Some people gift to children or grandchildren using custodial accounts set up under theUniform Transfers to Minors Act (UTMA)orUniform Gifts to Minors Act (UGMA). However, depending on a recipient's earned income and status as a student, the earnings in the account may be taxed at the donor...
You could need life insurance in retirement if you want to cover your final expenses and estate taxes, have outstanding debt, still earn income, or want to provide a tax-free inheritance to your loved ones. Otherwise, you probably do not need life insurance after retirement. What Happens to ...
Generous people who want to pass on money for legacy purposes should consider purchasing life insurance. Whether its grandparents who want to pay for their grandchildren’s education or an individual who wants to leave a sizable donation to a local hospital, life insurance can provide money to be...