Planning Guide

planning guide

Sample Lottery or Inheritance Tools

Privacy Tools

There are numerous privacy issues that need to be tackled. Contact information, personally identifiable information, and sensitive estate information should be protected and concealed.

 

Thorough Pre-Planning

With our expert advice, worksheets and tools, we can help you thoroughly plan for a smooth lifestyle transition.

 

Never Outliving Your Money ProgramTM

Our premiere and proprietary process designed by experts here at NWS LLC (d/b/a LotteryCounsel) to design, implement and help you administer a diversified, financial engine capable of generating income and growth for the term of your life[lives] and beyond. Although we design many different financial plans, this NOYM Program is our pride and joy that you can only find here with us.

 

Meetings and Negotiations

You will no doubt have countless meetings with family, friends, organizations, charities, and other third parties. We are ready to assist and represent you in each of those meetings to ensure that they go smoothly and the meeting goals are amicably achieved.

 

Sample Legal Tools

Charitable Trusts

There are several different kinds of charitable trusts which can be implemented to achieve charitable giving goals, and decrease income tax and/or estate tax liability.

 

Asset Management (Gift) Trusts

Asset management or Gift trusts are typically setup for children or grandchildren that are more likely to misuse or abuse cash, investments or property left for them. There are many different varieties that can be taylor-drafted to your unique family circumstances.

 

Descendant (Gift) Trusts

Descendant gift trusts (a.k.a Crummey Trusts) are irrevocable trusts whereby you can gift annual exclusions now, but the beneficiary cannot touch the gifts (and subsequent earnings) until a designated point of time in the future as you preselect.

 

GST Trusts

A generation skipping tax trust is one that is necessary to make allocations against to reduce or eliminate the applicability of federal tax on transfers to a lineal descendant line below your children.

 

Estate Tax Minimization Program

There are many programs, tools, and trusts that can be employed to minimize or reduce perceived or potential estate tax liability at the first, and second spouse’s death.

 

Charitable Estate Tax Offset Program

This charitable estate tax offset program employs several tools and trusts to achieve a charitable goal, while reducing or elmininating estate tax exposure at death.

 

401(k) Program for small & mid sized businesses

Small and mid sized businesses who want to offer a low-fee, high-quality 401(k) program to their employees often face an insurmountable time finding one. With our numerous connections in the industry, we can recommend and refer you to a proven 401(k) leader that has low fees and top-notch service with only the best intentions for your hard-working employees.

 

Revocable Trust Creation and Funding

We can assist you in creating and funding a revocable living trust as the foundation of your estate plan. Or, if you have a revocable living trust and are not being serviced timely and consistently then we will be able to help you maintain and correct funding issues and lapses.

 

 

Sample Financial Tools

Single Premium Immediate Annuities ("SPIA")

An annuity with immediate status. The insurance company will accept a lump-sum premium, and then immediately start paying that premium back with interest over a certain period of time, or over the life of the annuitant.

 

Fixed "CD" Annuities

An annuity with deferred status. The insurance company will hold and pay interest to any premium submitted, after which such premium and interest will be paid back to the owner or beneficiary upon one or more occurrences [including, but not limited to: contract maturity or death of the annuitant]. Interest is typically paid at a guaranteed fixed interest rate.

 

Hybrid Annuities

An annuity with deferred status. The insurance company will hold and pay interest to any premium submitted, after which such premium and interest will be paid back to the owner or beneficiary upon one or more occurrences [including, but not limited to: contract maturity or death of the annuitant]. Interest is credited in a hybrid fusion of a fixed rate and indexed mechanism.

 

Fixed Indexed Annuities

An annuity with deferred status. The insurance company will hold and pay interest to any premium submitted, after which such premium and interest will be paid back to the owner or beneficiary upon one or more occurrences [including, but not limited to: contract maturity or death of the annuitant]. Interest is typically paid at a guaranteed fixed interest rate or adjusted positive index returns, as the owner elects annually.

 

Income and Death Benefit Riders

An income rider or death benefit rider are optional benefits that can be added to a fixed indexed annuity for an annual fee which is deducted from your interest or principal. The rider value usually grows at an enhanced fixed rate while in deferral. Once executed, an income rider will pay a guaranteed amount periodically for life, even if the account balance falls to zero. The income rider can be stopped at any time and does not tie up the underlying principal or interest within the policy. A death benefit rider will guarantee payment to beneficiaries of the greater of the accumulation value or the death benefit value.

 

Life Settlements

The purchase of sale of a life insurance policy to or from third parties, in the secondary market. Benefits include: potential for high rates of return, safety of principal, and tax leveraging.

 

Whole & Universal Life Insurance

A cash value based life insurance policy that can be paid-up or paid over a period of time. A death benefit is paid upon death. May be overfunded or used for lifetime income tax fee transfers.

 

Term Life Insurance

A leased policy whereby an insured makes guaranteed lower premium payments (than cash-value life) over a pre-defined term period. A death benefit is paid upon demise. Once the term is up, the premium rate is recalculated on an annual basis at the then-existing age and rates.

 

Long Term Care Insurance

A traditional insurance policy which will (in return for premium payments) offer benefits if ever confined to an assisted living or nursing home facility. Qualified expenses may be paid for a term period of time and up to a maximum exclusion level.

 

Long Term Care Annuities

An annuity with a long term care rider that earns fixed interest over a term period of time. Once elected, the long term care rider will allow the insured to access the cash values for qualified long term care expenses.

 

Real Estate Trust Deed Income Investments

A Trust Deed investment is a shorter term financial agreement between a borrowing business and private investors, secured by real property and the tangible improvements/assets thereon. The private investors are essentially replacing the ‘brick-and-mortar’ bank in the lending process, and raking in all the proceeds and benefits that the banks normally get. What makes this approach safer than other traditional real estate investments is the short-term nature of the Trust Deed relationship and the 'hard assets' backing-up your investment ("collateralized equity").

 

Real Estate Turnkey Rental Home Investments

An investment whereby a third-party turnkey company purchases, renovates, obtains a property management firm, and leases a residential home to a qualified renter. The investor then purchases the property from the turnkey company, usually at a discount; and may choose to flip or keep the income.

 

Turnkey Rental Homes

A marketing website which educates on the benefits and uses of a turnkey home investment. Link: Turnkey Rental Homes

 

Stretch IRA Program

An election that can be made to current IRA or ROTH accounts to allow the payment of benefits over the lifetime of the designated beneficiaries after a qualified owner's death. This approach can increase the inherited amount, and decrease net income tax over the lifetime of the average stretch beneficiary.