Insurance part 1 - disability and life insurance with Joe & Kristen Fazio
beyond MD with Dr. Yatin Chadha
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The Benefits of a Joint Last Today Policy
When you buy a joint last today policy, whether it's universal life or participating life, we ensure spouses under one contract. When spouse a passes away, nothing happens. So the policy still continues. All assets owned by spouse a move or a spouse be with with minimal if any tax consequences. Okay. Well, when spouse be passes away, two things happen. You have to file a terminal return for spouse be. Then you have to disperse the assets that are located within the corporation. They have to flow out to the family. And even a medical professional corporation will run into some tax issues. But perhaps we can talk about some of the scenarios where these policies would be useful.
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Transcript
