State of New Jersey Department of Banking and Insurance Licensed Producer: Title, Life, Health.
Title Insurance Terms:
Owner's Title Insurance Policy – A policy which is purchased by the homebuyer. While it is the buyer's choice, purchasing an "owner's title insurance policy" is the best way to protect your property rights, as well as your trustees, inheritors, and beneficiaries.
FIDELITY APPROVED CLOSER
FIRST AMERICAN APPROVED CLOSER
WESTCORE APPROVED CLOSER
*The opinions expressed on this website are strictly those of Malleo Financial Services, LLC and not those of ASH Brokerage Corp.., or any of our affiliates.
*Malleo Financial Services LLC cannot and
will not give any tax or legal advice.
Risk Management (Insurance)
Life Insurance
If you have anyone who depends on you financially, then life insurance should be a major consideration. Life insurance can be used for income replacement, estate tax planning, legacy planning, and business succession planning. Life insurance comes in many forms and the costs, structures, durations, etc., vary tremendously across the types of policies. Based on your specific needs, we can customize an insurance plan that will give you an optimal amount of coverage for the most affordable price.
The average New Jersey family has less than 3 times (2.867 times) income covered in life insurance.
2013 ACLI Fact Book (American Council of Life Insurers)
Do you have enough life insurance? How do you know?
*To learn about the different types of life insurance, go to the "My Blog" section and read "Selecting Life Insurance to Best Suit Your Needs".
IRS UPDATE - ESTATE TAX 2020
The new 2020 IRS adjustments for the Federal estate and gift tax are as follows:
· The unified estate and gift tax exemption amount is $11,580,000 (up from $11,400,000 in 2019). Estates are taxed at a maximum rate of 40% (same as in 2019). Portability between married couples still applies if elected, increasing the exemption to $23,160,000 (up from $22,800,000 in 2019).
· The exemption from the Generation Skipping Transfer tax is $11,580,000 (up from $11,400,000 in 2019).
· The Annual Gift Tax Exclusion will remain the same at $15,000 for individuals, and $30,000 for married couples who split their gifts.
+ Changes to both the Estate Tax exemption and the Generation Skipping Transfer Tax exemption will sunset after 2025, and will revert to their 2017 numbers - adjusted for inflation.
· Income Tax "Standard Deduction" amounts are: $12,400 for individuals, $18,650 for heads of household, and $24,800 for married couples filing jointly.
*Please consult an estate attorney or CPA for specific information on the tax code.
Disability Insurance
Your most important asset is not your home, your car, or other possessions. It's your ability to earn a living. All of your plans for the future—from
buying a home to putting your kids through college to building a retirement nest egg—are based on the assumption that you will continue to earn a paycheck until you retire. But what would happen
if those paychecks stopped? That’s where disability insurance comes in. Should you become too sick or hurt and can't work, a personal disability income insurance policy can provide you and your
family peace of mind knowing that your standard of living can be maintained.
"One in three Americans between the ages 35 and 65 will become disabled for more than 90 days."
Statistics, ssa.gov
Small business owners can also benefit from specific types of disability income insurance policies. Business Overhead Expense (BOE) policies can reimburse the business owner most of the recurring monthly expenses attributed to "keeping the doors open and the lights on" of the business, should the owner become too sick or hurt to tend to the company's daily operations. Key Person disability insurance policies can provide most companies crucial benefits to protect the business from financial hardships, as a result of a temporary loss of a key employee or key salesperson due to a disability.