It seems lately that a lot of young couples have asked me how they can care
for their children financially in the event that one or both of them were to suddenly die.
One way to care for your children financially is to fund a trust for the
purposes of buying life insurance for the benefit of the children.
They ask why can I not just purchase the insurance? Well you can,
but estate taxes can be changed by Congress at any time. By funding a
trust and having the trust purchase the life insurance you are able to
pass the life insurance proceeds outside the estate, thereby reducing
your estate tax liability. For more questions on this topic and/or to
schedule your free consultation please contact James Fancher at 205-912-8255.
Want to know more? Check out our video with Tragg Tew from Alfa Insurance and other helpful videos on our YouTube channel.
-Blankenship Harrelson, LLP
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