About Our Services
Advanced Concepts
The Tarnol Advisory Group utilizes advance concepts to help enhance and preserve your wealth.
Some examples include:
- Purchasing large life insurance policies with no out of pocket expense.
- Helping charities raise money through unique tax strategy planning.
- Double or tripling the value of your pension plan to your heirs.
- Investments that protect your principle from a down market.
- Lifetime income streams.
- Large umbrella policies for very high net worth individuals and families.
Case Study: Long Term Care
A couple needs long term care coverage, but they don't know where to find the funds to pay for the coverage.
The Problem
A husband and wife need Long Term Care coverage, but the annual costs are high.
The Solution
As their CD funds were currently earning only 1%, we looked into an alternative investment to help fund the LTC coverage.
Read this case study and see how The Tarnol Advisory Group helped to plan long term care coverage.
Download this case study in pdf format for later reading.
Case Study: Life Insurance
An individual's life insurance premiums are no longer enough to carry the policy for more than 5 years.
The Problem
75 year old gentleman with a $3,000,000 life insurance policy. The present premiums of $76,000 a year was not enough to carry the policy for more than five years, it would eventually lapse.
The Solution
Found a new policy for $3,000,000 at a cost of $100,000 and sold his old policy to a settlement company for $750,000. Went to a third insurance company with the $750,000 and purchased a life time annuity that paid him $112,000 a year for life.
The Final Result
He now has a $3,000,000 insurance policy that is guaranteed never to lapse, has an annuity pay the premium of $100,000 and has a $12,500 income for life. He has another $76,000 in his pocket that he was paying for the premium on his old policy totaling an increase income of $88,500.
Case Study: Roll Over IRA
An individual has a large roll over IRA, but has no current needs for the funds.
The Problem
70 year old male with $2,000,000 in his roll over IRA. At his death the income tax and estate tax to his children would amount to $1,600,000 (80% tax) leaving the children with only $400,000 of the $2,000,000.
The Solution
Roll the IRA monies into a newly established profit sharing plan. Have the profit sharing plan buy a new insurance policy for $5,000,000. In 5 years sell it to children for the cash value in the policy, with no future premiums due.
The Final Result
At death the children would have the $5,000,000 completely tax free with a small balance left in his IRA. Compare $400,000 to heirs vs. $5,000,000 to heirs.
The Tarnol Advisory Group has Specialists for Many Services
Long Term Care
New England Journal of Medicine recently reported that about 49% of people 65 and older will eventually need Long Term Care.
The Wall Street Journal states that nearly 50% of seniors 85 and older have Alzheimer’s or some other form of dementia, the number one reason for needing Long Term Care.
Harvard Magazine says that as men are living an average of 80.9 years and women are living an average of 84.5 years, modern medicine is creating a much higher chance that a person will need Long Term Care.
The average United States citizen is living longer because of advancement in medicine. This means a higher likelihood of needing Long Term Care. In addition to Alzheimer's and dementia, other degenerative diseases such as diabetes, stroke, heart problems, cancer, and Parkinson's Disease may also create the need for Long Term Care.
Annuities
With uncertainties in the market and our economy, few investments can offer both guarantees of principle and a fair market return than annuities.
Look at some of the key features annuities have to offer:
- Protection of your principle.
Holding an annuity to maturity guarantees you will never lose one dime of your principle. - Choose from many different investment options, from fixed to variable.
- Invest in the market, but never earn less than 0%.
Earn a fair return when the market is up, never earn less than 0% when it is down. - Protects your yearly growth from future down markets.
Any interest earned is locked in and cannot be lost the following year or years.
Life Insurance
Life insurance has many purposes:
- Family protection
- Business protection
- Asset protection
- Helps secure loans
- Used for retirement planning
Disability Insurance
Your most important asset is your ability to earn an income. Should you lose this ability due to sickness or injury, the effects can be devastating. Disability insurance (best known as Pay Check insurance) can replace a percentage of your income should an injury or illness effect your ability to earn a living.
- Individual policies from $1,000 a month up to $100,000 a month..
- Large lump-sum disability payouts for individuals and businesses.
- Business overhead policies (covers your office expenses while on claim, allows to keep your doors open, and even allows you to retain the business long enough to receive fair market value on a sale).
- Retirement policies that protect pension plans.
Individual and Group Health Insurance
The Tarnol Advisory Group works with all the major health insurance carriers to help you, your family and even your company find the best possible coverage for your current situation. With the current changes in our health care bill, it’s important to understand and keep up with the changes. The Tarnol Advisory Group is here to help.
Estate Tax Planning
Estate planning is one of the most important steps any person can take to make sure that their final property and wishes are honored, and that loved ones are provided for in their absence. Though often overlooked or put off in favor of more immediate concerns, a comprehensive estate plan can resolve a number of financial and legal questions that arise whenever anyone dies. Improper estate planning could create excess taxes and the immediate need to liquidate investments and properties to pay estate taxes.
Life Settlement
Most seniors do not realize that they have a very valuable asset in their life insurance policy. They may need money today to help pay for bills or health cost. The premiums may be too high and they no longer can afford it or they no longer have a use for the policy. Normally they would turn the policy back to the insurance company for whatever the company deems the policy is worth. Now there is a secondary market to purchase these policies and offer a higher competitive offer than the insurance companies.
Most people do not realize that their IRA's or 401k's have a double tax when left to their heirs. These taxes can be as high as 75-85% leaving their hers with only 15-25% of the total principle. By a simple planning method that re-characterized the asset the heirs could than receive sometimes as high as four times the present principle and receive it totally tax free. This strategy is for retirement plans with anywhere from $350,000 to $10 million in assets...It's imperative to start planning now to avoid these draconian taxes.
Strategic Trust and Tax Planning
Implementing the proper trusts and utilizing legal tax strategize allows you to pass the maximum amount of your assets to your heirs. TAG works with top Attorneys and CPA in these fields to help facilitate this.