Estate planning is one of the most effective ways to ensure the efficient transfer of your hard-earned wealth to the next generation. While this area of wealth planning has always been important, the looming sunset of the estate tax exemption to roughly half its current value has made estate planning more paramount than ever before. To help you prepare for this major change, AlphaCore Wealth Advisory recently hosted a webinar with experienced wealth planners, Troy Owens, CFP, and Ethan Schmidt, CFP, CRPC. During this webinar, Troy and Ethan provided invaluable insight into ways you can leverage life insurance in an estate plan.
Some other topics discussed during the presentation include:
- AlphaCore’s “best of both worlds” approach
- Estate tax basics and differences between states
- What the current estate tax exemption is
- Upcoming estate tax law changes and what this means for you
- How life insurance can fit into the entire wealth planning process
- Ways to utilize Irrevocable Life Insurance Trusts (ILITS)
- Different types of insurance policies for estate planning
- Factors affecting life insurance underwriting
- Additional estate planning strategies to mitigate the upcoming tax law changes
- The role life insurance can play in business succession
- Real-life examples of utilizing insurance in estate planning
With estate tax law changes approaching, now is the time to be proactive with your estate planning strategies. If you are interested in learning more about estate planning or are eager to incorporate life insurance into your current plan, please do not hesitate to contact us.