Insurance part 1 - disability and life insurance with Joe & Kristen Fazio
beyond MD with Dr. Yatin Chadha
00:00
The Tax Efficient Way to Transfer Money to the Next Generation
There's so few ways of transferring funds from this generation to the next. Life insurance is next in line, and so it allows you to move money tax efficiently to your kids. I've seen situations where it's like three and a half times the value if you had left that money just to not end the normal avenues within the corporation investment pool. So with that in mind, transferring some of the next generation may not be a bad idea. The next question is probably more relevant to professionals later on in their careers. Is it reasonable to consider dropping some of these products? And maybe there are other financial issues which we don't really have time to tackle today.
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