Editor’s Note: As of 2013, Ohio non longer has an inheritance tax. Residents may still be subject to Federal Estate Taxes, however. It is also possible that Ohio residents could pay inheritance taxes on property and assets inherited from a deceased resident of another state. Furthermore, we still see many of our large-estate clients using …
Category: Life Insurance, Retirement Planning
September is life insurance awareness month, thus we will do our part to discuss the overall benefits of these products. When compared to other financial instruments, life insurance policies have several unique and attractive attributes. Policies will come in many shapes and sizes with several options for the insured, but it may be most important to simply …
Category: Life Insurance, Retirement Planning
Life insurance shoppers want to know: What is the difference between whole and term life insurance and what type of policy should I purchase? The answer is usually simple depending on the circumstances. Listed below are life insurance explanations as well as recommendations for purchasing a life policy, tax avoidance and estate planning strategies. Whole Life Insurance …
Category: Articles, Life Insurance, Wealth Transfer
There are several strategies you can use to pass assets to the next generation while mitigating taxes. This article will focus on life insurance for wealth transfer as it’s one of the most efficient. Life policies immediately create a fully valued tax-free asset upon first premium receipt. Our clients ask about cost effective ways to …
Category: Life Insurance, Wealth Transfer