DRAFTING A FLEXIBLE IRREVOCABLE LIFE INSURANCE TRUST ...
Jun 23, 2009 . An irrevocable life insurance trust ("ILIT") is widely recognized as one . First, the grantor-spouse's revocable living trust can leave all or part of .
http://www.wealthstrategiesjournal.com/articles/2009/06/drafting-a-flexible-irrevocabl.html
Using Trusts to Protect Assets | BizFilings Toolkit
May 24, 2012 . trust, trustee, trustor, beneficiary, probate court, estate taxes, asset protection, . eliminate the federal estate tax (e.g., creating an irrevocable life insurance trust), these . Understanding Trust Characteristics and Grantor Trusts .
http://www.bizfilings.com/toolkit/sbg/run-a-business/assets/using-trusts-to-protect-assets.aspx
Chapter 4 Grantor Trusts - Practising Law Institute
Insurance Trusts. [A] Grantor Trust Status. § 4:5. Other Grantor Trusts. § 4:5.1. Reverter to Grantor. [A] Grantor Trust Status. § 4:5.2. Control Over Beneficial .
http://www.pli.edu/product_files/booksamples/10318_sample4.pdf
Irrevocable Life Insurance Trust - Wade Ash Woods Hill & Farley
Because irrevocable life insurance trusts are generally grantor trusts under the IRS rules, your social security number can be used as the taxpayer identification .
http://www.wadeash.com/PDF/Resources/Irrevocable%20Life%20Insurance%20Trust.pdf
The Irrevocable Life Insurance Trust: An Underutilized Tool (Utah ...
Jan 14, 2009 . The ILIT should not state that the trust assets be used to pay the insured-grantor's estate tax or other obligations, as this would cause inclusion .
http://webster.utahbar.org/barjournal/2009/01/the_irrevocable_life_insurance.html
Obama's Tax Proposal Regarding Grantor Trusts | JMV Law Group
Mar 20, 2012 . And, indirectly, this proposal would eliminate the use of life insurance as an estate planning technique. Grantor trusts have been particularly .
http://jmvlaw.com/obamas-tax-proposal-regarding-grantor-trusts/
Ruling Offers Flexibility For Irrevocable Life Insurance Trust Setup ...
2007-13 holds that a transfer of a life insurance policy from one grantor trust to another grantor trust, where both trusts are wholly owned by the same grantor, .
http://www.lorman.com/newsletters/article.php?article_id=1031&newsletter_id=224&category_id=6
Burning Questions (and Even Hotter Answers) About Grantor Trusts
under § 2042 where the trust owned a policy of insurance on the grantor's life.15 But some practitioners think the Jordahl case was not very helpful because the .
http://www.naepc.org/journal/issue07c.pdf
Estate and Financial Planning Drafting Flexibility into an Irrevocable ...
Elements of a typical irrevocable life insurance trust. . Appointing a trust protector and making the trust a grantor trust for income tax purposes also increase trust .
http://www.americanbar.org/newsletter/publications/gp_solo_magazine_home/gp_solo_magazine_index/trustfund.html
Developments Involving Grantor Trusts - Venable LLP
as to specific assets of the trust. For example, the grantor retains the right to substitute assets under section 675(4) excluding life insurance policies. The grantor .
http://www.venable.com/files/Publication/0f37c6db-cc39-43b5-ba43-77d1ebfc7895/Presentation/PublicationAttachment/4f223214-65ad-4c44-97ab-86f51d4731d7/Newlon--Grantor_Trusts.pdf
Types of Trusts
With this concept in mind, there is one type of property that is often placed into an irrevocable trust; i.e., a life insurance policy on the grantor's life. The death .
http://livingtrustnetwork.com/estate-planning-center/revocable-living-trust/types-of-trusts.html
Irrevocable Life Insurance Trust (ILIT) - The Wealth Counselor
When such a trust holds a life insurance policy, usually on the grantor's life, it is an . In a funded life insurance trust, the grantor not only transfers the life .
http://www.thewealthcounselor.com/uploads/1_Irrevocable_Life_Insurance_Trust.pdf
Life insurance trust - Wikipedia, the free encyclopedia
A life insurance trust is an irrevocable, non-amendable trust which is both the . trust rules of IRC §677(a)(3) cause the grantor to be taxed on the trust's income.
http://en.wikipedia.org/wiki/Life_insurance_trust
Insurance, Crummey, and Grantor-Retained Interest Trusts - For ...
