Who owns a life insurance trust?

Answer The trust itself owns a life insurance trust. Upon the death of the insured, benefits are paid into the trust while a trustee administers and oversees disbursement to the named beneficiaries. The p... Read More »

Top Q&A For: Who owns a life insurance trust

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 »

Can a Trust Be a Life Insurance Beneficiary?

Most U.S. jurisdictions allow life insurance trusts, in which a trust is designated as the beneficiary of the life insurance proceeds. However, the settlor (the individual assigning the life insura... Read More »

Tax Consequences of a Revocable Life Insurance Trust?

A revocable trust, whether life insurance or otherwise, is one that you control while you're alive. You can change the assets in the trust, too. If you put a life insurance policy inside the trust ... Read More »

How to Create an Irrevocable Life Insurance Trust?

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 »