| Life Insurance Trust |
| An irrevocable life insurance trust is designed to remove the death benefits from the estate entirely. Normally, life insurance proceeds will be included in the estate for federal estate tax purposes if there are what is called "incidents of ownership." By creating life insurance trust, these incidents of ownership can be transferred to the trust, and the proceeds will not be included in the taxable estate. That can be wonderful news. This type of trust is often called a Crummey Trust. Properly used, this trust can be used with other estate planning tools to accomplish a few simple but extraordinary tasks for the grantor and the beneficiaries. |
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| Estate Planning & Asset Protection |
| Learn on this site how to do good estate planning and good asset protection. Learn also how to coordinate your business planning with your estate planning. |
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