Individual Life Insurance / Wealth Transfer

Strategy

Selecting a course of action among various options that address your personal goals and objectives.

Selection

Matching product types, carriers, and financing methods with your stated personal goals and objectives.

Service

Ensuring that designs made in the Strategy/Selection stages are consistent with your evolving goals and objectives.

Our Process

Individual Life Insurance / Wealth Transfer

  • Income Replacement
  • Asset accumulation
  • Irrevocable Life Insurance Trust Funding
  • Charitable Funding
  • Inter-Generational Funding
  • Family Partnership Funding

Life insurance is one of the most powerful vehicles available in any client’s overall financial plan available today. The benefits of life insurance include:

  • Potential tax-deferred growth of policy cash values
  • Potential tax-advantaged access to policy cash values
  • Income tax-free death benefit
  • Potential estate tax-free death benefit

These benefits are not necessarily “handed-out” to the policy owner. Proper care must be taken to ensure the realization of these benefits through the plan chosen, the product or products selected, and the maintenance of your policy or policies. Some common areas in which BEJS focuses upon are replacing income at a loved one’s death; supplementing retirement income; and transferring wealth.

As a successful individual, you have worked hard to build and maintain significant personal wealth. What you may not realize is how quickly estate taxes could sweep a major portion of your wealth away. Depending upon the circumstances, more than half of your wealth could be immediately eroded by estate taxation! As a general rule, your assets can eventually end up at three places:

  • Your Family
  • A Charity (or other designated beneficiary)
  • The IRS

The focus on Personal Life Insurance provided by Barry, Evans, Josephs & Snipes will allow you to:

  • Ensure the proper timing and the amount of distributions to your chosen beneficiaries
  • Ensure sufficient income for remaining loved ones
  • Minimize gifting consequences
  • Reduce or eliminate estate taxes
  • Provide liquidity to pay estate taxes without the need to sell any personal assets or shares of the family business