Russell E. Towers, J.D., CLU, ChFC

About the Author

Russell E. Towers, J.D., CLU, ChFC

Russell E. Towers J.D., CLU, ChFC, joined Brokers’ Service Marketing Group in Providence, R.I., in 2002 as vice president of business & estate planning. Prior to joining Brokers’ Service, Russ served in a number of advanced planning attorney positions with John Hancock Life Insurance Company. He has delivered advanced planning seminars to life insurance professionals and has lectured to Society of Financial Service Professional chapters, estate planning councils, financial planning associations, and attorney and CPA professional groups across the United States. His area of expertise is estate, business, and retirement planning for wealthy business owners, executives and professionals, and he provides customized case consultation for advanced legal, tax and insurance plan designs.

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  Medicaid planning & SPIAs

  By Russell E. Towers, J.D., CLU, ChFC  |  April 23, 2013

  A short term “period certain only” single premium immediate annuity can assist some clients qualify for Medicaid benefits while protecting asset values for heirs.

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  The ins and outs of owning life insurance in a QRP

  By Russell E. Towers, J.D., CLU, ChFC  |  March 29, 2013

  Your clients can own life insurance inside a qualified retirement plan. But should they?

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  Does your under age 60 client need income? Use a SPIA.

  By Russell E. Towers, J.D., CLU, ChFC  |  January 21, 2013

  A single premium immediate annuity can fund a pre-retiree’s income needs until Social Security benefits kick in. However, there are tax issues that must be addressed.

• Estate Planning: A Proper Transfer

  By Russell E. Towers, J.D., CLU, ChFC  |  December 1, 2012

  Property can take on many forms, so being able to discuss the post-death transfer of all types of property with your clients can give you an edge as a trusted professional advisor.

• Asset repositioning

  By Russell E. Towers, J.D., CLU, ChFC  |  August 1, 2012

  The question to ask is, “Can a client use an ‘asset repositioning’ strategy to provide an increased income stream while transferring an equal or greater asset value to heirs?” The answer is yes.

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  Asset Repositioning in a Time of Low Interest Rates

  By Russell E. Towers, J.D., CLU, ChFC  |  July 5, 2012

  A tax-efficient Single Premium Immediate Annuity provides guaranteed income and facilitates the transfer of wealth to heirs.

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  Paying Life Insurance Premiums with Company Cash Flow: The Tax Effect

  By Russell E. Towers, J.D., CLU, ChFC  |  June 11, 2012

  Before your business owner clients consider paying for life insurance with company cash flow, make sure they take these income tax and FICA considerations into account first.

• The Right Buy-Sell Agreement for Your Client

  By Russell E. Towers, J.D., CLU, ChFC  |  April 1, 2012

  Your client needs a life insurance-funded buy-sell agreement — but what kind? Here’s a guide to four different options.