Sentences with phrase «estate planning purposes as»

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.

Not exact matches

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.

Brookfield plans to create a new real estate investment trust under the ticker «BPR,» which will qualify as a REIT for tax purposes and issue shares in this transaction.

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.

The tax information and estate planning information contained herein is general in nature, is provided for informational purposes only, and should not be construed as legal or tax advice.

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

For estate tax planning purposes, such an action can be most valuable as it will allow a surviving partner to prove his or her portion of ownership in the home, making the estate valuation of the first partner to die more equitable, and may also save costly estate tax dollars.

The tax and estate planning information contained herein is general in nature, is provided for informational purposes only, and should not be construed as legal or tax advice.

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.

Estate - planning lawyer Sean Mason of Santa Barbara, California was doing some personal growth work when he created his purpose as Love.

A practice of saving paperwork for one year after the relevant statute of limitations for a lawsuit expires is common, but some kinds of paperwork needs to be retained much longer such as vital statistics records (e.g. birth certificates, marriage certificates and divorce decrees) that can prove citizenship and marital status, documents showing the purchase price of property that may later be sold until it is sold (for tax purposes), documents that prove ownership of property that is still owned, documents that prove final payment of debts, many documents related to a divorce, and many documents related to estate planning.

But before you consider using life insurance as part of your estate plan, it's important to understand the types of survivorship life insurance policies commonly used for this purpose.

However, if you need life insurance for such things as estate purposes, inheritance taxes, business reasons, or to set up a trust or donate to a charity, then you might be better advised to look at some other form of permanent insurance plan such as whole life or a universal life insurance policy.

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.

And, over time, life insurance has come to be used as a primary component of overall financial, estate, and business planning purposes.

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

Second - to - die life insurance, also known as survivorship life insurance, is an interesting and affordable policy option you may want to consider for estate planning purposes.

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.

Indexed Universal Life or Survivorship Universal Life are excellent vehicles for estate planning, such as funding irrevocable life insurance trusts and business planning purposes, such as key man insurance and buy sell agreements.

Most guaranteed universal life insurance policies offer as little as $ 25,000 of coverage for final expenses, or as much as $ 50,000,000 for estate planning purposes.

It serves as a great estate planning tool as it can be purchased by an irrevocable trust, with your heirs as the beneficiary and the insurance proceeds are kept out of the estate for tax purposes.

These policies are the most beneficial for those who want to purchase life insurance for estate planning purposes, to leave an inheritance, or as a pension maximization strategy.

There are of course, professional methods of setting up your books, when you are first starting out, but this sample «thinking it through» model is merely for the purpose of highlighting the concept, one that is the most user - friendly model for non-accountant types of personality such as is common in the real estate business, often where agents don't see themselves as officially «being in business» (they just help people buy and sell houses); and this will enable the REALTOR ® to plan, based on being able to view past performances in any category.

He plans to occupy the house as his primary residence, but for estate planning purposes, he wants to put his house into a land trust with himself as the beneficiary so he can designate a successor benefiary and avoid probate if / when he dies.