Estate Funding with Anil Khanchandani
A thoughtful estate plan also needs a plan for the bills. Life insurance may help provide cash for family expenses and identified estate needs after a covered death.
Anil Khanchandani, CLTC®, helps you compare insurance funding options. Your attorney and tax adviser address legal documents, ownership and tax questions. Start with a no-obligation conversation.
Plan for cash needs alongside the assets you leave
A home, business or other asset may have value without being readily available as cash. Start by estimating final expenses, debts and settlement needs, then consider existing savings and insurance.
Insurance may help fill an identified gap. It does not guarantee an immediate payment, prevent every asset sale or replace the plan your attorney prepares.
Your insurance funding conversation
Bring the people you want to protect, existing coverage and a rough estimate of expenses. Anil can explain suitable available coverage, premium commitments and policy limitations.
Who receives the money matters. A benefit paid to a named individual is not automatically cash controlled by the estate’s executor. Coordinate ownership, beneficiaries and any trust arrangement with your attorney and tax adviser.
Claims require insurer review and documentation. Do not rely on a website estimate for the date or amount of payment. Anil receives carrier commissions and charges no consultation or service fees.
Plan for expenses while an estate is being settled
Estate administration can involve paperwork, court requirements and expenses. The process and timing depend on state law, the assets involved and the circumstances; not every asset passes through probate.
Ask your attorney what funds may be accessible and who can use them. Compare that with the family’s likely near-term expenses. Insurance and beneficiary choices should support this plan, rather than assume every probate delay can be avoided.
Coordinate care decisions and funding for dependents
If children or other dependents rely on you, discuss who would care for them and who would manage funds on their behalf. Guardianship, trusts and beneficiary arrangements are legal matters to review with an attorney.
Anil’s role is to explain insurance funding options for the needs you identify. For a dependent receiving public benefits, get qualified advice before choosing an ownership or beneficiary arrangement.
Match coverage to when your family needs the benefit
- A need at one person’s death: explore individual Term, Whole Life or IUL coverage, with different premiums, guarantees and funding requirements.
- A legacy after two people have died: survivorship life insurance generally pays after the second insured’s death. Separately consider income and expenses at the first death.
Insurance does not automatically remove an estate-tax liability. Ownership and tax treatment require qualified advice. Compare the options on the Life Insurance overview.
Prepare for a useful conversation
Use this checklist with Anil and your other advisers:
- Your family’s estimated expenses and readily available cash.
- Current policies, premium obligations and beneficiary designations.
- Any relevant attorney or tax-adviser instructions.
- A budget you can maintain, including after a spouse or partner dies.
Do not cancel existing insurance or change ownership or beneficiaries without reviewing the consequences with the appropriate advisers.
Self-service estate documents through NetLaw
NetLaw document packages are offered for purchase separately from insurance. These are self-service tools, with optional attorney help available. Attorney review is not included merely because a template was drafted by an attorney.
Confirm the current package contents, price, execution instructions and any separate attorney charges. You may use your own attorney or another document service. For New Jersey clients, Anil can help with the in-person notary process, subject to applicable requirements.
Understand the Service Before You Choose
NetLaw’s self-service document packages and optional attorney help are separate from Anil’s insurance services. Confirm which documents, support and execution instructions are included in the package being offered, and whether attorney help carries an additional charge.
Anil does not select legal documents for you or provide legal advice. Consult your own attorney about the documents, beneficiary arrangements and asset transfers appropriate to your situation. Read NetLaw’s description of its self-service platform.
Disclosure: Anil Khanchandani, CLTC®, is a licensed insurance producer affiliated with Hegemon Group International (HGI). He resells NetLaw package access and may earn a margin on those sales. NetLaw packages offered here are self-service document tools, with optional attorney help available. Confirm package pricing, included services and any separate attorney charges before purchase.
US Life Solution LLC and Anil do not provide legal or tax advice, draft estate documents or replace your attorney. In-person notarization assistance for New Jersey clients is subject to applicable requirements. You are free to choose another attorney or document service. Insurance recommendations and coverage are separate from document-platform services.
Questions worth asking yourself
There are no right or wrong answers here — just questions families find it helpful to sit with. If several give you pause, it may be time to talk with an attorney.
Explore Estate Planning Topics
What Is Probate?
How an estate is settled and which questions to ask your attorney.
Guardianship for Minor Children
Care and funding decisions to discuss with your attorney.
Estate Documents Explained
Wills, trusts, powers of attorney, healthcare directives — what each one generally does.
If You Own U.S. Assets
Why estate planning matters when you have family and property here — whatever your visa status.
Life Insurance & Estate Liquidity
How coverage may help fund family and estate expenses, subject to policy and claim requirements.
Talk It Through
A free, no-obligation conversation about funding and coordinating your plan.
Give your family a clearer funding plan
Discuss the expenses you want to fund, the coverage already in place and what premiums you can maintain. Compare available options without an obligation to buy.
Anil offers insurance where licensed and appointed and does not provide legal or tax advice. Calling, emailing, booking or submitting a website inquiry is nonbinding and does not start coverage. Approval, benefits and payment requirements depend on the insurer and issued policy.