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Tips From the Pros: Zero Tax Trusts?

Al W. King III discusses the use of private placement life insurance trusts as a strategy to lessen the burden of President Biden’s proposed higher federal and state income and capital gains taxes.

President Biden and Congressional Democrats have recently proposed a $3.5 trillion infrastructure bill that contains nearly all of Biden’s American Families Plan proposed in April 2021, plus expanded Medicare coverage for hearing, vision and dental care.1 To pay for these programs, the President wants to raise federal income, capital gains and estate taxes in either 2021 or 2022.2 Additionally, many states and localities are increasing income taxes due to high debts and

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