How Do You Write Life Insurance In A Trust?

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    Steve Savant
    Syndicated Financial Columnist, Host of the weekly talk show Steve Savant's Money, the Name of the Game, Scottsdale Arizona
    Generally speaking, life insurance that is being considered as a funding product for a trust is generally attempting to keep the life insurance proceeds from federal and/or state estate taxation. An Irrevocable Life Insurance Trust (ILIT) is set up by an attorney making the ownership of the life insurance policy the ILIT. Consult an estate tax attorney before moving forward with asset ownership issue like life insurance.
    Answered on August 14, 2013
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