The Tax Cuts and Jobs Act of 2017 meant Judy no longer needed all the life insurance she’d put in place years ago. Her estate planning attorney requested an appraisal for secondary market value. Through the appraisal process, they opted to sell one of the policies and create enough liquidity to fund the other policies for years, allowing her to fund her own caregiving and lifestyle needs.
Restaurant owner in his early 70s
Businesses were severely affected by the COVID-19 pandemic.
Policy was underfunded and sitting in an ILIT
Eliminated future premium payments and used the funds for medical bills.
Their needs had changed, and they no longer needed the policy
They were able to uncover significant liquidity and fund their retirement.
