Sentences with phrase «irrevocable trust planning»

Thus, our top 1 % will continue to benefit greatly from irrevocable trust planning that uses what is called qualified gifting to an irrevocable trust in order to reduce or limit the size of the estate for estate tax exposure.

If you do have a larger estate, it is also important to consider estate planning that limits your estate tax exposure and this can be accomplished through spousal and generational planning, irrevocable trust planning, and charitable planning, with the assistance of a qualified expert.

Not exact matches

One way second to die life insurance can be extremely effective is to fund an Irrevocable Life Insurance Trust a / k / a ILIT as part of a complete estate plan.

An experienced estate planning attorney can prepare an irrevocable life insurance trust to meet your specific needs and objectives.

The strategy behind using an irrevocable life insurance trust («ILIT») for estate planning is moving assets out of the taxable estate.

If the federal estate tax were to be abolished, the question is whether this need to reduce the estate would go away and negate the need for planning with irrevocable life insurance trusts.

An irrevocable life insurance trust is a trust agreement that should be drawn up by an experienced estate planning attorney.

If you'd like to learn more about irrevocable life insurance trusts OR anything else pertaining to life insurance OR estate planning, e-mail or give us a call today.

Holding assets in an irrevocable trust for future generations is good planning.

That is why for large estates, having a plan in place to protect your assets, such as utilizing an irrevocable life insurance trust, is a great way to protect your wealth transfer from Uncle Sam.

A stand alone special needs trust can also be advantageous if the trustmaker has a large estate requiring federal estate tax planning because assets can be «gifted» to the special needs trust in the same manner as often used for an irrevocable life insurance trust.

For large estates, it is recommended to put a plan in place to protect your assets, such as utilizing an irrevocable life insurance trust.

That article also distinguished between revocable and irrevocable trusts which are respectively used for very different estate planning purposes.

«You may want to look at an irrevocable life insurance trust (ILIT) as an advanced planning technique,» says Rodney Weaver, Estate Planning Specialist at Fplanning technique,» says Rodney Weaver, Estate Planning Specialist at FPlanning Specialist at Fidelity.

HSBC Choice Checking $ 200 Welcome Deposit: For this offer, New Money is defined as deposits not previously held by any member of the HSBC Group in the U.S. Accounts / Assets that are ineligible for New Money include: insurance products; fixed and variable annuities; 529 College Savings Plans; any retirement accounts including but not limited to IRAs, Keogh, Simple IRAs, and 401 (k) Plans; UTMA and UGMA accounts; commercial accounts; and revocable or irrevocable trust accounts and estate accounts.

Special needs or pre-Medicaid estate planning may be accomplished by making an irrevocable special needs trust the beneficiary of a life insurance policy, thereby providing necessary support to a dependent beneficiary without disqualifying them from public benefits.

Generational or «dynasty» planning is about reserving a nest egg for future generations and this is often accomplished through the use of an irrevocable life insurance trust (ILIT).

Where high net worth households tend to separate from the pack, in terms of estate planning households, is the use of irrevocable trusts with a much greater emphasis on asset protection and federal estate tax planning.

One exception to the unfavorability of term life insurance for executive bonus plans if is the employee has accumulated a large estate and it is advantageous to use the policy to fund an irrevocable life insurance trust.

U.S. Accounts / Assets that are ineligible include: insurance products; fixed and variable annuities; 529 College Savings Plans; any retirement accounts including but not limited to IRAs, Keogh, Simple IRAs, and 401 (k) Plans; UTMA and UGMA; commercial accounts; and revocable or irrevocable trust accounts.

Estate planning for everyone starts with certain estate planning documents such as a last will and testament, durable power of attorney AND revocable and irrevocable trusts.

Two asset protection benefits are, one, that an irrevocable trust may be set up for the employee to own the policy, such as an irrevocable life insurance trust OR another type of grantor trust, and this can assure that the policy will not be included in the employee's taxable estate for split dollar estate planning purposes.

If family business succession planning is involved, the terms of the transition should be spelled out in the estate documents including any revocable or irrevocable trusts.

Gifting to an irrevocable life insurance trust has been particularly effective because gifted proceeds are used to purchase life insurance to further the estate planning goals and utilizing financial leverage with the gift.

With over 28 years of legal experience, she mostly practices in estate planning with an emphasis on Medicaid, VA Benefits, and special needs planning, including revocable, irrevocable and special needs trusts, wills, durable power of attorneys, and living wills.

