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 solutions below for an overview of common techniques available to help your clients. And see how an uncertain tax environment and evolving exemption can impact estate planning:
Estate planning white paper (PDF) (BB12592)
Estate tax sunset consumer presentation (PPT) (BB12683)
- Owners of small to midsize businesses
- Individual or married couples between the ages of 60 and 85
- Insurable at standard rates or better
- Concerned about maximizing legacy for heirs
Key materials listed below.
Legacy and Estate Planning Approach Brochure (BB10061)
Use this brochure to start the conversation with your clients about laying the groundwork for their family's future.
Business Owner Approach Brochure (BB11957)
Use this brochure to introduce the business owner to the capabilities of Principal and our range of solutions.
Business Priorities Checklist (BB9557)
Complete this with business owner after explaining our process for meeting their financial needs.
- Charitable Giving – Life insurance can be used as a funding vehicle by gifting a new or existing policy or by naming the charity as beneficiary of a policy.
- How it works: View overview (PDF)
- How it works: View overview (PDF)
- Inheritance Equalization – This strategy can successfully help business owners provide for the non-business heirs, while keeping the business intact for the heirs continuing the business.
- How it works: View overview (PDF) (BB9638)
- How it works: View overview (PDF) (BB9638)
- Trust Solutions – A trust can be 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. Trust services are offered by Principal Trust.
- How it works: View overview (PDF) (BB9616)
- How it works: View overview (PDF) (BB9616)
- Gifting Strategies – Lifetime gifting is a great opportunity to fund current estate plans and reduce future estate tax exposure.
- How it works: View overview (PDF)
- 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.
For more information about each of these solutions, see left navigation.
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