Under federal law, there are normally three taxes that are imposed on the transfer of assets: 1) the gift tax; 2) the estate tax; and 3) the generation-skipping tax.
Category: Estate Planning
Aug 22, 2010|
All consumers should have their life insurance policies reviewed if they have had them for more than a few years. Some universal life policies that were based on projections made when the economy was stronger may be “underwater” and may need more robust premium payments to sustain them over the long term. Premiums of other policies may be based on old tables measuring life expectancy. In this instance, individuals may be able to lower premium payments or increase the death benefit.