Can Life Insurance Go Into A Trust?

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    Peggy MacePRO
    Most of the U.S.
    Yes, life insurance can be owned by a trust, and/or the beneficiary can be a trust. Some people use Irrevocable Life Insurance Trusts to prevent the life insurance proceeds from being counted as part of the value of their estate, upon death. Other times, trusts are simply used for practical purposes of distributing the death benefit according to the owner's wishes.
    Answered on September 19, 2013
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