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Planning with Life Insurance

  • Who should own life insurance?
  • Do the beneficiaries of life insurance pay estate and inheritance taxes?

Life insurance can be an excellent estate planning tool — in the appropriate circumstances.

If you have questions or concerns about life insurance for yourself or a loved one, please contact the law offices of Feeney & Kuwamura, P.A., in Silver Spring, Maryland.

Our knowledgeable estate planning attorneys can help you to consider your life insurance options in the context of your estate planning situation. The need for life insurance, like other instruments of estate planning, is not the same for everyone.

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Common misconceptions about life insurance concern taxes. Many people think the proceeds of a life insurance policy are nontaxable. That is true for income tax purposes, but life insurance is not exempt from state and federal estate taxes.

At Feeney & Kuwamura, P.A., our lawyers know how to find ways of effectively removing the value of life insurance from the estate of the insured. The use of trusts, such as an irrevocable life insurance trust, is one such method.

As part of our law firm's comprehensive approach to estate planning, we assist clients with a variety of life insurance planning and related matters, including:

Protecting Your Assets, Planning for the Future

To find out how we can help you to protect your financial assets and plan for the future, please contact Feeney & Kuwamura, P.A. in Silver Spring by phone or email.

Our law firm offers legal services to individuals and families throughout Montgomery County, Maryland, and the Washington, D.C., Metropolitan Area.