LCN1201-2063078 For broker/dealer use only. Not for use with the public. From income to heirs Help protect your client’s estates and increase their assets.

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Presentation transcript:

LCN For broker/dealer use only. Not for use with the public. From income to heirs Help protect your client’s estates and increase their assets with a tax-efficient strategy Presenter Name Presenter title Date of presentation Products issued by: The Lincoln National Life Insurance Company Lincoln Life & Annuity Company of New York

For broker/dealer use only. Not for use with the public. LCN Shifting to a new focus Building retirement savings during career Managing income after retirement Transferring assets effectively for the future Income Growth Optimizing assets

For broker/dealer use only. Not for use with the public. LCN Why it matters now 3 During 2012 Exclusion amount: $5.12 million Estate tax rate: 35% The cost of waiting could be significant After 2012 Exclusion amount: $1 million Estate tax rate: 55% the opportunity

For broker/dealer use only. Not for use with the public. LCN Convert taxable assets into a more tax-efficient inheritance 1 Create an income stream Protect their estate through a trust Leverage their wealth Easily transfer their wealth The strategy: Help your clients:

For broker/dealer use only. Not for use with the public. LCN Convert taxable assets into a more tax-efficient inheritance What assets are subject to estate taxes? Which assets will be needed for retirement income? Assets not needed for income may be right for this strategy 1 The strategy 1

For broker/dealer use only. Not for use with the public. LCN Create an income stream Annuity income payments are guaranteed Tax-efficient payments with nonqualified assets 2 The strategy 2

For broker/dealer use only. Not for use with the public. LCN Protect the estate through a trust Be sure the trust is set up properly 3 The strategy 3

For broker/dealer use only. Not for use with the public. LCN Leverage wealth The trust purchases a life insurance policy Life insurance provides an estate tax-free death benefit Life policy can be survivorship Excess assets in the trust can be invested elsewhere 4 The strategy 4

For broker/dealer use only. Not for use with the public. LCN Easily transfer wealth Proceeds avoid probate Assets not subject to estate taxes 5 The strategy 5

For broker/dealer use only. Not for use with the public. LCN Why plan an estate with Lincoln? Advantages of a Lincoln variable annuity Effective tool for estate planning Access to leading investment managers Optional features for guaranteed growth and income, available for an additional charge Death benefit protection for loved ones Advantages of i4LIFE ® Advantage with GIB GIB can provide a guaranteed funding source for the life policy i4LIFE provides a tax-efficient income stream for nonqualified assets i4LIFE offers control and flexibility

For broker/dealer use only. Not for use with the public. LCN Using a Lincoln annuity for estate planning 11

For broker/dealer use only. Not for use with the public. LCN How can this strategy work for your clients? 12 Client profiles Bill and Marie Municipal bonds Mike and Anne Annuity Gillian CDs Jeanne IRA rollover

For broker/dealer use only. Not for use with the public. LCN Client profile: Municipal bonds 13 Age: 67 years (both) Total current estate value: $9 million Muni bond value:$1.5 million Income from muni bonds: $40,000 Goal: Increase income and tax efficiency to leave more to their children and grandchildren Bill and Marie

For broker/dealer use only. Not for use with the public. LCN Client profile: Municipal bonds 14 Compare the two strategies 1 For illustrative purposes only. The study does not represent an actual investment or expected future results. Unless indicated otherwise, values are not guaranteed. The total initial i4LIFE payment is $53,747: the initial GIB is $45,000; income tax is $7,117; and the reserve fund receives $1,630. The reserve fund investment vehicle within the trust has an avg. ann. return of 6%. Calculations ignore the value of the assets remaining in the Lincoln variable annuity at time of death and do not reflect income or estate taxes on those assets. Assumes 55% estate tax rate and 39.6% income tax rate. Income taxes on the annual annuity payments were paid first using the payment amount beyond the GIB and second a portion of the GIB, when necessary. State income, estate, and inheritance taxes may also apply. Example compares the tax impact for the products and investment vehicles discussed in the two strategies, not the tax impact on the entire estate. Income taxes were paid annually on reserve fund gains. 2 Depending on how the trust is set up will determine whether the trust or the grantor is liable for income tax on any gains on taxable investments.

