Couple meeting with financial advisor

Is it time to review your estate and succession plans?

Estate planning has taken some major turns due to recent tax law shifts.  If you thought it's all about tax exemptions, think again.  Even with the evolving landscape, there's a lot to address for effective estate and succession planning.  Talk with your financial professional to help ensure you are up to date. New York Life Insurance Company and its agents do not provide tax or legal advice. 

  • Balance bequests: Larger exemptions might lead to unintended overfunding of specific bequests or trusts, altering your estate's intended division.

  • Income tax strategy: Don't overlook income tax implications upon a surviving spouse's passing.  Tailored trust arrangements can help optimize tax efficiency.

  • Protecting wealth: Trust planning still matters – potentially shielding your wealth from creditors, mismanagement, and other potential risks.

  • Adapting to changes: Laws can change. Ensure your plan is flexible enough to navigate evolving tax regulations.

  • State tax awareness: State inheritance and estate taxes differ, and they can pack a punch. Consider these when crafting your plan.

  • Review appointments: Regularly update fiduciary appointments to ensure the right individuals or entities are in charge.

Financial Advisor meeting with couple

Utilizing Life Insurance for Secure Estate Plans, Tax Reduction Strategies, and Asset Protection

Financial service providers play a crucial role in helping their clients achieve their estate, tax, and business succession goals, but one powerful tool that often goes underutilized is life insurance.  By incorporating life insurance into their strategies, financial professionals can provide their clients with secure estate plans, tax reduction strategies, and asset protection.  In his article, titled "IDITs: What Advisors Need to Know," Jeff Chadwick shares valuable insights into the utilization of intentionally defective irrevocable trusts to enhance estate planning and asset protection, and explains how IDITs can be used as a vehicle to transfer wealth and minimize taxes for your clients, while providing the necessary liquidity to address potential estate tax liabilities.

Financial professionals have a unique opportunity to leverage life insurance as a powerful tool in their clients' financial strategies and provide their clients with peace of mind, knowing that their estates are secure, taxes are minimized, and assets are protected.  Remember, when it comes to building effective financial strategies, it is crucial to understand the specific needs and goals of each client.  Consult with professionals and take into consideration individual circumstances before implementing any strategies.

Woman sitting in chair

The importance of employee retention plans: A guide for Advisors

In today’s dynamic job market, keeping top talent is crucial for business owners. The “Great Resignation” reshaped the workforce, but Robert Keebler says it’s also a “Great Upgrade” – an opportunity for employers to elevate their employee retention game.  In this article, Keebler describes various strategies, such as non-qualified deferred compensation plans, that can help business owners keep their key employees onboard.

Financial professionals having a discussion

Employee retention plans: A guide for employers

In today's dynamic job market, employee turnover is inevitable, but a robust employee retention program can significantly reduce the loss of key personnel and help secure an organization's success and longevity.  In this article from Robert Keebler, he highlights strategies such as non-qualified deferred compensation plans that can help employers adapt to the evolving labor landscape and retain their most valuable assets – the dedicated and skilled employees that make the business successful. 

Woman leading a meeting

Benefits and pitfalls of buy-sell agreements

Business entities come in all shapes and sizes, but no matter the type, each one should have a buy-sell agreement in place.  This important tool helps business owners effect a smooth transition in the event of death, disability, retirement, or other circumstance that triggers a change in ownership. In this article by Rimon, PC estate planning attorney Patricia Annino, you’ll learn about the benefits and pitfalls of buy-sell agreements and how you can help your clients better protect their businesses. 

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Using IDITs to reduce taxes and protect assets

Want to keep more of your hard-earned wealth in your family's hands? Jeff Chadwick, JD, reveals the power of intentionally defective irrevocable trusts (IDITs) in this article, diving deep into the nuanced world of transfer taxes, estate taxes, and effective strategies to protect your assets. Using IDITs can not only reduce your taxes but also can ensure your wealth is secured for future generations. It's never too late to start planning your estate, but remember, professional consultation is key to tailor the best strategies for you. Learn more at NYL Advisors.

Two adults walking and talking in an office.

The importance of buy-sell agreements

According to the Exit Planning Institute, 83% of businesses have no written transition plan and 66% are owned by Baby Boomers who will transition out in the next ten years, one way or another.  If you are considering a buy-sell agreement for your business, this article from Rimon, PC estate planning attorney Patricia Annino can help you understand the functions and benefits of this important business succession planning tool. 

Man wearing a suit

Planning for sudden death of family business founder or key executive.

