Retain Your Life Insurance Policy

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Many consumers purchase life insurance policies to provide the necessary liquidity to pay for any estate taxes imposed on their death, or to provide sufficient liquidity for the needs of their heirs. Since the federal estate tax exemption is several million dollars, many people are questioning whether they should reduce the amount of life insurance they presently hold.

Before you reduce the amount of your life insurance coverage, here are some considerations to think about.

Click to view or print: Retain Your Life Insurance Policy | pdf

Categories: Life Insurance

Catherine R. Mack

I am an estate planning and estate litigation attorney who has been practicing law for many years. Based in Bethesda, Maryland, I work with clients in Montgomery County and throughout Maryland, the District of Columbia, and Virginia. My practice focus is 1) estate planning (wills, trusts and ancillary documents), 2) probate (the publication and effectuation of a Will through the local court) and 3… Read More

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By Ilyce Glink and Samuel J. Tamkin Feb. 19, 2020 at 6:00 a.m. EST Q: I just read your column giving suggestions to an elderly mother who wanted to make sure her daughter received her home at death without probate. I’m a retired attorney, and I don’t know how many times I was asked the same question by clients over the years. There’s one thing that you didn’… Read More

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