Charitable planning with life insurance

Article Abstract:

A donor's charitable deduction might be disallowed in some instances when life insurance is used to fund charitable gifts. Estate planners should make sure that all incidents of policy ownership are transferred and that all state laws are observed regarding direct contribution of policies to charities. Tax deductions can also be adversely affected by improper beneficiary designation of charities. Tax considerations in the use of charitable remainder trusts and private foundations are also discussed.

Educational, religious, etc. trusts, Educational, Religious, Charitable Trusts, Grantmaking Foundations, Donations, Charitable trusts, Charitable remainder trusts, Charitable contributions, Charitable donations

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The survivor life stand-by trust: a new planning alternative

Article Abstract:

A survivor life stand-by trust (SST) allows married clients to control a survivorship life policy and its cash value until the death of the first spouse. An SST provides an alterative to the traditional irrevocable life insurance trust. SSTs provide clients with privacy concerning the arrangement and allow them to amend or revoke the trust prior to a spousal death, features unavailable under an irrevocable insurance trust. SSTs also allow insurance premiums to be paid without gift tax assessment.

Other Financial Vehicles, Trusts, not elsewhere classified, Trusts ex Ed, Religious, Charitable, Trusts (Law), Life insurance trusts

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Choosing the most appropriate insurance policy and company

Article Abstract:

Traditional whole life, universal, variable, survivorship, and term life insurance are insurance products with specific uses and goals that should be understood by estate planners and client alike. Insurance companies should be chosen on the basis of their financial strength, policy performance, policyholder treatment, and overall experience. Screening methods for assessing companies' financially are also discussed.

Analysis

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