If you became totally disabled, what’s your plan?

What would be the financial impact on your business, your family, if you became disabled due to illness or accident and could not work?

Most business people insure their cars, homes and lives. We all have people and stuff to protect. But what about one of your most important assets – your ability to earn income? The one thing that makes all other things in your life possible is your income. I would bet you’d agree that it’s an asset worth protecting.

One of the most common estate tax planning strategies is an Irrevocable Life Insurance Trust (ILIT). An ILIT is easy to understand and relatively easy to implement. In many situations it negates the need to incorporate other wealth transfer or estate tax reduction techniques.