Estate Planning Easy

[jethroacosta]

The Estate goes to three parties:

Government
Beneficiaries
Charity

It has to add up to 100%, the client picks which by planning or non planning. With no planning, the default is the government receives 35% on anything over 5 million. This 5 million estate limits is going to change in 2013.

For example a client with 6 million would have to pay $350,000 in taxes. Your clients can prepare (with leverage) by purchasing (Hartford) life insurance. With strategic planning you can pay zero to government. We can show you how...

Questions...please ask.

Jethro Acosta
[email protected]
Hartford Wholesaler
California
805-453-3036

 

[Fisher]

It's cool that your folks named you Jethro. Awesome name, that.

 

[jethroacosta]

Thanks...

People have generally two reactions depending on age. Older..Beverly Hillbillies. Younger...CSI
Funny thing is I work in Beverly Hills, but am more from the CSI generation. The name is from the new testament, Moses father in law was named Jethro.

 

[VolAgent]

All I can say is wow. They are really scraping the bottom of the barrel over there at Hartford.

 

[BNTRS]

Really? Only those three?

You mean, if you die and have creditors they don't come into the picture? Maybe California really is a great place to live.

But let's dig a little deeper shall we?

5 mill is the deduction per person. If I've got husband and wife and 6 mill, I could just re-adjust assets so I make use of both deductions.

But let's assume that's not the case. First and foremost, your numbers are wrong. 6 mill estate would have an estate tax liability if $330800.

For example a client with 6 million would have to pay $350,000 in taxes. Your clients can prepare (with leverage) by purchasing (Hartford) life insurance. With strategic planning you can pay zero to government. We can show you how...

Now, we could sell life insurance to an ILIT as is a traditional move, especially among agents who want to sell life insurance. But that doesn't remove the tax liability now does it? You still have to lend money to the estate and pay the taxes, or pay the taxes and use the life insurance proceeds to indemnify the loss.

However, if the estate is relatively liquid, you could use a GRAT (especially with current interest rates) and smoke this liability--and you wouldn't have to buy any insurance.

--------------

Now, just because you started the topic and want to profess expertise, let me throw a hypothetical at you, just to see how much you really know:

Male age 55 divorced with a $30 million estate. Virtually no planning done at all. Two kids he plans on leaving everything to. 95% of assets are in real estate so not a ton of liquid assets.

How do you--and the Hartford (haaa!)--take care of his estate tax issues?

 

[Larry Tew]

I see that Jeffro made all these posts between 3 and 4am. I'll give him the benefit of the doubt and assume he was not too drunk to type but yet drunk enough to not know that these posts were a real brain-fart of an idea.

I think just for kicks I'll call Hartford Monday and point out these posts. They really deserve to know.

 

[VolAgent]

I see that Jeffro made all these posts between 3 and 4am. I'll give him the benefit of the doubt and assume he was not too drunk to type but yet drunk enough to not know that these posts were a real brain-fart of an idea.

I think just for kicks I'll call Hartford Monday and point out these posts. They really deserve to know.

In his defense, he does appear to be in California. Only midnight there. Still, I'm sure his B/D would love to hear him soliciting insurance on a social media site.

 

[Larry Tew]

In his defense, he does appear to be in California. Only midnight there. Still, I'm sure his B/D would love to hear him soliciting insurance on a social media site.

True. Besides, those posts would be just as loopy at 4pm as 4am.

 

[WinoBlues]

YouTube - Guns N' Roses - Welcome To The Jungle

Big boys and girls only.

 

[Franz Kafka]

Male age 55 divorced with a $30 million estate. Virtually no planning done at all. Two kids he plans on leaving everything to. 95% of assets are in real estate so not a ton of liquid assets.

How do you--and the Hartford (haaa!)--take care of his estate tax issues?

There's only one reason why I study advanced estate planning - so I won't completely forget everything about it. Have never done it and will most likely retire without ever doing it. The wholesalers should think about that. Small business and middle market is where the most needs are found.