Oct 28, 2021
11:33:12am
11:33:12am
Another thing they do is have huge life insurance policies that cover the loans
as well. The proceeds from the whole life cash policies covers the expense of the interest on the loans and everything is stepped up upon death. No out of pocket expenses except the initial cost of the life insurance.
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- TXSmith
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- Nat Gas Man
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- Apr 28, 2010
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10/28/21 10:46am
10/28/21 10:50am
10/28/21 10:53am
10/28/21 10:55am
10/28/21 10:58am
This is incorrect man. They can wait until they pass away, get a step in basis on their assets, and have all that growth
10/28/21 11:11am
10/28/21 11:56am
10/28/21 10:46am
They can let the debt run up forever and then have it paid for with assets that have stepped up in basis at their death.
10/28/21 10:39am
10/28/21 1:05pm
10/28/21 10:53am
10/28/21 10:55am
10/28/21 10:57am