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 ...

Life insurance trusts, particularly irrevocable life insurance trusts (ILITs), can minimize estate taxes and protect your heir's inheritance. By Marguerite Weese, JD, LL.M.

Editor's note: This is the first article in a series about financial and/or estate planning issues that we all should know but might be too embarrassed to ask about. First up: life insurance trusts.

Q: How should you handle life insurance in a living trust? Should the trust be named beneficiary of the policy? A: The answer to this question really depends on a lot of things. The terms of the trust ...

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 you apply for most types of life insurance, there is no guarantee you will be accepted – at least not at an affordable premium. That’s because the life insurance provider might determine that you ...

The benefits of being self-employed can include the flexibility to work when and where you want to generate your own income. On the flipside, perks available to many employees, such as employer ...

Life insurance has long played a crucial role in estate planning and wealth transfer. Its evolution has addressed two primary challenges: creating an estate when liquidity is insufficient to support ...

A million-dollar life insurance policy isn’t just for the ultra-wealthy. It could be a smart choice for anyone with major financial responsibilities. Insurers don’t approve seven-figure policies for ...