Lincoln Life Guarantee SM UL in the Family Trust

Tue, Nov 3, 2009

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A commonly used estate planning technique for married couples is a Family Trust. Family trusts, also known as credit shelter trusts, generally are funded with the maximum amount that may be excluded from federal estate taxes.

These trusts, funded at the death of the first spouse, can pay a discretionary income to the surviving spouse for life, with the proceeds passing to the beneficiaries (typically children) at the second spouse’s death.

Sometimes this is more income than the surviving spouse needs. Purchasing life insurance on the surviving spouse inside an existing family trust can help increase the size of the legacy for heirs. 

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This post was written by:

bobpadgett@padgettins.com - who has written 9 posts on Bob's Blog.

Hi, my name is Robert K. Padgett, Sr. I'm a 43 year veteran of the insurance business. My career includes terms on the Broker Advisory Boards of Blue Cross of California and Transamerica, featured speaker before the annual meeting of the National Association of Prepaid Dental Plans and broker for two Fortune 500 companies. I also owned a Transamerica General Agency for 35 years. My insurance agency now, Padgett, with branches located in Arizona and Nevada, has raised over one million dollars for charitable causes, including the Boys & Girls Clubs, Big Brothers/Big Sisters, American Lung Association and Kids at Hope. My wife Carol and I just celebrated our 45th wedding anniversary in June. We have 3 children and 6 grandchildren to keep us on our toes! Thanks for visiting my blog. Enjoy and feel free to send me an email anytime, or visit my website at www.padgettins.com to learn more about our insurance plans, and to even hear some great stories about my time in this wonderful industry!

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