Sentences with phrase «estate planning purposes well»

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

Not exact matches

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.

We recommend that you consult your estate planning attorney for purposes of drafting your will and for advice on the type of bequest that best fits your financial and tax situation.

Note: If your estate will be larger than the federal estate tax exemption amount, currently $ 5,120,000, this document is best used for education and planning purposes.

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.

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.

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.