Estate Planning:
Life insurance is an
extremely important item to consider in the
Estate Planning process. Relatively small sums
of money spent on life insurance can create or
retain a substantial estate. Moreover, life
insurance often provides the least painful way
to pay estate taxes, due to its tax-preferred
treatment. Tax advantages include: deferred
taxes on the growth of cash values, an income
tax-free death benefit and, when set up
properly, estate tax-free death benefit.
Consequently, life insurance is usually the
least expensive and most efficient way to pay
estate taxes. Let the professionals at De
Carlo Insurance Services help you find the
right life insurance vehicle to meet your needs.
For married couples, the value of life
insurance in estate planning can be even greater
by using a relatively new type of life insurance
called Second to Die (or Survivorship) life
insurance. Since survivorship life insurance
pays only after the second death, it is
significantly less expensive than life insurance
based on a single life. Another way life
insurance can be especially beneficial is when
used in a Generation Skipping gifting plan to
benefit grandchildren. These topics, as well as
other estate tax saving plans, will be expanded
on in later sections, which include Second to
Die Life and Gifting Programs.
Additional Information on Estate Planning:
Estate Planning Overview
Irrevocable Life Insurance
Trusts (ILITS)
Using Ownership and
Beneficiary Designations
How to Get Existing
Policies Out of my Estate
Can the Three-Year Rule be
Avoided?
Second to Die Life
(Survivorship) Insurance
Gifts - Overview
Leveraging Your Gifting
Program
Grandchildren
Generation Skipping
Living Trusts
Credit Bypass Trust
Charitable Remainder Trusts
Avoid Capital Gains Income
for life
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