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When creating or reviewing an estate plan, one thing people are encouraged to consider is the inclusion of a life insurance policy.

Your life insurance policy is only worth having if it grows and changes with you and your circumstances. As life happens, your situation will change and evolve. Your life insurance document should change and evolve with it.

Life insurance is a great way to look after your loved ones. You can support them in life with the confidence that they will not be left out in the cold after you’re gone.

When considering the use of life insurance for your business, careful planning with the help of your professional advisers is essential.

Although split dollar life insurance arrangements have merit as a supplemental benefit for many business owners and key executives, they are generally not viewed as a practical option for S corporations.. Contrary to what some may think, split dollar life insurance may offer benefits to S corporations.

Many estate planning practitioners view the irrevocable life insurance trust (ILIT) as a flexible and useful tool that can provide a number of benefits to their clients.

Unfortunately, you can never know what tomorrow will bring. If you are currently operating without a buy-sell agreement in place, consider putting this at the top of your priority list.

Many business owners do not insure their single most valuable asset—their ability to earn an income and manage their business.

At the time of your death, if you have made your estate the beneficiary or retain incidents of ownership in a policy, the proceeds of the policy will generally be included in your estate for federal estate tax purposes.

With proper guidance, it is possible to keep your life insurance policy proceeds out of your estate and to also provide immediate funding for short-term financial needs.