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By Jeffrey R. Kosnett, Editor, Advisor Today
We asked around and also thought ourselves about what will be the most influential financial planning and money management issues in the years ahead. It turns out these trends mainly trade off two events: the age wave and the extended, stock-market-led prosperity Americans enjoy but cannot rationally expect to be permanent. Here’s our analysis of the themes to watch, study, and use in your practice.
Edward W. Ramsell, CLU
Perverse? Yes. Logical? Absolutely! Real life? You betcha! Smart? No. At least not in the pickled worm sense. However, it makes eminent good sense in light of the prospect’s perceived problem and priorities.
Janet C. Arrowood
Our world of financial services continues to change by leaps and bounds. Soon, banks and insurance companies will be integrated entities, and maybe one day we will have at least some of our Social Security contributions invested in mutual funds (a story for another time). So we must change the way we do business.
Lawrence T. Jones, J.D.
An irrevocable life insurance trust (ILIT) is an effective estate planning tool. Married couples create ILITs to replace income in the event of an untimely death, pay estate taxes and administration expenses, and equalize inheritances among children. However, these trusts are often criticized as inflexible. A common complaint is that both husband and wife lose access to the life insurance policy’s cash value while they are alive.
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