Estate Planning Strategies Using Life Insurance


Banner image
Life Insurance

How can I use life insurance for estate planning to secure my beneficiaries and manage my estate?

How can I, as an individual planning my estate, effectively maximize the use of life insurance to ensure that my beneficiaries are financially secure and my estate is managed in accordance with my wishes, considering factors like tax implications, trust arrangements, and other strategic financial planning tools?

Nov 8, 2024 | Michael Benjamin Phillips, Seattle, WA
Answer
Mark Fitzpatrick
Head of Insurance, MoneyGeekUpdated December 17, 2024

Learn about the different types of life insurance policies and their costs relative to their payoffs, as well as what situations are and are not covered. Take notes or keep a spreadsheet so you can compare these things easier once you have compiled the information, as there will be a lot of numbers involved and it will be hard to keep track of them all otherwise. Once you know the numbers and have a reasonable understanding of what they mean, you can evaluate what is best for you and choose.

More About Life Insurance


Insurance
Vehicle Modifications & Insurance for Drivers with Disabilities (A Guide)
27 Dec 2024
Vehicle Modifications & Insurance for Drivers with Disabilities (A Guide)
Insurance
How to Defend Yourself Against Health Insurance Fraud and Scammers
27 Dec 2024
How to Defend Yourself Against Health Insurance Fraud and Scammers
Insurance
How to Choose a Rental Property to Fit Your Needs
27 Dec 2024
How to Choose a Rental Property to Fit Your Needs
Insurance
Average Cost of Life Insurance in May 2024
27 Dec 2024
Average Cost of Life Insurance in May 2024
Insurance
Cheapest Health Insurance in Louisiana (2024 Plans)
27 Dec 2024
Cheapest Health Insurance in Louisiana (2024 Plans)
Insurance
How Does Life Insurance Work?
27 Dec 2024
How Does Life Insurance Work?
Insurance
The Average Cost of Health Insurance in 2024
27 Dec 2024
The Average Cost of Health Insurance in 2024
Insurance
Cheapest Car Insurance in Maine (June 2024)
27 Dec 2024
Cheapest Car Insurance in Maine (June 2024)