How We Help

Services for Physicians

Here at Summit Wealth Solutions, we understand the financial challenges of being in the healthcare industry. Our advisors are prepared to work with you every step of the way, from residency until retirement. Our team focusses on the financial planning of medical providers of all specialties. No matter your specialty and no matter what challenges you face, we are here to assist you.

Many years of education and residency, long hours, and stressful days can all take a toll on your financial management. It is our goal to take over the stress of developing a financial management plan so that you can devote your attention to what matters: your patients. Gaining understanding of your goals, values, and circumstances is only the beginning. Once we develop a relational understanding of who you are, your goals and objectives, we will customize a plan that meets your needs.

Collaborating with us ensures your finances are secure in your otherwise unpredictable and hectic career. From student loans to asset protection, taxes to retirement, and debt to insurance, we have the knowledge and resources to provide the assistance you need. Our team knows how different the finances of healthcare providers can be compared to other careers and we are experts in tailoring your financial plan specifically to you and your career.

Tax Strategies

You work hard for your money, so it is important to strategize your plan in a way that allows you to save the most. There are potential tax savings strategies that could prevent you from paying higher taxes than necessary. Managing your taxes now can help you save long into the future, making goals such as a second home or early retirement possible.

Retirement Planning

Retirement planning as a physician or other healthcare provider is crucial in order to stay on track and retire on time. Most careers only require 4-6 years of education, but the medical field requires so much more. While others can begin saving for retirement within years of exiting high school, individuals in the medical field can fall behind without proper planning. Our job is to take into account this longer period of education and help you manage your finances in such a way that retiring on time is made possible.

Education Planning

Planning for the education of your children can be overwhelming, especially when you have just finished paying off student loans of your own. Our team of advisors is prepared to work with you to take into account tuition growth, risks involved, taxes, and more to create a plan best suited to the needs of both you and your children. Sending children off to college is difficult enough; do not let your finances make it even harder. Talk to us about education financing today.

Charitable Planning

Serving others is at the core of who you are, or else you would not be in a field that continually puts others first. Our advisors want to help you budget charitable giving as a part of your financial plan. If giving to a cause has been on your heart but you are unsure if it is feasible, consult with us today and we will help you make regular donations to a charity part of your personal financial plan.

Disability Insurance

In an emergency in which the main provider of your family is no longer able to work, disability insurance protects your source of income so that your family still has a source of stability. When the ability to make future plans for investment (ex: school, cars, homes) based on the assumption of future income is taken away by illness or injury, our agents can help you protect your current lifestyle and long term goals. In addition to new medical expenses, one’s income is also reduced or even terminated at the onset of an illness or injury. As the main provider for your family, you should strongly consider disability insurance if your spouse does not believe he or she could maintain financial stability, pay the mortgage, or pay off expenses on your spouse’s income alone.

Life Insurance

Many people think that life insurance is only for people with families. While it is true that life insurance can help provide for the needs of dependents, life insurance also can be an important part of a well-thought-out estate, business succession or charitable giving plan. And permanent life insurance offers many living benefits as well, such as tax-deferred cash value accumulation. For all of these reasons, life insurance can be important for someone starting out - or for someone who’s starting over.

- Whole Life
- Term Life
- Universal Life
- Survivorship Life
- Variable Universal Life

Long-Term Care
Insurance

You’ve worked hard to plan for the future and maintain financial security, but sometimes even the best plans don’t encompass the expenses that can come with long-term care. Long-term care insurance helps to protect your future and provide peace of mind that you can maintain your quality of life after a major illness or injury.

Debt Management

You would not be where you are today if it were not for hard work and years of education. Unfortunately, your education most likely left you with a hefty debt as well. We want to help you manage that debt in such a way that paying it off becomes not only possible, but also easy. As you look to the future, you should be excited, not worried. As you look back at your education, you should be grateful, not regretful. Our debt management programs will help meet your objectives so that your career, not your debt, can be the center of your focus.

Asset Protection

Unexpected events can happen at any given moment such as divorce, lawsuits, liability claims, and more. There are numerous financial strategies and retirement income plans that can help you accumulate assets for the future, shield your business and personal assets from liabilities, and safeguard asset transfer to children and grandchildren. We can help you figure out what the right course of action is for your specific situation and objectives.

