irrevocable life insurance trust
Key Employee Life Insurance Checklist
Read our print-friendly PDF version The purpose of key employee life insurance coverage is to help indemnify a business for the loss of a key employee’s skills and experience in the event of the death of that person. Death benefits or cash values may be used to help recruit and train a replacement, to pay […]
Options When the Policy is Ready but the Trust Is Not
Situation: With the pending reduction of the estate tax exemption in 2026 many people are thinking about their own estate plans, causing a surge in estate planning and the purchase of life insurance. As a result, we are receiving a renewed interest in one of the most common estate planning techniques – that of the […]
A Business Does Not Need to Die At the Death of a Key Employee
Read our print-friendly PDF version Businesses are born when the market has a need and someone has a great idea for meeting the need. A product or service is developed and offered to the public. Over time, the skill, knowledge, leadership, and experience of the business’s key people make it possible for it to grow […]
Will there be an Estate Tax Problem if a Couple Establishes Reciprocal ILITS?
Situation: Today, moderately wealthy couples are increasingly worried about the future lower Federal exemption amount. To keep the life insurance proceeds outside their estate, we often suggest that their life insurance be owned by an irrevocable life insurance trust (ILIT). Many of those clients purchase life insurance because of the long-term care or chronic illness […]
