Transfer Tax Implications of Life Insurance and GSTT

Transfer Tax Implications of Life Insurance and GSTT

To help look after future generations, many people elect to transfer property and life insurance policies by gift or at death to a person two more generations below himself or herself. Typically, this means grandchildren and great-grandchildren, also referred to as skip-persons. The goal is to have assets pass from grandparent to skip-persons without being taxed in the child’s estate.

Typically, the transferor places assets in trust to children for life, then to grandchildren. Or, the transferor gives property to grandchildren or places it in trust for their benefit.

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Why Women Are Suffering From a Life Insurance Gap

Why Women Are Suffering From a Life Insurance Gap

Consumers are nearly in full agreement that we all need life insurance. In fact, 85% of consumers say life insurance is a key element of their plans for the future. So why do only 62% of consumers report that they actually own a life insurance policy? To a great extent, those numbers are responsible for a more troubling trend: women are suffering from a Life Insurance Gap. And the story doesn’t end there; of those…

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How Smartphones Are Costing You Higher Insurance Premiums

How Smartphones Are Costing You Higher Insurance Premiums

Drivers in Louisiana are learning a hard lesson when it comes to their commuting habits as the state’s largest auto insurers have been forced to crank up premiums, and it’s a trend being mirrored on a nationwide level. The increases have come as a result of more accidents and a spike in claims costs and the trend comes down to one major factor – distracted driving. The bottom line? Smartphones and tablets are costing you…

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Why Don’t You Own Life Insurance

Why Don’t You Own Life Insurance

By: Todd Halterman You Don’t Own Life Insurance? Think Hard On That Choice If you’re one of the many who don’t own any life insurance policies, you have lots of company, so why don’t you own life insurance? A J.D. Power Household Insurance study says just over 44 percent of consumers actually do own an individual life insurance policy, and that means nearly sixty percent don’t. One sensible reason for purchasing a life insurance policy…

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