Tag: life insurance

What to Know Before You Go

For immigrants who are planning on moving to the US, the IRS will welcome you with open arms. But for wealthy individuals, this embrace can be “very expensive”. They say that prior planning prevents poor performance; and protecting your assets from US taxes before a move to the US could save you and your children… Read more »

Life Insurance: To Keep or Not to Keep?

If you have high insurance premiums, carrying life insurance can feel like a burden. So the recent increase in the estate tax exemption limit to $22 million (for couples) seems like a ‘get out of jail free’ card. Certainly, if life insurance was purchased simply to cover estate taxes, and there will not be any… Read more »

How Millionaires Pay for Life Insurance

In 2016, the University of Michigan and Jim Harbaugh came to an agreement in which Michigan would loan Harbaugh $14 million over the course of several years to pay his insurance premiums. He doesn’t need to repay the loan until he dies, at which point the death benefit will cover the loan, and remaining funds will… Read more »

Saving Your Qualified Retirement Plan

Military team working together

In Saving Private Ryan, Tom Hanks played an army captain for a band of men whose mission was to find Private Ryan and escort him safely home (because his 3 brothers had already lost their lives in World War II). Though your qualified retirement plan is not a matter of life and death, it may… Read more »

How to Have your Cake and Eat it Too

Grandparents sharing cake with grandchild

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 »

6 Estate Planning Secrets the Government Doesn’t Want You to Know

Estate Planning: Secrets for retaining wealth

“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 »

3 Tips Savvy Investors Use to Manage Insurance

Couple Managing Insurance Plans

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 »