Life insurance can be a very valuable planning tool for business owners. Some employers purchase so-called “key person” life insurance for key executives and/or other personnel who would be difficult to replace. Additionally, amongst co-owners, life insurance can be used to …
Tax Issues With Employer-Owned Life Insurance Contracts Read more »
A few months back I had the privilege of sitting down to breakfast with my good friend (and member of my BNI “extended family), Jim Bear . Jim is a financial advisor with J. Alan Financial in Maple Grove and we had …
A common estate planning technique which attorneys use is the creation of an irrevocable life insurance trust, or “ILIT”. The purpose of an ILIT is to minimize the impact which life insurance proceeds can have in terms of estate tax. …
Estate Planning with Life Insurance Policies: Are Your Policies Worth Keeping? Read more »