsy way of saying: your spouse can have access to the trust, along with our kids and grandkids.
- → GRAT’s (Grantor Retained Annuity Trusts) and intrafamily loans remain effective estate planning strategies so long as interest rates remain low.
- → REMEMBER – THERE IS NOTHING PERMANENT ABOUT THE ESTATE TAX
- → Life Insurance 2nd to die – Single policy covers 2 lives
- → Premium Financing – Financial institution makes a loan to the insured to pay the premiums
• Life Settlements
- → Great opportunity to uncover investable dollars
- → General Description
- → 70 Years and older
- → Life Expectancy between 24 and 120 months
- → Pension Planning – Technically efficient strategies to enhance a company’s current Pension Plan that is bound by a Prototype Document