Estate Planning: Make It Your Goal to Die Broke
Your estate is the legacy you leave for your family. You want them to have as much of your assets as possible; so, you need a way to keep the government from taking so much during probate. You also want to thoroughly enjoy your life, right to the end. To accomplish all of this, your best option is to die broke.
Yes, this sounds like a contradiction. But it’s a very shrewd strategy, to liquidate your assets and their heavy estate-tax burden, replacing them with a life insurance policy. You will effectively shut the government out of your affairs by leaving nothing to be taxed. Your estate is still intact, but it’s now in the form of a tax- and probate-free insurance policy.
For example, if you have estimated your net worth to be around $3 million, you then purchase a life insurance policy for that value, selecting a permanent option to ensure it’s still there when you die. Your financial advisor can help you choose the right policy for you.
You create a new asset this way, reserving part of your newly enlarged cash flow to pay for it. Since insurance policies are tax exempt and have specific beneficiaries, the money will be immediately available on your death, bypassing what can be a lengthy probate process, to quickly provide your family with support.
You can now live a worry-free life, because you know that the full value of your estate will be passed on to your children. Max out your pension; sell everything and live off your assets fully; take the vacations you want and enjoy your life. You get to spend it and you also get to give it away.
All the money you’ve ever earned has become available to you. Many people live very carefully in their golden years, to ensure they leave something behind. But now your family is taken care of. So, don’t worry about that; do some more traveling; buy the car you want; you’re not infringing on their inheritance.
Go ahead and enjoy your life; there’s nothing wrong with it. Call your Financial Advisor to discuss how this clever strategy could be just right for you.
I am not real wonderful with English but I line up this real easygoing to interpret. Hannah Dave Irena
Excellent, what a webpage it is! This blog provides useful data to us, keep it up. Cesya Lief Sheeb
Touche. Great arguments. Keep up the amazing work. Deirdre Tracy Lucilla
I really like it when people get together and share opinions. Pierrette Stanley Nikolaus
I really like your writing style, excellent information, regards for putting up : D. Koressa Bruno Ethelyn
Merely wanna state that this is invaluable , Thanks for taking your time to write this. Vittoria Bran Barthold
Yes! Finally something about vadodara escort service. Kore Robinet Sorel
As you now realize, blogging can be fun and effective for just about anyone. Jasmina Ruttger Jacy
You should be a part of a contest for one of the greatest websites on the net. Paige Dane Lev
You can increase your soccer playing stamina levels by running long distances during the off season. Margareta Constantine Winsor
Wow, this article is good, my younger sister is analyzing these kinds of things, so I am going to inform her. Mimi Emlen Walsh
What a great list of books. I have another book to add to the list in case others were interested in good books. Edie Stuart Varhol
Thanks so much for the article post. Really looking forward to read more. Cool. Tracey Hadley Mercie
Pretty! This has been an incredibly wonderful post. Thank you for supplying this info. Ronnica Wallache Dorolisa
Your method of explaining everything in this post is truly good, every one can simply understand it, Thanks a lot. Ivett Freeman Krell
Wonderful article! We are linking to this great article on our site. Keep up the great writing. Dasha Kliment Flore
Hi there to all, how is all, I think every one is getting more from this web site, and your views are good in support of new users. Dionis Akim Lefton
I like this post, enjoyed this one thanks for putting up. Laurette Urbanus Jessy
Way cool! Some extremely valid points! I appreciate you penning this post and also the rest of the website is very good. Caril Von Laughlin
Now I am going to do my breakfast, once having my breakfast coming yet again to read additional news. Klarika Ernestus Marybelle
My family members always say that I am killing my time here at web, however I know I am getting know-how all the time by reading such nice posts. Lexy Tuckie Enrica
I consider something truly interesting about your website so I saved to fav. Doralin Aldwin Pinckney
Check beneath, are some absolutely unrelated internet sites to ours, having said that, they are most trustworthy sources that we use. Tallou Case Lyndel
Hey, thanks for the article post. Really looking forward to read more. Really Great. Cristy Fidole Wesley
Does YouTube know? I just watched a Gambling Disorder Ad. Brittni Mischa Boff
I visited multiple web pages but the audio feature for audio songs present at this web page is genuinely fabulous. Florry Chip Zakaria
Thanks so much for the article post. Thanks Again. Fantastic. Ottilie Launce Aggappora
An outstanding share! I have just forwarded this onto a co-worker who was conducting a little homework on this. Desiree Olivier Redford
As society explain country raising weather of. Sentiments nor everything off out uncommonly partiality bed. Emyle Bram Ainsworth
Thanks for sharing your thoughts. I truly appreciate your efforts and I am waiting for your further write ups thanks once again. Melisande Chaddie Ludovick
You made some nice points there. I looked on the internet for the subject matter and found most individuals will agree with your site.