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Monday 9am - 5pm Tuesday 9am - 5pm Wednesday 9am - 5pm Thursday 9am - 5pm Friday 9am - 5pm

Law Office of Gerald R. Nowotny, PLLC

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United States
Canton, CT
Law Office of Gerald R. Nowotny, PLLC

You deserve to keep more of your hard earned money. We help you navigate tax reduction and deferral

01/22/2024

PPLI is a customized no-load variable universal life insurance policy that allows the policyholder to customize the investment options within the policy.

I know the senior management in the offshore and domestic PPLI carriers, and they know me. I have implemented many policies as a broker and recommended strategies that resulted in many policies being written. In recent years, I have performed the legal structuring involved in the placement of PPLI and PPVA. If you have not considered PPLI or PPVA, please call me so we may discuss the advantages of such strategies or let me know the ins and outs of a better strategy. The wiser course of action is to take a chance on me while you analyze the tax and planning benefits of PPLI.

01/19/2024

The PIF (Pooled Income Fund) resembles the charitable remainder trust (CRT) in many ways, but not exactly. In the current environment, the PIF produces a higher tax deduction and is not subject to the limitations of the CRT. For example, the PIF is not subject to excise taxation on unrelated business taxable income. The PIF is not subject to the four tier distribution rules of the CRT. The PIF is not subject to the ten percent minimum value of the remainder interest rule.

As a result, it is possible for a taxpayer to contribution a long-term capital gain asset without gain and reinvest the proceeds in a manner so that the income distributions to the income beneficiary are received tax-free. We can also structure the charitable gift so that the deduction is not limited to the 30 percent AGI threshold. Give me a call to find out how! 860-490-9689

01/18/2024

Feeling like you’re paying more than your fair share in taxes? You’re not alone. At The Law Office of Gerald R. Nowotny, PLLC, we believe you deserve to keep more of what you earn.
Invest in your financial future. Schedule a free consultation and unleash your earning potential with us! 🫱🏽‍🫲🏽📲

01/17/2024

As of 2018, the percentage of workers in the private sector participating in defined benefit plans is four percent, down from sixty percent in the early 1980’s and we wonder why no one has enough money to retire? The planning need is enormous, and the planning opportunity is enormous. Very few small business pension plans (if any) take advantage of this planning benefit largely because most businesses adopt prototype pension plan documents that do not adopt this benefit. The plan may be restated as an individual plan and adopted. The funding level of contribution into the 401(h) plan is significant.

From a business development perspective, the discussion of the 401(h) plan is important and will be a high value planning idea. The planning discussion will separate the advisor from his competition and open the door for the discussion of other planning topics with a client or prospective client.

Ready to get on track? Schedule a free consultation by visiting the link in my bio.

01/16/2024

8 Benefits of a Using PPLI as a Flexible Investment Tool
Private placement life insurance avails policyholders of the following 8 benefits:

1) A tax-advantaged money management platform - PPLI combines the powerful tax benefits of life insurance with the flexibility to invest in hedge funds and other sophisticated asset management offerings.
2) Lower costs - Typically, PPLI offers lower fees, commissions, and other costs compared to other retail insurance products.
3) No surrender charges - Policies can be surrendered at any time without incurring surrender charges often found in retail life insurance policies.
4) Simplified tax reporting - PPLI eliminates many of the annual reporting burdens associated with hedge funds, including K-1s.
5) Avoidance of “phantom income” - Because earnings accumulate in a tax-free environment, investors avoid paying taxes on income that’s not distributed to them.
6) Estate planning advantages - Clients have opportunities to enhance the benefits of wealth transfer and charitable planning strategies.
7) Tax-free policy exchanges - Investors can transfer existing life insurance policies into a PPLI using a tax-free IRC Section 1035 exchange.
8) Enhanced creditor protection - If structured properly, life insurance policy values cannot be claimed by creditors.

Want to learn more about Private Placement Life Insurance? Visit GRNowotnyLaw.com to read related articles, listen to podcasts, or schedule a free consultation!

01/15/2024

Meet Gerald!

Gerald is the Managing Partner of the Law Office of Gerald R. Nowotny, PLLC. Gerald has a JD and LL.M. in estate planning from the University of Miami. He is a member of the Florida Bar. He earned his undergraduate degree from the United States Military Academy, West Point. Gerald served on active duty for five-years and left the service as a Captain.

At the Law Office of Gerald R. Nowotny, PLLC, we pride ourselves with over 30 years of experience in critical tax, legal, and financial planning analysis for the benefit of our valued clients.

Give us a call today to find solutions to your financial goals. 860-490-9689

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01/12/2024

Have questions? Need to bounce an idea off of me? I offer a free consultation to first-time clients.

Book your free consultation today by visiting the link in my bio!

12/25/2023

This Christmas let our hope for a better Tomorrow be restored through the miracles and blessings of Christ.

Blessings to each of you and your family and best wishes for a healthy and prosperous New Year.

12/06/2023

Do you have questions about Private Placement Life Insurance? Malta Pension Plan? Private Placement Variable? How about Deferred Annuities?

Call the guru.

Address

220 Albany Turnpike #1039
Canton, CT
06019

Opening Hours

Monday	9am - 5pm
Tuesday	9am - 5pm
Wednesday	9am - 5pm
Thursday	9am - 5pm
Friday	9am - 5pm

Telephone

+18604909689

Website

https://www.grnowotnylaw.com/

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Our Philosophy

The Law Office of Gerald R. Nowotny, PLLC, specializes in helping ultra-high net worth clients and small business owners. Gerry is acclaimed for his expertise in tax reduction and deferral strategies. Find comfort in partnering with us to ensure you are educated in the most sophisticated financial, insurance and legal plans available today for your individual circumstances.

You’ve worked tirelessly to get where you are today. Be wise. Protect what you have achieved.