Estate Planning and Estate Taxes

[Steven Nguyen]

With the current TCJA the estate tax exemption is 11.18 million (single) and 22.26 million (married).  Any estate in excess of these thresholds are taxed at 40% in CA.  For example, if you are worth 20 million as a single person and pass away, the beneficiaries will pay 3.6 million in estate tax to the IRS within 9 months.  I know with real estate, it's easy to build an estate above 11 million or the government may lower the estate tax exemption to around 5 million (single).  What are you doing to plan for estate taxes?  I started an indexed universal life insurance policy that is max funded to be utilized as tax free income, disability insurance, infinite banking, and provide a lump sum death benefit to help pay off estate taxes for my future kids.

Thanks for any insight!