A life insurance trust is an irrevocable, non-amendable trust which is both the
owner and beneficiary of one or more life insurance ... Funded insurance trusts
are not commonly used for two reasons:...
An ILIT is a highly technical trust document that is controlled not only by trust law,
but ... (Note: Effective January 1, 2013, estate taxes can be as high as 55% on ...
It owns your life insurance policy for you, removing it from your estate. ... You can
choose the Trustee (or Trustees) who will manage your ILIT. ... An essential part
of wise estate planning is deciding not only who our heirs will be, but also ... have
the policy's proceeds paid out immediately to one or all of your beneficiaries.
A flexible irrevocable life insurance trust, holding a second-to-die policy, can ... L.
No. 97-34, 95 Stat. 172, a husband and wife with proper estate planning can
delay ... second-to-die ILIT in which both spouses are grantors, only one spouse
can be ..... By Michael J. Zerman; Tides, Torrens, and Family Trees—Heirs
Mar 15, 2016 ... It may not help you cheat death, but it may help manage taxes. ... One of the main
reasons people set up an ILIT is to help provide their heirs .... is a solid company
and not likely to go out of business,” says Robert H. Brown, ...
Feb 8, 2008 ... Using an ILIT in Estate Planning. 1. By Ward J. Wilsey, JD, LLM The ... How an
ILIT pays estate taxes <ul><li>ILITs do not pay estate taxes ...