What Tax Law Changes Impact Insurance In Estate Planning? Are you curious about how recent changes in tax laws can influence your estate planning strategies? In this video, we’ll explain the key updates and what they mean for your estate and insurance plans. We’ll start by discussing the new exemption limits and how they affect estate taxes on life insurance proceeds. You’ll learn how higher exemptions can reduce the need for complex trusts and what options are available to protect your assets. We’ll also cover the role of irrevocable life insurance trusts (ILITs) and how they can help keep your insurance benefits out of your taxable estate, while providing protection from creditors and ensuring liquidity. Additionally, we’ll explain the importance of considering state-specific estate and inheritance taxes, which may still apply even with federal changes. The video will also touch on gifting strategies, including increased annual gift exclusions, to help you transfer assets efficiently. Finally, we’ll emphasize the importance of regularly reviewing and updating your estate plan to stay aligned with current laws and your family’s needs. Whether you’re planning for the future or reviewing your current estate arrangements, this video will provide essential information to help you make informed decisions and protect your legacy.
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About Us: Welcome to Wealth and Estate Planners! Our channel is dedicated to helping you navigate the essential aspects of estate planning and elder law. We cover a wide range of topics, including Elder Law Basics, Wills and Trusts, Power of Attorney, Probate Process, Medicaid Planning, Long-Term Care Legal Issues, Guardianship and Conservatorship, Inheritance Laws, and Estate Tax Planning. Our goal is to provide you with clear and practical information to help you make informed decisions for you and your loved ones.
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By: Wealth and Estate Planners Title: What Tax Law Changes Impact Insurance In Estate Planning? - Wealth and Estate Planners Sourced From: www.youtube.com/watch?v=Zgay6WrTemY
