Estate planning with structured settlements
Article Abstract:
A structured settlement can raise estate planning issues for the injured party since the payments may last beyond one person's lifetime. The important issues are to ensure the correct beneficiary receives the funds and to minimize federal estate taxes, especially for settlements of $600,000 or more, which exceeds the estate tax exclusion. The best method is to name the specific beneficiary as long as it is possible to change the election while making the estate the beneficiary increases estate tax liability but gives flexibility over the disposition. Three examples are provided.
Publication Name: Journal of the American Society of CLU & ChFC
Subject: Law
ISSN: 1052-2875
Year: 1996
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Tax planning with life insurance: the myths of charitable split dollar and charitable pension
Article Abstract:
Some financial planners and attorneys have treated certain forms of charitable giving via life insurance primarily as a way to earn money or get the donor a tax deduction, rather than a charitable gift. Technical expertise is vital to the proper functioning of the legitimate process, and its corruption could lead to increased scrutiny or even elimination of such programs. Specifically, a grantor charitable lead unitrust is superior to a charitable pension or a charitable/charitable-reverse split dollar.
Publication Name: Journal of the American Society of CLU & ChFC
Subject: Law
ISSN: 1052-2875
Year: 1995
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