Estate Planning: Valuing Your Book and Finding a Buyer Today

Posted on March 10, 2012 and updated March 21, 2012 in Buying or Selling a Book of Business, Life Insurance Canada News 1 min read

Selling a book of business is most often an integral part of estate planning for advisors nearing retirement.

“I think most advisors, because it’s their job to do estate planning for others, sometimes forget to do it for themselves. This means valuing and preparing your book of business for sale way before it’s actually needed by the buyer,” says Cameron Jacox, managing partner with Jacox-Hilton Corporation, a firm that offers consulting services and in-force analysis software to advisors.

“When you pass away and if some like a relative is inheriting your book, depending on where that is, there’s usually going to be tax associated with that, so life insurance and trusts are used to avoid as much of that tax as possible. It’s more about assigning a value and knowing what it’s worththan trying to sell it right then and there,” concludes James Hilton, Jacox’s business partner.