The Basics of Establishing an Irrevocable Life Insurance Trust

By Stephan R. Leimberg, and Jonathan E. Gopman and Michael Sneeringer Estate planners usually encounter some form of insurance when examining a client’s schedule of assets. The primary utility of life insurance in the tax planning context is the opportunity it provides to transfer future benefits at a reduced present cost. An irrevocable life insurance trust (ILIT) is a useful …

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