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DISCLOSURE NOTICE

The information included in this website is intended to serve as a basis for further discussion with your financial, legal, tax and/or accounting advisors. It is not a substitute for competent advice from these advisors. The actual application of some of these concepts may be the practice of law and is the proper responsibility of your attorney. The application of other concepts may require the guidance of a tax or accounting advisor.

Important Notice

This intention of this report is to serve as a basis for discussion with your professional advisors. The intention is not to provide tax or legal advice. Our objective is to provide accurate numbers and explanations, however, the information in this website should not be relied upon for the preparation of tax returns, legal documents, or investment decisions.

Your attorney and accountant should be consulted regarding legal and tax implications of this website

Endnotes

1 Under the Tax Act of 2001, the federal estate tax is gradually phased out until its final repeal in the year 2010.
If Congress does not act at that time to repeal it for the years following; it will automatically revert back to the rates in effect during the year 2001, with an exemption for the first $1,000,000 of assets.

2 Modified Endowment Contracts (MECs)
A life insurance policy issued on or after June 21, 1988 may be classified as a modified endowment contract {MEC) if the cumulative premiums paid during the first seven years {7-pay test) at any time exceed the total of the net level premiums for the same period. If a policy is classified as a MEC, all withdrawals {including loans) will be taxed as current income, until all of the policy earnings have been taxed. There is an additional 10% penalty tax if the owner is under age 59½ at the time of withdrawal, unless the payments are due to disability or are annuity type payments.

All permanent policies endnoted can avoid treatment as a MEC through a well-designed premium payment schedule.

PRIVACY NOTICE

This privacy notice discloses the privacy practices for vwfinancialservices.com. This privacy notice applies solely to information collected by this web site. It will notify you of the following:
1. What personally identifiable information is collected from you through the web site, how it is used and with whom it may be shared.
2. What choices are available to you regarding the use of your data.
3. The security procedures in place to protect the misuse of your information.
4. How you can correct any inaccuracies in the information.

Information Collection, Use, and Sharing

We are the sole owners of the information collected on this site. We only have access to/collect information that you voluntarily give us via email or other direct contact from you. We will not sell or rent this information to anyone.
We will use your information to respond to you, regarding the reason you contacted us. We will not share your information with any third party outside of our organization, other than as necessary to fulfill your request, e.g. to ship an order.
Unless you ask us not to, we may contact you via email in the future to tell you about specials, new products or services, or changes to this privacy policy.

Your Access to and Control Over Information

You may opt out of any future contacts from us at any time. You can do the following at any time by contacting us via the email address or phone number given on our website:
• See what data we have about you, if any.
• Change/correct any data we have about you.
• Have us delete any data we have about you.
• Express any concern you have about our use of your data.

Security

We take precautions to protect your information. When you submit sensitive information via the website, your information is protected both online and offline.
Wherever we collect sensitive information (such as credit card data), that information is encrypted and transmitted to us in a secure way. You can verify this by looking for a closed lock icon at the bottom of your web browser, or looking for "https" at the beginning of the address of the web page.
While we use encryption to protect sensitive information transmitted online, we also protect your information offline. Only employees who need the information to perform a specific job (for example, billing or customer service) are granted access to personally identifiable information. The computers/servers in which we store personally identifiable information are kept in a secure environment.