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Americans are living longer, healthier lives than ever before. By 2030, the Medicare-eligible population in the United States is expected to increase to approximately 69.7 million. It is estimated that one out of every two Americans turning 65 today will […]

Life insurance is an important, tax-efficient asset that can protect you, your family, and your business. It is crucial to review your needs for life insurance periodically, so you have the peace of mind knowing that your coverage is keeping […]

  One of the best ways to enhance your legacy and minimize your exposure to transfer taxes is by implementing a gifting strategy combined with an Irrevocable Life Insurance Trust (ILIT). Gifting, combined with an ILIT, also allows you to […]

The past few months of COVID-19 related events have had an impact on Credit Union-Owned Life Insurance (CUOLI). While a CUOLI policy helps mitigate some of the risk in the open market, the decline in interest rates, unstable stock market conditions and the decline in loan demand highlight that this is the perfect time to review and reassess CUOLI policies.

As recent events have proven, it is a best practice for nonprofit organizations to keep liquid reserves on their balance sheets for unexpected emergencies and opportunities. These reserves are typically held in cash at the bank, or invested in CDs, U.S. Treasurys, or short-term bonds.

Credit unions often invest in specialized, institutionally-priced permanent life insurance policies on the lives of their executives for up to 25% of net worth, in most jurisdictions. Permanent life insurance has both a cash value and a death benefit.

By now, anyone who has been paying attention knows that the 2017 Tax Act continues to create significant ramifications for nonprofit organizations, including credit unions.

Nonprofit leaders know that the road to making a difference is long, bumpy and difficult. Some would even say running a nonprofit can be more challenging than starting a typical business. Although nonprofits share many of the same obstacles as for-profit businesses, it’s important to address them from a unique perspective.

Estate planning often presents challenges for family business owners as they strive to plan for business continuity while simultaneously generating accessible wealth for their families. Ensuring their companies and estates have sufficient liquidity to meet their liabilities in the face of increasing tax rates and limited borrowing availability can place additional pressure on these owners.