Employee Benefits

In healthcare, every employee matters. No office can run smoothly without the help of administrative staff, managers, nurses, assistants, and other staff members. This team is what keeps clients satisfied, schedules complete, and priorities in order. Benefits ensure your employees are dedicated to staying with your practice. Although a need for income leads candidates to apply, it is benefits such as dental and medical insurance and leave time that motivate them to stay. Our job is to help you decide which benefits are best for your company and how to plan and implement them according to your company goals.

Insurance

With so many possibilities available today, picking the right one can be a complicated and frustrating task if attempted alone. A plan can make or break your business and your personal reputation depending on its coverage. The right plan can protect you, your assets, and your name in case of error or liability whereas the wrong plan can permanently damage your practice. Our advisors specialize in insurance and can assist you with choosing the correct type of coverage for your specialty.

Estate Planning

A well-engineered estate conservation plan can minimize tax liability and ensure that loved ones are protected. We will work with you and your other advisors to assess the impact of state and federal taxes on your estate and suggest strategies to help minimize those taxes while meeting your personal philosophies and family needs.

Disability and Extended
Care Needs

To execute a sound retirement strategy, asset and income protection are a must. Designing a plan that encompasses managing costs for extended periods of care and disability insurance can help create the necessary balance in a portfolio to ensure stability and protection of assets.

Services for Businesses

Here at Summit Wealth Solutions, we offer a wide array of services to help business owners address their financial needs at every stage of the business life cycle. Taking into account their personal values and financial goals, we create and execute customized strategies to help entrepreneurs meet their objectives. Some of our key services are detailed below.

Executive Benefits

The success of most businesses is tied into the talent, passion and work ethics of their key executives. Executive benefit packages can help you attract, motivate, and retain high-caliber employees and keep your company healthy and stable. We can help you with funding non-qualified plans, supplemental employee retirement plans, split dollar plans, and more.

Succession Planning

Succession planning allows owners to leave their business on their own timeframe while preparing their company to be transferred to family members, key employees, an outside party, or even a charity. This must be done in a way that achieves personal financial security, maintains harmony, and achieves maximum value for the business.

Key Person Insurance

Key person life insurance offers a death benefit that helps indemnify an employer for the loss of one of its most important assets - the key person. This can help assure continuity of the business for employees, customers and creditors, and protects against losses in sales, momentum, and credit. It can also be used to assist with recruiting and developing a replacement for the employee.

Funding Buy-Sell
Agreements

A buy–sell agreement is a legally binding agreement between co-owners of a business that governs the situation if a co-owner dies or leaves the business, whether by force or by choice. A funded cross-purchase buy-sell plan utilizes life insurance to help ensure that the arrangement is properly funded so that there will be money when the event is triggered.

Funding Deferred
Compensation

Deferred compensation is a written agreement between an employer and an employee where the employee chooses to have part of his or her compensation withheld by the company, invested on their behalf, and distributed back to them at a pre-determined point in the future. Deferred compensation can be used as a flexible way to attract and incentivize key employees.

401(k) and IRA
Rollovers

When you leave a job or retire, you have a decision to make regarding your 401(k) money. While leaving those assets in the former employer’s plan is an option, a rollover can be a consideration. Working with your tax advisor, we can help you determine the right course of action for you. This may include: leaving the funds in your existing plan, if permitted, or rolling them into your new employer’s plan, if one is available and rollovers are permitted. Each choice offers advantages and disadvantages, depending on your specific needs and retirement plan, such as the desired investment options and services, applicable fees, expenses, and withdrawal options, as well as required minimum distributions and tax treatment of applicable options.

Life Insurance

Many people think that life insurance is only for people with families. While it is true that life insurance can help provide for the needs of dependents, life insurance also can be an important part of a well-thought-out estate, business succession or charitable giving plan. And permanent life insurance offers many living benefits as well, such as tax-deferred cash value accumulation. For all of these reasons, life insurance can be important for someone starting out - or for someone who’s starting over.

- Whole Life
- Term Life
- Universal Life
- Survivorship Life
- Variable Universal Life

Disability and Extended
Care Needs

To execute a sound retirement strategy, asset and income protection are a must. Designing a plan that encompasses managing costs for extended periods of care and disability insurance can help create the necessary balance in a portfolio to ensure stability and protection of assets.

Services for Accountants

Estate Planning

A well-engineered estate conservation plan can minimize tax liability and ensure that loved ones are protected. We will work with you and your other advisors to assess the impact of state and federal taxes on your estate and suggest strategies to help minimize those taxes while meeting your personal philosophies and family needs.

