The Importance of an Insurance Review
September was “Life Insurance Awareness” month. The reality is there are many times throughout the year when an insurance review is relevant. There are 3 levels to an insurance review – review, analyze and evaluate. IIC is here to help you audit existing and proposed insurance options.
Estate planning vs Estate Tax planning
When planning for your estate, you need to think differently if estate tax exposure is a concern. With the potential for the federal estate tax laws to expire in 2016, many are focused on reviewing plans with their High-net-worth clients.
Estate taxes are charged on everything you own, minus what you owe, plus your life insurance proceeds. Some may decide to move their life insurance policies to an irrevocable trust. Some clients are purchasing quality term insurance outside of their taxable estate to lock in their insurability and allow them to exchange to an estate liquidity policy later.