In an ILIT, the grantor or creator of the trust cannot change the terms or beneficiaries of the trust, just like any irrevocable trust. However, grantors may place one or more life insurance policies ...

Christy Bieber has a JD from UCLA School of Law and began her career as a college instructor and textbook author. She has been writing full time for over a decade with a focus on making financial and ...

Q: How should you handle life insurance in a living trust? Should the trust be named beneficiary of the policy? A: The answer to this question really depends on a lot of things. The terms of the trust ...

Life insurance has long played a crucial role in estate planning and wealth transfer. Its evolution has addressed two primary challenges: creating an estate when liquidity is insufficient to support ...

Life insurance trusts, particularly irrevocable life insurance trusts (ILITs), can minimize estate taxes and protect your heir's inheritance. By Marguerite Weese, JD, LL.M.

There are different types of trusts that can be used to achieve specific estate planning and wealth preservation goals. Irrevocable trusts can be used to protect assets from creditors and to minimize ...

When a married parent creates an irrevocable trust for the benefit of his or her children, the married parent, as the creator or settlor of the trust, often provides for his or her spouse to have ...