This is the first installment of a series in the new year to help financial advisors to build and retain a clientele and increase assets under management with cutting-edge ideas. Each article is designed to bring a creative planning idea that helps the financial advisor to demonstrate value while implementing solutions with financial products. This first article discusses how a customized pooled income fund (PIF) can be used as a creative method to assist a client in minimizing capital gains taxation on the sale of an appreciated asset while maintaining a lifetime income. The strategy allows the financial advisor to manage the assets within the PIF. Similar to a charitable remainder trust, the financial advisor may use life insurance as an asset to replace wealth passing from the PIF to the taxpayer’s donor advised fund.
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