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AALU: Better Together – The Importance of Collaboration Among Client Advisors When Acquiring Life Insurance (With Case Study)

The purchase of life insurance products and their implementation into a client’s broader legacy planning strategy requires clients to navigate through a complex web of financial and cashflow management strategies, transfer tax considerations, and tax reporting obligations that must be approached differently on a client by client basis.  Failure on the part of advisors to work together can result in avoidable planning gaps, most notably: (1) inability to fund premium payments on a sustainable basis; (2) inefficient use of lifetime estate, gift and GST tax exemption; and (3) poor product maintenance leading to negative outcomes. 

Previous reports have covered the many reasons why clients should use life insurance as a part of a comprehensive legacy plan to preserve wealth and family harmony among future generations.  This Report focuses on the importance of collaboration among advisors in implementing insurance based legacy planning. 

Read the full report here