Planning Using The Multi-Purpose Irrevocable Life Insurance Trust
Life insurance is a flexible and powerful financial and estate planning tool. When life insurance is owned by a trust it is even a more robust and safe estate tax minimization and asset protection tool. But modern trust drafting can facilitate making what would have been just another a plain vanilla life insurance trust in prior years into an incredibly flexible and powerful all-in-one planning tool. The same trust that owns life insurance can be adapted to hold business, real estate and other assets, avoid the need for annoying Crummey powers, be a dynastic trust, trust for children, grandchildren and other heirs and more. This program will explore how to make an insurance trust truly multi-purpose.