The unexpected death of a business founder or key executive can have lasting consequences across the entire enterprise, and include legal, financial, tax, business operation, and psychological ramifications.  In this article, Rimon, PC estate planning attorney Patricia Annino describes the impacts of those consequences and urges all family business founders and key executives – and their advisors – to plan now for a smooth operational transition and consider the seven key components she provides for an effective business succession plan.

Three people looking at a tablet.

Tax loss harvesting may reduce the pain of stock market losses

An increasing number of stock market investors are seeing huge losses in their taxable brokerage accounts.  In this informative article from The Nautilus Group, you’ll learn how tax strategies with respect to these losses can diminish their true economic cost as well as ways to avoid common traps and pitfalls. 

Two elderly adults sitting in a field looking at flowers.

IRA distributions to a CRT can provide asset protection and retirement income

Although the SECURE Act eliminated the stretch IRA strategy for most designated beneficiaries, there is a strategy where IRA distributions may be coupled with a charitable remainder trust to duplicate the stretch IRA strategy.  Read this article from The Nautilus Group®, which is a service of New York Life Insurance Company, to learn how IRA distributions to a CRTs can effectively alter the SECURE Act’s 10-year payout for asset protection, estate planning, retirement income, and charitable planning purposes. The Nautilus Group and its Member Agents do not offer tax, legal or accounting advice. Securities are offered through Registered Representatives of NYLIFE Securities LLC, Member FINRA/SIPC, A Licensed Insurance Agency.

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Life insurance 101:  An overview of term life policies versus whole life policies

Most people think of insurance as a basic protection tool – pay a premium, and if the worst happens, the carrier pays out a benefit.  This article from The Nautilus Group looks at how life insurance can provide more benefits than just a one-time payout and explains the difference in term and whole life policies to help consumers understand that while term coverage offers peace of mind for a while, whole life insurance can provide peace of mind for a lifetime. 

Three adults standing in conference room.

NQDC plan: A tool for employers to attract and retain top talent

In today’s job market, the risk of losing top performers is very real for employers.  Finding suitable replacements can cause financial stress and disruption of business which may result in lost profits.  An employer can gain a distinct advantage over companies competing for top talent by offering a non-qualified deferred compensation plan designed to motivate and retain the employees who are key to the company’s success.  Read this article from The Nautilus Group to learn how this valuable tool provides benefits for both employers and their key employees.


Capital building.

History of the US estate tax

The Tax Cuts and Jobs Act was one of the most significant tax legislation acts signed into law since the Tax Reform Act of 1986.  This historic timeline illustrates the fluctuations in US estate tax laws and provides an understanding of the different reasons the law has changed over the past 220+ years.  

Married couple in wedding clothes signing document.

Community property trust may reduce potential taxes for married couples

For married couples that wish to retain a greater amount of their wealth, the utilization of a CPT should be considered.  Community property states offer a distinct tax advantage for married couple’s assets.  This article discusses the benefits and regulations when establishing a community property trust with your spouse.  New York Life Insurance Company does not offer tax or legal advice.

Grandparents, parents, and grandchild playing on floor.

Passing assets through trusts can help protect your family's estate.

Estate planning involves protecting your assets and ensuring a smooth transfer to loved ones. Trusts offer a valuable solution, allowing control over assets and safeguarding them from creditors. By passing assets through trusts, you can minimize tax liabilities. This article discusses creating an effective estate plan that enhances your gift to future generations. New York Life does not provide tax or legal advice.

Man and woman looking at computer.

Gifts to charitable remainder trusts can provide tax benefits for donors

Discover the power of the Charitable Remainder Trust (CRT) for optimizing your taxes and supporting causes you care about. Convert appreciated assets into an income stream while securing future contributions to your preferred charity. Read this article from The Nautilus Group to understand  how this tax-advantaged strategy works to offer immediate charitable deductions and provide income to the donor or another person. New York Life, its agents, and affiliates do not provide tax, legal or accounting advice.

Three adults reviewing a document

Revocable living trusts: advantages, drawbacks, and misconceptions

When creating an estate plan, people are often baffled by the revocable living trust and unsure what exactly it accomplishes or why they would need one.  This informative article from The Nautilus Group explains how these trusts are different from wills and describes the benefits, misconceptions, and potential drawbacks of this popular estate planning tool.

Two men sitting at table reviewing a document.

