Posts Tagged ‘education’
529 Plan Estate Tax
July 27th, 2011
Question: What are some reasons why someone would need permanent life insurance?
I dealt with over 150 clients in my career and haven’t found a single reason why someone would need permanent life insurance. All my clients have term insurance b/c I don’t see why anyone would need life insurance forever. I believe someone needs life insurance at the time when they need it most, which is when they have little savings and lots of debt to pay (such as a mortgage). While I protect the client’s income with term life insurance, I also help them save money for retirement by opening IRAs and/or variable annuities or tax-exempt mutual funds. For kid’s education, I use either a 529 Plan, Coverdell, or UGMA. For estate planning, I setup trust funds.
Answer: Personally, I think whole life insurance is a gimmick…
Estate Tax Replaced In 2010 With Capital Gains Tax – Skloff Financial Group
Posted in 529 Plan Taxes | 
Tags: 529, 529 plan estate tax, college, education, finance, money | 
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