There are many different life insurance policies available. Some are straight forward with premiums and payouts and others include investment, annuity, and other features for retirement planning. It’s easy to get overwhelmed. Sometimes the best solution is the simplest one. Here’s why term life insurance may be the best solution for estate planning. What Is […]
Incorporating life insurance into an estate plan goes beyond simply purchasing life insurance. Since these policies allow you to list direct beneficiaries and essentially bypass anything outlined in a will, you must make special arrangements to maintain more control over life insurance proceeds. Here’s a closer look at this topic and the best ways to […]
Although life insurance proceeds may be tax free for income purposes, they could result in significant estate taxes if they push your gross estate value over the state or federal exemption amount.