Speakers: Michael Amoia

Year: 2019

The lifetime gift, estate and GST exemptions have more than doubled (until the end of 2025). So, what does this mean to you and your clients? And where does life insurance fit? This session will review the current rules, things to pay attention to between now and the end of 2025, planning ideas to present to your clients to maximize this short-term opportunity and how to position life insurance in the discussion of legacy planning. Many planning conversations are driven by the size of the client’s estate, so we’ll highlight ideas that may particularly resonate with different demographics. However, since “legacy planning” goes beyond just tax planning, many ideas will overlap and apply to a broad range of your clients. 3 session takeaways: 1. Understand how the increased exemption levels can provide clients the opportunity to build their legacy plans correctly. And since the rules say it is a “use it or lose it,” missing this opportunity could devastate a family’s wealth. 2. Legacy planning is very different from estate planning. Answer the question on why the Legacy Planning Process goes beyond the tax conversation and requires a lot more work for a family. 3. Life insurance is the perfect asset in the planning process because it provides cash for the family without the conversion costs and risks of other assets.