To view this email as a web page, click here.                                                                                                     November 2, 2007

We want to thank all the attendees, speakers and carriers that attended our fantastic Annual Meeting in sunny Scottsdale, Arizona this past week! The meeting was a huge success. Our valued producers learned lots of new sales concepts, reconnected with their peers, and had the opportunity to meet with our carrier partners and premium financing business partners. 

We look forward to seeing everyone again at next year's 2008 Annual meeting. Complete details on our next location will be coming soon!

Teague Wright, SVP Sales, The Potomac Group
 

Case of the Week: Special Estate and Gift Tax Consequences for Non-citizen Spouses

Do you have affluent clients who are not citizens of the United States, but either own property or live in the U.S.?  If so, then they could be facing significant estate and gift tax problems.

Did you know?
Property Subject to Tax: If an individual is a citizen or non-citizen resident alien of the United States, U.S. transfer tax rules will be applied to their worldwide assets (i.e., all property owned by the individual regardless of its location).

Jointly Owned Property: For marriages where one spouse is a non-citizen, jointly owned property is NOT treated as if each spouse provided equal consideration.

The Marital Deduction: No “unlimited” marital deduction is available for transfers to a non-citizen spouse unless such property passes into a qualified domestic trust (QDOT) or the surviving spouse becomes a U.S. citizen prior to the due date of the estate tax return.

Life Insurance Planning Pointers:
To avoid QDOT limitations, consider the benefits of life insurance outside of the QDOT. Under this structure, the non-citizen spouse or a trust can apply for insurance as owner and beneficiary on the life of the citizen spouse. Since the non-citizen spouse (or Trust) owns the policy, he/she can maintain full control of the policy’s death benefit outside of the extreme restrictions required by the QDOT.

*Check with your Advanced Markets Director for a helpful chart on the different rule.
 

AIG American General Life
- Announcing AIG Income Advantage VUL
- Elite Universal Life and Platinum Investor Product Enhancements Now Available

AXA Equitable
- Minimum Face Amount Increase for ROPTerm

Lincoln Benefit Life
- Ultra Index: How Its Guaranteed Loan Structure Helps Customers Maintain Strong Downside Market Protection

MetLife Investors
- Introducing Electronic Drafting of Initial Premium
Advance Payments for all Life Products
- The Importance of Life Insurance Reviews

 

Upcoming Calls and Events

Teleconference: Principal Presents: Increase Your Bottom Line
Date: 11.15.07 - 3:00 pm EST
Register Online Now or call 888.241.1254

Teleconference: AXA Presents Trust Funding Strategies
Date: 11.28.07 - 3:00 pm EST
Register Online Now or call 888.241.1254

Teleconference: How Driving Records Affect the Underwriting Process
Date: 11.29.07 - 3:00 pm EST
Register Online Now or call 888.241.1254

Teleconference: Ask the Retirement Doctor: Part 3
Date: 12.04.07 - 3:00 pm EST
Register Online Now or call 888.241.1254

 

carrier incentives

American National
- ANICO’s 2008 Marketing Conference in Hawaii

 

questions?

Call The Potomac Group at
800.722.1600, ext. 6446 for more information.
 

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The Potomac Group, 6550 Rockspring Drive, Suite 320, Bethesda, MD 20817