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Old 11-21-2018, 03:46 PM   #2438
Great Expectations Great Expectations is offline
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Join Date: Dec 2008
Location: Joplin, MO
Casino cash: $13982338
Quote:
Originally Posted by Amnorix View Post
What tax? Estate taxes? Federal estate tax threshold is $5.6 million so it's alot of cheddar before you need to worry about structuring your estate plan around tax issues. A brief bit of online research suggestst hat Missouri has no estate tax, though if you're in another state your mileage may vary.

Obviously, good estate planning can be critical for many other reasons, but unless you have pretty serious coin, estate taxes isn't likely to be a key driver.
Good point on the taxes. Avoiding any court concerns/probate is probably the best reason for the trust. Having the trust own real estate and life insurance policies make a smoother transition than a living will, but most living wills are actually trusts now.

Besides that unless you don’t have the discipline or can’t automatically have your 401k money taken out of your paycheck I don’t see why you’d want a whole life policy.

That said, if you make too much money to invest in a Roth can you buy a whole life policy that is effectively a Roth? Maybe have the death benefit a negligible number and put a lot of money into the whole life policy??
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