Everything
is TAXES when your estate is above approximately $1 million
dollars. EVERYTHING IS TAXES. Estate Taxes start at $2
million for a married couple.
That Tax ranges from 37.5% to 55% on the
excess over the two million dollars. Income tax and inheritance
tax can start below that $2 million dollar mark. If you have
Annuities or IRA's or 401(k)'s, etc. they can be taxed as Ordinary
Income. To you it's income, to your heirs it's inheritance & income.
Your Annuity is going to be taxed on the gain. Your IRA is taxed
on the whole thing, because you deducted it from your income
(Pre-taxed dollars) and deferred the tax until later.
Now, many
of the Baby Boomers have these "Qualified" accounts,
and are now going to pay the price of Taxes. Their heirs will
pay the price on those accounts that are not spent down. And,
they can get as little as .22 cents on the dollar.
ALL of this
can be avoided now, by just paying a little tax now instead of
a Huge tax later on. Here are two examples (example 2 assumes
a 60 year old male buying $3 million dollars of coverage - cost about
$1 million):
Example #1 - A married
couple with:
- $1 million dollars in the Bank
- $1 million dollar
Home
- $1 million dollars in an Annuity / IRA
NET ESTATE TO HEIRS:
about $2.5 million dollars
Example #2 - A married couple
with:
- $1
million dollars in the Bank
- $1 million dollar Home
- $1 million
dollars (Safe / Liquid Cash) in a paid-up $3 million dollar Life
Insurance
policy (kept out of the estate with proper ownership)
NET ESTATE TO HEIRS: about
$5 million dollars - DOUBLE THE FIRST CASE!
Call us direct now
for an Estate Review at No cost and No obligation @ 760.788.5777
or Just fill in the consultation
form and send it in.
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