Insurance trusts, Crummey trusts, and grantor-retained interest trusts can solve issues that arise with an estate. Insurance trusts ensure that an estate meets its .
http://www.dummies.com/how-to/content/insurance-crummey-and-grantorretained-interest-tru.html
Estate Planning with an Irrevocable Life Insurance Trust
What is an Irrevocable Life Insurance Trust? An ILET involves one or more individuals or a trust company appointed to act as trustee, a grantor, and at least one .
http://www.jacobowitz.com/Senior-Resources/Estate-Planning-with-an-Irrevocable-Life-Insurance-Trust.shtml
Irrevocable Trusts - Creative Planning, Inc
The only way to revoke an irrevocable life insurance trust is to stop gifting the . Assets held in an irrevocable trust are not included in the grantor's taxable .
http://www.willandtrustcenter.com/irrevocable_trusts.asp
Selling a Life Insurance Policy: Income Tax Consequences for a ...
Nov 2, 2009 . There are circumstances where a grantor may become unhappy with the terms of the irrevocable trust that holds a life insurance policy.
http://www.lexisnexis.com/community/estate-elderlaw/blogs/trusts/archive/2009/11/02/selling-a-life-insurance-policy_3a00_-income-tax-consequences-for-a-non_2d00_grantor-trust-seller-and-a-grantor-trust-purchaser.aspx
Recently Posted Jobs
Law Firm Of Pepper Hamilton LLP | Defective Grantor Trusts
May 12, 1999 . Thus, the right of a trustee to pay premiums on insurance policies owned by the trust insuring the life of the grantor makes the trust a grantor .
http://www.pepperlaw.com/publications_article.aspx?articlekey=17
American College of Trust and Estate Counsel | Capital Letter No. 31
Feb 27, 2012 . Most of the rules treating a grantor as the owner of a trust were . that the transfer of life insurance contracts between two grantor trusts treated .
http://www.actec.org/public/CapitalLetter31.asp
ProducersWeb - Life - Power to substitute insurance policy in trust
Jan 2, 2012 . 2011-28, has ruled that the retention by the grantor of a trust owning a life insurance policy on the grantor's life, in a non-fiduciary capacity, of a .
http://www.producersweb.com/r/pwebmc/d/contentFocus/?pcID=17590cb7674c58ac179c99c99c504e6a
IRREVOCABLE LIFE INSURANCE TRUSTS - Albertson Davidson ...
In order to take advantage of the tax savings, the insured must create an irrevocable trust. The insured who creates the trust, known as the grantor, must depart .
http://www.aldavlaw.com/download_file/view/35/97/
Applying for a trust's EIN - Jason E. Havens - Havens & Miller, PLLC
May 13, 2012 . However, grantors (a.k.a., settlors or trustmakers) and trustees may use the online system. For example, for an irrevocable life insurance trust, .
http://blog.trustestatelaw.net/2012/05/applying-for-trusts-ein.html
Grantor Trusts Revisited - WealthCounsel
grantor trust without causing the trust to be included in the grantor's estate. . dress or cite §2042 (power of life insurance policies) in its holding, nor did it .
http://www.wealthcounsel.com/newsletter/DanCapobianco_GrantorTrustsRevisited.pdf
Intentionally Defective Grantor Trust, With Provision
The fact that the grantor trust rules are different for income tax and for gift and . Insurance: Life insurance can be obtained to provide proceeds in the event of .
http://www.jamespublishing.com/articles_forms/estateplanning/defective_grantor_trust.htm
06-0227-A Irrevocable Life Insurance Trust.indd - PwC
The person who creates the trust is typically the insured. The creator of a trust is often called the grantor, donor, or settlor of the trust. The people who benefit from .
http://www.pwc.com/en_US/us/private-company-services/assets/irrevocable-life-insurance-trust.pdf
Life Insurance and Life Insurance Trusts - American Bar Association
Indeed, by excluding assets from the insured's estate, a life insurance trust can more . As discussed below, life insurance trusts are generally grantor trusts.
http://www.americanbar.org/publications/probate_property_magazine_home/rppt_publications_magazine_2002_02jf_02jf_fogel.html