ILIT - The Irrevocable Life Insurance Trust
Posted by: Eric Hundin in , Estates, Wills, Trusts, Career Information, Blog CarnivalIrrevocable Life Insurance Trusts (ILITs) are planning tools used to keep life insurance proceeds outside of the taxable estate.
For example, if a married couple has an estate of 6 million, they can pass 4 million to the next generation with no tax if they set up the proper trust arrangement to take advantage of the maximum lifetime unified credits. That leaves 2 million still subject to tax under the current law.
The logical thing to do is to purchase a survivorshi (more…)



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