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In Reply to: Re: Re: Re: Re: insights wanted posted by Natalie on December 19, 2003 at 13:12:52:
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I THOUGHT I ASK YOU SEVERAL QUESTIONS THAT YOU HAVE NOT ANSWERED.
WHO IS THE TRUSTEE??
DOES THE OLD MAN HAVE A SPOUSE?
WHAT IS THE CASH VALUE OF THE POLICY IN TRUST?
WHY DOES HE STILL HAVE AN INSURANCE POLICY THAT WILL BE INCLUDED IN HIS TAXABLE ESTATE?
HE PROBABLY SHOULD CASH IN THE OLD LIFE POLICY AS THE NAR IS PROBABLY NIL.
Why do you think it is a BS story? His other policies were purchased probably 50 years ago and had a cash value - total - of less than $100,000. His net worth also included his home. After you take out the cash value of his existing insurance, his home, and the $330,000 from his net worth - there is not enough left to provide adequate income.