Insight on Estate Planning - October/November 2012


In This Issue:

- Considering an ILIT? Now’s the time

- Intellectual property requires careful estate planning

- Defined-value gifts: Give now, value later

- Estate Planning Pitfall: Your family doesn’t know where to find your records

- Excerpt from Consider an ILIT? Now's the time:

People often think of life insurance as “tax-free,” but that’s not entirely true. Life insurance proceeds generally are income-tax-free to your beneficiaries, but if you own the policy at your death, the proceeds may be subject to estate taxes. One of the best ways to keep life insurance out of your taxable estate is to place the policy in an irrevocable life insurance trust (ILIT).

If you’re thinking about setting up an ILIT for an existing policy, consider doing so before the end of the year, particularly if it’s a high-cash-value policy.

Please see full publication below for more information.

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DISCLAIMER: Because of the generality of this update, the information provided herein may not be applicable in all situations and should not be acted upon without specific legal advice based on particular situations.

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