Services

Insurance & Risk Management

Life Insurance

Life insurance has many unique characteristics that may make it an appropriate solution for a variety of challenges, beyond those that arise at the death of the insured(s). In addition to death benefit protection, life insurance offers:

  • Tax-deferred accumulation of policy cash values.
  • Creditor protection (in some states).
  • Tax-advantaged access to policy cash values.

Please keep in mind loans and partial withdrawals may decrease the death benefit and cash value and may be subject to policy limitations and income tax.

The flexible nature of many modern life insurance policies provides a powerful means to address a wide range of personal, business, and charitable situations.

Personal

Family Protection: Provides a source of cash for surviving family members to utilize for living expenses.

College Funding: Provides a funding source for college education of children or grandchildren.

Debt Protection: Generates cash to pay off an existing mortgage or other personal debt.

Wealth Creation: Provides funds to leave as an inheritance or to equalize inheritances among family members.

Estate Tax Liquidity: Creates liquidity to pay estate taxes rather than requiring liquidation of existing estate assets.

Gifting Leverage: Leverages the use of the annual gift tax exclusion, the lifetime exemption, and/or Generation Skipping Transfer Tax exemption.

Business

Key Employee: Provides funds to aid in the search for a replacement in the event of death of a key employee.

Executive Recruitment and Retention: Used in a variety of nonqualified benefit programs to help attract and retain key employees.

Business Continuation: Provides funds to aid in the continuation of business in the event of death or disability of an owner.

Succession Planning: Provides liquidity to purchase the ownership interest of a deceased owner.

Debt Protection: Creates a pool of money that can be used to pay off borrowed money.

Charity

Wealth Replacement: Used with many charitable gifting programs to replace, for heirs, the value of estate assets that were gifted to charity.

Gift Creation: Used to create a significant donation to charity at death or during life.

Gift Leverage: Used to maximize the eventual charitable donation at the death of the insured.

Although often mistakenly viewed as a price only decision, the long-term nature of life insurance necessitates careful consideration in the selection of the insurance carrier, the product type, and the agent to represent you and interact with your heirs.

Disability and Long-Term Care

Income and asset protection are important components of a sound financial plan. Effective disability and long-term care planning, both pre- and post- retirement, is a critical part of a successful financial plan, ensuring stability, growth, and protection of income and assets for the long term.

Disability Insurance

It can be hard to face the fact that a disability can happen at any time and to anyone. A disability could be devastating to one’s income and accumulation goals. Disability insurance is an integral part of a secure financial plan especially for highly compensated employees, executives and business owners.

Income protection planning allows the insured to maintain their standard of living in the event that an injury or illness leaves them unable to work. Disability insurance is invaluable for any person in any occupation. Proper planning will ensure clients’ can continue their standard of living in the face of a temporary or permanent disability.

We offer a variety of disability income and business protection solutions to meet the needs of our clientele. We help you quantify the risk and assess your income protection needs in order to design effective solutions that benefit both the employer and the employees. There are many factors to consider, and we will help better prepare you by finding the right protection for you.

Long-Term Care Insurance

Long-term care is usually defined as a chronic condition for which an individual requires assistance with his or her usual activities of daily living (ADLs). ADLs are commonly defined as eating, dressing, bathing, toileting, maintaining continence, and transferring from bed to chair. When an individual needs physical assistance or verbal reminders to perform his or her ADLs, they are generally classified as needing long-term care, whether they need the assistance occasionally or full-time.

Diagnostic, therapeutic, preventive, and rehabilitative services all have their place in a comprehensive long-term care program. The primary focus of long-term care however, is on the personal care and support that will preserve an individual's lifestyle, daily independence, and dignity.

It can be difficult to plan for long-term care needs because there are multiple factors influencing the decision making process, including:

  • Ambivalence about long-term living arrangements as physical capabilities decline.
  • Inability or unwillingness of family members to provide periodic or ongoing support when the time comes.
  • Misinformation about long-term care options or services available through health programs, Medicare, etc.
  • Difficulty in juggling financial and family priorities when planning for long-term care.

The financial implications of a disability, chronic disease, or other debilitating condition are often underestimated. Along with health care costs in general, these costs are expected to grow exponentially in the coming years. As most health insurance will not pay for the majority of costs associated with an extended period of illness or injury, long-term care insurance offers a solution with tax-free benefits that are aimed at protecting valuable assets that would otherwise be severely reduced or lost entirely.

Financial Advice

We offer a variety of flexible trustee arrangements that suit your evolving needs,
whether we serve as your trustee, co-trustee or personal representative (executor).

Let's Get Acquainted

We offer a complimentary "Get Acquainted" meeting to describe our services, and to see if our services are right for you.

Contact

  • Phone:
    800-339-1367
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Securities offered through Charles Schwab & Co., Inc. Member FINRA/SIPC.
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280 Park Avenue, 25th Floor West, New York, NY 10017 | Phone: 800-339-1367 | Email: This email address is being protected from spambots. You need JavaScript enabled to view it.

Active clients will receive account statements directly from their qualified custodian at least quarterly. Statements should detail all transactions during the period. If you have any questions or are not receiving account statements at least quarterly, please contact us. If at any time you experience any changes in your investment objectives or risk tolerance, please contact us to determine if changes to your investment elections are necessary.

This website is provided by Magnus Financial Group LLC (“Magnus” or the “Firm”) for informational purposes only. Investing involves the risk of loss and investors should be prepared to bear potential losses. Past performance may not be indicative of future results and may be impacted by events and economic conditions that will not prevail in the future. No portion of this commentary is to be construed as a solicitation to buy or sell a security or the provision of personalized investment, tax or legal advice. Certain information contained herein this is derived from sources that Magnus believes to be reliable; however, the Firm does not guarantee the accuracy or timeliness of such information and assumes no liability for any resulting damages.

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Michael S. Schwartz is primarily licensed in New York and may be licensed in other states. AR License # 444300, CA License # 0H02771

Certified Financial Planner Board of Standards Inc. owns the certification marks CFP®, CERTIFIED FINANCIAL PLANNER™ and CFP® (with flame design) in the U.S., which it awards to individuals who successfully complete CFP Board's initial and ongoing certification requirements. Advisor is featured in Worth® 2018 Leading Wealth Advisors™, a special section in every edition of Worth® magazine. All persons and firms appearing in this section have completed questionnaires, have been vetted by an advisory group following submission by Worth®, and thereafter paid the standard fees to Worth® to be featured in this section. The information contained herein is for informational purposes, and although the list of advisors presented in this section is drawn from sources believed to be reliable and independently reviewed, the accuracy or completeness of this information is not guaranteed. No person or firm listed in this section should be construed as an endorsement by Worth®, and Worth® will not be responsible for the performance, acts or omissions of any such advisor. It should not be assumed that the past performance of any advisors featured in this special section will equal or be an indicator of future performance. Worth®, a publication of the Worth Group LLC, is a financial publisher and does not recommend or endorse investment, legal or tax advisors, investment strategies or particular investments. Those seeking specific investment advice should consider a qualified and licensed investment professional. Worth® is a registered trademark of the Worth Group LLC.

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