Asset Protection

There are numerous financial strategies and retirement income plans that can help you accumulate assets for the future, shield your business and personal assets from liabilities, and safeguard asset transfer to children and grandchildren. We can help you figure out what the right course of action is for your specific situation and objectives.

Charitable Planning

Charitable planning allows you to support the organizations and causes that matter to you, while often providing immediate income streams and reducing your tax burden. Numerous charitable giving strategies exist, and we can help you design and execute a charitable giving strategy that is in alignment with your personal and philanthropic goals. Please seek tax advice from your own tax advisors.

Investment
Management

Managing your wealth requires a clear understanding of your overall investment objectives. Through Eagle Strategies LLC, our comprehensive investment advisory capabilities utilize a disciplined investment approach that looks beyond traditional asset allocation, while addressing important factors such as risk tolerance levels and investment time horizons.

Disability and Extended
Care Needs

To execute a sound retirement strategy, asset and income protection are a must. Designing a plan that encompasses managing costs for extended periods of care and disability insurance can help create the necessary balance in a portfolio to ensure stability and protection of assets.

401(k) and IRA
Rollovers

When you leave a job or retire, you have a decision to make regarding your 401(k) money. While leaving those assets in the former employer’s plan is an option, a rollover can be a consideration. Working with your tax advisor, we can help you determine the right course of action for you. This may include: leaving the funds in your existing plan, if permitted, or rolling them into your new employer’s plan, if one is available and rollovers are permitted. Each choice offers advantages and disadvantages, depending on your specific needs and retirement plan, such as the desired investment options and services, applicable fees, expenses, and withdrawal options, as well as required minimum distributions and tax treatment of applicable options.

Long-Term Care
Insurance

You’ve worked hard to plan for the future and maintain financial security, but sometimes even the best plans don’t encompass the expenses that can come with long-term care. Long-term care insurance helps to protect your future and provide peace of mind that you can maintain your quality of life after a major illness or injury.

Life Insurance

Many people think that life insurance is only for people with families. While it is true that life insurance can help provide for the needs of dependents, life insurance also can be an important part of a well-thought-out estate, business succession or charitable giving plan. And permanent life insurance offers many living benefits as well, such as tax-deferred cash value accumulation. For all of these reasons, life insurance can be important for someone starting out - or for someone who’s starting over.

- Whole Life
- Term Life
- Universal Life
- Survivorship Life
- Variable Universal Life

Executive Benefits

The success of most businesses is tied into the talent, passion and work ethics of their key executives. Executive benefit packages can help you attract, motivate, and retain high-caliber employees and keep your company healthy and stable. We can help you with funding non-qualified plans, supplemental employee retirement plans, split dollar plans, and more.

Succession Planning

Succession planning allows owners to leave their business on their own timeframe while preparing their company to be transferred to family members, key employees, an outside party, or even a charity. This must be done in a way that achieves personal financial security, maintains harmony, and achieves maximum value for the business.

Key Person Insurance

Key person life insurance offers a death benefit that helps indemnify an employer for the loss of one of its most important assets - the key person. This can help assure continuity of the business for employees, customers and creditors, and protects against losses in sales, momentum, and credit. It can also be used to assist with recruiting and developing a replacement for the employee.

Funding Buy-Sell
Agreements

A buy–sell agreement is a legally binding agreement between co-owners of a business that governs the situation if a co-owner dies or leaves the business, whether by force or by choice. A funded cross-purchase buy-sell plan utilizes life insurance to help ensure that the arrangement is properly funded so that there will be money when the event is triggered.

Funding Deferred
Compensation

Deferred compensation is a written agreement between an employer and an employee where the employee chooses to have part of his or her compensation withheld by the company, invested on their behalf, and distributed back to them at a pre-determined point in the future. Deferred compensation can be used as a flexible way to attract and incentivize key employees.

Services for Attorneys

Executive Benefits

The success of most businesses is tied into the talent, passion and work ethics of their key executives. Executive benefit packages can help you attract, motivate, and retain high-caliber employees and keep your company healthy and stable. We can help you with funding non-qualified plans, supplemental employee retirement plans, split dollar plans, and more.

Succession Planning

Succession planning allows owners to leave their business on their own timeframe while preparing their company to be transferred to family members, key employees, an outside party, or even a charity. This must be done in a way that achieves personal financial security, maintains harmony, and achieves maximum value for the business.

