Life Insurance CLE
The American Bar Association Section of Real Property, Trust and Estate Law and the ABA Center for Continuing Legal Education are sponsoring a teleconference and live audio webcast on October 2, 2007 entitled Effective Use of Life Insurance in Estate Planning.
Here is a description of the program:
Life insurance is an important part of many clients’ estate plan. Its uses include providing liquidity to pay estate taxes, final expenses, and the cost of administration; equalizing the value received by heirs; and providing cash for the purchase of a business interest as part of a buy-sell arrangement.
With the continuing uncertainy in federal estate tax laws, clients want flexibility in their estate plans. Life insurance in conjunction with carefully drafted life insurance trusts can help provide that flexibility.
With proper planning, life insurance death benefits can be received without being subject to either federal estate tax or income tax. Mistakes can cause unexpected income tax, gift tax, or estate tax liabilities.
Life insurance policy features are constantly evolving. A familiarity with the types and features of policies available is crucial to help your clients select the right product to accomplish their objectives.
Attend this program to learn:
- Tips and techniques for using life insurance and life insurance trusts to provide flexibility in estate planning
- Some life insurance tax traps to avoid
- New rules for employer-owned life insurance
- Recent life insurance product developments and how to examine insurance policy features