Time to “Spring Clean” Your Insurance Portfolio

by Richard S. Bernstein on Mar 9, 2018

Life Insurance

It’s that time of year again. Spring is here and people are getting ready to clean out the clutter in their homes and in their lives. We look around and decide what stays and what goes. Maybe the style of our home needs to be updated, so we remove some furniture and replace it with something new. Perhaps too many belongings have piled up in the garage, so we get rid of them.

Buy-sell Agreement Funded by Life Insurance for Multi-Owner Businesses

by Richard S. Bernstein on Mar 2, 2018

Life Insurance

Recently, I met a business owner who found himself in the following circumstance. His business partner recently passed away. It was a week after the funeral, and his office was addressing how they were going to handle the loss to the company, both in an operations capacity and emotionally.

An Extraordinary Opportunity to Reform the Tax Code

by Richard S. Bernstein on Oct 27, 2017

Taxes, Estate Planning, Finance

On September 27, 2017, the Trump Administration, House Ways and Means Committee, and Senate Finance Committee released their unified framework for tax reform legislation.  The unified framework left a number of open issues such as the dividing lines for the different tax brackets and whether there will be a higher tax rate for the wealthiest taxpayers. 

Even Billionaires Buy Life Insurance

by Richard S. Bernstein on Apr 14, 2017

Life Insurance, Banking, Loans

Even Billionaires need insurance policies (40 billionaires claim dual residency here in South Florida, according to the 2016 Forbes’ World’s Billionaires list) to protect their vast assets, massive homes, golf courses, businesses and huge liquidity needs. The record for the largest insurance policy ever purchased was for $201 million dollars, bought by an unnamed Silicon Valley billionaire and confirmed by the Guinness Book of Records. The amount of the policy necessitated it being underwritten by 19 different insurers.