Planning Ahead
Investment Advisor (03/01/02) p.68; Weese, Karen Hansen; Camporeale, Liana

Although the fate of the federal estate tax remains unknown, members of the insurance industry are convinced that survivorship life coverage is still a viable tool for the wealthy. Financial planners agree that survivorship life is not only effective coverage for estate tax purposes, but it can also be useful in providing for the long-term needs of children with special needs and as a tool to leave a substantial gift to charity upon death. Laurie Lewis, chief counsel for tax matters at ACLI, adds that survivorship policies are an effective means of guaranteeing the safe transfer of wealth to children.

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