How the Ultra-Wealthy Preserve Their Legacy And What We Can Learn From Them

At FinFit Life, we believe building wealth is only half the story - protecting it is just as important. In a recent Rethinking65 article, Howard Sharfman explains how high-net-worth individuals use life insurance not only for protection but as a tool for legacy planning. They preserve wealth for future generations, reduce estate taxes, and support causes important to them. This reflects FinFit Life’s commitment to helping clients secure their future while leaving a lasting legacy.

Why Life Insurance Matters

📉 Market downturns don’t wait for the right time. If a business owner passes during one, heirs could be forced to sell investments or even the family business at a loss. Life insurance, especially when held in an Irrevocable Life Insurance Trust (ILIT), provides liquidity and safeguards the future.

The ILIT Advantage

💰 Excludes life insurance from your taxable estate

📉 Reduces or eliminates estate tax burdens

🧾 Protects assets from creditors and legal risks

🏛️ Preserves your wealth for future generations

Is It Right for You?

If you’ve built a business or accumulated significant assets, tools like ILITs can help you pass on wealth more efficiently — without putting your family in a tough financial spot.

Final Thought

Legacy planning isn’t just for the ultra-wealthy — it’s for anyone who wants to be intentional about the future. At FinFit Life, we help you live well today and protect tomorrow.

👉 Read the full article by Howard Sharfman in Rethinking65 to learn how successful businessowners secure their legacy.