| CHAD LUEKEN AGENCY of Southern Indiana • 142 W. 3rd Street • Jasper, IN, 47546 • Toll Free: 1 (866) 311-KOFC (5632) • |
| BrotherKnight.com |
| BrotherKnight.com |
| DuaLife Together you've made a great team - and you've built something worth carrying on...But, as they say, no one lives forever. What will happen when you're both gone? For your heirs, your passing is apt to be a time of grieving, loss...and estate headaches. Federal estate-tax rates range from 37 to 55 percent on estates that exceed the IRS unified credit exclusion. Administrative costs (probate,etc.) are additional. Is that how you want to be remembered? Now, there’s a way for you to help your heirs meet estate-settlement costs...without subtracting from the total value of your estate...with DuaLife. DuaLife is a second to die, or survivorship, life insurance program that’s being offered for the first time by the Knights of Columbus. With DuaLife, a single plan covers two people — but the death benefit is paid only upon the death of the surviving second person. This feature makes DuaLife ideal for family estate planning. DuaLife can also provide valuable insurance protection for business executives...owners of small businesses... farmers…dual-income professionals...or any couple or partnership for whom the passing on of valuable assets is of prime importance. Truthfully, no matter what you do for a living, you want your successors to be financially secure. DuaLife can help you provide that security. DuaLife costs less than two individual life insurance policies. What’s more, a DuaLife plan can consist of permanent, or whole-life, insurance; or a combination of term and permanent insurance — giving you even greater flexibility and more control over your premium outlay. |
| CHAD LUEKEN AGENCY of Southern Indiana • 142 W. 3rd Street • Jasper, IN, 47546 • Toll Free: 1 (866) 311-KOFC (5632) • • Local 812-481-9200 • FAX: 812-481-1500 • Email: chad.lueken@kofc.org |
| Some Notes About CHARITABLE GIFTS You’ve managed to accumulate a sizable estate. Your children are all financially secure and don’t need your money. You see a lot of worthwhile things around you that would benefit from a large financial gift, such as... • A local soup kitchen • Shelters for battered women and children • A hospice for the terminally ill • A crisis pregnancy center • Your college The list could go on and on and on…and you probably don’t have the financial means to endow all the charitable institutions that you’d like to. But you can make a larger bequest if you protect your (and your spouse’s) assets through life insurance. With DuaLife you’re able to pass on your inheritance and make a charitable bequest. DuaLife also lets you preserve your estate assets at a cost savings: Plan premiums are lower for DuaLife than they are for two comparable individual policies. You can save even more by naming your chosen charity as the owner and beneficiary. By doing so, your premium outlays become tax deductions. |
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you plan for what happens after the death of the second spouse. In the U.S., over one half of an estate’s value can go just to pay the taxes and the administrative costs of estate settlement! * Currently, a $2 million tax exemption (for tax years 2006 — 2008) is provided for each married person. (Under the 2001 tax law, this exemption will be raised, reaching an unlimited maximum in 2010. The exemption reverts back to $1 million beginning in 2011.) * Estate taxes must be paid on everything over that amount — and the tax rate goes up in proportion to the size of the estate. IRS tables exist that can give the exact rate to be applied to an estate. * Your home, any vacation property, business property, car, etc., may all be included in the value of your estate. While the laws differ from state to state, your heirs may also encounter some costs on the state level... unless you plan diligently! As the old saying goes, death and taxes are life’s only certainties. But none of us knows just when we will die. Would your heirs have the resources to pay the taxes owed if you were to die earlier than you or anyone else expect? Or would they he forced to sell off part of your estate at a ‘distress” price? With DuaLife, you can remove the uncertainty. Your K of C insurance agent can provide you with estate-planning information as well as some illustrations of what a DuaLife plan would cost you. He can also work with your attorney, accountant, or other financial advisor, to ensure that your life insurance program meets your particular needs. Some important points of concern to BUSINESS OWNERS A mom-and-pop grocery…a small factory…a family restaurant…a growing high-tech enterprise…No matter what kind of business you’re in or how large or small it is, you’ve put a lot of hard work into making it succeed. You need to ask yourself a difficult question: “What will happen to my business after my spouse, or business partner, and I are gone?” Failure to sufficiently address that question is one reason why just 40 percent of all small and family businesses outlive their founder. Fifteen percent survive to the third generation, and only 1 percent survive into the fourth. DuaLife — a second-to-die life insurance plan from the Knights of Columbus — can help ensure that your business continues to thrive and grow. The following are a few common scenarios in which a DuaLife plan would be a valuable business asset: * Would your business be able to endure the deaths of both of you? The death of the second key person can result in both operational and financial difficulties — especially if that second person dies soon after the first. * Your successors must be able to continue to invest in property and equipment — and they’ll need cash on hand to do that. DuaLife can help you provide them with the necessary funds. * If you’ve been grooming one of your children to take over the business, will he or she have the financial resources to buy the rest of your children out? Or will they bicker over who gets what — to the detriment of the business? Some points of concern to FARM FAMILIES Take a weekend drive through any part of rural America, and you’re apt to come upon a farm auction. An average farm today is valued at $450,000, and farmers must cope with rising costs and shrinking profits. When a farm couple dies, their children often must pay huge debts in addition to any estate taxes. So, what has been in the family for generations goes on the auction block. Consider that... * A single life insurance policy can provide valuable protection to your spouse and your heirs — but the benefits only go so far. When included as part of a total estate plan DuaLife can protect against the economic impact of the second spouse’s death. * Do you want to pass on the farm to your children? If so, which child or children would you leave it to? A DuaLife plan from the K of C, naming a certain one of your children as beneficiaries, is one way to ensure they’ll have adequate resources to keep the farm going. * Even if your heirs are able to keep the land, will they have enough cash to ensure its continued productivity? Through DuaLife, you can ensure they’ll have sufficient funds to make investment in equipment. Your local K of C field agent is a member of a council in your area, and is a resource you can trust. He will be glad to show you some sample cost illustrations — just give him a call. |