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Blog
Using Life Insurance to Create an Asset for Inactive Children
From Legacy Moment eNewsletter (July 16, 2010).
Please join us for future issues, delivered via email each Friday.
Jake owns a successful agribusiness. His son Chad has been involved in the operation since college. The operation is worth $4 million, and it represents significantly all of Jake’s assets. His other son, Clayton, is not involved in the operation. 
To make an equitable distribution to both his children, Jake purchases a $2 million life insurance policy and names Clayton as beneficiary. Though this is not an equal distribution, Jake rationalizes that a $4 million operation, like any business, is risky. It is fraught with opportunities and obligations, duties and responsibilities.
Would you make a similar insurance purchase? Check out our Life Insurance Needs Analysis to help you plan for the contingencies that may affect the financial health of your business.
Would you make a similar insurance purchase? Check out our Life Insurance Needs Analysis to help you plan for the contingencies that may affect the financial health of your business.
News & Resources for You
Job Description Template: Fit the best candidate to each operational role and ensure that everyone involved is clear about responsibilities and expectations.
Weigh in about succession planning. Check out the Legacy Poll on the Legacy Project home page (upper right).
If you have decided to make succession planning a priority,we want to help you follow through on that decision.
Leading the Change – Legacy Project Workshops
Two more workshops this week: Legacy Project workshops are scheduled for Des Moines, Iowa, on July 21; and Champaign, Ill., on July 23.
Sign up online or call the Farm Journal Events Hotline to reserve a spot: (800) 909-3681.
Job Description Template: Fit the best candidate to each operational role and ensure that everyone involved is clear about responsibilities and expectations.
Weigh in about succession planning. Check out the Legacy Poll on the Legacy Project home page (upper right).
If you have decided to make succession planning a priority,we want to help you follow through on that decision.
Leading the Change – Legacy Project Workshops
Two more workshops this week: Legacy Project workshops are scheduled for Des Moines, Iowa, on July 21; and Champaign, Ill., on July 23.
Sign up online or call the Farm Journal Events Hotline to reserve a spot: (800) 909-3681.
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