Warren Averett CPAs and Advisors’ Heather Locklar, J.D., an Estate Planner and Member of the firm’s Tax Division in our Birmingham accounting and advisory office, was recently featured in MoneyGeek’s Navigating Life Insurance for Estate Planning guide.
MoneyGeek’s guide discusses how life insurance can help pay for the estate taxes of a deceased family member and the benefits and strategies that can be implemented to maximize these advantages.
In her section of the guide, Locklar discussed why life insurance is an important component to estate planning, the best type of life insurance for estate planning and the right time to use an irrevocable life insurance trust.
When it comes to why life insurance is so important to estate planning, Locklar says: “When many people think of estate planning, they think it means having a will, but it is far more involved than that. Thoughtful planning takes into consideration the moral and financial legacy an individual wants to leave his or her family, which is why life insurance is such an important component.”
Locklar also believes that individuals who are searching for life insurance should first know the reason for why they need it. She says that it’s important to talk to an advisor or insurance agent and discuss objectives for the insurance and the end goal.
Locklar’s practice at Warren Averett focuses on tailoring the estate planning process to help families and individuals reach their legacy goals. She also advises on effective business succession planning techniques for small business owners. She resides in Birmingham with her husband and daughter.
Warren Averett’s Estate Planning services can help with all of your estate planning needs. They can help you identify and clarify your estate goals, implement and monitor your estate plan and beyond. Learn more about Warren Averett’s Estate Planning services, read the full MoneyGeek guide to Navigating Life Insurance for Estate Planning or learn more about our Birmingham CPAs and Advisors.