While the lawsuit that led the Supreme Court finding the Defense of Marriage Act unconstitutional, United States v. Windsor, largely regarded tax laws related to inheritance, there were a number of additional implications the ruling had on same-sex couples across the country.
Most Americans who have been working for their entire adult lives have some plans regarding their retirement, whether that’s through a sophisticated savings plan or just keeping some money stashed between their mattress and box spring. Of course, many companies these days offer their employees an easy option to save in the form of a 401(k) or an individual retirement account (IRA).
Do estate taxes keep your clients up at night? Do they worry about the amount of money they can pass to their heirs? This is a common concern among high net worth individuals, many of whom worked extremely hard to generate wealth that gives them the peace of mind knowing their spouse, children and grandchildren will be taken care of once they’re gone. For married individuals, a Credit Shelter Trust (CST) may be the right solution to help them avoid estate taxes when passing wealth on to their beneficiaries.
Same-sex couples whose marital status changed under the historic United States v. Windsor Supreme Court ruling have had a lot to consider over the last year. Here are a few aspects of the financial planning landscape that have changed after the fall of the Defense of Marriage Act:
On June 26, 2013, the U.S. Supreme Court found that the Defense of Marriage Act was unconstitutional. With that single ruling, many doors opened for LGBT Americans across the country. Under the Supreme Court’s finding, the federal government can no longer discriminate against married lesbian and gay couples when determining federal benefits and protections.
In today’s technology-driven world, there’s a gadget or app for just about everything. More than just a trend, these tools can help you become more productive and improve your workflow – and, as an insurance professional, you know that efficiency is everything. Here are a few apps that can make you more efficient:
Who says we only get one successful career? Steve Spector, who has spent his adult life amassing a fortune in the life insurance industry, has reinvented what success can mean. Recently, he was featured in National Underwriter Magazine as the $2 Billion Man, and has partnered with HighCap Financial for nearly a decade.
When you’re speaking to your high net worth clients, they tend to take your opinion to heart.