CRM

Estate Snapshot

Identity

Assets

Gross$11,800,000
Probate$4,500,000
Non-probate$7,300,000

Beneficiaries

Insurance & Planning

Beneficiary Flow

Primary Home$1,400,000401(k)$2,100,000Brokerage$1,800,000Business Interest$4,500,000Term Life$2,000,000Probate / WillBeneficiary DesignationJoint TenancyTrustILITSpouse$5,900,000Child 1$2,950,000Child 2$2,950,000

Estate Tax Waterfall

Gross Estate$11,800,000
− Marital Deduction & Charitable$11,100,000
− Federal Exemption ($13,990,000)$0
× 40% Federal Tax$0
✓ Estate has sufficient liquidity
Federal Tax
$0
State Tax
$0
Total Estate Tax
$0

With vs. Without Life Insurance

WITHOUT additional coverage
Estate tax: $0
Liquid available: $3,800,000
Net to heirs: $11,800,000
Heirs receive: 100% of estate
WITH proposed $3,000,000 coverage
Death benefit covers tax: ✓
Net to heirs: $11,800,000
+$0

Estate Growth Projection

Trust Strategy Quick Guide

ILIT (Irrevocable Life Insurance Trust)
Reduce estate taxes
Owns life insurance, keeping death benefit out of taxable estate.
Revocable Living Trust
Avoid probate
Assets pass directly to beneficiaries without probate.
Credit Shelter Trust
Maximize exemptions
Preserves both spouses' federal exemption.
SLAT
Use exemption now
Spousal Lifetime Access Trust, locks in current exemption.
CRT
Charitable goals
Charitable Remainder Trust provides income + tax deduction.
FLP
Business succession
Family Limited Partnership for valuation discounts.