If upon death, you or another income-earning family member has earned a large amount of lifelong income, it’s another near certainty that any survivors will have to pay death-related taxes.Read More
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.Read More
Age is an important factor when it comes to pricing life insurance, because let’s face it, the older you are the higher the chance you may become sick or die. There are limitations on the age that a person can take out a policy, but as people continue to live longer, some insurers have increased their insurable ages up to the age of 90 or 95.Read More