Accumulating a large estate is only half the battle; the other half is preserving it. A client’s estate today is composed of all assets – both tangible and intangible. Those assets generate income and capital gains.
Let’s convert (metaphorically) a client’s assets into a herd of cattle. When a client dies, the IRS knocks on the door and demands that the client’s family give up 50 percent of the herd. But if the client had the foresight to take a little bit of the milk produced each month to purchase a life insurance policy to pay the IRS, the client then preserved the herd for his family.
Please review the Compelling Conversations Guidebook, and explore the additional content and resources in this series.