Sentences with phrase «estate planning purposes»

Unlike standard life insurance policies where the surviving spouse is usually the beneficiary, second - to - die life insurance is generally used for estate planning purposes.

Tip — Whole life policies serve estate planning purposes well (particularly in situations where a large estate tax is expected at death).

Your family lawyer may also have some good contacts with agents in the life insurance business that he or she used for estate planning purposes.

Mediation is helpful for estate planning purposes because:

The death benefit of a whole life insurance policy can be received tax free by the beneficiaries, and for this reason whole life insurance is used for estate planning purposes as well as providing income for beneficiaries after the insured passes away.

These types of policies are most common for estate planning purposes where after both insureds pass, immediate cash is needed to settle an estate or mitigate larger tax bills due to estate tax laws.

Two asset protection benefits are, one, that an irrevocable trust may be set up for the employee to own the policy, such as an irrevocable life insurance trust OR another type of grantor trust, and this can assure that the policy will not be included in the employee's taxable estate for split dollar estate planning purposes.

Although a high level of insiders selling could be a red flag, Gratton lists estate planning purposes as the primary reason for selling his shares in Power Financial.

That article also distinguished between revocable and irrevocable trusts which are respectively used for very different estate planning purposes.

Tip — Universal life policies can be especially useful for estate planning purposes in situations where you're expecting a large estate tax due at death.

You want to use it for estate planning purposes because you're set to owe federal or state estate taxes on your assets

These types of policies are most common for estate planning purposes where after both insureds pass, immediate cash is needed to settle an estate or mitigate larger tax bills due to estate tax laws.

Two asset protection benefits are, one, that an irrevocable trust may be set up for the employee to own the policy, such as an irrevocable life insurance trust OR another type of grantor trust, and this can assure that the policy will not be included in the employee's taxable estate for split dollar estate planning purposes.

You want to use it for estate planning purposes because you're set to owe federal or state estate taxes on your assets

Transfers by holders of Class B common stock will generally result in those shares converting to Class A common stock, subject to limited exceptions, such as certain transfers effected for estate planning purposes.

Having an updated business valuation is a great asset if ever approached by buyers, brokers, or DSOs, as well as for family, tax, succession and estate planning purposes.

Founders will want various share transfers to be exempt from the ROFR / Co-sale such as transfers to family members or for estate planning purposes.

Permanent insurance is commonly used for wealth transfer and estate planning purposes, while term insurance is used for replacing lost income in the event of premature death.

Most people need to own life insurance at different times for survivor income or estate planning purposes.

This provision has important implications for estate planning purposes, so be sure to revisit your estate plan once you get married.

Roth retirement accounts have some very significant advantages over traditional tax - advantaged accounts for estate planning purposes.

It's used primarily for estate planning purposes, as the estate tax is usually only payable at the second death.

Another time it may be acceptable to get money from your parents is for estate planning purposes.

Vanguard Managed Payout Fund is primarily intended for retirees and other investors who would like to receive monthly payments to meet expenses, who are able to tolerate the inherent risks of the fund itself, and who want to retain access to their investments to meet unexpected expenses or to use them for estate planning purposes.

Convertible term life insurance is ideal for securing an inexpensive death benefit for estate planning purposes.

«For someone later in life, it could be an estate planning purpose to buying life insurance to leave a legacy for a cherished beneficiary or to donate to charity or to cover income tax at death.»

That's one of the main reasons why these policies have become so popular for estate planning purposes.

Transactions like this are mostly done for estate planning purposes, rather than between arms - length parties.

Family pets can be of utmost importance for estate planning purposes.

Too many spouses lose their exemption because a new home was purchased in joint names because the bank suggested it for financing or the lawyer suggested it for estate planning purposes.

An irrevocable trust can be used for estate planning purposes.

We also help men ages 46 to 50 purchase term life insurance for business insurance, mortgage insurance, or for estate planning purposes, but these are less common.

That's one of the main reasons why these policies have become so popular for estate planning purposes.

Commons uses of funds are to cover health care costs, purchase specialized health treatments, pay off debts and for estate planning purposes.

For estate planning purposes, there is a 3 - year look - back on asset transfers.

If you have a financial planner who wants to help you to create an endowment plan or you need this coverage for estate planning purposes, or you need a long - term care rider, whole life could be a better option for you.

Oftentimes, survivorship life insurance is used for estate planning purposes for those who have a large estate that they wish to protect.

This is key because, for estate planning purposes, a death benefit is not needed until both parties have passed.

Most people need to own life insurance at different times for survivor income or estate planning purposes.

There are reasons to consider a permanent policy, such as for estate planning purposes, however for most people term is significantly more doable in terms of pricing, and provides protection during the years you need it most.

These policies are frequently used for estate planning purposes to leverage various tax deductions.

The tax - free death benefit makes MECs useful for estate planning purposes.

But unless you plan on keeping the policy for the rest of your life to provide for family, estate planning purposes, or as a business succession device, term life insurance is typically the prudent choice for life insurance to cover a small business loan.

A great universal life policy for estate planning purposes is a second to die policy.

Permanent insurance is commonly used for wealth transfer and estate planning purposes, while term insurance is used for replacing lost income in the event of premature death.

Mainly due to the cost, most of the universal life policies I write are for estate planning purposes and for higher net worth individuals.

Because the death benefit is still tax free, a MEC is still useful for estate planning purposes.

These types of policies are often used for estate planning purposes, as they can work in conjunction with the unlimited marital deduction.

While we generally recommend that most people purchase a term life policy in order to maximize coverage at the lowest possible cost, term insurance is not ideal for estate planning purposes.