By Daniel A. Perry, Esq. I was speaking with a client recently as part of their comprehensive estate and wealth planning and they asked if their life insurance proceeds would be protected from creditors in the event of their death. This is a very common question and the answer depends almost entirely upon state law. In […]
By Daniel A. Perry, Esq. I was recently speaking with a client who said to me “Dan, I have a simple situation. My financial advisor said all I need is a simple will, powers of attorney, and advanced healthcare directives. My financial advisor told me that since all my accounts have beneficiary designations and my estate […]
Every time I meet with a client I hear the same misconception, “We have life insurance, but that is tax free for our children, right?” Wrong! Life insurance death benefits are not necessarily tax free. Life insurance death benefits are included in your taxable estate when it comes to calculating the estate tax liability. Therefore, let me […]