You can give your clients tremendous value by guiding them with their life insurance planning, even if you’re not an insurance expert. In this episode of the PFP Section podcast, Ed Mendlowitz, CPA/PFS, interviews expert Lee Slavutin, MD, CLU to share strategies to consider for your individual clients. Ed poses the following questions to Lee:

• What strategies would you recommend to make use of the lifetime exemption before the sunset at the end of 2025?
• Why is doing an insurance audit a great service to provide for your clients at all wealth levels?
• What are the benefits of a life insurance trust and how do crummy powers play into this?
• When are split dollar policies allowed, why use them, and who do they benefit?
• What are some ways to meet charitable goals through life insurance planning?

For more resources related to this episode:

• Listen to Lee’s podcast with David Kushner outlining the tax traps to beware of with life insurance planning.
• Use the Adviser’s Guide to Financial & Estate Planning Volume 1 as a reference with respect to life insurance planning.
• Check out the AICPA’s Risk Management and Insurance Planning Certificate Program, that is also a step on the path towards becoming a CPA/PFS.

This episode is brought to you by the AICPA’s Personal Financial Planning Section, the premier provider of information, tools, advocacy, and guidance for professionals who specialize in providing tax, estate, retirement, risk management and investment planning advice. Also, by the CPA/PFS credential program, which allows CPAs to demonstrate competence and confidence in providing these services to their clients. Visit us online to join our community, gain access to valuable member-only benefits or learn about our PFP certificate program.

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