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An incredibly flexible estate planning tool.

Both within and outside of trusts, insurance can be a highly effective means of tax efficiently transferring your wealth and protecting your estate. As an estate planning tool, insurance can serve a host of purposes including:

  • Providing sufficient cash for estate settlement costs and taxes in order to avoid the forced sale of assets
  • Allowing you to move assets outside of your taxable estate when held in an Irrevocable Lifetime Insurance Trust
  • Serving as a means to equalize inheritances when illiquid assets like a family business are a significant part of your estate
  • Enabling you to support an important charity, while at the same time possibly reducing your estate tax obligation

Working together with our insurance and trust specialists, your SunTrust advisor can help you explore a variety of solutions to protect your wealth and maximize your legacy for future generations.

Did you know?

While IRAs, CDs and certain annuities may be efficient savings vehicles they can be inefficient methods of transferring wealth. By liquidating those assets and using the proceeds to pay premiums for a life insurance policy, you could positively impact your tax liability.

Insurance products are offered by SunTrust Investment Services, Inc.

Articles and resources that can help you on your journey.

5 Steps to Streamlining Wealth Transfer

Planning and communicating are critical to the success of wealth transfer. These five steps can help guide you as you make your plan and prepare your heirs for the eventual transfer of your estate.

Read the Full Article >

When a Will Isn’t Enough

Did you know that when it comes to your assets, such as retirement accounts and life insurance passing down to your heirs outside of probate, beneficiary designations take absolute precedence over any and all provisions made in your Will?

Read the Full Article >

DISCLAIMERS

SunTrust Bank and its affiliates and the directors, officers, employees and agents of SunTrust Bank and its affiliates (collectively, “SunTrust”) are not permitted to give legal or tax advice. While SunTrust can assist clients in the areas of estate and financial planning, only an attorney can draft legal documents, provide legal services and give legal advice. Clients of SunTrust should consult with their legal and tax advisors prior to entering into any financial transaction or estate plan. Because it cannot provide legal services or give legal advice, SunTrust’s services or advice relating to “estate planning” or “wealth transfer planning” are limited to (i) financial planning, multigenerational wealth planning, investment strategy, (ii) management of trust assets, investment management and trust administration, and (iii) working with the client’s legal and tax advisors in the implementation of an estate plan.
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