Using Life Insurance in Business Planning Strategies

You can give your clients tremendous value by guiding them with their life insurance planning, even if you’re not an insurance expert. In this episode of the PFP Section podcast, Ed Mendlowitz, CPA/PFS, interviews expert Lee Slavutin, MD, CLU to share strategies for businesses. Ed poses the following questions to Lee:

• What are the advantages of having life insurance in a qualified plan for a business owner?
• What specific rules do CPAs need to watch out for with key person insurance? 
• Share more about the ins and outs of buy sell agreements that CPAs need to consider.
• Why does split dollar provide tremendous benefits for family business succession planning?

For more resources related to this episode:

• Listen to Lee’s podcast with David Kushner outlining the tax traps to beware of with life insurance planning.
• Listen to Lee’s podcast with Ed Mendlowitz covering life insurance planning strategies for individuals. 
• Use the Adviser’s Guide to Financial & Estate Planning Volume 1 as a reference with respect to life insurance planning.
• Check out the AICPA’s Risk Management and Insurance Planning Certificate Program, that is also a step on the path towards becoming a CPA/PFS.
• Review the PFP Section life insurance policy evaluation tools which includes a checklist for a life insurance policy checkup, issues to consider when evaluating replacing a life insurance policy, and more.

This episode is brought to you by the AICPA’s Personal Financial Planning Section, the premier provider of information, tools, advocacy, and guidance for professionals who specialize in providing tax, estate, retirement, risk management and investment planning advice. Also, by the CPA/PFS credential program, which allows CPAs to demonstrate competence and confidence in providing these services to their clients. Visit us online to join our community, gain access to valuable member-only benefits or learn about our PFP certificate program.

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