From Our “Ask a Question” Mailbag: “Please give me Examples of Estate Planning Protecting a Surviving Spouse.” Examples of Estate Planning Protecting a Surviving Spouse: Example of a Disclaimer Trust protecting your surviving spouse. Mr. Philadelphia had his Estate Planning Lawyer incorporate a Disclaimer Trust in his Will. At Mr. […]
Tag: ILIT
Ask a Question” mailbag: I need life insurance as part of my estate plan to cover the cost of my son’s college tuition and pay off the mortgage. What policy best fits my needs?
First, focus on the reasons for why you are purchasing life insurance. Life insurance is an excellent Estate Planningtool, but only if you are clear as to its purpose.
From our “Ask a Question” mailbag: I have heard that if I form a trust, I can help reduce the federal estatetax due at my death, is that true?
There are many types of trusts. Some help reduce the federal estate tax and others do not.
From our “Ask a Question” mailbag: I have been reading about trusts to avoid probate. Can a trust help my estate avoid probate?
Trusts come in all shapes and sizes and can help you meet many different goals. If your goal is to avoid probate, you could use a Revocable Living Trust, or you could use any number of different Irrevocable Trusts. Both categories help your estate avoid probate.
From our “Ask a Question” mailbag: My CPA told me that I should form a trust to help the save federal estate tax payable at my death. I think he may have called it a Revocable Living Trust. Is that good advice?
From our “Ask a Question” mailbag: My wife’s and my estates are worth about $3,000,000, including a one million dollar life insurance policy on my life. At my death, my wife will receive the benefits from that policy. Upon both of our deaths, our assets pass to my son. Now that the federal estate taxexemption is over five million dollars, does an Irrevocable Life Insurance Trust provide me any benefit?
