Leveraging life insurance policies for estate taxes

Transcription:

So, often, one of the concerns that clients have is how am I going to pay estate taxes when I pass away. How are my beneficiaries pay estate tax without having to sell the assets that they're receiving? If you have cash or if you have marketable securities, things that are readily liquid assets, then the answer is easy because you're able to provide cash to pay the estate tax. When your primary asset is your home, which it is for so many people, you don't wanna have your beneficiaries have to sell the home in order to raise funds to pay the estate tax. So, one of the ways that you can provide funds to make sure that there are assets available to pay estate tax is to have a life insurance policy in place, that its purpose is to provide additional liquidity at your debt so that there's a source of funds to pay estate tax and the family home or even a family business, for example, doesn't have to be sold in order to satisfy the estate taxes.

Video Categories: ALL PARENTS, Financial Planning and Budgeting, Guardianship, Wills and Trusts

Estate & Tax Attorney Stefanie Lipson explains how to help your beneficiaries pay the estate tax without having to sell the assets you left them by having a life insurance policy in place

Transcript

Expert Bio

Stefanie Lipson

Estate & Tax Attorney

Stefanie J. Lipson is an attorney in the Family Wealth Planning Group of Greenberg, Glusker, Fields, Claman, & Machtinger, LLP. Stefanie’s practice focuses on comprehensive estate planning for high net worth individuals, family business succession planning, probate and trust administration and the law of tax exempt organizations. Stefanie counsels her clients with a holistic approach to wealth transfer solutions, structuring plans to meet a family’s individual needs while addressing the complex estate, gift and income tax implications of wealth transfer. In addition, consistent with Stefanie’s belief that the most effective estate planning begins early, Stefanie has developed an estate planning program designed specifically to meet the planning needs of young families as they encounter common life events.

Stefanie’s unique approach and application of Trust and Estate law has been well acknowledged by the legal community. She served as a panelist at the 2010 Southern California Tax and Estate Planning Forum in a discussion involving multijurisdictional issues in estate planning and has authored publications for The Los Angeles Daily Journal and The Recorder. Stefanie has been listed in Southern California Rising Stars each year since 2009.

Stefanie received her Bachelor of Arts in 2003 from University of California Los Angeles, graduating magna cum laude with the distinction of departmental honors and a member of Phi Beta Kappa. Stefanie received her J.D. from the University of Southern California Law Center in 2006. Following her graduation from USC, Stefanie clerked for the Honorable Fred Keiser, Jr. in the New Jersey Superior Court, Family Law Division. During her time with the court, Stefanie also served as a court appointed mediator for small claims civil matters.

In furtherance of her estate planning work, Stefanie is currently pursuing a Master of Laws in Taxation (LL.M.) from New York University School of Law. Stefanie’s studies at NYU focus on estate, gift and income tax matters relating to wealth succession planning and family business ownership.

Stefanie lives in Los Angeles, with her husband Marc and their new son Noah, whom she regards as her greatest achievement.

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