At Alternative Vibrance, we understand that retirement planning is a crucial aspect of achieving long-term financial security. Our comprehensive retirement solutions are tailored to help you navigate the complexities of retirement planning, ensuring you can enjoy a comfortable and fulfilling retirement.
Every individual has unique retirement goals and financial situations. Our personalized retirement planning services begin with an in-depth analysis of your current financial status, future aspirations, and risk tolerance. We work closely with you to develop a customized plan that aligns with your lifestyle and retirement dreams.
Whether you are a family owned operation or a multi-billion dollar enterprise, the death of an owner can deliver a crutial blow to the continuity of a business. Having a buy-sell agreement facilitates a smooth transition of ownership to the surviving owners.
Life Insurance is a cost effective and relatively simple way to fund a buy-sell agreement. Funding through life insurance is potentially guaranteed and tax free in most cases.
Without a buy-sell agreement, the heirs of a deceased owner will inherit that owner's shares of the company, even if they do not wish to be involved in the business. A buy-sell agreement ensures a buyer for their inherited business interest, relieving them of the obligation to take on an ownership role. This also safeguards the business from having shares sold to individuals outside of the current ownership.
Surviving business owners need to have funds available to buy shares from the legal heirs. Borrowing funds at expensive interest rates, liquidating business assets or using personal property as collateral to fund the purchase all have inherent risk and negative impacts.
Attracting, retaining and rewarding employees can be challenging. Certain employees are essential to the life of a business and keeping them committed is essential. With executive, owner, or key team member departures, your business could be affected by:
• Poor employee morale
• Loss of key accounts
• Diminished earnings
A unique benefit option to promote employee retention, that does not have to be offered to all team members, is an executive bonus plan. Executive bonus plans use life insurance to provide a combination of death benefit protection and potential cash value accumulation, for little or no cost to the employee.
This strategy is designed to reduce turnover by rewarding key employees with a unique and exclusive benefit that provides protection for their families during their employment, and later, a potential supplement to retirement income.
Key person insurance is a type of life insurance policy that a business purchases on a vital employee, such as an owner or a top executive. This insurance provides a death benefit to the company if that individual passes away, helping to protect the business from financial loss due to the loss of their expertise or leadership.
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Disclaimer: ALTERNATIVE VIBRANCE/PNG SMART SOLUTIONS IS NOT ENGAGED IN RENDERING LEGAL, TAX, OR FINANCIAL ADVICE OR SERVICES VIA THE SERVICE. ALTERNATIVE VIBRANCE/PNG SMART SOLUTIONS IS NOT A FINANCIAL PLANNER, BROKER, OR TAX ADVISOR. The Service is intended only to assist you in your financial organization and decision-making and is broad in scope. Your personal financial situation is unique, and any information and advice obtained through the Service may not be appropriate for your situation. Accordingly, before making any final decisions or implementing any financial strategy, you should consider obtaining additional information and advice from your accountant or other financial advisers who are fully aware of your individual circumstances.
Disclaimer: ALTERNATIVE VIBRANCE/PNG SMART SOLUTIONS IS NOT ENGAGED IN RENDERING LEGAL, TAX, OR FINANCIAL ADVICE OR SERVICES VIA THE SERVICE. ALTERNATIVE VIBRANCE/PNG SMART SOLUTIONS IS NOT A FINANCIAL PLANNER, BROKER, OR TAX ADVISOR. The Service is intended only to assist you in your financial organization and decision-making and is broad in scope. Your personal financial situation is unique, and any information and advice obtained through the Service may not be appropriate for your situation. Accordingly, before making any final decisions or implementing any financial strategy, you should consider obtaining additional information and advice from your accountant or other financial advisers who are fully aware of your individual circumstances.