Key Person Insurance

Key person life insurance offers a death benefit that helps indemnify an employer for the loss of one of its most important assets - the key person. This can help assure continuity of the business for employees, customers and creditors, and protects against losses in sales, momentum, and credit. It can also be used to assist with recruiting and developing a replacement for the employee.

Funding Buy-Sell
Agreements

A buy–sell agreement is a legally binding agreement between co-owners of a business that governs the situation if a co-owner dies or leaves the business, whether by force or by choice. A funded cross-purchase buy-sell plan utilizes life insurance to help ensure that the arrangement is properly funded so that there will be money when the event is triggered.

Funding Deferred
Compensation

Deferred compensation is a written agreement between an employer and an employee where the employee chooses to have part of his or her compensation withheld by the company, invested on their behalf, and distributed back to them at a pre-determined point in the future. Deferred compensation can be used as a flexible way to attract and incentivize key employees.

Estate Planning

A well-engineered estate conservation plan can minimize tax liability and ensure that loved ones are protected. We will work with you and your other advisors to assess the impact of state and federal taxes on your estate and suggest strategies to help minimize those taxes while meeting your personal philosophies and family needs.

Long-Term Care
Insurance

You’ve worked hard to plan for the future and maintain financial security, but sometimes even the best plans don’t encompass the expenses that can come with long-term care. Long-term care insurance helps to protect your future and provide peace of mind that you can maintain your quality of life after a major illness or injury.

Asset Protection

There are numerous financial strategies and retirement income plans that can help you accumulate assets for the future, shield your business and personal assets from liabilities, and safeguard asset transfer to children and grandchildren. We can help you figure out what the right course of action is for your specific situation and objectives.

Charitable Planning

Charitable planning allows you to support the organizations and causes that matter to you, while often providing immediate income streams and reducing your tax burden. Numerous charitable giving strategies exist, and we can help you design and execute a charitable giving strategy that is in alignment with your personal and philanthropic goals. Please seek tax advice from your own tax advisors.

Investment
Management

Managing your wealth requires a clear understanding of your overall investment objectives. Through Eagle Strategies LLC, our comprehensive investment advisory capabilities utilize a disciplined investment approach that looks beyond traditional asset allocation, while addressing important factors such as risk tolerance levels and investment time horizons.

Disability and Extended
Care Needs

To execute a sound retirement strategy, asset and income protection are a must. Designing a plan that encompasses managing costs for extended periods of care and disability insurance can help create the necessary balance in a portfolio to ensure stability and protection of assets.

401(k) and IRA
Rollovers

When you leave a job or retire, you have a decision to make regarding your 401(k) money. While leaving those assets in the former employer’s plan is an option, a rollover can be a consideration. Working with your tax advisor, we can help you determine the right course of action for you. This may include: leaving the funds in your existing plan, if permitted, or rolling them into your new employer’s plan, if one is available and rollovers are permitted. Each choice offers advantages and disadvantages, depending on your specific needs and retirement plan, such as the desired investment options and services, applicable fees, expenses, and withdrawal options, as well as required minimum distributions and tax treatment of applicable options.

Life Insurance

Many people think that life insurance is only for people with families. While it is true that life insurance can help provide for the needs of dependents, life insurance also can be an important part of a well-thought-out estate, business succession or charitable giving plan. And permanent life insurance offers many living benefits as well, such as tax-deferred cash value accumulation. For all of these reasons, life insurance can be important for someone starting out - or for someone who’s starting over.

- Whole Life
- Term Life
- Universal Life
- Survivorship Life
- Variable Universal Life

Services for Individuals and Families

Summit Wealth Solutions provides individuals and families with innovative, cutting-edge products and services to help them grow, protect and conserve their wealth through all stages in life. Taking into account your needs, goals and tolerance to risk, we will work with you to bring clarity to where you’re going and how to get there. Some of our key services are detailed below.

Estate Planning

A well-engineered estate conservation plan can minimize tax liability and ensure that loved ones are protected. We will work with you and your other advisors to assess the impact of state and federal taxes on your estate and suggest strategies to help minimize those taxes while meeting your personal philosophies and family needs.

Asset Protection

There are numerous financial strategies and retirement income plans that can help you accumulate assets for the future, shield your business and personal assets from liabilities, and safeguard asset transfer to children and grandchildren. We can help you figure out what the right course of action is for your specific situation and objectives.

