According to a new study from LIMRA and Life Happens, two nonprofit industry trade associations, a record-high number of American adults — approximately 102 million — either do not have life insurance or do not have enough coverage.
One of the main reasons our clients get involved in estate planning is to provide loved ones with protection from claims of future creditors, and “predators” such as divorcing spouses or lawsuits. If you leave your property to your child as an outright distribution, the property will not be protected from these things, but by…