Protecting Your Family

Life can change at any given moment. Without proper protection planning, even the best laid financial plans can be derailed due to an illness, accident or death of a loved one. Whether it is the unexpected death of a spouse, the inability to earn an income due to an accident or illness, or the high costs of hiring an aid for additional care for a parent, a well-designed insurance program can help protect your family from a financial burden that could devastate a family’s assets. Planning may not only help reduce premiums, but will provide the comfort and confidence for years of financial security.

Life Insurance

Life insurance is an important part of a family’s estate plan and protects the people you care about most. In the unfortunate circumstance that you are not there to provide for your family, life insurance can. However, life insurance can be more than just protection. It can be the foundation of a stable financial plan.

The insurance marketplace is constantly changing regarding the products offered, the pricing of products, as well as underwriting criteria. Each insurance carrier classifies risk differently in terms of medical issues, financials, and lifestyle. We study these trends in order to find the most suitable carrier and product for each client’s coverage needs.

Disability Insurance

Whether it’s supporting your daily living expenses or funding your retirement savings, your ability to earn an income is critical. Disability income insurance is often the most overlooked insurance product, yet statistically the most important coverage in protecting your family. Individual disability income insurance will help replace a portion of your income and provide financial protection if you become disabled and unable to work for an extended period of time.

Long Term Care Planning

As health care costs continue to rise, a long-term illness can have a devastating effect on your savings. Long-term care planning delivers financial resources that help cover the cost of care for assistance in the activities of daily living that you may need in the future. The experienced LFG team can help determine if a long-term care strategy makes sense for your financial goals, as well as help build and design a policy that works for your budget.

Variable & Fixed Income Annuities

Annuities are not for everyone; however, they can play a vital role to defer taxation of nonqualified assets as well as provide a lifetime of guaranteed income. In today’s world of modern medicine and rapid technological advances in healthcare, people are living longer. The need for retirement income can last well beyond the traditional planning of 20 years. Annuities are insurance products that can provide a guaranteed income stream for life, as well as a protection of principal, depending upon the product and carrier. The experienced LFG team will help you navigate the pros and cons of each annuity contract to ensure an annuity makes sense for your financial goals and objectives.

Estate Preservation

A comprehensive estate plan is the key to effective asset preservation for today and well into the future. Typical estate planning issues include estate tax and income tax minimization, wealth transfer planning, long-term care and nursing home planning, special needs and disability planning, and probate avoidance. By carefully tailoring an estate plan that addresses your unique needs, you can protect your assets, provide for your family and establish a legacy.

* Estate Planning services are provided working in conjunction with your Estate Planning Attorney, Tax Attorney and/or CPA.  Consult them for specific advice on legal and tax matters.

Tax Reduction Strategies

Whether you’re concerned about current income taxes or federal and state estate taxes upon your death, there are strategies you can implement today to help reduce the tax burden. This could be through charitable gifting, making lifetime gifts, deferring taxes through life insurance or annuities, or with generation skipping transfer tax planning.

* Any discussion of taxes is for general information purposes only, does not purport to be complete or cover every situation, and should not be construed as legal, tax or accounting advice. Clients should confer with their qualified legal, tax and accounting advisors as appropriate.

Financial Position

Understanding your financial position is crucial, especially during life’s significant changes. Whether you are contemplating the purchase or sale of major assets such as a home or business, changing jobs, getting married or divorced, expecting a baby or facing the loss of a loved one, each of these events significantly impacts your financial landscape. Additionally, receiving a gift or inheritance can also alter your financial position. We provide experienced guidance to help you navigate these changes, ensuring your financial planning aligns with your evolving circumstances and goals.

Only Investment Advisor Representatives approved for financial planning may offer these services.

Risk Management

Our Risk Management services focus on protecting and securing your financial future. We thoroughly review existing property and casualty policies, life insurance policies, disability insurance policies, and long-term care planning needs to ensure adequate coverage, pricing and utilization. Additionally, we assist reviewing employer group benefit packages which could include optimizing Health Savings Account contributions to maximize tax advantages and ensuring efficient use of Flexible Spending Accounts for healthcare expenses.

Wealth Accumulation

Our approach to Wealth Accumulation is centered around reaffirming your investment goals and ensuring your strategy aligns with your long-term aspirations. A crucial part of our service involves reviewing your asset allocation and confirming it matches your appropriate balance of risk and reward. We also revisit your income and savings needs to ensure they support your financial objectives. Additionally, we assist in establishing education accounts to secure your family’s educational future.

Tax Management

Tax Management is a critical step towards optimizing your financial profile. This includes developing tailored income tax strategies that align with your financial goals and minimize tax liabilities. Our approach includes crafting capital gain and loss strategies to maximize the efficiency of your investments and overall financial plan. Our expertise in these areas is dedicated to enhancing your fiscal health and long-term wealth accumulation providing optionality for all future tax road bumps.

* Any discussion of taxes is for general information purposes only, does not purport to be complete or cover every situation, and should not be construed as legal, tax or accounting advice. Clients should confer with their qualified legal, tax and accounting advisors as appropriate.

Retirement Planning

We specialize in crafting comprehensive retirement plans tailored to your individual needs and aspirations. Our retirement planning services encompass a wide range of strategies, including maximizing Social Security benefits, creating a guaranteed income stream to ensure your retirement funds last, and conducting a thorough funding analysis during your prime earning years. Our team is adept at guiding you to maximize both 401(k) and IRA contributions, including catch-up contributions for those nearing retirement. For business owners, we offer expert assistance in establishing robust retirement plans that align with both personal and business objectives. Central to our approach is reviewing and refining your overall retirement income strategy, ensuring a seamless transition into your golden years.

Estate Planning

Estate Planning forms a crucial cornerstone of our services at Laffie Financial Group. Our comprehensive approach includes utilizing trusts to manage and protect your assets efficiently. We meticulously review beneficiary designations to ensure they reflect your current wishes and align with your overall estate plan. Our team will help you stay abreast of new tax laws to assess their potential impact on your estate plan and conduct thorough reviews of your estate documents, including wills and trusts, for up-to-date accuracy. We offer specialized succession planning for business owners, ensuring a smooth transition and continued legacy. Additionally, we analyze estate tax implications, strategizing to minimize the tax burden on your beneficiaries and preserve the value of your estate.

* Estate Planning services are provided working in conjunction with your Estate Planning Attorney, Tax Attorney and/or CPA.  Consult them for specific advice on legal and tax matters.