Have you decided how much of an inheritance you want to leave to the government?

If your plans involve doing well financially and leaving an inheritance for future generations, look at using life insurance to transfer wealth tax-free. This would seem preferable to leaving a big chunk of your hard earned money for the government.

This can save you taxes either on a personal plan, or even more if you have it held by your company.

Furthermore, this strategy keeps these funds outside your estate and therefore:

  • allows you to assign benefits for direct payment to a beneficiary or a trustee,
  • avoids probate fees
  • protects the benefits from potential claims or “challenges” to your Will
  • benefits typically settle fairly quickly and can be significantly faster than an estate settlement

Here are links to a few articles that explain how this works.

For more information on this topic and other areas of financial planning, see the library of articles found in: www.DytucoFinancialServices.com. Also watch out for other upcoming posts on:

  • Tips on teaching your children about money
  • Thinking beyond the typical “estate planning box”
  • Business planning and how to avoid the top 3 mistakes made by start-up entrepreneurs

Please share this with a friend, family member or co-worker who might get value out of this information. Also feel free to contact me for a complimentary review of your financial plan or retirement plan. I can help you look at different & creative strategies to meet your specific needs for covering your risks, reaching your financial goals, and saving for your family & your retirement.

Remember, the time to repair the roof is when the sun is shining. (John F. Kennedy)