Presentation on theme: "LEGACY ASSETS and WEALTH TRANSFER SALES IDEAS. QUESTION: If I can show you how to leave a greater inheritance, income tax free and you still control the."— Presentation transcript:
LEGACY ASSETS and WEALTH TRANSFER SALES IDEAS
QUESTION: If I can show you how to leave a greater inheritance, income tax free and you still control the cash, would you be interested? QUESTION: Do you have any accounts or assets that you have specifically earmarked for heirs? YOU ONLY NEED TO ASK TWO
SALES IDEA ONE CD’s Bonds Savings & Market Accounts Fixed Annuities Variable Annuities Qualified Assets TYPICAL LEGACY ASSETS THE SPINNING PLATES STORY INSTANT LEVERAGE VERSES GROWTH ASSUMPTIONS
SALES IDEA TWO Female age 70 Legacy Asset $100,000 in a POD CD Needs long term care insurance Reluctant to pay $3,600 annual premium LEGACY ASSETS & LONG TERM CARE CASE STUDY
IDEA TWO continued… 1. Purchase 5 year certain & life immediate annuity with the premium necessary to pay the long term care policy for the life of the annuitant 2. Sell an LTCI policy to protect her assets 3. Reallocate the balance of the asset into a single premium WEALTH TRANSFER product to restore it’s value REALLOCATE THE ASSET IN THE CLIENT’S BEST INTEREST & MAKE THREE SALES
SALES IDEA END RESULT Client still leaving $100,000 to heirs Client has long term care coverage Cost for LTCI does not come out of pocket SAME $100,000 – MULTIPLE SOLUTIONS
SALES IDEA THREE QUESTION: If your client places $100,000 into a CD or an annuity intended as a legacy asset, what percentage of each dollar is tied up for heirs? QUESTION: Does it make any sense to you if a client must tie up 100 cents on the dollar to provide the legacy?
IDEA THREE CONTINUED… Immediate gifting to children or grandchildren Additional income Travel & vacations Emergency fund Long term care SHOW YOUR CLIENTS HOW THEY CAN FREE UP SOME OF THE MONEY FOR OTHER USEFUL PURPOSES.
ONE MORE CREATIVE EXAMPLE Client has $100,000 earmarked for two children Ask your client if they would like you to show them how they can use this money more creatively to leave their children $100,000 AND leave a legacy for their grandchildren as well EXAMPLE: $100,000 premium buys $150,000 death benefit Designate $50,000 for each child – total $100,000 Designate $10,000 for 5 Grandchildren – total $50,000
MORAL OF UNCOVERING POTENTIAL LEGACY ASSETS Do good work for your clients Solve multiple needs Help to create larger legacies Make multiple sales