- Estate Preservation
- Estate Cost Analysis
- Charitable Planning
- Gift Planning
- Wealth Transfer
- Long-Term Care Insurance
We realize you have worked hard to accumulate the wealth you have today. We also understand that, without proper planning, the government could be your biggest beneficiary. And complex estate tax laws only add to the confusion. We work in collaboration with your attorney and accountant to help ensure that the right assets pass to the right beneficiaries at the right time – at the least possible tax cost.
For a prominent local business owner, we put in place a large amount of life insurance – for estate tax purposes – on a split-dollar basis, between his business and irrevocable trust. This allowed his business to pay the premium and for the gift to the trust to be a small fraction of the premium. The client was in excellent health when the insurance was issued, but became sick a year later. When it became clear he would not recover, the split-dollar arrangement was terminated, so the insurance was owned entirely by the trust. When he died, the life insurance was paid income and estate tax-free, the estate taxes were paid and the business survived and continues to thrive to this day. This could never have happened without the combined efforts of the attorney, accountant, and our office.
The case study results are for illustrative purposes only and should not be deemed a representation of past or future results. This example does not represent any specific product, nor does it reflect sales charges or other expenses that may be required for some investments. No representation is made as to the accurateness of the analysis.