The process of planning a retirement and managing finances can be quite complicated at times. However, with expert guidance from firms such as HCR Wealth Advisors, a person can be in better position to more easily manage financial affairs. As well as saving for retirement, another thing that should be considered is getting a life insurance policy. A life insurance policy can provide a way to make sure that surviving family members are covered for a variety of expenditures. They will not have to worry about paying for funeral expenses or any debts. As a result, this can help a family be more financially secure upon death.


While in the process of getting a life insurance policy, it is important to get a full understanding of the tax liabilities that are associated with it. An advisor at HCR Wealth Advisors can provide more detailed information about tax liability. According to HCR Wealth Advisors, the proceeds from a life insurance policy is free of any income tax obligations. However, life insurance policies can be subject to an estate tax. Each state has its own regulations of estate taxes on life insurance policies. Therefore, a person should contact a tax professional about the estate tax for life insurance policies. With feedback from these parties, a person can help to determine which amount of life insurance coverage will satisfy a person’s financial needs.

HCR Wealth Advisors is one of Southern California’s most reputable financial services firms. For over three decades of experience in assisting people and families with their financial affairs. HCR Wealth Advisors has a team of professionals who are committed to providing a variety of services that help people plan their financial future. With HCR, clients are able to more easily plan for their retirement, accumulate funding for college and also learn more about other financial affairs such as insurance policies. During the past thirty years, HCR has become one of the most trusted firms for many different clients that include high net worth individuals, families and entrepreneurs.

This article is for informational purposes only and should not be considered investment advice. HCR Wealth Advisors is not affiliated with this website.