BP Dan Martiuk on Estate Planning Tools with Annuity Products

GRAND CAYMAN, CAYMAN ISLANDS / ACCESSWIRE / June 9, 2023 / Effective estate planning requires thoughtful conversation to determine how assets, including property, money, and possessions, are distributed as part of a family legacy. When determining the best strategy to protect and support family and friends in the planning process, one valuable tool to consider is the Single Premium Deferred Variable Annuity (SPDVA). BP Dan Martiuk, a trusted financial specialist, and Board Member for Star Insurance Company (Cayman), Limited (STAR), points to the SPDVA offered by STAR as an example, and outlines how this annuity can help protect assets and ensure a secure family future.

"When beginning the estate planning process, it's important to invest in tools such as a SPDVA," states BP Dan Martiuk. "The STAR-SPDVA is designed to provide exceptional estate planning benefits with enhanced preservation and flexibility." The four main features include deferral, (taking advantage of long-term compound growth of the investment portfolio), protection, (preserving accumulated wealth for the future), compliance (remaining compliant with international regulations and reporting requirements), and planning (additional estate planning benefits).

Deferral

The STAR-SPDVA enables tax-free growth of investment, where earnings accumulate on a tax-deferred basis until withdrawn. This deferral allows investments to compound over time, maximizing potential returns and providing a more substantial legacy for beneficiaries.

Protection

One key benefit of the STAR-SPDVA is the robust protection it provides. Based in the stable and secure jurisdiction of the Cayman Islands, the annuity product preserves policy assets for high-net-worth individuals. Placing assets into this annuity helps keep hard-earned wealth protected for future generations.

Compliance

Compliance with international fiscal regulations is paramount, and thoughtful planners know to take advantage of fiscally efficient strategies. The STAR-SPDVA adheres to all applicable laws and reporting requirements to ensure peace of mind, knowing that the investment is fully compliant with global standards.

Planning

STAR-SPDVAs allow for better legacy planning as beneficiaries can be named to receive funds upon a passing. This helps ensure that assets are distributed according to clear wishes and can also help avoid the time and expense of probate.

BP Dan Martiuk summarizes, "Annuity products such as the STAR-SPDVA may be structured to provide lifetime income through regular payments for a reliable source of income during retirement, while also offering a range of investment options to diversify investment portfolios and manage risk."

Securing a legacy is an important step for every family - finding personalized service and customized solutions to meet unique estate planning needs can make a significant difference in preserving wealth for future generations.

This article provides guidance and information for consideration and is not intended to provide specific tax and/or legal advice.

Contact Information:

Andrew Mitchell
Email: media@cambridgeglobalmedia.com
Phone: 404-955-7133

SOURCE: Cambridge Global