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What Is An Irrevocable Life Insurance Trust

July 24th, 2017 7:07 AM

Historically, one of the main reasons to set up an irrevocable trust has been to avoid or minimize any potential estate tax, but now there are other planning purposes for these trusts. An advantage of life insurance trust is that it removes the life insurance from the estate of the insured. You should carefully consider who the trustee is and discuss the ramifications with your attorney. Full Story »

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