Legacy & Estate Planning
Legacy and estate planning tactics are important for married and single individuals to have when they are planning for the distribution of their assets. By preparing for and having the appropriate solutions in place, this can help minimize the impact of taxes and expenses while maximizing distributions to heirs, third parties or charities.
Preservation techniques involve both estate and business planning. Numerous effective techniques are available to help you successfully transfer your clients' wealth.
Get started by reviewing the legacy and estate planning planning solutions below for an overview of common techniques available to help your clients.
You may also find value in the Web Estate Guide, an online resource for details about estate planning.
- Owners of small- to medium-sized businesses
- Individual or married couples between the ages of 60 and 85
- Insurable at standard rates or better
- Concerned about maximizing legacy for heirs
- Inheritance Equalization – This strategy can successfully help owners of closely held businesses and farms and ranches provide for the non-business heirs, while keeping the business intact for the heirs continuing the business.
- How it works: View overview (BB9638C)
- Trust Solutions- A trust used to remove the ownership and control of a life insurance policy from an estate. Life insurance can be used to fund estate taxes and final expenses upon the death of an individual.
- How it works: View overview (BB9616)
- Gifting Strategies – ATRA 2012 offers an opportunity to complete the funding of current estate plans using these lifetime gifts.
- Private Split Dollar - Typically an agreement between an individual and an irrevocable life insurance trust, designed to provide estate tax protection while minimizing the value of gifts to fund the trust.
- How it works: View overview (BB9621)
For more information about each of these solutions, see left navigation.
Before the Sale
2017 Estate Planning Guide
Educate clients about the estate planning process in this easy online format. The guide is divided into eight modules and features convenient links to supplementary material throughout, too.
Estate Tax Calculator (BB10045)
Estimate your clients’ tax liabilities.
After complete, you will get sample outputs:
During the Sale
Financial and Estate Planning Documentation Workbook (BB6808)
Planning guide for storing vital financial information as well as documenting key personal wishes to preserve one's legacy.
View (PDF) • Order
Estate Planning Questionnaire (BB6794)
Gather detailed information about your clients’ assets and liabilities, distribution goals and survivor needs.
View (PDF) • Order
Estate Tax Analysis (ETA) Software | Sample Proposal (BB10906)
Use this software to demonstrate the impact of estate taxes to the estate, and the benefits of implementing an effective estate planning strategy. See the sample proposal that is generated from the output.
View Sample Proposal (PDF)
After the Sale
Access a variety of sample agreement templates to share with clients.
View Sample Agreements
Key materials listed below. Additional materials available.
Advanced Markets Information
Technical material for applied knowledge on a specific topic.
View Advanced Markets Information
View our Life Insurance Products.
ILIT Financing Strategies Comparison (Survivorship) (BB11630)
Compares the features of six financing strategies for survivorship life insurance owned by an irrevocable life insurance trust.
Premium Finance Rules (BB11522)
Provides guidelines for premium financed cases using Principal life insurance products.
The subject matter in this communication is provided with the understanding that The Principal® is not rendering legal, accounting, or tax advice. A client should consult with appropriate counsel or other advisors on all matters pertaining to legal, tax, or accounting obligations and requirements.