Life Insurance
Do you have enough life insurance?
Life insurance is one key asset that passes directly to your beneficiaries generally income tax-free, without the costly delays of probate. The death benefit your family receives can help pay expenses when they need it most, so they're not forced to liquidate other resources quickly to meet expenses, pay estate taxes or fund longer term goals.
Should you consider trusts?
Trusts are not just for the wealthy. They can be extremely useful to anyone who wants to put conditions on how and when their assets will be distributed after their death. Trusts can also help you reduce your estate taxes and transfer assets outside of the public glare and delay of probate court. Some even provide greater protection of your assets from creditors and lawsuits. Now's the time to consult with your legal and financial professionals to see whether trusts can help you accomplish your specific goals.
The information provided is not written or intended as specific tax or legal advice and may not be relied on for purposes of avoiding any Federal tax penalties. MassMutual, its employees and representatives are not authorized to give tax or legal advice. Individuals are encouraged to seek advice from their own tax or legal counsel.