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This article raises important points — plan for the long-term and don’t let taxes direct the planning over more important goals — plus it’s a good review of the many benefits of life insurance.

But as I’ve previously noted, the estate tax was (in practical terms for all but a tiny fraction of folks) effectively repealed already in recent years, and the new carryover basis regime proposed by Trump to accompany the coup de grace he has planned for the estate tax could itself create a new tax imperative in favor of life insurance.

“Don’t let the tax tail wag the planning dog!” The key to planning is to remember that a client’s goals are paramount and taxes are a secondary consideration. So, if the tail shouldn’t wag the dog when taxes are “high,” why would should it be allowed to do so when taxes may be “low” or temporarily eliminated?

Source: Life Insurance: It Was Never Just About Taxes