ESLI
ESTATE AND BUSINESS-SUCCESSION PLANNING USING LIFE INSURANCE
The purpose of this
course is to enable the CPA to advise clients on choices of life insurance
product design for their personal accumulation and estate-planning needs.
The use of life insurance in the business environment will also be discussed,
including the use of life insurance in the compensation and business succession
plan. The focus of the course is the creation, preservation, and transfer
of wealth for high-net-worth individual and business clients. Full coverage
is given to the equity split-dollar rules.
Major topics
include:
- The types of life
insurance products available and suitable for specific uses
- The income, estate,
gift, and generation-skipping transfer tax advantages uniquely afforded
to life insurance products
- How to design the
efficient transfer of wealth through life insurance trusts
- The use of life
insurance to create liquidity for the estate of a closely held business
owner
- How to use life
insurance in the compensation plan to provide benefits to owners and
other key employees.
- The use of "split
dollar" life insurance, the exciting opportunities provided by private
split dollar coverage, and the new proposed regulations
- How to design an
effective transfer plan for a closely held business through insured
buy-sell agreements
- How to use life
insurance to enhance a family limited partnership
- How to extract
the "living" benefits of a life insurance policy on a tax-favored basis
- How to use life
insurance in a charitable giving plan
- Case study applications
for advanced life insurance planning
- The use of dynasty
trusts to create multi-generation wealth accumulation and transfer
- The role of life
insurance after the 2001 Act
Level
of knowledge: Intermediate
Field
of study: Taxes
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