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August 10, 2010     Beverly Hills Weekly
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** YOU TURN YOUR $1MILLION IliA INTO $1 OIIMILLION? I lf you are over 70 and have accumulated more money in your IRAs a~ul Pensions than you need to li~e on, A . . _ ! lan Ka~,e can show ?),ou how to create more mo~ for your heirs and~:. _ ... ja~n~ ct~anms than you ever anoapa~a2 At age 70~/2, people who have IRAs, Pensions and 401k plans are required to take minimum annual distributions that are subject to ordinary income tax. If you don't spend or give that money away, it could be subject to estate taxes as well. Mter income and estate taxes, those in the high- est- brackets could be leaving their families less than 1/3 of what they anticipated. Why bother to make "wise" inves~ents when it is likely "that more than half of your accumu~ted wealth will go to the government instead of your family? Simple $olotioust If you have a large amount of money in your IRA, you can gift your annual distribution ~to your family, Using that money to buy a life insurance policy that would create tax-free money for your heirs. In many cases, using the money to buy life insurance could give your heirs more than they would receive after-tax, by continuing to accumulate the funds in their retirement r plans. Assuming that your retirement plan earns a .return of 5% annually, you could withdraw that mount without diminishing the principal. One client witha $ lmillion IRA used his annual dis- tribution to buy $3 million of life insurance to - benefit.his family. If he doesn't spend the princi- pal~ his planis to leave the balance of his IRA to his own charitable foundation. Under current law, without life insurance, his $ ! million IRA would have to grow to more than $ l~0 million, so that after income and estate taxes, his family could get the same $ 3 million that life insurance would pay tax-free. What's more, he can now leave more money to charity than he ever expected to. Why wait for your $1 million retirement plan to grow to $10 million? As president of the Alan Kaye Insurance Agency and vice president of Barry Kaye Associates, Alan Kaye has hellmd thousands of people meet their goals by creating insurance plans that~best satisfy their needs. If you are over 70 years old and not maxi- the use of your assets, find out how life insurance can provideyou with the opportunity to leave more tax-free money for both your heirs and charities. Call for a complimentary consultation and be sure to ask when Alan Kaye's next seminar*will be held in your area. m. Ft (m3) www.alankayeins.com Nan bye Insurance Agency, inc. Associate of Bar0, Kay A~ocia~e~ Alan L. Kaxe~ CLU, ChF.C I~sident Alan Kaye Insurance Agency, .Inc. and NFP Securities, Inc. does not provideta or legal advice. The case study results are for illustrative purposes and applies to this client's specific set of facts: Your results may be different. Guarantees are oased on the claims-paying ability of the issuing company. Any decisions whether to implement these ideas should be made by the ctient in consultation with professional financial, tax and legal counsel. Securities and Investment Advisory Services offered:through NJ:P Securities, a Broker/Dealer, Member FINRA/SIPC and a Federally Registered Investment Advisor. Alan Kaye Insurance Agency, Inc .is an affiliate of NFP SeCurities, Inc., and a subsidiary of National Financial Partners Corp., the parent company of NFP Securities, Inc. 2009AtanKayelnsurance, lnc.Nat~nall:inanciatPartners - , CA Insurance License # 0465531 Page 20 Beverly Hills Weekly IIIINIIHIIIII~IIII IIIIHImIIlIII111111 IIIIIIIIUIII~I II l~ll IIll ~IIIIIl~l~ I~I Ii 1~I~IIII~ I~l