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1035 exchange

Understanding 1035 Exchanges: How to “trade in” your life insurance, long-term care coverage, or annuity for a plan that better suits your needs Life insurance, long-term care coverage, and annuities can play a key role in your short- and long-term planning. These financial vehicles can help you to ensure that you and your loved ones […] Read more

What is a 1035 Exchange? A 1035 Exchange is a transaction whereby the Internal Revenue Service allows you to swap out an existing annuity contract, life insurance policy, qualified long-term care insurance contract, or endowment contract for a new contract or policy that better suits your current situation. The name “1035 Exchange” comes from Internal […] Read more

When was the last time you had a professional review of your Life Insurance Policy or Annuity? Chances are, probably never! But don’t feel so bad, because we’d be willing to hazard a guess that most folks rarely revisit their life insurance policy or annuity until some time in the future when some event warrants […] Read more

In our other article covering the pros and cons of a 1035 exchange, we covered the top benefits and potential pitfalls to consider. Here, we will go into greater detail of the tax benefits of a 1035 exchange and when you may want to consider using this tool. Top Tax Benefits of the 1035 Exchange […] Read more

Unless you peruse the IRS tax code regularly, you may not be familiar with the code sections 1035 or 1031. However, in the world of wealth building and asset protection, these little combinations of numbers get a lot of attention for good reason. Simply put, these IRS code sections allow for the transfer of asset […] Read more