Services
Personal Services
Nettles Brown and Lee Ann Lane provide 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 are 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.
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.
Business Solutions
Nettles Brown and Lee Ann Lane 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 indemnifies 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.
Physician Services
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. Your patients and their cases may change daily, but as we create, monitor, and implement your financial plan, the stability of your future is firm. 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.
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.
Tax Planning
You work hard for your money, so it is important to strategize your plan in a way that allows you to save the most. Although you may be unaware, there are most likely missed exemptions on your tax forms that require you to pay higher taxes than necessary. Let us help you change this by reviewing your taxes and finding missed deductions. 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.
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. Our advisors are experts on asset protection so that your assets, wealth, home, savings, investments, and future income, are safe no matter what comes your way. Let us give you that sense of security knowing even if the unpredictable occurs, you will not lose your hard earned possessions and wealth.
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.
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.
Product Solutions
The team at Nettles Brown and Lee Ann Lane 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 is 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.
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.
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.
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