Autumn 2010
Life insurance: A significant estate-planning vehicle
The tax and investment advantages and the cash payout provided by a death benefit can help achieve your planning goals.
By Jennifer M. Smith
Estate planning often presents challenges for family business owners as they strive to protect business continuity and provide accessible wealth for their families. The prospect of increasing tax rates, as well as limited credit availability, also place pressures on owners to ensure that their companies and estates have sufficient liquidity to meet their liabilities. The incorporation of life insurance into a business owner’s succession plan can address these concerns, often in a tax-efficient manner.
Life insurance offers several benefits not associated with other investments. Death benefits paid under a life insurance policy generally are not …
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