Despite the well planned legal mechanism available, at some point wealthy estates may have to pay an estate tax. While this could take out a sizable portion of an estate, financial planners working along side insurers are offering wealthy clients the option to buy "succession" insurance to cover the expense of the estate tax. However, there are still concerns as to price and whether the estate tax will even exists.
See Deirdre Wheatley-Liss, "Cheap Dollars to Replace Estate Taxes? Survivorship Term Insurance," njelderlawestateplanning.com (Oct. 10, 2011).
h/t Gerry W. Beyer, "Second-to-Die Life Insurance," Wills, Trust & Estates Prof Blog (Nov. 17, 2011).
Posted by Shahzeb Gaziani, Senior Associate Editor, Wealth Strategies Journal.
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