A few years ago I was introduced to a wealthy real estate family with an extensive property portfolio assembled over 2 generations.

Lots of real estate, no estate planning - and not surprised.

Getting them properly organized in the most tax and cost-efficient way would be a complex and time-consuming and something we love to help clients with.

Anticipating a lengthy planning process, we recommended that each family member apply for $10 Million of Term Life Insurance right away.

Once issued, that Term Insurance could be quickly converted, partially or fully, into permanent policies - without any medical underwriting or the need to re-qualify.

Note: All Term Insurance offers this option.

(Can you guess what happened next?)

Lightning struck twice when two members became uninsurable and no longer qualified for the Life Insurance they needed.

No one can predict the future, but we can take steps to keep options open.

After 30 years of professional practice, my recommendation is this: DO NOT WAIT for the estate planning to be finished, which often take years in complex situations.

Get Term Life Insurance in place right away.

At best you find out that your client can qualify, or at worst, not.

Term Insurance is an inexpensive and guaranteed "hedge" while the planning process continues and can always be dialed down, converted or not proceeded with, and it provides the best approach in a complex tax environment.

Hindsight is always 20/20 ????

Hope this can help you and your clients. Please share with your networks.