Finally some clarity about life insurance and its crucial role

Posted on November 23, 2010 by Bill Faiferlick

Life insurance and asset protection are often different sides of the same coin. Life insurance can provide asset protection and asset protection sometimes requires life insurance. There is an extensive amount of misinformation about life insurance, its applications, its benefits, and its unique tax advantages. Today’s show will clear up many of the misconceptions about life insurance. Bill Faiferlick and his guest, Pat Felix a tax and estate attorney, will look at how life insurance relates to asset protection and other important asset protection strategies. People should be aware of because of increasing litigation which can completely wipe out someone’s hard earned nest eggs. There are other tools business owners and professionals have at their disposal that will be discussed as well as the importance of offshore opportunities in this current legislative environment.

Patrick J. Felix, Tax and Estate Planning Attorney, US

Mr. Felix practices estate planning through the law firm of Patrick J. Felix III, P.C. in Florida, Pennsylvania, Ohio and West Virginia and through Patenaude & Felix, APC in San Diego, California. Mr. Felix earned his J.D. in 1984 from the Duquesne University Law School in Pittsburgh, Pennsylvania and his LL.M. in 1986 (masters in taxation) from the Georgetown University Law Center. For 25 years, Mr. Felix has practiced tax and advanced estate planning specializing in living trusts, irrevocable life insurance/gifting trusts, dynasty/ generation-skipping trusts, family limited partnerships, charitable giving, the integration of retirement benefits into an estate plan and the utilization of domestic and international life insurance for advanced estate planning. Mr. Felix has hosted his own radio show and has also authored numerous articles and was a contributing author to The Life Insurance Answer Book.