Lashawn E. Mikell

Happy Tuesday!!! Tip of the Day: Other Usage of Life Insurance:

1. Charitable Giving.
2. Collateral for Loans.
3. Funding for College Education.
4. Supplemental Income for Retirement.
5. Withdrawal/Surrender of Policy for Cash.

Happy Thursday: Tip of the Day: How to Use Life Insurance Trust:

1. Special Needs Disability Funds Protection- use life insurance policy to fund future care without disqualification from governmental assistance.

2. Business Succession Planning
a. Provide Liquidity for Buy-Sell Agreements
b. Reduce Estate Taxes.
c. Help Maintain Business within the Family.
d. Business Stability.

Happy Wednesday!!! Tip of the Day: How to Use Life Insurance Trust:

1. Access to Liquidity for Estate.
2. Borrow from Life Insurance Trust.
3. Asset and Creditor Protection.

Happy Tuesday!!! Tip of the Day: What Can you Use Life Insurance Trust for:

1. Avoid Probate.
2. Create Distribution Strategy for heirs.
3. Tax Planning for Estate.

Happy Thursday!!! Tip of the Day: The Benefits of a Life Insurance Trust:

1. Avoid Estate Taxes.
2 Protects you from Creditors.
3. Manages Distribution of Assets.
4. Avoid Probate Process.
5. Maintains Privacy of Estate

Happy Wednesday!!! Tip of the Day: How does a Life Insurance Trust Work:

1. Create an Irrevocable Trust & Appoint a Trustee to Manage Trust.
2. Place Life Insurance Policy into the Trust.
3. Pay Premiums through the Trust by making gift funds through the Trust. Pay premiums with those funds.
4 . Once Grantor dies, the Life Insurance will pay death benefits Directly to Trust.