JLS Financial Group 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 for risk, we will work with you to bring clarity to what you want to achieve and how to get there. Some of our key services are detailed below.
Asset Protection
There are numerous financial strategies and retirement income strategies that can help you accumulate assets for the future, protect 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.
Retirement Planning
Retirement planning is crucial to you in order to stay on track and retire on time. While some can begin saving for retirement within years of graduating school, others are delayed and may fall behind without proper planning. Our job is to help you address your finances in such a way that retiring on time is made possible.
Estate Planning
A well-engineered estate conservation plan can help minimize tax liability and ensure that loved ones are protected. We will work with you and your advisors to assess the impact of state and federal taxes on your estate and suggest strategies to help minimize those taxes while meeting your family’s needs. We do not provide tax advice. Please consult with your own advisors for tax advice.
Disability Insurance
Long-term disability insurance (LTD) is an insurance policy that protects an employee from loss of income in the event that he or she is unable to work due to illness, injury, or accident for a long period of time.
Some estimates state that the average employee with a long-term disability or illness misses 2.5 years of work. This can devastate a family financially without the safety net provided by a long-term disability insurance policy.
Long-term disability insurance does not provide insurance for work-related accidents or injuries that are covered by workers' compensation insurance. But, they do cover an employee in the event of a personal accident such as a car accident or a fall.
However, long-term disability insurance ensures that an employee will still receive a percentage of their income if they cannot work due to sickness or a disabling injury. Long-term disability insurance is an important protection for employees when the U.S. Census Bureau estimates that an employee has a one in five chance of becoming disabled.
Long Term Care/Extended Care
What is Long-Term Care?
Long-term care is help you may need due to a lengthy illness, an unexpected injury or accident, or a severe cognitive disorder such as Alzheimer’s disease. LTC may be provided in your own home or nursing homes, assisted living facilities and adult day care centers. You probably know someone who has needed long-term care. Maybe you have witnessed a family member, friend or colleague struggle with the emotional and financial issues that can come with a long-term care experience. The truth is, no matter when the need arises, because of age, disability, or because of an unexpected illness or accident, long-term care can affect any age group, any social strata, and any geographic location. But what is it and how can you plan for it? A long term care policy will provide the financial resources to pay for care. There a numerous solutions available.
Who needs Long-Term Care?
Most of us strive to live active, healthy lives well into our later years, and indeed as a society, Americans are living longer than ever before. This extended longevity is one of the things that drives the growing need for long-term care – the longer we live, the better the odds that we may need long-term care services.
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.
Charitable Planning
Charitable planning allows you to support the organizations and causes that matter to you, while often providing them 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.
Special Needs Planning
Parents want their children to be taken care of after they die. But children with disabilities have increased financial and care needs, so ensuring their long-term welfare can be tricky. Proper planning by parents is necessary to benefit the child with a disability, including an adult child, as well as assist any siblings who may be left with the caretaking responsibility.
Special Needs Trusts
The best and most comprehensive option to protect a loved one is to set up a special needs trust (also called a supplemental needs trust). These trusts allow beneficiaries to receive inheritances, gifts, lawsuit settlements, or other funds and yet not lose their eligibility for certain government programs, such as Medicaid and Supplemental Security Income (SSI). The trusts are drafted so that the funds will not be considered to belong to the beneficiaries in determining their eligibility for public benefits.
