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Follow a checklist to help decide what to do with estate life insurance
Before recent changes in estate laws, it was common for attorneys, financial planners and insurance agents to recommend purchasing life insurance — commonly called survivorship life — in an irrevocable trust designed to provide liquidity at the death of yourself and your spouse. That was then. This is now.Today, more taxpayers, i.e., those with combined estates less than $10,600,000, no longer have to worry about the big slice of taxes on your accumulated assets when you and your spouse pass away. The question is then — why keep the life (Read more...)