Equitable

On January 14, 2020, we’ll announce our name is Equitable – with a clean and modern look to reflect our brand.

We begin this new chapter from a position of continued financial strength and stability. As you may know, we became a publicly listed company (NYSE: EQH) in May of 2018, and an independent organization in March of this year.

New Legislation Eliminates IRA Stretch

Assets that pass to certain non-spouse beneficiaries will greatly increase the taxes on IRAs when passed to the next generation. Distributions must be taken within 10 years of the death of the IRA owner. This may cause a huge deferred tax liability. Find out how life insurance can help. Contact your BGA today.

New Year-means NY Licensees compliance

Make sure you are NY Compliant. Under the regulation, individual insurance producers, agencies, and brokers licensed to sell insurance in New York must have a cybersecurity program and implement processes for dealing with cybersecurity incidents or breaches and certify annually to their compliance with the law, unless they qualify for a full exemption

For step-by-step instructions on how to complete your certificate of compliance filing or for more information on the NYDFS requirements, visit their website here. DFS also provided guidance through FAQs, which can be found here, as well as their Cybersecurity Resource Center, which can be found here.

Protect the future of your business

A buy-sell agreement funded with life insurance As an owner, you work hard for the success of your business, and you consider the well-being of your family and your employees when you make decisions. One of the most important decisions you’ll make is who will take the reins of your business in the event of the death, disability or retirement of you or a co-owner.
A buy-sell agreement can be vital to your financial future and the survival of your business. It is a buyout contract establishing the terms and fair market value for the sale of an owner’s interest in the business. A buy-sell agreement can help make sure your business continues without disruption. Life insurance is a cost-efficient way to fund your buy-sell agreement. It can provide a lump sum of cash that may be used to purchase a deceased owner’s business interest, generating immediate liquidity for estate taxes, an income stream for loved ones, or to meet other needs. Contract your BGA to learn more.

Protect your practice:

What’s in your client files? Does your documentation clearly show why your product recommendations were suitable and that your clients understood what they were buying? Does it matter? Absolutely! Maintaining accurate and complete client files is part of a strong practice management process and can help protect you. Learn more contact your BGA.

Looking under the hood of the 1040 tax form to spot opportunities

Help your clients discover new planning opportunities.

Reviewing your client’s tax return can be an effective way to identify financial protection needs – needs that AXA may help fulfill. With sweeping changes to personal, business and estate taxation with passage of the Tax Cuts and Jobs Act, this review can be even more significant.Contact your BGA to learn more.