Case Study Details

CHALLENGE:

A 53-year-old investment banker owned 25% of the business in which he was principal partner. At the time, he had a personal net worth of $17M and was somewhat illiquid. He was looking into life insurance policies for the purpose of funding projected estate tax liabilities and that could also allow him the option of drawing funds from the policy in retirement.

SOLUTION:

After consulting with our team, he obtained two separate policies via a premium funding strategy. The premium funding strategy employed allowed him to fund both policies without the need to liquidate any of his investments to pay the required premiums.

RESULTS:

The client now has one policy that is held within an Irrevocable Life Insurance Trust that will remain outside of any future estate tax calculations while providing tax free dollars to offset the projected estate tax liability upon his passing. He has direct ownership of the second policy, which will provide him with supplemental tax-free income when he retires.

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