Al Gibbons, one of our leading HighCap producers, recently pointed out that producers, attorneys and CPAs typically do not understand how powerful life insurance is as a wealth transfer vehicle when combined with other non-insurance planning strategies. This presents us with a tremendous opportunity to educate legal, tax and other professionals and when necessary, overcome the prejudices against life insurance. Here are just a few of the powerful and unique high-end planning strategies with life insurance that they should be familiar with.
This past summer, the IRS announced that it was working on new regulations to eliminate discounts on family controlled entities such as family limited partnerships, LLCs, and minority or non-voting corporate interests. The good news is that those new regulations have not yet been introduced. This article offers a practical perspective and identifies the opportunity that it presents.