Mid 30s, $12m+ liquid net worth -- more if you include value of small business. Working through some estate planning with the wealth managment division of the accounting/tax firm I work with.
Their insurance team is suggesting a whole life policy inside an ILIT to handle estate taxes decades from now. The hypothetical they're running is that I contribute $100k/year for 8 years and that should amount to ~$35m in 40-50 years to help with estate taxes when heris inherit.
Perhaps I don't have the specifics right -- but is anyone aware of this type of structure? Any thoughts / insights into whether this is legit or snake oil?
Their insurance team is suggesting a whole life policy inside an ILIT to handle estate taxes decades from now. The hypothetical they're running is that I contribute $100k/year for 8 years and that should amount to ~$35m in 40-50 years to help with estate taxes when heris inherit.
Perhaps I don't have the specifics right -- but is anyone aware of this type of structure? Any thoughts / insights into whether this is legit or snake oil?
Statistics: Posted by Sinjin55555 — Thu Sep 19, 2024 2:55 pm — Replies 7 — Views 192