by Dave Kutcher
With the Thanksgiving holiday upon us and Christmas and New Year just ahead, we like to take this time of year to reflect and be thankful for all that we have been blessed with in our personal and business lives.
We are also reminded of the many individuals within our communities today who are quietly helping others and performing works of grace and charity.
It feels good to do good deeds. It feels good to provide for others, to show empathy and lend a shoulder or a hand when needed. This season, it seems, is one that inspires giving more than any other … to steal a line from a famous Christmas song, “it’s the most wonderful time of the year”.
While giving and charity can come in many different forms, one area we find ourselves frequenting at this time of year with our clients involves “gifting to minors”. There are several ways a parent or a grandparent can provide gifts to minors, and in some cases, charitable and gifting strategies can be complex and require significant legal and accounting expenses to be sure a plan follows current IRS rules.
However, one generational gifting idea that requires very little time or effort and can provide a valuable financial gift for the future of a young one today is a program we call “Gift of a Lifetime” providing a lasting connection to a child you love.
Children outgrow clothes, toys, and other gifts. With Life Insurance, you can give your child or grandchild a gift that provides enduring value. You will help set an example for financial responsibility and emphasize the importance of protecting loved ones.
Most people want to help their children achieve their dreams and achieve their financial goals. You can help with a head start toward these goals by providing a plan that can help them with college tuition, funding a wedding, providing a down payment on a house or starting a business.
Plans such as we design for “Gift of a Lifetime” provide fundamental guarantees including guaranteed life insurance protection, guaranteed cash accumulation and guarantees to build on the plan in the future even if there are adverse future health issues.
Cash values from these plans grow and can be accessed on a tax-advantaged basis and can be used for any purpose. This is a gift your little one cannot outgrow; lifetime protection, cash available for life’s big events and options to increase as their own future family grows.
It is never too young to start, with plans available from childbirth and on. Ideally plans are designed to be fully paid by adulthood, leaving the ultimate gift of this ever-giving financial vehicle that does not require any future outlay by the recipient.
If you would like us to help plan a Gift of a Lifetime strategy for your child or grandchild, please give us a call.
In the meantime, thank you to all of you who have entrusted us with your affairs and sought counsel and financial guidance from us. We truly appreciate your confidence, and we especially appreciate your friendship with us.
We wish you all the most enjoyable week of Thanksgiving.
My name is David A. Kutcher, a retired Marine Corp Captain. My business partner in the lower 48 is Richard C. Scott, CLU, LUTCF. For nearly 40 years we have been helping folks with their personal retirement decisions. We encourage you to make an appointment and get ahead of your concerns as early as is possible. You can catch us on the radio every Saturday morning, “Retirement in the Last Frontier”, 8:30-9:30 on AM 650, Keni Radio. Frontier Retirement, 10928 Eagle River Road; Eagle River, AK, 99577, (907) 795-7452.
