Aboutleboyd Expertise I can answer questions relating to life insurance, estate planning, business succession/continuity planning and tax-effecient retirement planning. I have advised clients for many years on these areas, and how they relate to life insurance.
Likewise, I have worked with many on Long-Term Care needs.
Experience I have been a top producer for the past 5 years. Prior to that I was the CEO of an international company, having the concerns from a clients perspective (now having been a client of NYL for more than 15 years)
Organizations Society of Financial Services Professional
Million Dollar Round Table
Education/Credentials In addition to an BBA and an MBA from a top-10 school. I have earned the LUTCF, NASD Series 6, 7, 63 and 66 licenses.
Awards and Honors Top Life Producer
Top Long-Term Care Producer
Expert: leboyd Date: 6/11/2008 Subject: transfer for value?
Question how can i get the cash value from 2 existing second to die policies into a new second to die policy, which is owned by a new ILIT, without transfer for value or loss of tax exclusion ramifications?
Answer Brian,
That's a deep question. It depends on your state and how they handle ILITs, as well as the differences between the ILITs. A Board Certified Estate Tax attorney is your best bet to answer that question. The IRS has worked very hard to close the loop holes on the transfer for value, and if you don't do everything just right you can lose valuable options.
