6 tax opportunities to take advantage of now

6 tax opportunities to take advantage of now | LifeHealthPro.

Transferring Ownership Of Life Insurance

What is the value of a life insurance policy when it is transferred from one policyowner to another policyowner? Are there guidelines we can rely on to determine the value for income tax purposes, gift tax purposes or sale purposes, depending on the facts of the case? These are questions that I am frequently asked. … Continue reading

Passing On Family Wealth Without Making Gifts

New Wealth Transfer Opportunities. At the end of 2010, the Tax Relief, Unemployment Insurance Reauthorization and Job Creation Act of 2010 (TRA 2010 or the Act) became law. Its major purpose was to continue the “Bush tax cuts” through 2012. In the area of federal transfer taxes, however, TRA 2010 didn’t just extend those tax … Continue reading

Beat the Estate Tax Blow: with Deferred Annuities and an Irrevocable Trust

Is life insurance not an option for your client when it comes to legacy planning? Try an annuity instead. The hinge around which estate planning revolves is gifting. The future growth in value of the asset from the date of gift to the date of death will be removed from the estate for estate tax … Continue reading