This video discusses two tax-advantaged vehicles to transfer your wealth, tax free gifting and an irrevocable life insurance trust. No one likes to think the wealth they’ve worked too hard to amass might eventually end up in Uncle Sam’s pockets as much or more than in their own family members’. But with a little well thought out wealth planning, this scenario can easily be prevented. Using one or more specific tax-advantaged vehicles can be very effective in helping you accomplish your succession planning goals.

When transferring wealth to your heirs, you don’t want to be required to pay additional taxes on the wealth you have worked hard to amass.  Tax free gifting is a way to transfer your wealth on a yearly basis as an effective and easy-to-execute strategy to transfer your wealth.

An Irrevocable Life Insurance Trust – or ILIT – is a trust established expressly for the purpose of holding a life insurance policy. When it comes to transferring wealth, an ILIT is a tax-advantaged vehicle worth considering. They can be very effective in helping you accomplish your succession planning goals.

Related Posts

1 reply

Trackbacks & Pingbacks

  1. […] If you have questions about whether or not a Private Placement Life Insurance is right for you, contact your Untracht Early advisor.  And for information on how to effectively use other tax planning vehicles, be sure to watch this month’s Next Up video. […]

Comments are closed.