My estate planning practice includes drafting documents including wills, revocable trusts, powers of attorney, health care directives, pre - and post-marital agreements, irrevocable life insurance trusts (ILITs), intentional defective grantor trusts (IDGTs), grantor retained annuity trusts (GRATs), all types of partnership agreements and documents related to the formation and operation of limited liability companies (LLCs).

Our estate planning practice includes wills, living wills, revocable and irrevocable trusts, powers of attorney, health care directives, elder law, guardianships and conservatorships, probate and estate administration, estate litigation and more.

We design estate plans that include revocable and irrevocable trusts, including insurance trusts, generation skipping and dynasty trusts, grantor retained annuity trusts, intentionally defective grantor trusts, and charitable trusts as well as family limited liability companies and family limited partnerships, and private foundations.

She assists clients in their pre-death wealth transfer planning through the creation of wills, revocable trusts, irrevocable trusts, powers of attorney, lifetime and charitable gifting.

In addition, Ms. Radspinner practices in the area of estate planning, including the preparation of wills, powers of attorney, advance medical directives, and revocable and irrevocable trusts.

Among his publications, he authored «Irrevocable Trusts,» Estate Planning Techniques Handbook, Institute of Continuing Legal Education, 1978.

Mr. Hafen's practice includes advice regarding sophisticated tax, estate, asset protection, and business planning strategies, including the preparation of documents such as wills, living trusts, durable powers of attorney, healthcare directives, asset protection trusts, irrevocable life insurance trusts, gift programs, grantor retained annuity trusts, education trusts, family limited partnerships and limited liability companies, generation - skipping transfers, charitable giving, charitable remainder trusts, private foundations, property agreements, and prenuptial and postnuptial agreements.

An experienced estate planning lawyer with our firm can answer your questions about irrevocable trusts.

Preparation and advisement regarding complex estate planning vehicles including: grantor retained annuity trusts, private foundations, self - canceling installment notes, charitable remainder and lead trusts, family limited partnerships, defective grantor trusts, irrevocable trusts, and revocable trusts

If an irrevocable trust is the plan owner, a tax advisor should be consulted prior to exercising this option.

On the advanced planning side, they even offer a Single Premium option, great for something like funding a policy up front, and then enclosing in an ILIT (irrevocable life insurance trust) to satisfy estate plan needs.

Establishing and funding an irrevocable life insurance trust (ILIT) is one of the smartest estate planning strategies for paying the federal estate tax.

For more information on using irrevocable life insurance trusts in estate planning, contact MEG Financial now at [phone].

Most of these policies are owned by irrevocable trusts — a common way to handle estate planning, and one that should involve a financial planner and attorney.

My second is that it is covered in an article I recently came across in Investment News, which discusses how these cash value or universal life insurance policies (for the purpose of this blog post, the two are basically the same) were used by estate planning attorneys to fund irrevocable life insurance trusts to help alleviate estate tax obligations.

People expecting to rely on Medicaid subsidies to provide also benefit from whole life insurance plans when they are held in an irrevocable trust.

Special needs or pre-Medicaid estate planning may be accomplished by making an irrevocable special needs trust the beneficiary of a life insurance policy, thereby providing necessary support to a dependent beneficiary without disqualifying them from public benefits.

Generational or «dynasty» planning is about reserving a nest egg for future generations and this is often accomplished through the use of an irrevocable life insurance trust (ILIT).

There are numerous ways to use life insurance to help pay for estate planning but the use of an Irrevocable Life Insurance Trust (ILIT) is a place to start.

Two asset protection benefits are, one, that an irrevocable trust may be set up for the employee to own the policy, such as an irrevocable life insurance trust OR another type of grantor trust, and this can assure that the policy will not be included in the employee's taxable estate for split dollar estate planning purposes.

Estate planning for everyone starts with certain estate planning documents such as a last will and testament, durable power of attorney AND revocable and irrevocable trusts.

Holding assets in an irrevocable trust for future generations is good planning.

One way second to die life insurance can be extremely effective is to fund an Irrevocable Life Insurance Trust a / k / a ILIT as part of a complete estate plan.

Irrevocable life insurance trusts (ILIT) have been a sought after estate planning strategy.

Life Insurance for estate planning must be owned by an irrevocable trust.