What’s Next for the 2017 Tax Overhaul?
December 31, 2024 by Allison Bell
What do you think that life and annuity professionals should be doing now?
For clients with estates exceeding the reduced exemption amount, life insurance can provide liquidity to pay estate tax; thus, life and annuity professionals should encourage these clients to set up irrevocable life insurance trusts, or ILITs, to remove the life insurance proceeds from their taxable estates.
They should also be mindful, with interest rates fluctuating, that some advanced planning techniques, like split-dollar life insurance or intra-family loans, may become more or less favorable, so life and annuity professionals should be helping their clients to evaluate these strategies.
Originally Posted at Think Advisor on December 26, 2024 by Allison Bell.
Categories: Industry Articles
