Irrevocable Life Insurance Trusts and How They Work

Irrevocable Life Insurance Trusts are making a comeback as a popular tool to help avoid estate taxes or help pay the taxes without having to liquidate assets.

But how do these irrevocable trusts work?

What needs to be done to set one up?

How are premium payments for the insurance handled?

In this installment, Jeff reviews the ins and outs of “ILITs.”

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