Need, Greed, Faith & Charity
(6) CE credit hours
This is a six-hour course designed around the four (4) major uses for Life insurance.
We explore the idea of using life insurance to take care of family needs. Discussion about regular family needs analysis, income replacement, the problems facing people with Social Security dependent shortfalls, estate conservation using irrevocable life insurance trusts, new capital gains tax planning, and finally how to use the gift tax rules to gift an almost unlimited amount of money to heirs with no adverse tax consequences.
The next part of the course focuses on the cash value aspects of life insurance and it’s usage concerning economic outlook concerning future tax brackets, a comparison of regular IRA versus Roth IRA‘s, how much to fund a 401(k) with, layering product acquisition based on personal risk assessment, comparing Roth IRA‘s to variable universal life and other variable insurance products, whether it is better to buy term and invest the difference, converting low yield CDs into better positioned long-term care and life benefits, deferred compensation ideas and finally using split dollar techniques to divert corporate dollars into purchase of personal insurance.
Plan and execute.
Students will know how to plan and execute a gift of life insurance to faith-based organizations (I.e. giving a life insurance policy or annuity to a church charity, or synagogue).
How charitable remainder trusts (CRT’s) can be used to fund philanthropic gifting. A thorough discussion will involve whether to hold, sell or give assets away, how to maximize the attendant benefits of maximum gifting under current and future projected of tax laws.