Have you ever heard of a 2nd to Die Life Insurance Policy? Me neither, or rather not until I heard Dick Patten of the American Family Business Institute (NoDeathTax.org). Patten, who is the executive director of the Institute, is the guest of Chuck Harder on this episode of ?For the People?. This 2nd to Die thing is a policy some family business member take out (at a huge premium) to protect themselves when the head of the family business dies and the family is faced with having to pay 40% of the value to the Feds because of the Death Tax. Patten also wants people to know that there is still time to persuade the fence sitters in the Senate to repeal this Death Tax. The vote will be in the first or second week of June, he says, and if people would call and leave a message for their Senator(s) that it might be the means to bring this tax to a close. Click here to listen to this podcast and to find out if some of those fence sitters are from your state.
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