Charitable Planning

Charitable planning allows you to support the organizations and causes that matter to you, while often providing immediate income streams and reducing your tax burden. Numerous charitable giving strategies exist, and we can help you design and execute a charitable giving strategy that is in alignment with your personal and philanthropic goals. Please seek tax advice from your own tax advisors.

Investment
Management

Managing your wealth requires a clear understanding of your overall investment objectives. Through Eagle Strategies LLC, our comprehensive investment advisory capabilities utilize a disciplined investment approach that looks beyond traditional asset allocation, while addressing important factors such as risk tolerance levels and investment time horizons.

Disability and Extended
Care Needs

To execute a sound retirement strategy, asset and income protection are a must. Designing a plan that encompasses managing costs for extended periods of care and disability insurance can help create the necessary balance in a portfolio to ensure stability and protection of assets.

401(k) and IRA
Rollovers

When you leave a job or retire, you have a decision to make regarding your 401(k) money. While leaving those assets in the former employer’s plan is an option, a rollover can be a consideration. Working with your tax advisor, we can help you determine the right course of action for you. This may include: leaving the funds in your existing plan, if permitted, or rolling them into your new employer’s plan, if one is available and rollovers are permitted. Each choice offers advantages and disadvantages, depending on your specific needs and retirement plan, such as the desired investment options and services, applicable fees, expenses, and withdrawal options, as well as required minimum distributions and tax treatment of applicable options.

Life Insurance

Many people think that life insurance is only for people with families. While it is true that life insurance can help provide for the needs of dependents, life insurance also can be an important part of a well-thought-out estate, business succession or charitable giving plan. And permanent life insurance offers many living benefits as well, such as tax-deferred cash value accumulation. For all of these reasons, life insurance can be important for someone starting out - or for someone who’s starting over.

- Whole Life
- Term Life
- Universal Life
- Survivorship Life
- Variable Universal Life

Long-Term Care
Insurance

You’ve worked hard to plan for the future and maintain financial security, but sometimes even the best plans don’t encompass the expenses that can come with long-term care. Long-term care insurance helps to protect your future and provide peace of mind that you can maintain your quality of life after a major illness or injury.

Services for Property and Casualty Brokers

Executive Benefits

The success of most businesses is tied into the talent, passion and work ethics of their key executives. Executive benefit packages can help you attract, motivate, and retain high-caliber employees and keep your company healthy and stable. We can help you with funding non-qualified plans, supplemental employee retirement plans, split dollar plans, and more.

Succession Planning

Succession planning allows owners to leave their business on their own timeframe while preparing their company to be transferred to family members, key employees, an outside party, or even a charity. This must be done in a way that achieves personal financial security, maintains harmony, and achieves maximum value for the business.

Key Person Insurance

Key person life insurance offers a death benefit that helps indemnify an employer for the loss of one of its most important assets - the key person. This can help assure continuity of the business for employees, customers and creditors, and protects against losses in sales, momentum, and credit. It can also be used to assist with recruiting and developing a replacement for the employee.

Funding Buy-Sell
Agreements

A buy–sell agreement is a legally binding agreement between co-owners of a business that governs the situation if a co-owner dies or leaves the business, whether by force or by choice. A funded cross-purchase buy-sell plan utilizes life insurance to help ensure that the arrangement is properly funded so that there will be money when the event is triggered.

Funding Deferred
Compensation

Deferred compensation is a written agreement between an employer and an employee where the employee chooses to have part of his or her compensation withheld by the company, invested on their behalf, and distributed back to them at a pre-determined point in the future. Deferred compensation can be used as a flexible way to attract and incentivize key employees.

Estate Planning

A well-engineered estate conservation plan can minimize tax liability and ensure that loved ones are protected. We will work with you and your other advisors to assess the impact of state and federal taxes on your estate and suggest strategies to help minimize those taxes while meeting your personal philosophies and family needs.

Long-Term Care
Insurance

You’ve worked hard to plan for the future and maintain financial security, but sometimes even the best plans don’t encompass the expenses that can come with long-term care. Long-term care insurance helps to protect your future and provide peace of mind that you can maintain your quality of life after a major illness or injury.

Asset Protection

There are numerous financial strategies and retirement income plans that can help you accumulate assets for the future, shield your business and personal assets from liabilities, and safeguard asset transfer to children and grandchildren. We can help you figure out what the right course of action is for your specific situation and objectives.

