Safeguarding Your Legacy: Unveiling The Power of Section 72 Insurance.
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In the realm of financial planning, ensuring the smooth transfer of wealth to loved ones is paramount. For couples like John and Mary, aged 54, the prospect of leaving behind a substantial estate raises important questions about taxation and inheritance. Without proper planning, their beneficiaries could face a hefty tax bill, potentially jeopardising the legacy they wish to leave behind. Let’s explore how Section 72 insurance serves as a vital tool in mitigating this risk and securing their family’s future.
Does Starting a Whole of Life Section 72 Insurance Policy Make Financial Sense?
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Initiating a Whole of Life Section 72 insurance policy for estate planning purposes requires a thorough examination of various factors, including tax implications, inflation considerations, and the inherent uncertainty in calculating inheritance taxes. While the numbers provide a framework for decision-making, it’s advisable to consult with a financial advisor to assess the suitability of such a policy based on individual circumstances and long-term financial goals.