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Wills, probate and trusts

Meet Sam and Jill. They own income-generating real estate and want to limit the tax burden for their children.

Sam and Jill used most of their combined $22.8 million lifetime exemption. Their financial professional informs them that selling assets to an irrevocable grantor trust is one of the most efficient wealth transfer techniques. That way the proceeds will not be included in their estate, lessening the estate tax burden for heirs.

The couple establishes an irrevocable grantor trust and sells a portion of their rental properties to the trust. The trust purchases a survivorship protection VUL policy on their lives, and when they pass, their children will receive the death benefit free of income and estate taxes.


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Make sure your client’s wishes are met by keeping their will, beneficiary designations and estate strategy current.

  • Do you know what should be in a will? Don’t forget about digital assets!
  • Do you know what is included in the probate estate? And how long it can take?
  • Have you thought about the value of having a trust? 
      

Show your clients how an irrevocable life insurance trust can work

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It’s critical to check life insurance beneficiary designations because these take precedence over a will.* 

*the balance, “ Why Beneficiary Designations Override Your Will ,” March 12, 2019. 

Insurance products issued by: The Lincoln National Life Insurance Company Lincoln Life & Annuity Company of New York 

Issuers: 
The Lincoln National Life Insurance Company, Fort Wayne, IN 
Lincoln Life & Annuity Company of New York, Syracuse, NY 

The Lincoln National Life Insurance Company does not solicit business in the state of New York, nor is it authorized to do so. 

All guarantees and benefits of the insurance policy are subject to the claims-paying ability of the issuing insurance company. They are not backed by the broker-dealer and/or insurance agency selling the policy, or any affiliates of those entities other than the issuing company affiliates, and none makes any representations or guarantees regarding the claims-paying ability of the issuer. 

Products, riders and features are subject to state availability. The insurance policy and riders have limitations, exclusions, and/or reductions. Check state availability.  

Distributor: Lincoln Financial Distributors, Inc., a broker-dealer 

Policies:  

Lincoln WealthAccumulate® IUL (2019), policy form ICC18UL6083/UL6083 and state variations. Not available in NY.  

Lincoln WealthPreserve® IUL (2017), policy form ICC17UL6082/UL6082 and state variations, UL6082 in NY. 

Lincoln AssetEdge® VUL (2015) policy form LN683 and state variations; LN683 in NY.  

Lincoln VULONE (2019) policy form LN696/LR668 and state variations. Not available in NY.  

Lincoln SVULONE (2016) policy form LN667/LR667 and state variations. Not available in NY. 

Variable products: Policy values will fluctuate and are subject to market risk and to possible loss of principal. 

Variable products are sold by prospectuses, which contain the investment objectives, risks, and charges and expenses of the variable product and its underlying investment options. Read carefully before investing. 

Only registered representatives can sell variable products. 

For agent or broker use only. Not for use with the public