Asset Transfer

What Does Asset Transfer Mean?

An asset transfer occurs when an individual transfers ownership of an asset to another person or group of people.

Life insurance policies can serve as a means to transfer assets to beneficiaries.

Insuranceopedia Explains Asset Transfer

Wealth from life insurance policies is not the only asset commonly transferred after the owner’s death. Many individuals specify the transfer of their assets in a will and testament. However, unlike many assets transferred through wills, death benefits from life insurance policies are generally exempt from certain taxes, making them an appealing option for transferring wealth.