The Complete Cardinal Guide
TO PLANNING FOR AND LIVING IN
THE CARDINAL GUIDE TO:
Strategizing Life Insurance & Estate Planning
￭ Calculate the amount of money your survivors need to receive quickly after you pass away. Consider purchasing life insurance. If you don’t want to pay ongoing premiums, consider single- premium whole life insurance.
￭ Update all of your beneficiary designations. Beneficiary designations trump the will and go straight to the beneficiary.
￭ You need at least four legal documents prepared by an attorney knowledgeable about elder law: a will, a health-care power of attorney, a financial power of attorney, and a HIPAA release.
￭ Federal estate taxes are no longer relevant for estates under $5.43 million, or $10.86 million for couples. The step up in basis at death for capital gains taxes is the more relevant issue for middle-class taxpayers.
￭ Want more information? A complimentary life insurance quote? Fill out the form below so we can give you some personalized options!
2530 Meridian Parkway,
Durham, NC 27713
5309 Monroe Road,
Charlotte, NC, 28205
6520 Airport Center Drive,
Greensboro, NC 27409