For broker/dealer use only. Not for use with the public. LCN Client profile: Annuities 15 Age: 64 years (both) Total current estate value: $6 million Initial investment:$335,000 Current annuity value: $750,000 Assumed growth rate:4% Goal: Reduce estate taxes and maximize their children’s inheritance Mike and Anne

For broker/dealer use only. Not for use with the public. LCN Client profile: Annuities 16 Compare the two strategies 1 1 For illustrative purposes only. The study does not represent an actual investment or expected future results. Unless indicated otherwise, values are not guaranteed. The total initial i4LIFE payment is $39,497: the initial GIB is $30,000; income tax is $5,435; and the reserve fund receives $4,062. Both annuities use the same hypothetical growth rate. The reserve fund investment vehicle within the trust has an avg. ann. return of 6%. Calculations ignore the value of the assets remaining in the Lincoln variable annuity at time of death and do not reflect income or estate taxes on those assets. Assumes 55% estate tax rate and 39.6% income tax rate. Income taxes on the annual annuity payments were paid first using the payment amount beyond the GIB and second a portion of the GIB, when necessary. State income, estate, and inheritance taxes may also apply. Example compares the tax impact for the products and investment vehicles discussed in the two strategies, not the tax impact on the entire estate. Income taxes were paid annually on reserve fund gains. 2 Depending on how the trust is set up will determine whether the trust or the grantor is liable for income tax on any gains on taxable investments.

For broker/dealer use only. Not for use with the public. LCN Client profile: CDs 17 Age: 65 years Total current estate value: $6 million CDs:$1,000,0000 Interest rate for CDs:1% Income from CDs: $10,000 Goal: Reduce current and future tax liability and create a greater legacy Gillian

For broker/dealer use only. Not for use with the public. LCN Client profile: CDs 18 Compare the two strategies 1 For illustrative purposes only. This example does not represent an actual investment or expected future results. Unless indicated otherwise, values are not guaranteed. The total initial i4LIFE payment is $54,700: the initial GIB is $45,000; income tax is $7,405; and the reserve fund receives $2,295. The reserve fund investment vehicle within the trust has an avg. ann. return of 6%. Calculations ignore the value of the assets remaining in the Lincoln variable annuity at time of death and do not reflect income or estate taxes on those assets. Assumes 55% estate tax rate and 39.6% income tax rate. Income taxes on the annual annuity payments were paid first using the payment amount beyond the GIB and second a portion of the GIB, when necessary. State income, estate, and inheritance taxes may also apply. Example compares the tax impact for the products and investment vehicles discussed in the two strategies, not the tax impact on the entire estate. Income taxes were paid annually on reserve fund gains. 2 Depending on how the trust is set up will determine whether the trust or the grantor is liable for income tax on any gains on taxable investments.

For broker/dealer use only. Not for use with the public. LCN Client profile: IRA rollover 19 Age: 69 years Total current estate value: $6 million Current IRA value:$1.5 million Assumed growth rate for IRA:7% Goal: Reduce estate tax and maximize her children’s inheritance Jeanne

For broker/dealer use only. Not for use with the public. LCN Client profile: IRA Rollover 20 Compare the two strategies 1 For illustrative purposes only. The study does not represent an actual investment or expected future results. Unless indicated otherwise, values are not guaranteed. The total initial i4LIFE payment is $83,873: the initial GIB is $67,500; income tax is $33,214 and the reserve fund receives $0; $50,659 is used for the policy premium. The reserve fund investment vehicle within the trust has an avg. ann. return of 6%. The RMDs minus income tax (39.6%) are reinvested in a taxable account which continues to grow at the same hypothetical rate as the IRA. Calculations ignore the value of the assets remaining in the Lincoln variable annuity at time of death and do not reflect income or estate taxes on those assets. Assumes 55% estate tax rate and 39.6% income tax rate. Income taxes on the annual annuity payments were paid first using the payment amount beyond the GIB and second a portion of the GIB, when necessary. State income, estate, and inheritance taxes may also apply. Example compares the tax impact for the products and investment vehicles discussed in the two strategies, not the tax impact on the entire estate. Income taxes were paid annually on reserve fund gains. 2 Depending on how the trust is set up will determine whether the trust or the grantor is liable for income tax on any gains on taxable investments.

