Life insurance is an important method of estate transfer to at least consider because death benefits can pass to your heirs essentially free of taxes.
More Quotes from Mike Janko:
Our estate tax laws allow the heirs to inherit property with a new cost basis which is equal to the fair market value.Mike Janko
We have a lot of cases where couples are in second marriages and each has children of their own.
Mike Janko
There are lots of cases where someone names a trust as beneficiary because the husband (or spouse) is a bad money manager.
Mike Janko
If the child is the direct beneficiary, then all of the IRA assets go to the child upon the mother's death and are subject to income tax.
Mike Janko
Upon death, heirs receive a step-up in basis.
Mike Janko
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