Category: Articles

Many employers offer their employees the option to obtain life insurance coverage as part of their benefits package. The convenience of skipping a medical exam or the benefit of having your employer offset some of the premium is an appealing one, but is this the best choice?

While group life insurance can be accessible, it may not always be the most cost-effective or comprehensive solution. Deciding whether to purchase life insurance through your employer requires evaluating your health status, understanding the cost differences between group and retail life insurance, and determining which coverage better suits your unique needs.​

A Power of Attorney (POA) is an essential legal document that grants someone the authority to make decisions on your behalf. These decisions can be financial, legal, or related to healthcare. While it’s often associated with aging or illness, the truth is that many people, regardless of age or health, can benefit from having a POA in place. In this blog, we’ll explore why a POA is valuable, who should get one, when it might be an appropriate time to do so, and what other legal documents should be considered.

When planning for retirement, one of the biggest challenges retirees face is market volatility. Sudden downturns in the stock market can severely impact a retiree’s investment portfolio, especially if withdrawals are being made during these periods of decline. However, retirees who include life insurance as a non-correlated asset in their financial strategy can smooth out their income streams and preserve their asset base during market downturns. Here’s how life insurance can play an integral role in stabilizing retirement income.​

In recent times, the workforce has witnessed a monumental shift often referred to as the “Great Resignation” or “Great Attrition”. This phenomenon described the mass exodus of employees from their current jobs, as they sought greener pastures or explored alternative career paths. While this seismic change in the employment landscape has largely fizzled out, there are many lessons to be learned from the reasons behind the movement and employees would be wise to take heed of these lessons for the future.​

As individuals navigate their financial journeys, especially in the years leading up to retirement, it’s crucial to explore every avenue for creating income streams and optimizing financial flexibility. One such strategy that often flies under the radar is utilizing 72(t) withdrawals from retirement accounts. While primarily designed for retirees, 72(t) withdrawals can also be a valuable tool for those not yet in retirement, offering a way to access retirement funds before reaching the traditional retirement age without incurring early withdrawal penalties.

As planning professionals, we’ve seen firsthand the importance of careful and deliberate estate planning when it comes to the execution of gifting transactions. Waiting until the last minute to effect complex or even seemingly simple gifting transactions can lead to unintended consequences that can undermine even the best-intentioned estate plans. ​

In the wake of the global COVID-19 pandemic, the importance of life insurance has become more apparent than ever to not just older Americans but also younger adults. A recent study conducted by non-profit LIMRA found that nearly half of all Gen Z (those roughly between the ages of 18 and 26) and Millennials (those roughly between the ages of 27 and 42), numbering some 53 million people, recognized the need for life insurance and believed they did not have enough insurance coverage.

A well-designed buy-sell agreement is a crucial component for businesses aiming to secure a smooth transition of ownership in the face of unforeseen events. Traditionally, buy-sell agreements have been designed as either cross-purchase agreements or stock redemption plans, each with their own benefits and drawbacks depending on the specifics of a given business.

With January 1, 2026 on the horizon, there’s a significant planning opportunity to be taken advantage of prior to the sunsetting of the temporary increased lifetime gift and estate tax that was part of the Tax Cuts and Jobs Act of 2017. Taking advantage of the current exemption levels, while also leaving enough time for thoughtful planning, can lead to significant tax savings and provide an opportunity to strategically transfer assets with high growth potential out of the taxable estate.