The recent tax reform has left some people wondering whether estate planning is still necessary. It is (we discuss this in detail here). If you die after 2026, the estate tax exemption goes back to 2017 limits (around $5 million or so). Above that, your children will see 40% of your wealth go to the federal… Read more »
If you’re thinking about estate planning, chances are you already own life insurance. If so, good job! Life insurance proceeds are generally not taxable, and you are taking steps to protect your wealth for future generations. But before you pat yourself on the back and go for another round of golf, you need to know… Read more »
What if you could make a significant difference for a cause that you really care about, without reducing your assets (or those of the next generation)? What if you could actually give money away and save money at the same time? Well, if you qualify for more permanent life insurance than you need, you can.… Read more »
What better way to show your love than to make sure that you have an estate plan that covers and protects your spouse, while at the same time maximizing wealth transfer to your children (and grandchildren)? Protection can come in the form of reducing the taxes that will be owed on your estate, or reducing… Read more »
When It is Time to Trash a Policy It was worthless. Well at least that is what Mr. Greene* said. He had obtained a life insurance policy as part of his compensation package while at his previous firm. The $5 million death benefit was meant to insure his salary (for his wife’s benefit), and the… Read more »
While we may or may not agree with President Donald Trump’s policies, the recent tax reform does allow for an increase of wealth transfer to the next generation for the next 8 years. The estate tax exemption limit has increased from around $5 million to about $11.2 million (the IRS website notes that the adjustment… Read more »
By now, you have heard that the estate tax exemption doubled from about $5 million per individual ($10 million or so per couple) in 2017 to $11.2 million per individual in 2018, and now $11.4 million in 2019 (or $22.8 million per couple). Time to get rid of the all the plans you have to… Read more »
It’s never too late to start making better choices. Each New Year offers an opportunity for a bit of healthy introspection, a chance to do something differently. Here is why creating a Family Legacy Trust should be at the top of the New Year’s Resolution list this year: New tax reform laws effective as of… Read more »
“Despite their wealth and business savvy, more than one-third of high-net-worth families have not taken the most basic steps to protect and provide for their loved ones when they die,” CNBC.com cites a 2015 millionaire survey. Don’t Get Overwhelmed You’re not alone if the words ‘estate planning’ make you feel like a deer in the… Read more »
Let’s face it, even with the new tax laws in place, insurance policies are the most tax efficient ways to generate wealth and transfer it to the next generation. Savvy advisors and investors know that well-managed assets should include a strategic use of life insurance, along with other investment vehicles. An Investor’s Secret Weapon Just… Read more »
