THE CARDINAL GUIDE TO:
Strategizing Life Insurance & Estate Planning
￭ Calculate the amount of money your survivors need to receive quickly after you pass away. Consider purchasing life insurance. If you don’t want to pay ongoing premiums, consider single- premium whole life insurance.
￭ Update all of your beneficiary designations. Beneficiary designations trump the will and go straight to the beneficiary.
￭ You need at least four legal documents prepared by an attorney knowledgeable about elder law: a will, a health-care power of attorney, a financial power of attorney, and a HIPAA release.
￭ Federal estate taxes are no longer relevant for estates under $5.43 million, or $10.86 million for couples. The step up in basis at death for capital gains taxes is the more relevant issue for middle-class taxpayers.
￭ Want more information? A complimentary life insurance quote? Fill out the form below so we can give you some personalized options!
Want to learn more about life insurance? The National Association of Insurance Commissioners produces this guide to educate consumers when shopping for life insurance. This guide does not endorse any company or policy.