Russ Prince: Life Insurance As An Estate Tax Buffer

Death and taxes are certainties for everyone, including people worth $500 million or more, whose estates are subject to significant taxation when they pass away. While they make extensive and adroit use of various wealth planning strategies and structures to mitigate estate taxes, most opportunities are underutilized.

“Even though family offices have proven capable of helping billionaire clients tackle nearly any challenge that arises, you still can’t ‘take it with you.’” said Rick Flynn, managing partner at FFO and author of “Elite Wealth Planning: Lessons from the Super Rich.” “By using life insurance in estate planning, however, super-rich families can more effectively orchestrate the transfer of assets—protecting the family fortune and legacy for future generations.”

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