Keying off ER50's thread on simplifying estates ( www.early-retirement.org/forums/f28/think-of-your-heirs-97171.html)
I am curious what the Forum thinks are the pros and cons may be. I have a vague recall that at one time your whole life policies dividends were tax free and therefore offered a cash flow benefit.
OTOH, our policies are relatively small by today's standards (5k. 10k and 20K), and the cash value is less than 1% of net worth, so liquidation seem to make
sense.
Any downsides we should consider?
I am curious what the Forum thinks are the pros and cons may be. I have a vague recall that at one time your whole life policies dividends were tax free and therefore offered a cash flow benefit.
OTOH, our policies are relatively small by today's standards (5k. 10k and 20K), and the cash value is less than 1% of net worth, so liquidation seem to make
sense.
Any downsides we should consider?