EF Fall 07.indd - National Association of Professional Allstate ...

for the computer and its related expenses,and it will not be long before this too willpass. Perhaps the biggest difference is thatthe majority of experienced agents havebecome realistic as a result of their experiences,more knowledgeable about how tocope with the challenges they are facing,and better at planning for their future.Then, many believed we could changecorporate culture. A decade and a halflater the culture remains the same. Onlyits methodology has changed, and thevalue that agents bring to the table is stillunappreciated, seen primarily as an expenseitem to be targeted for reductionwhenever and wherever possible.Once we were employees whosemarketing talents helped fill Allstate’scoffers and made it a household name.As agents prospered, so too did Allstate.Things changed abruptly in 1984when our incomes became a target forcorporate expense reductions. Then in2000, agent-employees were outsourced.Agents were morphed into so-called IndependentContractor status, resulting inthe elimination of their benefit programsbut not granted the independence associatedwith a true independent contractor.From Allstate’s vantage point, it was likehaving its cake and eating it too.Enough history, now on to the future.For those of you who missed thisyear’s convention, you missed one of thevery best I have ever attended. There wasmore information provided by speakersand vendors that is of immediate relevanceand value to agents today then youcan possibly imagine. And, the surfacewas only scratched due to time limitations.For example, guest speaker AndrewSherman spoke for about an hour,but if he had spoken for an entire day, wewould have asked for more.My hat is off to Jim and Nancy Fishwho put this convention together. Of allthe NAPAA executive directors and associationmanagers who have come before,none have matched their abilities to recognizewhat agents need in order to succeedletters to NAPAAin today’s environment, and none of themhave worked as hard to make that informationavailable to the agency force. Betterthan most, they understand a corporateculture that has shown itself to be indifferentto the needs of agents. They recognizethe continuing assault upon agent incomeand independence, and even the potentialthat the agents’ role in the company’s systemof product distribution may be at risk,We Offer Structured Sale AnnuitiesSelling your Agency? Don’t forget about Taxes. Normally, if you sell youragency, property or other appreciating asset for a profit, you pay Capital GainsTax on the entire gain the year you sell it. There is an alternative that mayallow you to defer your gains, avoid Alternative Minimum Tax (AMT) and haveyour gross sale proceeds invested.If you are interested in:• Tax-deferred growth• Guaranteed Income stream that is not subject to the ups and downs of abusiness or market conditions• Investing gross proceeds rather than net proceeds and receive asignificantly better outcome over taking cash and absorbing the hit ofpaying Capital Gains in same year• Total flexibility in design of payment streamsno matter the size of an agency.NAPAA is indeed in “Good Hands”with Jim and Nancy. But they cannotdo it by themselves. The best thing eachmember can do to help their associationis to recruit one new member this yearand bring them to our 2008 convention.By helping us to help you, your futurewill be bright.Dick LarkinIMPORTANTTAX INFORMATION• Not being subject to the time constraints of a 1031 Exchange and not beingforced back into real estateStructure Your Deal to Meet Your Goals andObjectives on Your Time Frame!!!* This product is not designed to avoid tax penaltiesContactMajestic Settlement Consultants, LLC(866) 413-2700 • info@majesticsc.comFall 2007 Exclusivefocus — 11