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23 Okla. L. Rev. 125 (1970)
Life Insurance and Its Use in Estate Planning

handle is hein.journals/oklrv23 and id is 139 raw text is: OKLAHOMA LAW REVIEW VOLUME 23 MAY, 1970 NUMBER 2 LIFE INSURANCE AND ITS USE IN ESTATE PLANNING FREDRIc H. WRIGHT* Introduction This article is written not with a view to impress colleagues with scholarly research and reporting but rather with the singular hope of aiding legal practitioners in a better understanding of the product value of life insurance and its implementation as an asset and tool of the family estate plan. The attorney who advises his client in building, conserving and eco- nomically disposing of his estate without at least a sound basic knowledge of life insurance techniques is as inexpert as the client who attempts to build, conserve and economically dispose of his estate without the services of a lawyer. This is a luxury that not even the most prosperous can or should afford. Attorneys generally, and particularly those involved with the intri- cacies and multitude of tax complexities involved in estate planning, cannot expect to maintain a capability in the life insurance field even remotely comparable to that of the life underwriter. Instead, the life underwriter should be an indispensable member of the estate planning team. The first step toward the development of any sound family estate plan is that of communication among all five members of the estate planning team-the attorney, the life underwriter, the accountant, the trust officer, and most important, the client. Attorneys will invariably find that, by reason of extensive training and certified qualification, the chartered life underwriter will readily speak their language. But, will the attorney both speak and understand the life underwriter's language? Again, a principal purpose of this article is to build that bridge of communication. * BBA., 1954, LL.B., University of Oklahoma, 1960; adjunct professor of law, Okla- homa City University (taxation), 1970; private law practice, Oklahoma City, Oklahoma. 125

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