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Life Insurance 
Life Insurance Trust Life Insurance
plays a part in most estate plans. Make sure you have
sufficient coverage on your life for family members to maintain
their current lifestyle after you are gone. For larger estates
that may be subject to tax even when family trusts are used, life
insurance can provide the funds needed to pay estate taxes without
liquidating estate assets. If
you have a substantial amount of life insurance, you may want to
create an irrevocable life insurance trust to help beneficiaries
manage the proceeds and potentially reduce estate taxes. With
a life insurance trust, the trust is the owner and beneficiary of
your life insurance policies. At your death, your trustee
collects the proceeds and manages them for the benefit of your
family or other beneficiaries. As
long as the trust is properly structured, the insurance proceeds
won't be included in your estate for federal estate tax purposes,
with one exception. The proceeds of any insurance policies you
transfer to a trust within three years of your death will be
included. You can avoid this three year rule by:
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Transferring your insurance policies to a trust now while
you are in |
| good
health. |
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Having your trust buy new insurance policies on your life
rather than |
| transferring
existing policies. |
For more information please feel free
to browse around our web site. We are always happy to answer
any questions, or to schedule a consultation contact:
Email Us or call us at 847-215-8630.
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