SPIEGEL & UTRERA, P.A.

LAWYERS

PAYMENT IS NOT REQUIRED

FORM YOUR ENTITY ONLINE!
SPIEGEL & UTRERA, P.A.

LAWYERS
FORM YOUR ENTITY ONLINE!

PAYMENT IS NOT REQUIRED

Back
Irrevocable Life Insurance Trust

Irrevocable Life Insurance Trust

$667.95

Why the Life Insurance Trust?

An ILIT is a specialized financial tool designed to own a life insurance policy with the primary objective of keeping the policy proceeds outside the estate, mitigating estate tax implications.

The ILIT acts as a strategic financial management instrument, enabling the annual transfer of a portion of family savings in alignment with favorable tax laws. This facilitates tax-free accumulation of amounts invested in the policy, positioning the ILIT as a valuable long-term wealth-building tool, fostering substantial value over time.
Categories: , Tags: , ,
Considering a Life Insurance Trust?

  • Estate Tax Mitigation: ILIT efficiently mitigates estate taxes by keeping life insurance proceeds outside the taxable estate. This proactive approach ensures that the full amount of the policy proceeds is available for your family, shielding it from significant estate tax implications.
  • Asset Protection: By holding the life insurance policy within the ILIT, both the cash value and the policy proceeds receive robust protection against potential lawsuits and claims. This strategic asset protection enhances the overall security of your financial plan, providing peace of mind.
  • Strategic Financial Management: The ILIT introduces a strategic avenue for proactive financial management. It allows for the annual transfer of a portion of family savings, providing a consistent mechanism for meeting policy premiums. This ensures the seamless continuation of the policy while aligning with favorable tax laws.
  • Tax Efficiency: ILIT leverages favorable tax laws, allowing amounts invested in the policy to accumulate free of income tax. This tax-efficient feature contributes to the ILIT's role as a long-term wealth-building tool, fostering the accumulation of substantial value over the years.
  • Wealth Building Tool: As part of a comprehensive financial strategy, ILIT acts as a wealth-building tool. Through the annual transfer of family savings and tax-free accumulation of invested amounts, ILIT facilitates the accumulation of significant value over an extended period.
  • Seamless Beneficiary Transfer: Beyond tax advantages and asset protection, ILIT ensures that intended beneficiaries receive the policy proceeds without complications. This streamlined transfer process adds an extra layer of assurance for the effective distribution of assets to your loved ones.
  • Comprehensive Estate Planning: ILIT stands as an integral component of an overarching estate plan. Tailored to your unique circumstances, our firm facilitates the seamless integration of ILIT into your financial portfolio, ensuring enduring financial well-being for your loved ones.

ORDER
TODAYPAY-LATER

—One of our associates will contact you shortly

*Did you know there’s a way to shield all of your assets from creditors?


MONTHLY

CIRCULARS

Legal Aesthetics

Image

Living trusts, prized for probate avoidance and streamlined asset distribution, see increasing popularity as individuals seek alternatives to conventional wills. Recognizing the advantages of heightened control, flexibility, and privacy in estate management, people are drawn to these trusts. Stay informed for optimal estate planning.