The New Year promises to be a very exciting one as we will probably see some big changes in our country. President-Elect Trump has already been labeled the "Executive Eraser" and some of that needs to happen quickly.
For openers, it will be a good idea to visit with your investment advisor in the near future. Investment in defense related stocks and funds could do very well in a Trump administration given his statement of rebuilding our military. Given the fact that Republicans will control Congress for the next two years, this will probably happen.
Second-To-Die or Survivorship Life Insurance became a very viable product after the 1982 TEFRA legislation. This act allowed estate taxes to be postponed until the survivor passed away, and for the taxes to be paid at a discount.
Life Settlements are relatively young transactions in the insurance industry, but you can trace its origins back to 1911. Supreme Court Justice Oliver Wendell Holmes noted in his opinion that "Life insurance possessed all of the ordinary characteristics of property, and therefore represented an asset that a policy owner may transfer without limitation."
Hanging it up at age 60 or 62 sounds like a lot of fun! Wake up when you want to, tee it up once or twice a week and enjoy the grandchildren. Even though I will be 68 on Nov. 2, I'm not quite there yet. I can't buy enough liability insurance to get on the golf course!
In my previous article I discussed the benefits of tax-free exchanges under Section 1035 of the revenue code. Over the years, I have completed more than a few exchanges that truly helped the policyholder. Here are a few examples and one or more of these might apply to you: