Guiding Clients Through Estate Planning: A Strategic Asset for CPAs

Rohit Punyani, Co-Founder • February 14, 2024

Helping Your Clients Protect and Direct Their Legacy with Confidence

As a CPA, your role often extends beyond tax filings and compliance—you’re a trusted advisor on matters of long-term wealth, retirement, and legacy. One area where your guidance is especially critical is estate planning.


Whether you’re advising a high-net-worth business owner or a single client with philanthropic ambitions, you’ve likely heard the same refrain:


“Estate planning is too complicated.”


“I’m not wealthy enough for that.”


“I don’t have heirs, so it doesn’t apply to me.”


In reality, none of these assumptions are true. As you know, estate planning isn’t just for billionaires. It’s for anyone who wants to control how their assets are transferred, reduce unnecessary tax exposure, and ensure their wishes are honored—regardless of family status or net worth.


Three Common Estate Planning Myths—And What You Can Do About Them


Many clients delay estate planning due to misconceptions like:


  • “It’s too complex.” In reality, a basic plan may only require core documents: a living will, powers of attorney (financial and medical), guardianship designations, and current beneficiary listings.

  • “It’s only for the ultra-wealthy.” Every client has assets—whether it’s real estate, business interests, or retirement accounts—that require direction.

  • “No heirs means no need.” Clients without direct heirs still benefit immensely from estate planning, particularly if they want to support charities, institutions, or causes they care about.

By proactively addressing these myths, you help clients avoid probate delays, tax inefficiencies, and unintentional disinheritance.


Life Insurance as a Planning Tool — More Than Just a Death Benefit


A strategic estate plan often includes life insurance as a core asset. For clients with illiquid estates (e.g., business ownership, real estate portfolios, or investment properties), life insurance can provide critical liquidity when it’s needed most—without requiring asset liquidation.


Here’s what CPAs should consider:


  • Tax-Free Liquidity: Properly structured life insurance proceeds can fund estate taxes, final expenses, or distributions without triggering additional tax burdens.

  • Avoiding Forced Sales: Life insurance allows beneficiaries to retain appreciating assets—rather than selling under duress to cover obligations.

Business Continuity: In closely held businesses, life insurance can fund buy-sell agreements or provide a financial bridge for succession planning.


Enhancing Protection with an ILIT (Irrevocable Life Insurance Trust)


For clients with larger estates or potential estate tax exposure, combining life insurance with an Irrevocable Life Insurance Trust (ILIT) can offer substantial protection:


  • If the life insurance policy is owned by the ILIT—not the individual—the death benefit is excluded from the taxable estate.

  • This structure keeps the policy proceeds shielded from estate taxation and protects assets for designated beneficiaries or organizations.

This approach is especially useful for:


  • Clients in states with estate or inheritance taxes.

  • Clients concerned about creditor protection.

  • Philanthropically inclined clients who want control over charitable distributions.


Introducing Legacy Banking: A Holistic Strategy


We often introduce clients and CPAs to Legacy Banking—a comprehensive approach that combines life insurance, retirement planning, and estate protection in one integrated strategy.

When implemented correctly, Legacy Banking can provide:


  • Tax-free retirement income via policy loans.

  • Asset protection through policy structure.

  • Liquidity to address future obligations without asset liquidation.

  • Intergenerational wealth transfer, preserving family businesses or supporting long-term charitable goals.


Partnering with Fusion Strategies


At Fusion Strategies, we work collaboratively with CPAs to design estate planning strategies that fit seamlessly within a client’s broader financial plan. Whether it’s integrating life insurance into an estate strategy, helping fund a buy-sell agreement, or maximizing charitable impact, we’re here to provide planning support and implementation expertise.


If you have clients who could benefit from a structured estate strategy—especially one that reduces tax exposure and enhances control—we’re ready to collaborate.


Let’s talk about how we can help your clients protect their legacy and make your advisory role even more impactful. Get in Touch! www.fusion-strategies.com/contact




Using Life Insurance to Fund Real Estate: What CPAs Should Know

By Rohit Punyani, Co-Founder • December 13, 2024
As a CPA, you’re often the first call when clients evaluate how to finance real estate investments—particularly those interested in leveraging tax-advantaged liquidity and minimizing opportunity costs. One lesser-known but increasingly relevant tool in this space is dividend-paying whole life insurance, specifically through policy loans against cash value.

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By Rohit Punyani, Co-Founder • October 9, 2024
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When Is the Best Time for Clients to Buy Cash Value Life Insurance?

By Rohit Punyani, Co-Founder • September 24, 2024
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By Rohit Punyani, Co-Founder • August 26, 2024
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By Rohit Punyani, Co-Founder • August 7, 2024
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By Rohit Punyani, Co-Founder • June 11, 2024
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Key Person Insurance: A Strategic Business Continuity Tool for Your Clients

By Rohit Punyani, Co-Founder • May 21, 2024
As a CPA advising closely held businesses or professional service firms, you’ve likely helped clients navigate risk in many forms—from tax exposure to succession challenges. One often overlooked yet essential area of business risk planning is the loss of a critical team member whose expertise, leadership, or institutional knowledge is central to the company’s continued success.

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By Rohit Punyani, Co-Founder • April 9, 2024
As a CPA, your clients count on you to help them grow and protect wealth—especially through smart tax deferral strategies. One often-overlooked tool is the cash balance plan, a powerful retirement vehicle designed for high-earning business owners and 1099 contractors. Unlike 401(k)s, which have limited annual contributions, cash balance plans allow contributions up to 10x higher, depending on age and income. This gives your clients the opportunity to significantly reduce taxable income while building retirement assets.

Whole Life Insurance as a Strategic Wealth Tool for Your Clients

By Rohit Punyani, Co-Founder • March 19, 2024
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