Moving Past the COVID Chaos: Tips for Your Insurance, Finances, and Business - June 26, 2020

June 26, 2020
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News. Insights. Analysis. Inspiration.

Today's Key Question:

The massive government spending due to the pandemic, has people concerned the estate tax exemption will be reduced or eliminated. Are you concerned about that? If so, see the article below by Jay Judas of the Life Insurance Strategies Group. He describes how you can use the benefits of a trust, yet keep control of your assets, with a BDIT.

Feel free to contact me with questions.


"Nothing short of miraculous: The housing market continues to hold up"

From CNN Business:

* Despite the spike in unemployment that has occurred during the pandemic, Miller noted more Americans are taking advantage of low mortgage rates since the Federal Reserve has cut interest rates to near zero levels.


"As FAA Won't Require Face Masks, Airlines Begin Cracking Down"

From Travel Agent Central:

* While U.S. airlines in May announced that it would require employees and passengers to wear face coverings for the duration of their trip, the Federal Aviation Administration (FAA) said it won't require the wearing of masks on commercial aircraft, continuing to leave that decision to individual airlines, according to USA Today.


"How to Help Customers Navigate the Pandemic's Emotional Challenges"

From Think Advisor:

* Even though being helpful is rather simple, not many of us find it easy to speak about much other than sports, the weather, or the boss’s limitations. This is where professional salespeople can come into the picture to play a role. Unfortunately, as it turns out, those in sales, are both an undervalued and underused business resource. When it comes to connecting with people, few others are better prepared than are salespeople for engaging others in helpful and sympathetic conversations. Before rolling your eyes and passing this off as another crazy idea, consider the following:


"Tier One: What is a BDIT?"

From Life Insurance Strategies Group:

* In the past two years, I have noticed an increase in the amount of our clients whose estate planning attorneys are forming a beneficiary defective inheritor’s trust (“BDIT”) to maximize the high federal estate tax exemption, currently $11,850,000 per person, in order to transfer assets with significant appreciation potential. Typical assets selected include those entitled to substantial valuation discounts, such as interests in limited liability companies and family limited partnerships. The BDIT includes many of the benefits of a traditional trust but does not require you to give up control of your assets, including property.


Here's a short video from Steve on how you can purchase insurance in these changing times....Watch Here