Although most people don’t like to talk about it, life insurance is an essential part of setting up your overall financial and estate plan. But purchasing a life insurance policy correctly goes far beyond just estimating how much you’ll need to cover final expenses, potential debts, and estate taxes.
What many don’t realize is that buying life insurance and keeping the policy in your own name can actually do more harm than good when it comes to calculating the amount of estate tax that is due. Continue reading “How Does Life Insurance Affect Your Estate Plan?”