How to Create an Irrevocable Life Insurance Trust?

Answer An Irrevocable Life Insurance Trust, or ILIT, is a commonly used estate planning tool. When an individual passes away, all the assets in his taxable estate (including life insurance proceeds) are ... Read More »

Top Q&A For: How to Create an Irrevocable Life Insurance Trust

How to Cancel an Irrevocable Trust Life Insurance Policy?

An Irrevocable Life Insurance Trust is a type of trust used to purchase life insurance only on the life of the trustees. The life insurance is not owned by the trustees and thus the benefits paid a... Read More »

What is a life insurance trust?

Anyone can set up a life insurance trust when owning a life insurance policy. This allows the insured to transfer ownership of the policy upon his death. This is often done to avoid estate tax.Sour... Read More »

LLC Vs. Irrevocable Trust?

In the area of estate planning, you can use a number of tools to help protect your assets and property. Some people put their assets into the ownership of a limited-liability company, or LLC, while... Read More »

What is irrevocable trust?

An irrevocable trust is a legal method for owning property. An irrevocable trust, unlike a revocable trust, can only be terminated with the consent of the trustee and the beneficiaries.BasicsA trus... Read More »