Split-dollar life insurance arrangements: Basics, advantages, and disadvantages

Split-dollar arrangements are commonly used in business contexts but also can be advantageous in other situations, for example between an asset owner and a trust or between parents and their children.  This article from The Nautilus Group explains how the strategy works and the advantages it can provide when two parties share the costs and benefits of life insurance. 

Marketability Assessment

As a successful business owner there may come a time when selling your business will seem like the right move, but how will you ensure you get the most value from the sale?  Watch this short video to learn how the Nautilus Marketability Assessment tool may help you increase the return on your investment and maximize the value of your business.  The Nautilus Group® is a service of New York Life Insurance Company.  Nautilus services are offered exclusively through its member agents.


If you missed New York Life’s 2023 Advisor Symposium, here is a video replay you can watch to learn about advanced planning strategies for affluent and business owner clients on the topics of buy-sell planning, employee retention, and life insurance trusts. 

Buy-sell agreement: Why every business with multiple owners should have one

In this video, you’ll learn how the owners of Coffee Break harnessed the power of a buy-sell agreement to protect their business in the event of unforeseen circumstances like the loss of a partner.

Nautilus staff compilation video

Since 1993, The Nautilus Group®, which is a service of New York Life Insurance Company, has provided sophisticated estate planning and business succession strategies to support the complex needs of high-net-worth families and business owners through a network of qualifying Nautilus Member agents.  This exclusive access allows members to provide a level of service for their clients that is unparalleled in the industry.  Watch this video to learn more about the benefits of working with The Nautilus Group’s team of professionals. 

The importance of Buy Sell Agreements- Secure your business future

In business, you always need to have a backup plan. Don’t wait for disputes to act, like the couple portrayed in this video.  Watch to see how a buy sell agreement can help distribute business assets when the owners are going through unsettling times and learn how to secure your business’s future.

Irrevocable Life Insurance Trusts

When it comes to owning a life insurance policy, we know what you’re thinking.  “I don’t need to worry about that right now.  What’s the worst that could happen?”  Watch this animated video to see three different outcomes a family could experience in the event of an untimely death and see why ILITs could be the best option to protect your family’s future.


Kirk Quaschnick, Janice Ragland, Edward Emery, Cameron Reeves, and Mark Wiggins are agents licensed to sell insurance through New York Life Insurance Company and may be licensed with various other independent unaffiliated insurance companies collectively in the states of AL, AR (AR Insurance License - Kirk #1073789, Mark #5783147), AZ, CA (Kirk CA Insurance License #0I00890), CO, FL, GA, HI, IL, IN, KS, KY, LA, MA, MI, MO, NC, NJ, NM, NY, OH, OK, OR, SD, TN, TX, VA, WA, and WY. No insurance business may be conducted outside the states referenced.

Kirk Quaschnick, Janice Ragland, Edward Emery, Cameron Reeves, and Mark Wiggins are Registered Representatives of and collectively offer securities products & services through NYLIFE Securities LLC, Member FINRA/SIPC, a licensed insurance agency, and a wholly-owned subsidiary of New York Life Insurance Company, 14111 King Rd Ste 520, Frisco, TX, 75036, 214-420-7152. In this regard, this communication is strictly intended for individuals residing in the states of AK, AL, AR, AZ, CA, CO, FL, GA, HI, ID, IL, IN, MA, MI, MO, NC, NM, NY, OH, OK, OR, PA, SD, TN, TX, VA, and WA. No offers may be made or accepted from any resident outside the specific states referenced.

Kirk Quaschnick, Cameron Reeves, and Mark Wiggins are also a Financial Advisers with Eagle Strategies LLC, a Registered Investment Adviser, and a wholly-owned subsidiary of New York Life Insurance Company, offering advisory services in the states of AK, AL, AR, AZ, CA, CO, FL, GA, HI, ID, IL, IN, MA, MI, MO, NC, NM, NY, OH, OK, OR, PA, SD, TN, TX, VA, and WA. As such, these services are strictly intended for individuals residing in the states referenced.

Kirk Quaschnick is a Member Agent of The Nautilus Group, a service of New York Life Insurance Company.

The Million Dollar Round Table (MDRT), The Premier Association of Financial Professionals, is recognized globally as the standard of excellence for life insurance sales performance in the insurance and financial services industry.

TRI WEALTH, LLC is not owned or operated by NYLIFE Securities LLC or its affiliates.

Neither TRI WEALTH, LLC nor its associates are in the business of offering tax, legal, or accounting advice. Please consult your own tax, legal, or accounting professional before making any decisions.