Like cash value life insurance, annuities, when structured properly, may offer tax benefits, asset protection qualities, and principal protection in ways that other asset classes cannot match. These advantages are especially applicable for those in or close to retirement and those concerned about outliving their capital or just “living off the interest.”
Without proper planning, clients with taxable estates can face transfer taxes of more than 40 percent. OJM is familiar with the leading methods, with or without the use of insurance products, for reducing or even eliminating the impact of transfer “death” taxes. We can also connect clients with our nationwide network of estate planning and tax attorneys to assist in the implementation of these solutions.
Buy-Sell and Business Overhead Insurance
One of the biggest risks to a closely-held business is the disability or death of a partner. The right type of insurance protection can shield the business, the injured/deceased partner’s family, and the remaining partners. OJM can review these coverages with the owner(s) of a business or practice and discuss how they fit into a well-planned business protection strategy.