Henrique Thormann
Licensed Insurance AgentHenrique focuses on life insurance strategies and legacy planning, for retirees and younger families alike.
Read full bio →Life insurance, legacy & estate planning
Leave a legacy, not a tax bill
We help you make sure what you've built goes where you want it to, working alongside your estate attorney and tax professional.
Is this you?
If any of these sound familiar, this page is for you.
- You haven't checked your beneficiaries since you opened the account.
- You want to leave money to your kids without a big tax surprise for them.
- You worry about your spouse's income if you pass first.
- Your will or trust was written years ago and life has changed since.
- You'd like to support a charity as part of your plan.
What we look at
What a legacy planning review covers
Your beneficiary designations
Beneficiary forms often override a will. We check that every account and policy names who you want today.
How heirs inherit your IRAs
We look at how inherited IRA rules may affect your children's taxes and the timing of withdrawals.
Your surviving spouse's income
We look at what income continues, and what stops, if one of you passes first.
Existing life insurance
We review the policies you have, what they cost and whether they still fit your goals.
Your documents and your attorney
We flag gaps between your financial picture and your estate documents, so you can address them with your attorney.
Charitable goals
If giving matters to you, we look at ways it may fit into your income and tax plan.
Common cracks
Where legacy plans often fall short
Most legacy problems aren't dramatic. They're small things nobody checked, and they can cost a family time, money and peace of mind.
- Outdated beneficiaries: an ex-spouse, a parent who has passed, or a missing grandchild
- Inherited-IRA tax rules: many non-spouse heirs must empty an inherited IRA within 10 years, which may push them into higher tax brackets
- No plan for a surviving spouse: income from Social Security or a pension may drop when one spouse passes
- Documents and accounts that don't match: a will says one thing, a beneficiary form says another
Life insurance
Life insurance as a legacy and tax tool
Life insurance death benefits are generally paid to beneficiaries income-tax-free. That may make it a useful way to pass on wealth, replace income for a surviving spouse, or help heirs cover taxes on other inherited assets.
Coverage depends on underwriting, and benefits are subject to policy terms and the claims-paying ability of the issuing insurance company. Tax treatment depends on your situation, so consult your tax advisor.
Your estate attorney
We work alongside your estate attorney
LSF Capital isn't a law firm, and we don't draft wills or trusts or give legal advice. What we do is look at your financial picture and help you spot where your documents and accounts may need updating.
Then we coordinate with your estate attorney to fix and update documents. If you don't have an attorney, we can suggest that you work with one.
Charitable giving
Strategies for giving with purpose
If you want to support causes you care about, some approaches may also help with taxes. Examples include qualified charitable distributions from an IRA once you're eligible, naming a charity as a beneficiary, or using life insurance to fund a gift.
Rules and limits apply and change over time. We look at how giving fits your income plan and coordinate with your tax professional and attorney.
The tool
Book a call about life insurance and legacy options
We'll go through your beneficiaries, existing policies and goals for your family, and flag anything worth taking to your attorney. A beneficiary checklist is in the works; ask us for it when it's ready.
Book a call about life insurance and legacy options
15 minutes to start, at Trafalgar Plaza or by video. We’ll cover:
- Your beneficiary designations
- How heirs inherit your IRAs
- Your surviving spouse's income
- Existing life insurance
Who you’ll talk to
The licensed insurance agents for legacy planning
Juan Cabezas
Licensed Insurance AgentJuan is licensed in life insurance and annuities and has decades of experience helping clients put coverage in place.
Read full bio →Art Athanas, CFO, COO
Managing PartnerArt focuses on protecting retirement assets and tax efficiency, which shapes how much of your legacy reaches your family.
Read full bio →John Petrucco
Licensed Insurance AgentJohn's planning is built around protecting those you love and creating a lasting legacy, backed by 30 years in financial services.
Read full bio →
As heard on Let’s Talk Safe Money®
Hear Len and Art explain it on the show.
Len and Art host the show on 610 WIOD. Watch more episodes in LSF University.
Watch full episodesQuestions
Common questions about legacy planning
How do my kids pay taxes on an inherited IRA?
Withdrawals from an inherited traditional IRA are generally taxed as ordinary income to the person who takes them. Many non-spouse beneficiaries must empty the account within 10 years, and some may also need to take yearly withdrawals during that time. Rules depend on who inherits and when, so consult your tax professional.
Can life insurance help pass on wealth tax-efficiently?
It may. Life insurance death benefits are generally paid to beneficiaries free of federal income tax. Estate taxes and other rules can still apply depending on how the policy is owned. Coverage depends on underwriting, and tax treatment depends on your situation, so consult your tax advisor.
Do I need life insurance after I retire?
Not always. It may make sense if a spouse would lose income when you pass, if you want to leave a specific amount to family or charity, or if heirs may face taxes on inherited accounts. If none of those apply, you may need less coverage, or none. We help you decide based on your goals.
How often should I review beneficiaries?
At least every few years, and after any major life event, like a marriage, divorce, birth, death or move. Beneficiary forms often override your will, so an outdated form can send money somewhere you didn't intend.
Do you prepare wills and trusts?
No. LSF Capital isn't a law firm and doesn't give legal advice or draft legal documents. We work alongside your estate attorney, helping you see where your documents and accounts may need updating so your attorney can make the changes.
How can I plan for a surviving spouse's income?
Start by listing what income continues and what stops when one spouse passes, such as one of two Social Security checks or part of a pension. Then look at ways to fill the gap, which may include life insurance, survivor benefit choices or adjusting your income plan. We help you map it out.
Serving Broward, Palm Beach, Miami-Dade & North Carolina
Call 954.999.0355Trafalgar Plaza, 5310 NW 33rd Ave., Suite 114, Fort Lauderdale, FL 33309 · In person, or by video from anywhere in the country
Connect with a licensed insurance agent
Book a call about life insurance and legacy options
15 minutes, no obligation. Pick a time and we’ll call you, or meet us at Trafalgar Plaza or by video.
- Topic set to Legacy & life insurance, change it if you like.
- Prefer to call? 954.999.0355
Important information. LSF Capital is not a law firm and does not provide legal advice or prepare wills, trusts or other legal documents. We work alongside your estate attorney. Life insurance coverage depends on underwriting; benefits are subject to policy terms and the claims-paying ability of the issuing insurance company. Tax information is general and is not tax or legal advice for your situation; consult your tax advisor. LSF Capital serves Broward, Palm Beach and Miami-Dade from Trafalgar Plaza, 5310 NW 33rd Ave., Suite 114, Fort Lauderdale, FL 33309, in person or by video.