Estate Preservation
The Estate Preservation module estimates a client’s potential federal estate tax liability (on a household basis) and proposes some simple, well-accepted alternatives to reduce such tax consequences. Two calculation ‘modes’ are available: ‘Native Mode’ (illustrating simple asset growth over time), and ‘At Retirement Mode’ (illustrating income/expense inflows and outflows as well as asset growth and distributions over time).
Module Target User – Advisors helping clients with estate and life insurance issues
Completion Time – 5 to 20 minutes (Native Mode), 30 to 60 minutes (At Retirement Mode)
This module:
- Performs complete settlement cost calculations (funeral/final costs, probate costs, administration expenses, and liabilities payable at death)
- Calculates Federal estate tax based on 4 different tax regimes (As legislated, Freeze 2012 laws, $3.5 million exemption, and Permanent repeal)
- Provides on-board estate-planning tools (educational material and calculations) include inter vivos gifting, ILITs, and CSTs
- Compares various estate tax funding options (cash, borrowed funds, asset liquidation, and life insurance)