For broker/dealer use only. Not for use with the public. LCN Review of the strategy components 21

For broker/dealer use only. Not for use with the public. LCN A word about estate planning Effective estate planning can help: Control the distribution of assets Minimize expenses, taxes and probate costs Potentially disperse more money to the individuals and organizations that are most important to your clients 22

For broker/dealer use only. Not for use with the public. LCN The next steps 23 Help clients to take charge today Work with your Lincoln wholesaler Reposition assets with a trust Transfer assets according to your individual client’s strategy

For broker/dealer use only. Not for use with the public. LCN Important disclosure. Please read. This material was prepared to support the promotion and marketing of a variable annuity product. Lincoln Financial Group ® affiliates, their distributors, and their respective employees, representatives, and/or insurance agents do not provide tax, accounting, or legal advice. Any tax statements contained herein were not intended or written to be used, and cannot be used, for the purpose of avoiding U.S. federal, state, or local tax penalties. Please consult your own independent advisor as to any tax, accounting, or legal statements made herein. 24

For broker/dealer use only. Not for use with the public. LCN Important disclosure. Please read. Variable annuities are long-term investment products designed for retirement purposes and are subject to market fluctuation, investment risk, and possible loss of principal. Variable annuities contain both investment and insurance components and have fees and charges, including mortality and expense, administrative, and advisory fees. Optional features are available for an additional charge. The annuity’s value fluctuates with the market value of the underlying investment options, and all assets accumulate tax-deferred. Withdrawals of earnings are taxable as ordinary income and, if taken prior to age 59½, may be subject to a 10% federal tax penalty. Withdrawals will reduce the death benefit and cash surrender value. 25 Investors are advised to consider the investment objectives, risks, and charges and expenses of the variable annuity and its underlying investment options carefully before investing. The applicable variable annuity prospectus contains this and other important information about the variable annuity and its underlying investment options. Please call for a free prospectus. Read it carefully before investing or sending money. Products and features are subject to state availability. Variable annuities are issued by The Lincoln National Life Insurance Company, Fort Wayne, IN, and distributed by Lincoln Financial Distributors, Inc., a broker/dealer. The Lincoln National Life Insurance Company does not solicit business in the state of New York, nor is it authorized to do so. Contracts sold in New York are issued by Lincoln Life & Annuity Company of New York, Syracuse, NY, and distributed by Lincoln Financial Distributors, Inc., a broker/dealer.

For broker/dealer use only. Not for use with the public. LCN Important disclosure. Please read. All contract and rider guarantees, including those for optional benefits, fixed subaccount crediting rates, or annuity payout rates, are backed by the claims-paying ability of the issuing insurance company. They are not backed by the broker/dealer or insurance agency from which this annuity is purchased, or any affiliates of those entities other than the issuing company affiliates, and none makes any representations or guarantees regarding the claims- paying ability of the issuer. There is no additional tax-deferral benefit for an annuity contract purchased in an IRA or other tax-qualified plan. Hello future. ® ©2012 Lincoln National Corporation Lincoln Financial Group is the marketing name for Lincoln National Corporation and its affiliates. Affiliates are separately responsible for their own financial and contractual obligations. 1/12 Z01 Order code: LFD-AMBD-PPT Not a depositNot FDIC-insuredMay go down in value Not insured by any federal government agency Not guaranteed by any bank or savings association