Business and Estate Planning

Growing a business is a time-consuming task. It's no wonder proper estate and wealth management planning gets pushed aside to make time for more pressing work. As it should be: you have more important things to focus on. That's where Providium comes in. We do the work for you. We analyze your situation and advise you on the best way to minimize your estate taxes and maximize your assets for your retirement and your heirs.

Life Insurance Trusts

An Irrevocable Life Insurance Trust (ILIT) focuses on wealth generated after death. Normally, a person's taxable estate includes the face value of any life insurance policies. But an ILIT includes a life insurance policy on the life of the grantor. That is, the grantor makes a gift of the life insurance premium to the ILIT. The trust becomes the owner of the life insurance policy instead of the individual. Upon death, the insurance proceeds are not considered part of the estate, and so can be used to purchase assets from the estate. An ILIT may help save on federal and estate taxes.

Charitable Remainder Trusts

Charitable Remainder Trusts are helpful for people who want to give a large gift to a charity but also want the income from the gifted asset. It works like this: the trustee manages the assets to deliver a regular income to the donor and then the remaining interest is paid to the charity after the death of the donor. There are two types of Charitable Remainder Trusts. Charitable Remainder Unitrusts give the grantor income equal to a percentage of the fair market value of the trust, though not less than 5% a year. Charitable Remainder Annuity Trusts give the grantor a fixed payout amount at least once per year of not less than 5% of the fair market value of the asset. In each case, the charity receives the remaining assets after the grantor's death.

Family Limited Partnerships

A Family Limited Partnerships (FLP) lowers the value of your estate (for estate tax purposes) while allowing you to control the investments and assets inside the Partnership. This is a common method of transferring assets to children and other family members at lower totals for estate and gift tax purposes. FLPs restrict the ownership of partnership interests to small groups who are usually family members. Because the partnership agreement places major limits on the ownership, voting rights, and distribution preferences of the partnership interests, the assets are discounted.

Estate Planning Analysis

Discover your best opportunities: fill out and submit our Business and Estate Planning Assessment Form.

Our Providers

We only work with the best.
Here is a partial list of our providers. We thoroughly research each company for quality of service and reliability. We also continually monitor your satisfaction with these providers. Because your best interest is our only interest.

• American Mayflower Life Insurance Company
• AXA Equitable Life Insurance Company
• Berkshire Life of America
• First Unum Life Insurance Company
• Jefferson Pilot Financial Insurance Company
• John Hancock Life Insurance Company
• Lincoln Life and Annuity
• Massachusetts Mutual Life
• Metropolitan Life
• New England Life
• Phoenix Mutual
• Principal Life
• Prudential Life
• Sun Life
• The Travelers
• Union Central
• United States Life
• William Penn Life Insurance Company

Securities offered through NFP Securities, Inc., a Broker/Dealer and member NASD/SIPC. Providium Consulting Group, LLC is an affiliate of the NFP Benefits Network. NFP Benefits is a division of NFP Insurance Services, Inc. Providium Consulting Group, LLC is not affiliated with NFP Securities, Inc.