Charitable Planning

Charitable planning allows you to support the organizations and causes that matter to you, while often providing immediate income streams and reducing your tax burden. Numerous charitable giving strategies exist, and we can help you design and execute a charitable giving strategy that is in alignment with your personal and philanthropic goals. Please seek tax advice from your own tax advisors.

Investment
Management

Managing your wealth requires a clear understanding of your overall investment objectives. Through Eagle Strategies LLC, our comprehensive investment advisory capabilities utilize a disciplined investment approach that looks beyond traditional asset allocation, while addressing important factors such as risk tolerance levels and investment time horizons.

Disability and Extended
Care Needs

To execute a sound retirement strategy, asset and income protection are a must. Designing a plan that encompasses managing costs for extended periods of care and disability insurance can help create the necessary balance in a portfolio to ensure stability and protection of assets.

401(k) and IRA
Rollovers

When you leave a job or retire, you have a decision to make regarding your 401(k) money. While leaving those assets in the former employer’s plan is an option, a rollover can be a consideration. Working with your tax advisor, we can help you determine the right course of action for you. This may include: leaving the funds in your existing plan, if permitted, or rolling them into your new employer’s plan, if one is available and rollovers are permitted. Each choice offers advantages and disadvantages, depending on your specific needs and retirement plan, such as the desired investment options and services, applicable fees, expenses, and withdrawal options, as well as required minimum distributions and tax treatment of applicable options.

Life Insurance

Many people think that life insurance is only for people with families. While it is true that life insurance can help provide for the needs of dependents, life insurance also can be an important part of a well-thought-out estate, business succession or charitable giving plan. And permanent life insurance offers many living benefits as well, such as tax-deferred cash value accumulation. For all of these reasons, life insurance can be important for someone starting out - or for someone who’s starting over.

- Whole Life
- Term Life
- Universal Life
- Survivorship Life
- Variable Universal Life

Services for Actors and Actresses

Estate Planning

A well-engineered estate conservation plan can minimize tax liability and ensure that loved ones are protected. We will work with you and your other advisors to assess the impact of state and federal taxes on your estate and suggest strategies to help minimize those taxes while meeting your personal philosophies and family needs.

Asset Protection

There are numerous financial strategies and retirement income plans that can help you accumulate assets for the future, shield your business and personal assets from liabilities, and safeguard asset transfer to children and grandchildren. We can help you figure out what the right course of action is for your specific situation and objectives.

Charitable Planning

Charitable planning allows you to support the organizations and causes that matter to you, while often providing immediate income streams and reducing your tax burden. Numerous charitable giving strategies exist, and we can help you design and execute a charitable giving strategy that is in alignment with your personal and philanthropic goals. Please seek tax advice from your own tax advisors.

Investment
Management

Managing your wealth requires a clear understanding of your overall investment objectives. Through Eagle Strategies LLC, our comprehensive investment advisory capabilities utilize a disciplined investment approach that looks beyond traditional asset allocation, while addressing important factors such as risk tolerance levels and investment time horizons.

Disability and Extended
Care Needs

To execute a sound retirement strategy, asset and income protection are a must. Designing a plan that encompasses managing costs for extended periods of care and disability insurance can help create the necessary balance in a portfolio to ensure stability and protection of assets.

401(k) and IRA
Rollovers

When you leave a job or retire, you have a decision to make regarding your 401(k) money. While leaving those assets in the former employer’s plan is an option, a rollover can be a consideration. Working with your tax advisor, we can help you determine the right course of action for you. This may include: leaving the funds in your existing plan, if permitted, or rolling them into your new employer’s plan, if one is available and rollovers are permitted. Each choice offers advantages and disadvantages, depending on your specific needs and retirement plan, such as the desired investment options and services, applicable fees, expenses, and withdrawal options, as well as required minimum distributions and tax treatment of applicable options.

Long-Term Care
Insurance

You’ve worked hard to plan for the future and maintain financial security, but sometimes even the best plans don’t encompass the expenses that can come with long-term care. Long-term care insurance helps to protect your future and provide peace of mind that you can maintain your quality of life after a major illness or injury.

Life Insurance

Many people think that life insurance is only for people with families. While it is true that life insurance can help provide for the needs of dependents, life insurance also can be an important part of a well-thought-out estate, business succession or charitable giving plan. And permanent life insurance offers many living benefits as well, such as tax-deferred cash value accumulation. For all of these reasons, life insurance can be important for someone starting out - or for someone who’s starting over.

