Posted by:
Jeff Reed on 4/24/2012
You can do that?...
Sure, we do it all the time. So what is the "it" in question? 1035 exchange a policy with a loan balance. While it is commonplace for us, it was news to the producer I was speaking with, and it is an area that can trip you up in a very, very big way. How big? How about creating a taxable event for your client despite a 1035 exchange being executed? Did I mention that there are no actual dollars in your client's pocket as a result and they still may have to pay some tax? Do I have your attention? I think I should.
Posted by:
Jeff Reed on 3/20/2012
The first half of my week last week was dominated by our annual meeting with our carriers. With over 250 people representing more than sixty agencies and in excess of fifteen carriers and other industry experts in one place, there was more than enough information to keep me busy writing each Friday for weeks. While we will drill down in to some of the specific topics in the coming weeks, there were two major topics discussed that impact all of us...
Posted by:
Jeff Reed on 3/13/2012
"You know everything…"
One of my producers accused me of that this week. He was mostly joking, but his point was clear – we talk about some interesting topics in this forum, and they usually make him think a bit. I hope that this week makes all of us think about how we illustrate IUL contracts, because someone went and crunched the numbers on an issue that I have been talking with my producers about for months regarding the illustration of income coming out of IUL contracts. What’s the issue?
Posted by:
Jeff Reed on 3/6/2012
Or a slap in the face? Maybe both in this case. Despite the fact that I devote most of my attention in these weekly postings to "advanced markets" topics, the truth of the matter is that I also work on a lot of "bread and butter" transactions. You know, the ones that keep the doors open and pay the bills so that we have the ability to work on some of the more challenging cases that provide the larger pay days. Today's post is about one of those smaller sales and the opportunity to stand out from the crowd.
Posted by:
Jeff Reed on 2/21/2012
"Top Ten Lists," or in this case, top five. I came across a list of the "Five Biggest Estate Planning Mistakes" written by a CPA out of Florida. He makes some excellent points about the types of issues we face with our clients every day.