Talking about illness, death and taxes is not most people’s idea of a good time (except for us estate planners). That being said, there are times in life when it’s time to move updating your estate plan off the ‘to do’ list and on to the ‘done’ list. Here are those times:
An irrevocable life insurance trust (ILIT) can provide peace of mind, as you start your estate planning process. If you have a sizable estate or young beneficiaries, an ILIT can provide control over a life insurance policy that a last will and testament may not.
Where does help become undue influence?
Trusts fall into one of two main categories. The first category is composed of those that are established while the grantor (one who establishes the trust) is alive and are termed inter vivos (while living) trusts.