Sentences with phrase «potential estate»

In order to help your heirs avoid potential estate taxes when you pass away, you can purchase a permanent life insurance policy to reduce your estate tax liability.

It could also provide liquidity that may be needed to divide estate assets equally among your children or meet potential estate tax obligations.

Gifts of stocks, bonds, mutual funds, and real property also qualify for a charitable income tax deduction, and help you avoid capital gains taxes and reduce potential estate taxes.

For example, a modest estate might require only a simple will, while larger estates concerned with potential estate tax burdens require a more sophisticated strategy such as a trust.

If there is a need for permanent life insurance such as for offsetting potential estate taxes or taking care of a special needs child, the recommended coverage is guaranteed universal life which is basically designed as life long - term.

An irrevocable life insurance trust (ILIT) is one of the best tools you can use to pass your estate to your heirs intact and to minimize potential estate taxes.

Among these are insurance for final expenses, coverage for older age applicants are no longer eligible for term insurance, and survivorship life insurance designed to pay potential estate tax.

Permanent life insurance is commonly used by affluent families to reduce or avoid potential estate taxes that would otherwise be levied against your assets / estate after you pass away.

There's a simple, straightforward way to avoid income tax and potential estate tax on your retirement plan, while making a significant gift to American Rivers.

So any potential estate tax savings would not apply if you were to die before they reach legal adulthood.

Otherwise, the ILIT will fail and the life insurance will be pulled into the estate, which could lead to potential estate taxes.

Frank and his attorney put a plan in place that would allow Frank's survivors to use his life insurance policy to help pay for some of the potential estate taxes that might be owed at his death.

If you have, or think you may have a potential estate dispute, give Mussio Goodman a call or submit an online inquiry for a free consultation.

Therefore, the amount of your potential estate tax liability will be reduced.