Estate Planning is a Team Effort

In structuring an estate plan it is critical that we work in tandem with your attorney experienced in estate planning before creating or changing an estate plan. Well-coordinated estate planning should involve a team of experts and your own legal and tax advisors to navigate complex and changing tax laws.

Life insurance is present in almost every estate plan and serves as a source of support, education-expense coverage and liquidity to pay death taxes, pay expenses, fund business buy-sell agreements and sometimes to fund retirement plans.

For small estates, the estate and gift tax exemption of $5.49 million in not a consideration. The main item that policy owners should be aware of is to ensure that the beneficiaries are well provided for by the chosen insurance policy.

For larger estates with more assets than the amount of the applicable exclusion of $5.49 million, life insurance is an essential component of the estate plan.1