Life Insurance Analysis
Aug 31, 2010
From Legacy Moment eNewsletter (08/27/2010)
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Though the purpose of most succession plans may be transferring ownership of the operation during the owner’s lifetime, many owners, for various reasons, maintain some level of ownership until death. If this is the case in your family, planning to transfer an ownership interest held at death means the transfer must also achieve other goals, including minimizing the estate tax, providing financial security for a surviving spouse and transferring the balance of ownership to the intended successors.
A thorough financial plan for each family unit that is dependent on the operation will ensure that the plan satisfies all financial obligations and provides an adequate inflation-adjusted income. Your plan may include life insurance; if so, use the Life Insurance Needs Analysis tool from our Legacy Project Tool section.
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