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ILIT

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Understanding the Crucial Distinctions: Why a Life Insurance Trust Is Not the Same as a Policy

By Isabella Moretti 10 min read 481 views

A life insurance policy is a financial contract that provides a death benefit to beneficiaries, while a life insurance trust (specifically an Irrevoca...

Finance & Wealth

A Life Insurance Policy Transferred to an Irrevocable Trust is a Gift of a Future Interest: Tax Implications and Strategy

By Isabella Moretti 10 min read 426 views

When a life insurance policy is transferred to an irrevocable trust, it is legally classified as a gift of a future interest because the beneficiaries...

ILIT

Understanding the Crucial Distinctions: Why a Life Insurance Trust Is Not the Same as a Policy

A Life Insurance Policy Transferred to an Irrevocable Trust is a Gift of a Future Interest: Tax Implications and Strategy

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