Decreasing Term Insurance Best Term Life Insurance Quotes Ownership?

Best Term Life Insurance Quotes Ownership? - decreasing term insurance

My wife and I are in our 40 and 50 years. We have A / B and confidence in our ability to transfer to them, and look forward to the companies that receive tax benefits in the capital of these trusts allow.

Recently we have acquired, both $ 1 million life insurance be extended beyond 10 years, 10 years long that we maintain hope. We have to trust us not to replace the policy of using life insurance for lost income of the deceased spouse when one of us dies rather quickly do not increase our end products and trusts are a little expensive. We all rely on our own special receivers, because we the sale of goods in the u0026lt \\; users for money is to be given. The committee hopes to provide income and, in principle, if necessary, be paid to the spouse and the rest to our dead children to the other spouse.

The question of ownership of policy is less clear. My lawyer said he does not make much difference who owns it, because the value (of goods) only taxed annual premium, not $ 1M. My accountsAs has been said that the $ 1M will be taxed, and that any policy must be avoided by the other spouse rather than the taxes on that amount. A friend has told me there is no way to avoid or significantly to reduce the tax, then leave the property just that (each spouse has his own policies). A fly in the ointment is that even the insurance company (Massachusetts SBLI) certain forms of trust property makes it difficult and costly.

I'm confused. Which property is the best? What is the advantage of this choice?