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When there is time to plan, the use of a Sinking Fund (some of us call this a savings account) can be a way to accumulate money for the ultimate buy-out. A Sinking Fund is when the buyer sets dollars aside to accumulate to the purchase price in advance of the sale. These funds are often held in an interest-bearing account and, depending on the time frame, the sinking fund may or may not have accumulated the funds needed by the time the
You can help cover the financial loss your business would experience at the death of a key employee by insuring your key people. Key person insurance can be used to: Keep lines of credit open. Train another employee for the same specialized skills. Assure the completion of ongoing project initiatives. Provide access to policy cash value through loans and withdrawals, which your business can use to meet
An Executive Bonus Plan, also referred to as a Section 162 plan, allows a business to provide personally owned life insurance as a tax-deductible fringe benefit to select key employees. If the benefit is for a non-owner employee, an executive bonus plan is appropriate for all business forms, including professional corporations, partnerships and LLCs. However, this type of plan does not offer any tax benefit for business owners if the business
A Split dollar plan offers a creative solution to helping your key employee obtain needed life insurance. Split dollar is a term that covers two different executive benefit arrangements. The Split Dollar Economic Benefit arrangement provides an income tax-free death benefit to the key employee while providing the business with key person protection. The Split Dollar Loan arrangement provides
Having a formal buy-sell is important, but just as important is making sure the money is there to complete the buy-sell. There are a number of ways to fund a buy-sell agreement: Cash on hand Unfortunately, cash (surplus cash!) is not always available when its needed most and depending on your business, the amount may be substantial. Sinking fund Think of this as a savings account. With this method, money is set aside
National Life Group Agents Please go hereand then login in to the Agent Portal to access all of the training material. Behind the Scenes: Split Dollar Loan for an Owner (Powerpoint) Behind the Scenes: Split Dollar Loan for Key People (Powerpoint) Split Dollar Implementation Guide Cat. 104522 Technical Guide to Split Dollar Cat. 64467 Split Dollar 101 Recorded
National Life Group Agents Please go hereand then login in to the Agent Portal to access all of the training material. Behind the Scenes: Split Dollar Loan for an Owner (Powerpoint) Behind the Scenes: Split Dollar Loan for Key People (Powerpoint) Split Dollar Implementation Guide Cat. 104522 Technical Guide to Split Dollar Cat. 64467 Split Dollar 101 Recorded
National Life Group Agents Please go hereand then login in to the Agent Portal to access all of the training material. Behind the Scenes: Split Dollar Loan for an Owner (Powerpoint) Behind the Scenes: Split Dollar Loan for Key People (Powerpoint) Split Dollar Implementation Guide Cat. 104522 Technical Guide to Split Dollar Cat. 64467 Split Dollar 101 Recorded
Interest working for you now in a regular savings program is much better than having interest work against you in the future in the form of education loans.
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