This site and its contents are intended for education purposes only.

This material (articles, slide presentations, case studies, etc.) provides a brief summary based on our understanding and interpretation of current law. All tax references are to federal tax law only, unless otherwise stated. This presentation includes changes made by the 2001 Tax Act. All these changes are to expire at the end of 2010.

Pursuant to IRS Circular 230:

The information contained in this material is not intended to, and cannot be used to, avoid IRS penalties. This material supports the marketing and promotion of life insurance. Seek advice based on your particular circumstances from an independent tax, legal, accounting, insurance, investment, and financial advisors.

Individual, including business owners, should not apply any of these concepts without coordinating with attorneys, accountants, life insurance agents, investment advisors, financial planners, etc. C onsult with your professional tax advisor about your personal situation before making any decisions. This is not intended to provide tax or legal advice.

Advisors should not apply any of these concepts to their clients without: (1) establishing a mutually agreed upon scope of their engagement; (2) gathering necessary and sufficient objective and subjective data given the client's goals, needs, and priorities; and (3) evaluating that data and determining alternative strategies consistent with the mutually agreed upon scope of the engagement and the data collected.

Herbert K. Daroff, J.D., CFP ® is a Registered Investment Advisor in Massachusetts doing business as BAYSTATE FINANCIAL PLANNING