Michael J Porro & Company

Financial Advisors, LLC

180 Old Tappan Road, Old Tappan, NJ 07675-7052

Phone: 201-768-0218

Fax: 201-768-6487

Website: porrofinancialadvisors.com

May/June 2018

It's About Life

You probably know that life insurance provides financial protection for loved ones. But did you know that life insurance can also play a role in simple or complex estates?

A Simple Legacy

In its purest form, life insurance protects your beneficiaries financially when you die. With life insurance, you needn’t own a multi-million-dollar estate to leave your family a financial legacy. While many retirees reduce the amount of life insurance they own, others keep some coverage to leave to loved ones. Remember, life insurance benefits to individual beneficiaries are exempt from federal income tax, too.
Estate Tool

Life insurance also provides a way to fund various stipulations in an estate strategy, whether they
are for minor children or a special-needs relative. If you use an irrevocable life insurance trust, you won’t
owe estate taxes on the trust’s assets, either, since the trust owns the estate. Talk to your financial professional to
learn more.


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Michael J Porro & Company and LTM Client Marketing, Inc. are unrelated companies. This publication was prepared for the publication’s provider by LTM Client Marketing, an unrelated third party. Articles are not written or produced by the named representative.

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