What is the role of life insurance in real estate planning?
The role of life insurance in real estate planning is relatively significant due to the benefits that can be derived from the application of life insurance against the estate or other specified recipients of the insurance plan. Therefore, the role of life insurance in real estate planning is the provision of immediate liquidity, which can be used on identified needs in the death of the owner of the insurance plan, which includes the provisions of the needs of all recipients. Life insurance in real estate planning can also be used to ensure any material assets that remained deceased.
One of the use of life insurance in real estate planning is to provide funds that can be used to care for any free targets, including the funeral of the deceased and the provision of finances for live dependent persons who would lose any potential wages that the holder of the life of insanes would bring home over the years. The obvious advantage is realst, providing dependent security in terms of finances and greater confidence in the future, because they know that any outstanding debts that have not been taken care of before the insurance holder will be observed life insurance. For example, if the person had outstanding real estate taxes and the heirs lack the funds to settle such a debt, the funds derived from life insurance could serve as a means of settling this debt. In this type of situation, it is important to realize that immediate access to cash will eliminate the need for heirs of the deceased to sell part of the estate or any other inheritance in another to raise the money needed to settle the outstanding debt.
6oncern deceased. For example, consider a scenario where three business partners form a company from scratch and build it into a successful organization. Assuming two of them get into a private plane of the company on the way to the trade road and to the aircraft crash, the heirs of one of the deceased willCH have a financial, where the interest of the other should buy if the heirs decide to sell their part of the business.