BaldwinClarke, Author at Independent Wealth + Business Advisory

Author: BaldwinClarke

#Finterms: Key Person Life Insurance

Key Person Life Insurance is a policy a business purchases on the life of a critical employee—often a founder, executive, or top performer—whose loss would have a significant financial impact.

#Finterms: Durable Power of Attorney for Healthcare vs. Advance Medical Directives

A durable power of attorney for healthcare (DPA-HC) and an advance medical directive (also called an advance directive) both deal with medical decisions, but they differ in how they do so. A DPS-HC appoints a specific person (your health care agent) to make medical decisions on your behalf if you can't make them yourself, while an advance directive provides written...

#Finterms: Roth 401(k)

A Roth 401(k) is an employer-sponsored retirement savings plan that combines features of a traditional 401(k) and a Roth IRA. Employees contribute after-tax dollars (i.e., income taxes are paid before money goes in), and qualified withdrawals in retirement are tax-free — including both contributions and earnings, as long as certain conditions are met.

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#Finterms: Key Person Life Insurance

#Finterms: Durable Power of Attorney for Healthcare vs. Advance Medical Directives

#Finterms: Roth 401(k)