By Michael Nedreski
You’ve worked hard to build your wealth—whether that’s a business, real estate, investments, or other assets. The question is how to pass it on efficiently and fairly. Life insurance can be a cornerstone tool in both estate and multigenerational planning.
One of the biggest challenges in estate planning is ensuring liquidity—having enough cash on hand to cover estate taxes, legal fees, and other expenses without forcing heirs to sell important assets. This is especially relevant for families with illiquid holdings like a family business or farm. A properly structured life insurance policy can provide immediate, tax-free cash exactly when it’s needed, preserving the value of the estate.
Life insurance can also be a powerful tool for equalizing inheritances. If one child will inherit the family business because they are actively involved, a policy’s death benefit can provide equivalent value to other heirs, avoiding conflicts and keeping the business intact.
For larger estates, holding a policy within an Irrevocable Life Insurance Trust (ILIT) can ensure the proceeds are kept outside of the taxable estate, avoiding unnecessary estate taxes and protecting the funds from creditors. In addition, permanent life insurance policies, such as Whole Life or IUL, offer a cash value component that can be used during your lifetime for gifting, education funding, or helping the next generation launch a business—all while maintaining long-term protection.
Ultimately, estate and multigenerational planning is about more than passing on money; it’s about ensuring opportunity, stability, and family harmony. Life insurance remains one of the most reliable ways to achieve all three.
If you’d like to get in touch with the White Oak Wealth Partners team, contact us by calling 814-835-4551, emailing MICHAEL.NEDRESKI@LPL.COM, or scheduling an appointment here.
About Michael
Michael Nedreski is Founder & Independent Wealth Coach at White Oak Wealth Partners, a specialized financial lifestyle and wealth management firm serving entrepreneurs, business owners, executives, and their families. Mike has 30-plus years of experience in the financial services industry and is committed to serving his clients through holistic financial planning, disciplined investment strategies, and proactive personal service.
A native of Erie, Pennsylvania, Mike began his career in the financial services industry in 1988. He has earned the Chartered Retirement Planning CounselorSM (CRPC®) designation conferred by College for Financial Planning (188-LPL). Mike is also an active member of the Financial Services Institute (FSI) and Financial Planning Association (FPA).
When not working, Mike enjoys spending time with his wife, Amy, and their children. He volunteers in his community and at his church and his children’s schools. An outdoors enthusiast, Mike loves hunting, fishing, golfing, and spending time near or on the water. He also enjoys working out and watching some of his favorite sports teams, the Pittsburgh Pirates and the Cleveland Browns. To learn more about Michael, connect with him on LinkedIn.