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WPN360
Aug 17

Trust Owned Life Insurance- How to Effectively Use Insurance For Estate Planning

Many high net-worth individuals often wonder what the best way is to create a seamless estate plan, and though there are many options, trust-owned life insurance (TOLI) has been proven to be very beneficial, as it enables the trust to provide for the beneficiaries by balancing inheritances among the heirs estate tax-free, which poses as […]

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WPN360
Jul 24

How to Prepare for Tax Reform in an Ever Changing Political Environment

Tax Reform can be uneasy, especially in this era. Many people are expecting President Trump to restructure taxes, and possibly change gift and estate tax rules. However, nothing is set in stone, which is creating anxiety for many citizens, especially those who are nearing retirement or are currently retired. The uncertainty about the Republican tax […]

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WPN360
Jul 24

Avoid Gifting Large Premiums To Your Life Insurance Trust

Situation: Imagine having a thriving family business that you would like to leave to your heirs. Or, maybe you want to leave your children a substantial piece of land. In your estate planning, however, you discover that your estate will be subject to a $10 million tax bill. The only way for your estate to […]

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WPN360
Mar 27

Income Tax Free Social Security Benefits; Too Good to be True?

It is no secret that The Social Security Fund is in severe financial trouble. In years past, Social Security funds have been held by the government due to the ever-increasing debt. By over promising benefits, the government has tried to “quick-fix” or remedy the situation by introducing even more taxation of retirement benefits from Social […]

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WPN360
Mar 01

Business Succession Planning

Will your business survive after you leave?   Business owners often face many challenges as they look to sustain their businesses through various challenges.  The loss of a key person, or the retirement or unexpected death of an owner can place an incredible strain on the business, but having a buy-sell agreement in place can […]

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WPN360
Dec 13

What a Trump Presidency Means for Your Retirement

Donald Trump made many promises along the campaign trail. Now, as the soon-to-be President Trump, he will have to determine how to keep good on his promises to cut taxes, while at the same time preserving Social Security and Medicare benefits, and providing affordable healthcare to all. With all of his proposals, the uncertainty around […]

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WPN360
Dec 13

Year End Financial Checklist

We see it all the time. People tend to wait until the last minute to address certain things in life, whether it be the smallest task of Christmas shopping or a very important, and not always easy, responsibility of planning their retirement and estate. With the end of the year upon us, it is a […]

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WPN360
Sep 08

Roth IRA for Minors: Getting the Most out of Their Summer Job!

A summer job is a great way for kids to take on some additional responsibilities, and begin learning about money. In addition to learning about hard work and the value of a dollar, they’ll also gain independence having their own income to spend and save as they best see fit. As financially savvy parents or […]

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WPN360
Jun 15

What are Charitable Remainder Trusts?

A simple strategy to minimize taxes and donate to your favorite charity Capital gains taxes are a dreaded side effect of having the assets you’ve invested grow substantially, and the options are fairly limited on how to avoid paying for them. The new federal capital gains tax is now 23.8% – including the 3.8% Medicare […]

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WPN360
Apr 26

We’ve Moved!

We’re happy to announce that Wealth Planning Network has officially moved into our new location at One Parkview Plaza, Suite 117, in Oakbrook Terrace, IL! The new location provides us with the space and resources needed to grow into the future! With our own reception area, conference room, and private offices, we are better suited to […]

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