In an ILIT, the grantor or creator of the trust cannot change the terms or beneficiaries of the trust, just like any irrevocable trust. However, grantors may place one or more life insurance policies ...

A typical challenge encountered by estates of varying sizes and complexities is the lack of liquidity to cover the costs of estate administration. These expenses may satisfy just debts to creditors or ...

Click here to BUSINESS CONTINUATION AGREEMENTS are often partially funded or totally funded with life insurance. Most, if not all, of the life insurance proceeds are includable in the estates of the ...

This post has been updated as of March 28, 2024, to reflect changes to the Massachusetts estate tax exemption. There is a common misconception that life insurance benefits are not subject to estate ...

On Dec. 1, 2011, the Internal Revenue Service issued Revenue Ruling 2011-28, 1 which finally clarified that a life insurance policy in an irrevocable trust isn't included in the grantor's estate if ...

"The things you do for yourself are gone when you are gone, but the things you do for others remain as your legacy." - Kalu Ndukwe Kalu C reated to own and control a life insurance policy or policies ...

Life insurance is an excellent way to plan on providing for your family after your death. Taking that plan to the next level with a life insurance trust is a good way to protect those assets, help ...

Editor's note: This is the first article in a series about financial and/or estate planning issues that we all should know but might be too embarrassed to ask about. First up: life insurance trusts.

When it comes to safeguarding your assets and ensuring a smooth transfer of wealth, the decision between creating a trust or ...

When a married parent creates an irrevocable trust for the benefit of his or her children, the married parent, as the creator or settlor of the trust, often provides for his or her spouse to have ...

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