- Whole Life
- Term Life
- Universal Life
- Survivorship Life
- Variable Universal Life

Executive Benefits

The success of most businesses is tied into the talent, passion and work ethics of their key executives. Executive benefit packages can help you attract, motivate, and retain high-caliber employees and keep your company healthy and stable. We can help you with funding non-qualified plans, supplemental employee retirement plans, split dollar plans, and more.

Succession Planning

Succession planning allows owners to leave their business on their own timeframe while preparing their company to be transferred to family members, key employees, an outside party, or even a charity. This must be done in a way that achieves personal financial security, maintains harmony, and achieves maximum value for the business.

Key Person Insurance

Key person life insurance offers a death benefit that helps indemnify an employer for the loss of one of its most important assets - the key person. This can help assure continuity of the business for employees, customers and creditors, and protects against losses in sales, momentum, and credit. It can also be used to assist with recruiting and developing a replacement for the employee.

Funding Buy-Sell
Agreements

A buy–sell agreement is a legally binding agreement between co-owners of a business that governs the situation if a co-owner dies or leaves the business, whether by force or by choice. A funded cross-purchase buy-sell plan utilizes life insurance to help ensure that the arrangement is properly funded so that there will be money when the event is triggered.

Funding Deferred
Compensation

Deferred compensation is a written agreement between an employer and an employee where the employee chooses to have part of his or her compensation withheld by the company, invested on their behalf, and distributed back to them at a pre-determined point in the future. Deferred compensation can be used as a flexible way to attract and incentivize key employees.

Insurance and Annuities

The team at Summit Wealth Solutions are trained professionals who can help you identify your financial needs and then determine which financial and insurance products can best help you meet your objectives. Some of the products we often use to serve the needs of our clients include:

Life Insurance

Many people think that life insurance is only for people with families. While it is true that life insurance can help provide for the needs of dependents, life insurance also can be an important part of a well-thought-out estate, business succession or charitable giving plan. And permanent life insurance offers many living benefits as well, such as tax-deferred cash value accumulation. For all of these reasons, life insurance can be important for someone starting out - or for someone who’s starting over.

Whole Life

Whole Life insurance is also known as permanent insurance. You receive coverage for your entire life, as long as premiums (which are a set amount per period) are paid. Whole life policies accumulate cash value tax-deferred.

Term Life

Term Life policies provide coverage for a specific amount of time - such as 5 years, 10 years or 20 years. Term premiums are often less expensive than whole life premiums, but once the term of the policy is complete, coverage terminates. There is no accumulation of cash value.

Universal Life

Like Whole Life, Universal Life is a permanent insurance policy, which means that it covers you for your entire life, as long as premiums are paid. Universal life, however, offers you flexibility that enables you to change your premiums and death benefit as your needs change. This policy will terminate if at any time the cash surrender value is insufficient to pay the monthly deductions. This can happen due to insufficient premium payments, if loans or withdrawals are made, or if current interest rate or charges fluctuate.

Survivorship Life

Survivorship life insurance - available as whole life, universal life or variable universal life - covers two people and provides payment of the proceeds when the second insured individual dies. Survivorship life insurance is often used to help meet estate planning or business continuation goals.

The policy will terminate if at any time the cash surrender value is insufficient to pay the monthly deductions. This can happen due to insufficient premium payments, if loans or withdrawals are made, or if current interest rates or changes fluctuate.

Variable Universal Life

Like Whole Life, Universal Life is a permanent insurance policy, which means that it covers you for your entire life, as long as premiums are paid. Universal life, however, offers you flexibility that enables you to change your premiums and death benefit as your needs change. This policy will terminate if at any time the cash surrender value is insufficient to pay the monthly deductions. This can happen due to insufficient premium payments, if loans or withdrawals are made, or if current interest rate or charges fluctuate.

Variable Universal Life Insurance combines the premium and death benefit flexibility of a Universal Life policy with investment opportunities. You may allocate your premium amongst a variety of professionally managed investment divisions plus a fixed account. Of course, with investment opportunities comes risk along with the potential for reward.

These products are offered by prospectus through NYLIFE Securities LLC. (member FINRA/SIPC), and a Licensed insurance Agency. Be sure to request one and read it carefully before investing as both the product and investment options prospectuses provide complete information you need to know regarding charges, expenses and risk factors.

