Life Insurance

Caring for your family.

When you have loved ones, ensuring their well-being is a top priority. It’s crucial to take every possible step to maximize the true value of the wealth you’ve created, and to secure the future of your family for generations to come.

Life insurance, when properly structured within various trust instruments, can help you achieve these important objectives. It can also address unique family situations, such as ensuring the care of a special needs individual or providing for members of a blended family in a fair and individualized manner. Utilizing trusts remains one of the most effective wealth structuring tools, and when appropriate, life insurance can be incorporated into a trust to help you meet your financial planning goals.

Common types of life insurance include:

Passing on your business

When your business is your most valuable asset or represents a significant portion of your estate, it’s essential to ensure that family members who are active in the business can successfully take over after you’re gone. Additionally, you may want to provide an equitable inheritance among family members involved in the business and those who are not. Life insurance can be an effective tool to help equalize your estate and achieve these goals.

Continuing your legacy of giving

If philanthropy has been an important part of your life, you may want that legacy of giving to continue even after your passing. If you’ve been devoted to supporting a particular charitable organization, you may want to ensure they can continue their work in the future.

Life insurance can offer a solution by guaranteeing a set amount to the charity of your choice while providing tax benefits to your estate and heirs. It can also allow you to support the charities that matter most to you without significantly diminishing the inheritance your heirs receive, potentially guaranteeing their inheritances while replacing wealth allocated for philanthropy.

? Reduce your exposure to the estate tax:

With the estate tax currently reaching a top rate of 40%, it can significantly reduce the value of your lifetime savings. However, a life insurance policy can help remove assets from your estate, effectively reducing your tax exposure. The proceeds from the policy then pass tax-free to your heirs, enabling you to leave behind a greater legacy than you might have thought possible.

? Create estate liquidity:

Why should your children have to liquidate a real estate portfolio or an operating business to settle your estate? A life insurance policy provides a tax-free, lump sum of cash that can offer your heirs the time and flexibility they need, giving them options to settle your estate without having to sell valuable assets.

? Leverage the value of your retirement accounts:

Life insurance can be a powerful tool for your IRA. If you want to avoid losing a significant portion of your IRA to income and estate taxes upon your death, or if you want to leverage the value of your account for future generations or the charities you support, life insurance can help you achieve those goals.

? Protect those who rely on your income:

Life insurance can alleviate financial stress by ensuring that money is readily available to meet your family’s long-term needs after your passing. It provides peace of mind, knowing that your loved ones will be taken care of financially.