Best calculator for funding a partner ownership transfer?

The bottom line The best calculator for funding a partner ownership transfer starts with the estate-tax math that decides how much life insurance you need. Under IRC Section 2042, proceeds count in your gross estate if you keep any incidents of ownership at death. A properly structured trust can remove that exposure. Key facts Life … Read more

Life insurance for new homeowners โ€” What to Consider?

The bottom line Life insurance for new homeowners should be sized around the mortgage, the income a household would lose, and its dependents. Treat policy ownership as a separate estate-planning question: 26 U.S.C. ยง 2042 addresses when retained ownership rights can affect estate inclusion, so a licensed professional should review the structure before you apply. … Read more

Best ownership arrangement for married couples in community property states?

The bottom line The best ownership arrangement for married couples in community property states depends on the goal: personal control, simpler administration, or keeping life insurance proceeds outside a decedent’s gross estate. For that last question, the decisive issue is who holds policy rights at death, not the label placed on the trust. Key facts … Read more