Specialty Planning

Sometimes Simple Planning isn’t enough sometimes it’s the situation that dictates the type of product. Needs are not always simple. Sometimes we need to take a deeper look and delve into more detail. Our agency is used to working with your professionals, such as your attorney, tax advisor, and guardian to get the correct product to suit your needs.

Special Needs

Whether you have an individual with special needs, like our family does, or you're looking to elevate a tax burden on your heirs, we have the experience. Our office is very comfortable working with these types of challenges and has done so for years.

Second to Die Insurance
Parents who take out this type of insurance are thinking of their children, not themselves. For example, it could be designed to pay estate taxes or support any surviving children. It is often a great product to fund a special needs trust – giving a greater benefit at a lower cost.

Special Needs Trust
Although we don’t set up the SNT we can work with you and an attorney to help you get it right and have your wishes expressed in your trust. The trust will protect those service and assets of your special needs individual so they will continue to receive services

Government Benefits
We’ll help answer question for you and guide you through the maze of benefits from Social Security to Medicaid.

Something that should not be over looked – whom will make decisions for your loved one once you’re gone. If you’re working with your attorney or planning on applying for guardianship yourself we will help you put thought and make the process seamless.

Estate Planning

While it may be the last thing you want to think about, estate planning is an important step you can take to protect the interests of your family. A well prepared estate plan by our agency will help you ensure your wishes are carried out and your loved ones are taken care of.

Large Estates (in 2021) will pay Federal estate taxes on estates over 11,700,000 this may seem a lot but if your home is a high value, you own a business, and your retirement and investments you may see how quickly it adds up. The tax can be up to 50%. This number fluxuates every several years it has been as low as 1,000,000 in the past so looking not only the current tax number but planning for future changes is important

NJ does not have an Estate tax. In 2018 the state estate tax was abolished for individuals that passed after that date.

There is also an Inheritance Tax the % varies on your classification take an estate that is passed to a Class c ( this is a brother or sister ..) a Million dollar estate the beneficiary’s will have to pay 107,250.00 in taxes.
The Above Scenario’s demonstrate the need for proper planning remember most estates are not liquid even an estate that is a few million most likely will have real-estate and assets that you might lose money if needed to liquidate quickly – we can help you prepare and make sure your life’s earnings are passed on to your loved ones.

Business Financial Planning

Whatever your financial priorities are as a business owner, our agency has the resources and experience to address them. Our agents will work with you to have access to a comprehensive financial planning process that can help you synchronize personal and professional financial goals.

Buy-Sell Agreements If your business is a small business or partnership, then you can secure its future past the death of a key employee, partner, or co-owner with life insurance and an effective buy-sell agreement. Effectively the family of the partner that passes on receives the value of their Percentage of the business and the surviving partner is able to keep the business going without the burden of paying the deceased partners family causing a burden on the business, or worse, having inexperienced family becoming new partners.

"Key Man" insurance is a life and/or disability policy taken out by the business as a beneficiary in the event of death or disability to a particular key employee. This type of policy is also called: key executive coverage, key person coverage and key employee coverage. This could be a highly skilled person a doctor, programmer, someone who could not be easily replaced without a hardship on the company. They could be a specialty talented employee Artist, Designer, or craftsman. The policy works by paying the business in the event of the death or disability of a person who is so important to the business that their loss could destroy the business.

Other Types of specialty insurance

  • Split Dollar
  • Executive Bounce
  • Group Health Insurance
  • Business continuation Insurance
  • Deferred Comp
  • Individual IRA
  • Simple Pension

High Value Homes

High value homes may need a special type of insurance that meets insurance needs. High value homes are one of our specialties that help take your high value home and make sure you have the correct amount of coverage to protect it.

Features that may not be covered with a typical home policy. Items like Custom Moldings and Kitchens, high-end appliances, exotic wood floorings, stone work, Wine cellars and the wines.

We have carriers that specialize in protecting your property and your liability – caretakers and domestic help you need proper coverage.

Replacement cost – making sure that the home is restored back to its original glory.

Coastal & High Risk

Do you have a home or a summer home on the coast? Coastal property is not an issue; we try to package your home with other products to bundle your insurance and get you the best value for your money without compromising coverages.

Seasonal rental - make sure your insurance protects you most companies will not insure seasonal rentals. So if you’re a landlord and you use your home part of the year and rent it out other times. Don’t wait for a loss to find out you do not have coverage.

Secondary home that are just used in the summer need special coverage as well and can qualify for a discount when we pair it with other products

All insurance needs

Contact us for more information about how we can help you.

Information provided on this page is for educational purposes only and not intended as advise