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.
Donated policy to a charity ran out of cash value to pay premiums
Donor was able to create a living legacy and enjoy seeing the gift used while living.
Business was sold, and the policy was no longer needed
Business owner was able to receive additional value above and beyond the sale of the company.
Client outlived all planning and premiums were due
The adult children no longer needed to fund the caregiving needs.