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Article: Outfoxing the Estate Tax: Uncertainty around the estate tax repeal, expected to be completed in 2010, has prompted insurers to be proactive-and to teach reps to exploit that ambiguity to increase sales now. Wait, these are insurers?
- Article from:
- Banking Wire
- Article date:
- May 15, 2003
CopyrightCOPYRIGHT 2003 SourceMedia, Inc. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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Though insurance is an inherent part of any estate-transfer strategy, banks have been slow to push this element of wealth management, preferring to pass it onto their trust and private-banking brethren ot any more, as progressive insurers capitalize on the uncertainty surrounding the repeal of the estate tax and help bank reps identify those in need first.
Currently, the estate tax is set to be phased out in 2010, but will return in full force in 2011 without new legislation. Life insurance is often recommended to help pay estate taxes, transfer wealth, make charitable gifts and pass on business interests.
Brad Powell, head of Jackson ...