Irrevocable Life Insurance Trusts Can Boost Your Estate Plan

Many estate planning practitioners view the irrevocable life insurance trust (ILIT) as one of the most flexible and powerful estate planning tools available. When properly implemented, the proceeds of an ILIT will not be included in your estate. They will be payable to the ILIT's beneficiaries (generally, children and grandchildren) without incurring any estate tax consequences. Bear in mind that, like all trusts, qualified legal expertise is necessary to draft an ILIT.

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