A stretch IRA can be an effective tool for increasing the wealth that passes to beneficiaries. With a life insurance policy held inside an irrevocable life insurance trust (ILIT), the stretch IRA can result in a larger legacy and give owners more control over how trust assets are distributed.
Leveraged Credit Shelter Trust
If your married clients have significant assets, they may already know the important role an irrevocable Credit Shelter Trust (CST) can play in helping to protect and enhance their legacy for future generations. Life insurance can increase the value of your clients’ trust, allowing more assets to pass to beneficiaries.
Help your clients understand the federal income and estate tax impact on a deferred annuity at death, and suggest an alternative—gifting all or a portion of the current annuity’s value to a trust and purchasing life insurance.
BUSINESS PLANNING CONCEPTS
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