Chuck Meiers was nestled in his bed when the call came. “Is this Charles Meiers? The owner of the building at Morgan and Main, CM Towers? I believe your business, CM Law, is the sole tenant there?” “Yes?” “Sir, this is the San Valdeos Fire Department. We responded to a fire alarm at your building. There is a lot of black smoke coming out of your roof. It appears your building is on fire.”
Barry Donovan died a happy man. Not only was he joining his late wife, Sarah, in the great beyond, he was also confident his assets would be fairly distributed in accordance with his will. Several days after he had been laid to rest, Barry’s five children—James, John, Sarah, Sally, and Iris—and his surviving siblings—Joseph, Sally, and Sarah—gathered for the reading…
The proceeds of a life insurance policy are included in the insured’s taxable estate at death. If the decedent’s taxable estate exceeds the federal estate exemption (currently $5.45 million), estate tax is due. For some, ownership of a large life insurance policy may trigger estate tax liability at death. An irrevocable life insurance trust can be a useful estate…