Tag: irrevocable trust
What Is an Irrevocable Life Insurance Trust?
Posted on November 29, 2023
Creating a comprehensive estate plan is crucial to ensure that your assets are distributed according to your wishes after you pass away. One important tool to consider as part of that plan is an irrevocable life insurance trust (ILIT). An ILIT can offer several benefits, including potential tax savings and the seamless transfer of certain assets. An experienced attorney can provide guidance on the role that an ILIT may play in your estate plan, and they can help you take steps to implement your plans and ensure that your wishes […]
When Should Irrevocable Trusts Be Used in an Estate Plan?
Posted on October 13, 2023
An estate plan is a crucial part of ensuring that your assets are distributed according to your wishes after you pass away. One tool commonly used in estate planning is the irrevocable trust. Unlike a revocable trust, which can be modified or revoked at any time, an irrevocable trust cannot be altered once it has been established. If you are considering the best ways to protect your assets and make sure your wishes will be followed correctly, an attorney can provide guidance on how irrevocable trusts and other estate planning […]
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