Protect and Preserve Your Estate
Leave cash to your heirs so they can pay estate taxes
Equalize inheritance among your children with different needs
Maximize inheritance for your heirs for generations
Provide financial security for your child with special needs
Keep costs of long-term care facilities/services from needlessly depleting your assets
Pass your IRA on to your heirs in a tax-optimized way
Equalize inheritance among your children with different needs
Maximize inheritance for your heirs for generations
Provide financial security for your child with special needs
Keep costs of long-term care facilities/services from needlessly depleting your assets
Pass your IRA on to your heirs in a tax-optimized way
Wealth Transfer Strategies for Taxable Estates
IF YOU HAPPEN TO BE RICH, BUT CASH-POOR, YOU GOT SOME PLANNING TO DO
Life insurance is a highly tax-efficient and cost-effective tool to provide cash to pay estate tax.
This is especially true if your assets are made up mostly of real estate, business and/or other assets that you can't readily convert to cash. What would happen if your estate is large enough to owe estate tax, but there isn't enough cash to pay the tax? Well, there's a good chance your heirs will be forced to sell your assets at a deep discount. So, if you happen to be rich but cash-poor, you got some planning to do.
This is especially true if your assets are made up mostly of real estate, business and/or other assets that you can't readily convert to cash. What would happen if your estate is large enough to owe estate tax, but there isn't enough cash to pay the tax? Well, there's a good chance your heirs will be forced to sell your assets at a deep discount. So, if you happen to be rich but cash-poor, you got some planning to do.
OPTIMIZE YOUR ESTATE PLAN IN A TAX-EFFICIENT AND COST-EFFECTIVE WAY
Life insurance can be an enormously effective tool to optimize estate planning in a tax-efficient and cost-effective way.
There are some sophisticated estate planning techniques to reduce estate taxes and maximize assets transferred to your heirs and/or charities. Because of its unique tax benefits and highly favorable cost-to-benefit ratio, life insurance opens up ways to help leverage your money in a tax-efficient and cost-effective manner and add guarantees (security) and liquidity (cash) to your estate plan. It's almost like buying money with cheaper money.
There are some sophisticated estate planning techniques to reduce estate taxes and maximize assets transferred to your heirs and/or charities. Because of its unique tax benefits and highly favorable cost-to-benefit ratio, life insurance opens up ways to help leverage your money in a tax-efficient and cost-effective manner and add guarantees (security) and liquidity (cash) to your estate plan. It's almost like buying money with cheaper money.
DON'T IGNORE LONG-TERM CARE COSTS (JUST BECAUSE YOU CAN)
Long-term care insurance is a highly efficient and cost-effective way to pay for rather costly long-term care services.
Perhaps you have more than enough assets to easily afford the costs of long-term care services. And perhaps you are inclined to pay for the services as they come. But why spend your own money when you can insure against it at a fraction of the cost? The money you spend on long-term care is the money you don't get to pass on to your heirs (or spend or invest). Given that some 70% of people turning 65 will need some type of long-term care services in their lifetimes, it makes good economic sense to insure against it to avoid the needless spending. Don't pass on long-term care insurance because you have enough assets. Get it because your have enough assets.
Perhaps you have more than enough assets to easily afford the costs of long-term care services. And perhaps you are inclined to pay for the services as they come. But why spend your own money when you can insure against it at a fraction of the cost? The money you spend on long-term care is the money you don't get to pass on to your heirs (or spend or invest). Given that some 70% of people turning 65 will need some type of long-term care services in their lifetimes, it makes good economic sense to insure against it to avoid the needless spending. Don't pass on long-term care insurance because you have enough assets. Get it because your have enough assets.
PROTECT YOUR BUSINESS VALUE SO YOU CAN GET A HIGHER PRICE FOR IT LATER
Life and disability insurance can help protect your business value in a cost-effective and tax-efficient way.
If you are a business owner, your business is likely the most valuable asset you own. This means that the value of your business, and getting paid what it's worth when you sell it, is enormously consequential to meeting your retirement and legacy goals. It can literally mean what you can and can't afford in retirement and how much you are able to leave to your children, grandchildren and/or charities. Thus, it's well worth your time and energy to protect the value of your business.
If you are a business owner, your business is likely the most valuable asset you own. This means that the value of your business, and getting paid what it's worth when you sell it, is enormously consequential to meeting your retirement and legacy goals. It can literally mean what you can and can't afford in retirement and how much you are able to leave to your children, grandchildren and/or charities. Thus, it's well worth your time and energy to protect the value of your business.