Long-Term Care
Insurance

You’ve worked hard to plan for the future and maintain financial security, but sometimes even the best plans don’t encompass the expenses that can come with long-term care. Long-term care insurance helps to protect your future and provide peace of mind that you can maintain your quality of life after a major illness or injury.

Annuities

An annuity is a unique financial vehicle designed to help you accumulate money for your retirement and/or turn a lump-sum of money into a guaranteed stream of income payments. Deferred annuities offer the advantage of tax-deferral and can be used to accumulate money for retirement. Income annuities are used to generate a stream of income payments that is guaranteed to last for as long as you need it to - even for the rest of your life*. Some of the different types of annuities are:

Fixed Deferred
Annuities

With a Fixed Deferred Annuity, the interest rate on your policy is guaranteed* never to fall below a certain amount. For many people, this provides a measure of security.

Subject to a sales charge for early withdrawals and may be subject to income tax. Withdrawals prior to 59.5 are subject to a 10% tax penalty.

Lifetime Income
Annuities

An income annuity where income payments begin immediately - one period after the annuity is purchased. It is designed to provide you with predictable income monthly, quarterly, semi-annually or annually, no matter how long you live, and regardless of how the financial markets perform.

All guarantees associated with Annuity Contracts are based on the claims paying ability of the issuing insurance company. Withdrawals may be subject to regular income tax, and if made prior to age 59 1/2, may be subject to a 10% IRS penalty. In addition, surrender charges may apply.

Variable Annuities

A Variable Deferred Annuity offers the advantage of tax deferral and can be used to accumulate money for retirement. The policy’s accumulated value – and sometimes the amount of monthly annuity benefit payments – fluctuates with the performance of your investment account. There are fees, expenses and risks associated with the contract. Please be aware that assets allocated to the investment divisions are subject to market risks and will fluctuate in value.

Offered through NYLIFE Securities LLC (member FINRA/SIPC), and a Licensed Insurance Agency.

*Guarantees are dependent upon the claims paying ability of the issuing insurer.

Employee Benefits

In today’s labor market, finding quality employees that are the right fit for your company can be a challenge. Keeping them happy by maintaining high morale and continually bolstering motivation presents its own challenges. While these are daunting tasks on their own, we can help you create a custom competitive benefits package that helps to keep your employees onboard for the long haul. If you’ve never considered implementing a benefits package, or if you’re on the fence, here are some things to consider:

  • Although a competitive employee benefits package is an added expense to your business, it is typically much less than the cost of finding, training, and retaining new employees.
  • Having the right benefits can help reduce employee turnover, which can help your company’s long-term stability and help to keep your employees motivated.
  • We can work with you through a wide range of benefits that you can offer to your employees, meaning that the end benefits package is something that fits your specific needs and budget. Certain options can come at little to no cost to you, such as a voluntary payroll deduction program.

Regardless of your needs, Summit Wealth is here to help. Some of our key benefit offerings are detailed below.

Group Major
Medical Plans

These plans cover expenses associated with medical needs, hospital stays, and healthcare.

Group Disability
Insurance Plans

If an employee experiences a short- or long-term disability, group disability plans offer basic salary compensation. Competitive rates are also available on your state-required disability.

Group Life
Insurance Plans

These plans provide life insurance for each individual employee.

Group Dental and
Vision Plans

This kind of plan offers coverage for dental and vision expenses for your employees.

Flexible Spending
Accounts^

Flexible spending accounts help provide a way to make eligible out-of-pocket costs pre-tax, which could be a tax savings for you and your employees.

Voluntary Coverage*

There are several voluntary coverage options that can enhance your benefits program without any additional out-of-pocket cost for you. Products such as whole and universal life insurance, dental insurance, vision insurance, short- or long-term care, and cancer protection are offered. There could be a cost associated with setting up payroll deductions.

Retirement Plans

We offer a variety of retirement plans for you and your employees including 401(k), profit sharing, defined contribution, and defined benefit. We can work with you to find the best way to fund these qualified and non-qualified plans, depending on what works best for your business.

^ Please consult your own tax advisor for tax advice.
*Your participation in the payroll deduction life insurance program is completely voluntary. Since this program is not intended to be subject to the Employee Retirement Income Security Act of 1974(ERISA), your employer cannot contribute to or endorse any policy offered under this program.