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 ...

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 ...

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 ...

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 ...

Julia Kagan is a financial/consumer journalist and former senior editor, personal finance, of Investopedia. Marguerita is a Certified Financial Planner (CFP), Chartered Retirement Planning Counselor ...

Consider ease of set-up, ability to modify, asset protection, and tax benefits Reviewed by Anthony Battle Fact checked by ...

When planning for the future, many people use trusts as a way to manage their assets, avoid probate, and protect their loved ones. But not all trusts are created equally. Determining which estate ...

Many people (and even some seasoned financial advisors) believe that you can simply gift your existing life insurance policy to your irrevocable life insurance trust (ILIT) without any implications.

For clients waiting to see if Congress will extend or cut the lifetime gift and estate tax exclusion next year, setting up an irrevocable trust now can be a base-covering estate planning option. Katie ...

But there’s one complication: years ago, Lisa transferred her home into an irrevocable trust, naming her two sons as both ...