The objective of this course is to prepare CPAs for the most complicated, misunderstood, yet ubiquitous need for client counseling -- life insurance planning and evaluation. The course provides the tools to cut through all the complexity to the heart of the critical planning issues with the proper assessment of alternatives and tax-related consequences.
- A complete discussion of all types of life insurance: When to use it; Advantages and disadvantages; Tax implications; Fees and other acquisition costs; Review of insurance products and their features; Commonly asked questions
- Determining your client's need for life insurance
- Legal aspects, including special policy provisions and riders
- Planning strategies using life insurance, including its use in buy-sell agreements, charitable giving, key- employee protection, split-dollar arrangements, trusts, and more
- Deciphering policy illustrations and ledger statements
- How life insurance can affect your client's income, gift, estate, and generation-skipping taxes
- Liability, property, and other non-life insurance products -- Understanding how they work and when their use is indicated