A.M. Best and Lehman Brothers Release Estate-Tax Reform Report.Business Editors OLDWICK, N.J.--(BUSINESS WIRE)--May 21, 2001 Uncertainty over the direction of estate-tax reform is creating confusion in the estate planning Estate Planning The overall planning of a person's wealth, including the preparation of a will and the planning of taxes after the individual's death. Notes: Contrary to popular belief, estate planning involves much more than preparing a will, and it is not only for the marketplace and a drag on Verb 1. drag on - last unnecessarily long drag out last, endure - persist for a specified period of time; "The bad weather lasted for three days" 2. sales of related products and services, according to according to prep. 1. As stated or indicated by; on the authority of: according to historians. 2. In keeping with: according to instructions. 3. a new report by A.M. Best Co. and Lehman Brothers Lehman Brothers Holdings Inc. (NYSE: LEH), founded in 1850, is a diversified, global financial services firm. It is a participant in investment banking, equity and fixed income sales, research and trading, investment management, private equity, and private banking. , that quantifies the extent of the slowdown. The full report, "Estate-Tax Uncertainty Slows Sales, Promotes Shift in Product Focus," will be released at the A.M. Best/Lehman Brothers insurance conference, May 21-22, in New York City New York City: see New York, city. New York City City (pop., 2000: 8,008,278), southeastern New York, at the mouth of the Hudson River. The largest city in the U.S. . Excerpts from the study are found in the May 21 issue of BestWeek. The report, based on a survey of leading writers in the estate planning market, also provides estimates of the impact of estate-tax reform or repeal The Annulment or abrogation of a previously existing statute by the enactment of a later law that revokes the former law. The revocation of the law can either be done through an express repeal on the market under several possible legislative scenarios. Analysts at Best and Lehman found that as customers delay estate-planning decisions, insurance producers are shifting focus to alternative products. The report describes how the growth in these products could offset the decline in estate-planning related sales. Some key issues: - Why the potential top-line impact could be considerably broader than estimates that focus only on survivorship life. - What new products are likely to be created with a 10-year phaseout of the estate tax. - Why, while sales are expected to decline, renewal premium will probably remain stable. The full report is available to BestWeek subscribers at www.bestweek.com. Non-subscribers can purchase the full report from www.bestweek.com. A.M. Best Co., established in 1899, is America's oldest and most widely recognized insurance rating and information source. For more information, visit A.M. Best's Web site at www.ambest.com. |
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