Many people purchase life insurance policies, which means that estate planning attorneys must understand the rules regarding taxation of life insurance. Retention of certain powers or certain transactions could cause negative income, gift, or estate tax consequences.

If you’d like more education on the subject, we dug up on article by our friend Tereina that gives a great overview; you can find it at this link.

Alternatively, if you’d like to read more from us here at the Slaton Schauer Law Firm, PLLC, please feel free to browse our articles on choosing an attorney who is a good fit for you, common scams which target the elderly, or the importance of estate planning.